v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 71,769 $ 44,857
Adjustments to reconcile net income to cash flows from operating activities:    
Deferred income tax 20,387 0
Share-based compensation 1,973 2,031
Amortization and depreciation 9,650 9,720
Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability (977) 9,265
Net amortization of premiums and discounts on investments (4,200) (5,219)
Other, net (2,082) 4,132
Net changes in operating assets and liabilities:    
Accounts receivable, net 316 (3,547)
Inventory 539 (7,275)
Prepaid expenses and other current assets (5,031) 5,106
Other noncurrent operating assets 0 730
Accounts payable (3,451) (1,875)
Accrued expenses and other liabilities (5,031) (17,136)
Deferred revenue 1,705 5,147
Operating lease liabilities (441) (395)
Cash flows from operating activities 85,126 45,541
Cash flows from investing activities:    
Proceeds from the sale and maturities of investments 209,000 255,285
Purchases of investments (150,805) (237,411)
Net cash and cash equivalents acquired in acquisition of Kezar 5,212 0
Purchases of property, equipment and intangible assets (39) (115)
Cash flows from investing activities 63,368 17,759
Cash flows from financing activities:    
Purchase of common shares under Share Repurchase Plan (74,880) (89,485)
Payments of principal portion of Monoplant finance lease liability (7,058) (6,201)
Proceeds from issuance of common shares for equity awards 59,154 10,590
Proceeds from issuance of common shares under ESPP 363 401
Tax withholding payments related to net settlements of equity awards (26,454) (9,036)
Cash flows from financing activities (48,875) (93,731)
Net increase (decrease) in cash, cash equivalents and restricted cash 99,619 (30,431)
Cash, cash equivalents and restricted cash, beginning of the period 80,213 83,433
Cash, cash equivalents and restricted cash, end of the period 179,832 53,002
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 179,732 52,914
Restricted cash 100 88
Total cash, cash equivalents and restricted cash 179,832 53,002
Supplemental cash flow information:    
Cash paid for taxes 2,355 1,066
Non-cash investing and financing activities:    
Accrual of contingent value rights liability in acquisition of Kezar 3,700 0
Accrual of tax withholding payments related to exercise of stock options $ 1,734 $ 0