v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 202,028 $ 166,615
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 44,460 39,822
Depreciation 29,318 25,654
Amortization of intangible assets 4,459 5,158
Deferred income taxes 18,478 22,888
Other 523 1
Change in operating assets and liabilities:    
Accounts receivable (4,815) 17,466
Unbilled receivables (586) 66
Prepaids and other current assets 906 (3,595)
Inventories (43,137) 28
Income taxes receivable 903 (11,944)
Accounts payable (5,995) (5,153)
Accrued salaries and benefits and other liabilities 2,575 (6,502)
Income taxes payable (377) 10,213
Deferred revenue 2,962 3,583
Operating lease liabilities (4,764) (4,098)
Net cash provided by operating activities 246,938 260,202
Cash flows from investing activities:    
Purchases of property and equipment (27,307) (20,325)
Purchases of marketable securities (692,552) (498,171)
Proceeds from sales of marketable securities 123,187 0
Maturities of marketable securities 479,086 287,055
Net cash used in investing activities (117,586) (231,441)
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee stock plans 5,355 3,743
Payments of taxes related to net share settlement of equity awards (55,401) (37,640)
Payments under installment payment arrangements (13,100) (10,163)
Repurchase and retirement of common stock (138,308) (5,810)
Net cash used in financing activities (201,454) (49,870)
Effect of exchange rate changes on cash and cash equivalents (193) 534
Net decrease in cash and cash equivalents (72,295) (20,575)
Cash and cash equivalents at beginning of period 182,826 99,775
Cash and cash equivalents at end of period 110,531 79,200
Non-cash investing and financing activities:    
Property and equipment received and accrued in accounts payable and other liabilities $ 520 $ 713