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 $ 95,369 $ 44,806
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization expense 1,430 1,087
Share-based compensation expense 34,757 26,768
Non-cash lease expense 3,010 2,703
Net amortization of premiums and accretion of discounts on short-term investments 1,053 14
Net gain on disposal of property and equipment (24) (67)
Deferred income taxes 619 9,864
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 228 (10,165)
Accounts receivable, net (15,185) (10,018)
Inventory (53,133) (15,032)
Other long-term assets 394 1,832
Accounts payable 2,081 4,264
Accrued expenses, accrued collaboration expenses and other current liabilities 49,690 17,870
Operating lease liabilities (2,205) (2,537)
Other long-term liabilities 26,857 12,702
Net cash provided by operating activities 144,941 84,091
Cash flows from investing activities:    
Purchases of property and equipment (1,004) (935)
Purchases of short-term investments (457,156) (275,953)
Proceeds from the maturities of short-term investments 214,100 158,709
Net cash used in investing activities (244,060) (118,179)
Cash flows from financing activities:    
Proceeds from issuance of Class A ordinary shares under incentive award plans and employee share purchase plan 30,042 32,177
Payments in connection with ordinary shares tendered for employee tax obligations (14,859) (6,812)
Net cash provided by financing activities 15,183 25,365
Net decrease in cash and cash equivalents (83,936) (8,723)
Cash and cash equivalents at beginning of period 165,596 183,581
Cash and cash equivalents at end of period 81,660 174,858
Supplemental information:    
Cash paid for income taxes 9 3,009
Supplemental disclosure of non-cash investing and financing activities:    
Change in right-of-use asset as a result of new, modified, and terminated leases 592 2,400
Additions to property and equipment included in accrued expenses and other liabilities $ 91 $ 287