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 $ 296,170 $ 191,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,678 34,616
Non-cash interest income, net (2,426) (6,429)
Non-cash change in investments 584 (150)
Change in deferred revenue (71,206) (54,408)
Deferred income taxes 31,572 29,495
Share-based compensation 21,334 19,041
Increase in assets:    
Receivables (200,405) (106,348)
Deferred charges and other assets (14,044) (41,151)
Increase (Decrease) in liabilities:    
Accounts payable 801 (611)
Customer deposit 0 (63,100)
Accrued compensation and other expenses (14,929) (408)
Net cash provided by operating activities 85,129 1,863
Cash flows from investing activities:    
Purchases of short-term investments (236,016) (297,086)
Sales of short-term investments 254,003 415,988
Purchases of property and equipment (15,082) (1,003)
Capitalized patent costs (25,125) (21,595)
Long-term investments 0 1,194
Net cash (used in) provided by investing activities (22,220) 97,498
Cash flows from financing activities:    
Payments on long-term debt (1,284) (139,069)
Repurchase of common stock (31,417) (63,670)
Net proceeds from exercise of stock options 7,331 0
Taxes withheld upon restricted stock unit vestings (33,116) (10,215)
Dividends paid (27,134) (20,373)
Net cash used in financing activities (85,620) (233,327)
Net decrease in cash, cash equivalents and restricted cash (22,711) (133,966)
Cash, cash equivalents and restricted cash, beginning of period 551,547 442,961
Cash, cash equivalents and restricted cash, end of period $ 528,836 $ 308,995