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 $ 32,584 $ 39,223
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,574 5,015
Stock-based compensation 14,645 13,785
Inventory write-downs 1,634 2,485
Deferred taxes (727) (1,998)
Other (1,211) 452
Changes in operating assets and liabilities:    
Accounts receivable 5,542 543
Inventories (9,019) (10,762)
Prepaid expenses and other current and non-current assets 13,040 (96)
Accounts payable 8,966 (251)
Accrued expenses and other non-current liabilities 16,943 574
Net cash provided by operating activities 86,971 48,970
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable investments (141,101) (35)
Proceeds from maturities of marketable investments 125,139 13,000
Purchases of property and equipment (13,671) (13,467)
Other (1,000) 0
Net cash used in investing activities (30,633) (502)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 0 4,022
Payment of employee taxes related to vested stock (1,290) (445)
Payments of finance lease obligations (617) (613)
Other 0 (256)
Net cash (used in) provided by financing activities (1,907) 2,708
Effect of foreign exchange rate changes on cash and cash equivalents (39) 474
NET INCREASE IN CASH AND CASH EQUIVALENTS 54,392 51,650
CASH AND CASH EQUIVALENTS—Beginning of period 186,897 324,404
CASH AND CASH EQUIVALENTS—End of period 241,289 376,054
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 486 838
Right-of-use assets obtained in exchange for finance lease obligations 118 7
Purchase of property and equipment funded through accounts payable and accrued liabilities 11,779 1,727
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 5,907 5,564
Cash paid for income taxes $ 439 $ 5,996