v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 84,493 $ (49,198)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 10,522 15,166
Stock-based compensation 28,019 23,129
Impairment charge 0 76,945
Inventory write-downs 3,260 36,184
Deferred taxes (8,747) (23,736)
Other 643 701
Changes in operating assets and liabilities:    
Accounts receivable (4,239) (2,029)
Inventories (22,133) (22,953)
Prepaid expenses and other current and non-current assets 86 2,140
Accounts payable (3,500) 5,492
Accrued expenses and other non-current liabilities 5,512 (935)
Net cash provided by (used in) operating activities 93,916 60,906
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of non-marketable investments 0 (10,000)
Purchases of marketable investments (36) (11,308)
Proceeds from maturities of marketable investments 13,000 82,926
Purchases of property and equipment (29,046) (10,360)
Other 0 1,600
Net cash provided by (used in) investing activities (16,082) 52,858
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 10,726 299
Proceeds from issuance of stock under employee stock purchase plan 8,866 8,861
Payment of employee taxes related to vested stock (507) (510)
Payments of finance lease obligations (1,304) (1,109)
Other (256) (61)
Net cash provided by financing activities 17,525 7,480
Effect of foreign exchange rate changes on cash and cash equivalents 2,005 (398)
NET INCREASE IN CASH AND CASH EQUIVALENTS 97,364 120,846
CASH AND CASH EQUIVALENTS—Beginning of period 324,404 167,486
CASH AND CASH EQUIVALENTS—End of period 421,768 288,332
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 2,814 864
Right-of-use assets obtained in exchange for finance lease obligations 1,390 25
Purchase of property and equipment funded through accounts payable and accrued liabilities 1,618 1,414
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 11,131 11,013
Cash paid for income taxes $ 13,079 $ 9,543