v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 511,774 $ 777,289
Accounts receivable, net [1] 1,475,606 1,667,143
Inventories 1,034,582 1,002,205
Prepaid expenses and other current assets 239,761 164,628
Total current assets 3,261,723 3,611,265
Property and equipment, net 243,083 232,226
Operating lease right-of-use assets 136,693 142,487
Intangible assets, net 449,309 451,137
Goodwill 834,781 834,781
Deferred tax assets 20,433 10,706
Other assets, noncurrent 72,240 66,832
Total assets 5,018,262 5,349,434
Current liabilities:    
Accounts payable [2] 583,484 679,534
Accrued expenses and other current liabilities 684,294 1,016,645
Tax payable 65,336 38,092
Debt, current 39,344 39,344
Total current liabilities 1,372,458 1,773,615
Debt, noncurrent 686,959 696,795
Operating lease liabilities, noncurrent 134,563 140,981
Deferred tax liabilities 15,920 16,252
Other liabilities, noncurrent 45,272 45,580
Total liabilities 2,255,172 2,673,223
Commitments and contingencies (Note 9)
Shareholders’ equity:    
Ordinary shares, $0.0001 par value per share; 1,000,000,000 shares authorized; 141,902,856 shares issued and 141,709,721 shares outstanding as of March 31, 2026; $141,158,026 shares issued and outstanding as of December 31, 2025 14 14
Additional paid-in capital 1,035,237 1,045,504
Treasury shares, at cost; 193,135 shares and 0 shares as of March 31, 2026 and December 31, 2025, respectively (19,999) 0
Retained earnings 1,731,860 1,610,398
Accumulated other comprehensive income (loss) 15,978 20,295
Total shareholders’ equity 2,763,090 2,676,211
Total liabilities and shareholders’ equity $ 5,018,262 $ 5,349,434
[1] Including amounts from a related party of $23,810 and $17,574 as of March 31, 2026 and December 31, 2025, respectively.
[2] Including amounts to a related party of $11,702 and $14,115 as of March 31, 2026 and December 31, 2025, respectively.