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 $ 20,318 $ 23,914
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 5,613 6,105
Bad debt expense (benefit) 57 (1,903)
Stock-based compensation 6,462 10,450
Deferred income tax (360) (4,798)
Non-cash lease expense 823 904
Unrealized foreign currency (gain) loss 581 (634)
Provision for inventory obsolescence, net (1,437) (4,868)
Other 22 6
Changes in operating assets and liabilities:    
Accounts receivable 23,642 32,213
Inventories 920 4,877
Prepaid expenses and other current assets (3,047) 8,662
Other assets 40 (3,125)
Accounts payable (14,093) 4,895
Accrued expenses, other current liabilities and other non-current liabilities (15,918) (19,979)
Operating lease liabilities (930) (1,074)
Deferred revenue 4,160 5,521
Net cash and cash equivalents provided by operating activities 26,853 61,166
Cash flows from investing activities:    
Purchases of property and equipment, including capitalized software development costs (9,130) (4,892)
Net cash and cash equivalents used in investing activities (9,130) (4,892)
Cash flows from financing activities:    
Repurchases of common stock (12,261) (12,000)
Employee tax withholding payments on stock-based awards (3,971) (2,924)
Cash dividend (21,157) (21,493)
Net cash and cash equivalents used in financing activities (37,389) (36,417)
Effect of exchange rate on changes in cash and cash equivalents (51) 144
Net increase (decrease) in cash and cash equivalents (19,717) 20,001
Cash and cash equivalents at beginning of period 256,216 232,140
Cash and cash equivalents at end of period 236,499 252,141
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 305 279
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 0 371
Property and equipment included in accounts payable, accrued expenses and other current liabilities 3,371 2,019
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 350 185
Stock-based compensation capitalized for software development costs 368 423
Dividends declared but unpaid $ 0 $ 32