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 $ 67,395 $ 84,493
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,189 10,522
Stock-based compensation 28,304 28,019
Inventory write-downs 2,486 3,260
Deferred taxes (69) (8,747)
Other (2,453) 643
Changes in operating assets and liabilities:    
Accounts receivable (2,496) (4,239)
Inventories (14,344) (22,133)
Prepaid expenses and other current and non-current assets (1,067) 86
Accounts payable 10,353 (3,500)
Accrued expenses and other non-current liabilities 34,757 5,512
Net cash provided by operating activities 133,055 93,916
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable investments (357,296) (36)
Proceeds from sales of marketable investments 10,174 0
Proceeds from maturities of marketable investments 253,611 13,000
Purchases of property and equipment (27,213) (29,046)
Other (1,000) 0
Net cash used in investing activities (121,724) (16,082)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 0 10,726
Proceeds from issuance of stock under employee stock purchase plan 9,674 8,866
Payment of employee taxes related to vested stock (1,321) (507)
Payments of finance lease obligations (1,235) (1,304)
Other 0 (256)
Net cash provided by financing activities 7,118 17,525
Effect of foreign exchange rate changes on cash and cash equivalents (75) 2,005
NET INCREASE IN CASH AND CASH EQUIVALENTS 18,374 97,364
CASH AND CASH EQUIVALENTS—Beginning of period 186,897 324,404
CASH AND CASH EQUIVALENTS—End of period 205,271 421,768
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 1,305 2,814
Right-of-use assets obtained in exchange for finance lease obligations 137 1,390
Purchase of property and equipment funded through accounts payable and accrued liabilities 15,515 1,618
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 11,844 11,131
Cash paid for income taxes $ 8,739 $ 13,079