v3.26.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net (loss) $ (10,980) $ (600)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 9,707 6,458
Accretion of investment discount (527) (2,118)
Stock-based compensation expense 61,915 72,780
Deferred income tax expense 11,161 0
Impairment charge 0 4,046
Other non-cash expenses 741 1,383
Changes in operating assets and liabilities:    
Accounts receivable 16,212 (44,321)
Inventories (25,159) (41,515)
Prepaid expenses and other current assets (4,067) (639)
Accounts payable (6,699) 11,816
Accrued expenses and other liabilities (16,227) (11,309)
Net cash provided by (used in) operating activities 36,077 (4,019)
Investing activities    
Capital expenditures (18,886) (17,404)
Purchases of investments (82,246) (111,238)
Proceeds from sales or maturities of investments 93,431 173,651
Net cash (used in) provided by investing activities (7,701) 45,009
Financing activities    
Proceeds from the exercise of stock options 512 8,615
Share repurchase of common stock 0 (75,009)
Payment of taxes on net share settlement of equity awards (8,276) (20,924)
Proceeds from issuance of common stock from employee stock purchase plan 2,193 3,255
Net cash (used in) financing activities (5,571) (84,063)
Effect of exchange rate on cash 143 (150)
Increase (decrease) in cash and cash equivalents 22,948 (43,223)
Cash and cash equivalents at beginning of period 104,813 150,150
Cash and cash equivalents at end of period 127,761 106,927
Supplemental cash flow information    
Capital expenditures included in accounts payable and accrued expenses $ 2,067 $ 5,789