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 $ 56,712 $ 46,583
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,232 8,285
Stock-based compensation 18,685 0
Deferred income taxes 6,919 0
Other 21 1,396
Changes in operating assets and liabilities:    
Accounts receivable, net of allowance (30,506) (12,271)
Inventory (24,138) 7,681
Prepaid expenses and other current assets 9,411 (3,919)
Other non-current assets 36 (1,068)
Operating leases, net (271) (6)
Accounts payable 24,520 8,275
Accrued expenses 13,280 (754)
Other liabilities 1,369 (3,757)
Net cash provided by operating activities 87,270 50,445
Cash flows from investing activities:    
Purchases of property and equipment (20,196) (10,578)
Net cash used in investing activities (20,196) (10,578)
Cash flows from financing activities:    
Payment of taxes withheld upon vesting of restricted stock (8,075) 0
Proceeds from employee stock purchase plan 1,256 0
Repurchases of common stock (3,712) 0
Net cash used in financing activities (10,531) 0
Effect of exchange rates on cash and cash equivalents 238 (229)
Net change in cash and cash equivalents 56,781 39,638
Cash and cash equivalents at beginning of the period 289,049 175,615
Cash and cash equivalents at end of the period 345,830 215,253
Supplemental disclosure of cash flow information:    
Cash paid for income taxes $ 3,268 $ 17,726