v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 1,584 $ 3,758
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 15,892 15,341
Deferred income taxes 2,177 6,476
Stock-based compensation 10,249 10,754
Unrealized (gain) loss on foreign currency transactions (672) 42
Provisions for inventory, warranty and bad debt 9,348 11,876
Amortization of premium/discount on investments (1,308) (3,878)
Other 979 1,402
Changes in assets and liabilities that (used) provided cash:    
Accounts receivable (11,843) (4,113)
Inventories (19,417) (8,967)
Prepaid expenses and other assets (11,434) (6,087)
Accounts payable 17,281 5,491
Accrued expenses and other current liabilities (4,960) (6,965)
Income and other taxes payable (13,339) (11,685)
Net cash (used in) provided by operating activities (5,463) 13,445
Cash flows from investing activities:    
Purchases of and deposits on property, plant and equipment (16,311) (24,818)
Proceeds from sales of property, plant and equipment 812 183
Purchases of investments (32,870) (333,009)
Proceeds from maturities of investments 143,538 83,206
Other 77 52
Net cash provided by (used in) investing activities 95,246 (274,386)
Cash flows from financing activities:    
Payments for taxes related to net share settlement of equity awards less proceeds from issuance of common stock under employee stock option plans (11,712) (5,775)
Purchase of treasury stock net of excise tax, at cost 0  
Purchase of treasury stock net of excise tax, at cost   105
Net cash used in financing activities (11,712) (5,670)
Effect of changes in exchange rates on cash and cash equivalents (1,100) 9,617
Net increase (decrease) in cash and cash equivalents 76,971 (256,994)
Cash and cash equivalents — Beginning of period 403,790 620,040
Cash and cash equivalents — End of period 480,761 363,046
Supplemental disclosure of cash flow information:    
Cash paid for interest 3 5
Cash paid for income taxes, net of refunds 7,689 10,574
Non-cash transactions:    
Demonstration units transferred from inventory to other assets 1,917 1,532
Inventory transferred to machinery and equipment 3,532 644
Additions to property, plant and equipment included in accounts payable 2,433 2,462
Leased assets obtained in exchange for new operating lease liabilities 854 2,979
Excise tax on net share repurchases accrued in period $ 0 $ (105)