v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 48,024 $ 26,371
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization expense 940 703
Share-based compensation expense 21,692 16,624
Non-cash lease expense 2,005 1,759
Net amortization of premiums and accretion of discounts on short-term investments 1,395 (589)
Net gain on disposal of property and equipment (32) (24)
Deferred income taxes 7,184 5,637
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (5,523) (12,195)
Accounts receivable, net (7,896) 9,814
Inventory (16,035) (21,817)
Other long-term assets 374 1,975
Accounts payable 10,267 6,992
Accrued expenses, accrued collaboration expenses and other current liabilities 20,744 9,502
Operating lease liabilities (1,151) (1,777)
Other long-term liabilities 15,406 7,439
Net cash provided by operating activities 97,394 50,414
Cash flows from investing activities:    
Purchases of property and equipment (824) (264)
Purchases of short-term investments (287,031) (129,793)
Proceeds from the maturities of short-term investments 182,359 74,633
Net cash used in investing activities (105,496) (55,424)
Cash flows from financing activities:    
Proceeds from issuance of Class A ordinary shares under incentive award plans and employee share purchase plan 23,967 15,925
Payments in connection with ordinary shares tendered for employee tax obligations (5,784) (2,459)
Net cash provided by financing activities 18,183 13,466
Net increase in cash and cash equivalents 10,081 8,456
Cash and cash equivalents at beginning of period 165,596 183,581
Cash and cash equivalents at end of period 175,677 192,037
Supplemental information:    
Cash paid for income taxes 9 3,009
Supplemental disclosure of non-cash investing and financing activities:    
Change in right-of-use asset as a result of new, modified, and terminated leases 551 1,687
Additions to property and equipment included in accrued expenses and other liabilities $ 199 $ 338