v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 100,310 $ (59,492)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Gain on sale of business (172,289) 0
Indemnification-related loss 4,212  
Stock-based compensation expense 12,874 15,396
Amortization of acquired intangible assets 0 1,715
Depreciation and amortization 2,681 6,450
Accretion of discount on investments, net (1,839) (1,571)
Realized gain on equity investments (1,187) 0
Unrealized loss on equity investments 2,542 0
Non-cash lease expense 2,600 2,865
Provision for excess and obsolete inventory 1,770 1,360
Change in fair value of warrants 0 (232)
Change in fair value of contingent consideration 0 (3,400)
Other non-cash items 46 477
Changes in assets and liabilities:    
Accounts receivable, net (610) (2,297)
Inventory 3,184 (8,548)
Prepaid expenses and other assets (2,633) (1,559)
Deferred tax asset, non-current 38,364 384
Accounts payable 441 838
Accrued liabilities (14,140) 1,485
Deferred revenue (30,394) (1,900)
Operating lease liabilities (2,834) (3,065)
Other liabilities (6) 143
Net cash used in operating activities (56,908) (50,951)
Investing activities    
Cash received for sale of business 388,214 0
Purchases of short-term investments (127,208) (50,929)
Purchases of long-term investments (109,845) 0
Purchases of marketable equity securities (839) 0
Proceeds from sales of equity investments 3,090 0
Proceeds from sales and maturities of investments 53,000 100,000
Purchases of property and equipment (914) (6,941)
Net cash provided by investing activities 205,498 42,130
Financing activities    
Proceeds from ESPP stock issuance 120 308
Payments for taxes related to net share settlement of equity awards and other (376) (246)
Proceeds from exercise of stock options 78 0
Net cash (used in) provided by financing activities (178) 62
Effect of foreign exchange rate fluctuations on cash and cash equivalents 409 1,145
Net increase (decrease) in cash, cash equivalents and restricted cash 148,821 (7,614)
Cash, cash equivalents and restricted cash at beginning of period 123,296 168,818
Cash, cash equivalents and restricted cash at end of period 272,117 161,204
Supplemental disclosures of cash flow information    
Cash paid for interest 4 10
Cash (refunded) paid for income taxes (9) 20
Purchases of property and equipment included in accounts payable 0 183
Non-cash right-of-use assets and lease liabilities 8,210 146
Asset retirement obligations $ 818 $ 660