v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 7,315 $ 25,682
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 11,864 6,137
Stock-based compensation expense 9,952 8,958
Deferred taxes 1,067  
Non-cash interest expense 4,593 787
Non-cash operating lease expense 610 474
Unrealized foreign currency transaction (gains) losses 486 (573)
Loss on disposal of fixed assets   80
Changes in operating assets and liabilities    
Accounts receivable (6,520) (44,134)
Inventory (3,896) 2,003
Prepaid expenses and other current assets 1,961 1,928
Other non-current assets (155)  
Accounts payable 1,126 781
Accrued expenses and other current liabilities (3,105) (4,644)
Deferred revenue 40 330
Operating lease liabilities (805) (664)
Net cash provided by (used in) operating activities 24,533 (2,855)
Cash flows from investing activities:    
Purchases of property, plant and equipment (36,657) (27,038)
Net cash used in investing activities (36,657) (27,038)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 2,212 1,742
Proceeds from issuance of common stock in connection with employee stock purchase plan 1,688 1,286
Tax withholding payments related to net settlement of restricted stock units (138)  
Net cash provided by financing activities 3,762 3,028
Effect of exchange rate changes on cash and restricted cash (327) 358
Net decrease in cash and restricted cash (8,689) (26,507)
Cash and restricted cash, beginning of period 488,866 337,150
Cash and restricted cash, end of period 480,177 310,643
Supplemental disclosure of non-cash activities:    
Transfers of inventory to property, plant and equipment 2,831 1,275
Purchases of property, plant and equipment included in accounts payable and accrued expenses 1,102 1,136
Operating lease liabilities arising from obtaining right-of-use assets 313  
Finance lease liability arising from obtaining right-of-use assets 340,040  
Purchases of property, plant and equipment included in other long-term liabilities 3,986  
Reconciliation of cash and restricted cash:    
Cash 461,739 310,143
Restricted Cash 18,438 500
Total cash and restricted cash shown in the statement of cash flows $ 480,177 $ 310,643