v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 15,679 $ 11,011
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,623 2,552
Stock-based compensation 2,092 2,046
Amortization of issuance costs on convertible senior notes 222 212
Non-cash investment income (102) 0
Provision for inventory write-downs 761 637
Provision for credit losses 0 12
Foreign currency transaction effect on income 71 (19)
Changes in operating assets and liabilities:    
Accounts receivable (2,481) (4,619)
Inventory and other deferred costs (1,392) (1,334)
Prepaid expenses and other assets 1,038 2,721
Accounts payable and other liabilities (2,340) (5,258)
Accrued interest (1,078) 1,078
Net cash provided by operating activities 15,093 9,039
Investing activities    
Purchases of short-term marketable securities (150,866) (2,893)
Purchases of property and equipment (2,783) (1,383)
Payments related to acquisitions, net of cash acquired (45) (44)
Proceeds from sales of short-term marketable securities 140,573 0
Net cash used in investing activities (13,121) (4,320)
Financing activities    
Proceeds from stock option exercises 2,952 1,312
Deferred payments for acquisitions 0 (1,433)
Payment of withholding taxes in connection with net settlement of equity awards (460) (601)
Common stock cash dividend paid (5,711) (4,517)
Net cash used in financing activities (3,219) (5,239)
Effect of exchange rate changes on cash and cash equivalents (146) 250
Net increase (decrease) in cash and cash equivalents (1,393) (270)
Cash and cash equivalents at beginning of period 28,244 25,610
Cash and cash equivalents at end of period 26,851 25,340
Non-cash operating activities    
Right-of-use assets obtained in exchange for new operating lease obligations 5,070 58
Supplemental cash flow information    
Cash paid for amounts included in the measurement of operating lease laibilities 1,407 876
Cash paid for income taxes $ 687 $ 277