v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Common Stock
Treasury Stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Total
Beginning balance at Dec. 31, 2023 $ 3,687 $ (56,936) $ 732,894 $ (176) $ (15,196) $ 664,273
Beginning balance (in shares) at Dec. 31, 2023   (11,064,692)        
Beginning balance (in shares) at Dec. 31, 2023 368,655,185          
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards $ 136   7,267     7,403
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards (in shares) 13,646,532          
Stock-based compensation     30,478     30,478
ESPP shares issued $ 7   3,249     3,256
ESPP shares issued (in shares) 697,263          
Common stock repurchased   $ (97,756)       (97,756)
Common stock repurchased (shares)   (19,244,897)        
Unrealized gain on available-for-sale debt securities, net       871   871
Unrealized gain (loss) on cash flow hedges, net       (665)   (665)
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net       120   120
Net income         61,399 61,399
Ending balance at Jun. 30, 2024 $ 3,830 $ (154,692) 773,888 150 46,203 669,379
Ending balance (in shares) at Jun. 30, 2024   (30,309,589)        
Ending balance (in shares) at Jun. 30, 2024 382,998,980          
Beginning balance at Mar. 31, 2024 $ 3,773 $ (108,096) 752,236 (149) 13,778 661,542
Beginning balance (in shares) at Mar. 31, 2024   (21,598,626)        
Beginning balance (in shares) at Mar. 31, 2024 377,294,480          
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards $ 50   3,921     3,971
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards (in shares) 5,007,237          
Stock-based compensation     14,482     14,482
ESPP shares issued $ 7   3,249     3,256
ESPP shares issued (in shares) 697,263          
Common stock repurchased   $ (46,596)       (46,596)
Common stock repurchased (shares)   (8,710,963)        
Unrealized gain on available-for-sale debt securities, net       872   872
Unrealized gain (loss) on cash flow hedges, net       (699)   (699)
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net       126   126
Net income         32,425 32,425
Ending balance at Jun. 30, 2024 $ 3,830 $ (154,692) 773,888 150 46,203 669,379
Ending balance (in shares) at Jun. 30, 2024   (30,309,589)        
Ending balance (in shares) at Jun. 30, 2024 382,998,980          
Beginning balance at Dec. 31, 2024 $ 3,960 $ (193,724) 821,196 (12,609) 105,967 $ 724,790
Beginning balance (in shares) at Dec. 31, 2024   (35,872,339)       35,872,339
Beginning balance (in shares) at Dec. 31, 2024 395,965,588          
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards $ 81   (5,653)     $ (5,572)
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards (in shares) 8,157,226          
Stock-based compensation     40,126     40,126
ESPP shares issued $ 7   3,921     3,928
ESPP shares issued (in shares) 678,351          
Common stock repurchased   $ (49,681)       (49,681)
Common stock repurchased (shares)   (6,692,475)        
Unrealized gain on available-for-sale debt securities, net       9,804   9,804
Tax expense on unrealized gains on available-for-sale debt securities, net       (2,174)   (2,174)
Unrealized gain (loss) on cash flow hedges, net       4,145   4,145
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net       (808)   (808)
Unrealized gain on interest rate floor, net       8,138   8,138
Tax expense on unrealized gains on interest rate floor, net       (1,745)   (1,745)
Foreign currency translation adjustments       (103)   (103)
Net income         40,057 40,057
Ending balance at Jun. 30, 2025 $ 4,048 $ (243,405) 859,590 4,648 146,024 $ 770,905
Ending balance (in shares) at Jun. 30, 2025   (42,564,814)       42,564,814
Ending balance (in shares) at Jun. 30, 2025 404,801,165          
Beginning balance at Mar. 31, 2025 $ 4,003 $ (210,702) 834,745 (3,859) 126,544 $ 750,731
Beginning balance (in shares) at Mar. 31, 2025   (37,752,648)        
Beginning balance (in shares) at Mar. 31, 2025 400,261,352          
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards $ 38   168     206
Exercise of options and vested RSUs, net of taxes paid related to settlement of equity awards (in shares) 3,861,462          
Stock-based compensation     20,756     20,756
ESPP shares issued $ 7   3,921     3,928
ESPP shares issued (in shares) 678,351          
Common stock repurchased   $ (32,703)       (32,703)
Common stock repurchased (shares)   (4,812,166)        
Unrealized gain on available-for-sale debt securities, net       2,565   2,565
Tax expense on unrealized gains on available-for-sale debt securities, net       (569)   (569)
Unrealized gain (loss) on cash flow hedges, net       5,932   5,932
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net       (1,135)   (1,135)
Unrealized gain on interest rate floor, net       2,117   2,117
Tax expense on unrealized gains on interest rate floor, net       (469)   (469)
Foreign currency translation adjustments       66   66
Net income         19,480 19,480
Ending balance at Jun. 30, 2025 $ 4,048 $ (243,405) $ 859,590 $ 4,648 $ 146,024 $ 770,905
Ending balance (in shares) at Jun. 30, 2025   (42,564,814)       42,564,814
Ending balance (in shares) at Jun. 30, 2025 404,801,165