v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income $ 625,154 $ 14,831
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 15,903 23,279
Non-cash stock-based compensation 19,499 25,655
Provision for excess and obsolete inventory 1,379 18,472
Impairment of long-lived assets 349 1,669
Other items, net 4,682 (2,687)
Changes in operating assets and liabilities:    
Inventory (1,635) 14,176
Accounts receivable, prepaid expenses, and other assets (94,947) 390,766
Accounts payable, accrued expenses, and other liabilities (274,488) (366,484)
Deferred revenue (608,860) 111,037
Net cash provided by (used in) operating activities (312,964) 230,714
Investing Activities:    
Capital expenditures (1,467) (9,753)
Purchases of available-for-sale marketable securities (114,724) (369,582)
Proceeds from maturities of available-for-sale marketable securities 154,625 0
Internal-use software (655) (622)
Net cash provided by (used in) investing activities 37,779 (379,957)
Financing Activities:    
Net proceeds from sales of common stock 0 263,272
Net proceeds from the exercise of stock-based awards (5,288) 1,556
Finance lease payments (2,813) (726)
Net cash provided by (used in) financing activities (8,101) 264,102
Effect of exchange rate on cash, cash equivalents, and restricted cash 6,976 (3,111)
Net increase (decrease) in cash, cash equivalents, and restricted cash (276,310) 111,748
Cash, cash equivalents, and restricted cash at beginning of period 545,292 583,810
Cash, cash equivalents, and restricted cash at end of period 268,982 695,558
Supplemental disclosure of non-cash activities:    
Right-of-use asset leases, net of tenant improvement allowance on facility leases 0 (8,289)
Capital expenditures included in accounts payable and accrued expenses 81 2,137
Supplemental disclosure of cash flow information:    
Cash interest payments, net of amounts capitalized 9,806 7,180
Cash paid for income taxes, net of refunds $ 4,922 $ (649)