v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 55,932 $ 35,733
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,522 1,410
Accretion on marketable securities (576) (453)
Amortization of operating lease right-of-use assets 204 224
Stock-based compensation expense, net 13,609 13,478
Realized gain on investments (529) (1,502)
Other, net 136 614
Changes in operating assets and liabilities    
Accounts receivable, net 58 1,486
Inventory (243) (1,395)
Prepaid taxes 3,365 457
Prepaid expenses and other current assets (1,699) (3,433)
Lease liability (227) (136)
Other long-term liabilities 1,435 534
Accounts payable 1,022 906
Accrued rebates 12,685 10,601
Accrued expenses and other current liabilities (6,312) 3,695
Accrued legal settlement 0 (31,250)
Net cash provided by operating activities 80,382 30,969
Investing Activities    
Proceeds from disposal of assets 0 435
Purchases of property and equipment (7,148) (6,204)
Purchases of investments (160,033) (137,806)
Maturities of investments 103,598 88,806
Net cash (used in) investing activities (63,583) (54,769)
Financing Activities    
Proceeds from exercise of stock options 6,501 1,462
Net cash (used in) financing activities (10,459) (12,466)
Effect of exchange rate changes on cash and cash equivalents (1,331) 171
Net increase (decrease) in cash and cash equivalents 5,009 (36,095)
Cash and cash equivalents at beginning of period 496,304 344,865
Cash and cash equivalents at end of period 501,313 308,770
Supplemental Disclosures of Non-Cash Activities    
Unpaid purchases of property and equipment 1,218 1,397
Initial recognition of right-of-use assets 0 1,802
Supplemental Cash Flow Information    
Income taxes paid 627 400
Restricted Stock Units (RSUs)    
Financing Activities    
Taxes paid for employee tax withholding related to restricted stock units and Taxes paid related to settlement of restricted stock awards (16,960) (12,116)
Restricted Stock    
Financing Activities    
Taxes paid for employee tax withholding related to restricted stock units and Taxes paid related to settlement of restricted stock awards $ 0 $ (1,812)