v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net income (loss) $ (62,878) $ 625,154
Reconciliation of net income (loss) to net cash used in operating activities:    
Depreciation and amortization 6,118 15,903
Non-cash stock-based compensation 15,813 19,499
Provision for excess and obsolete inventory 1,597 1,379
Other items, net (7,618) 5,031
Changes in operating assets and liabilities:    
Inventory (544) (1,635)
Accounts receivable, prepaid expenses, and other assets 95,116 (94,947)
Accounts payable, accrued expenses, and other liabilities (97,170) (274,488)
Deferred revenue (55,664) (608,860)
Net cash used in operating activities (105,230) (312,964)
Investing Activities:    
Capital expenditures, including internal-use software (1,858) (2,122)
Proceeds from assets held for sale 39,750 0
Purchases of marketable securities (295,820) (114,724)
Proceeds from maturities of marketable securities 264,464 154,625
Net cash provided by investing activities 6,536 37,779
Financing Activities:    
Proceeds from credit facility, net of issuance costs 46,411 0
Net proceeds from the exercise of stock-based awards, net of tax withholding (6,431) (5,288)
Finance lease payments (1,104) (2,813)
Net cash provided by (used in) financing activities 38,876 (8,101)
Effect of exchange rate on cash, cash equivalents, and restricted cash (194) 6,976
Net decrease in cash, cash equivalents, and restricted cash (60,012) (276,310)
Cash, cash equivalents, and restricted cash at beginning of period 256,052 545,292
Cash, cash equivalents, and restricted cash at end of period 196,040 268,982
Supplemental disclosure of non-cash activities:    
Right-of-use assets from new lease agreements 2,335 0
Capital expenditures included in accounts payable and accrued expenses 0 81
Supplemental disclosure of cash flow information:    
Cash interest payments, net of amounts capitalized 9,299 9,806
Cash paid for income taxes, net of refunds received $ 2,832 $ 4,922