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 $ 109,674 $ 130,344
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,655 13,010
Stock-based compensation 43,136 43,951
Inventory write-downs 6,548 4,233
Deferred taxes 383 5,974
Other (4,053) 946
Changes in operating assets and liabilities:    
Accounts receivable (8,219) (12,690)
Inventories (35,287) (25,852)
Prepaid expenses and other current and non-current assets 1,780 (17,100)
Accounts payable 4,009 (1,471)
Accrued expenses and other non-current liabilities 40,937 10,834
Net cash provided by operating activities 174,563 152,179
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of non-marketable investment (10,994) 0
Purchases of marketable investments (526,292) (146,648)
Proceeds from sales of marketable investments 11,807 0
Proceeds from maturities of marketable investments 456,255 13,000
Purchases of property and equipment (42,320) (45,295)
Other (1,500) 0
Net cash used in investing activities (113,044) (178,943)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 0 15,378
Proceeds from issuance of stock under employee stock purchase plan 9,674 8,866
Payment of employee taxes related to vested stock (1,769) (597)
Payments of finance lease obligations (1,843) (1,916)
Other 0 (256)
Net cash provided by financing activities 6,062 21,475
Effect of foreign exchange rate changes on cash and cash equivalents (196) 1,914
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 67,385 (3,375)
CASH AND CASH EQUIVALENTS—Beginning of period 186,897 324,404
CASH AND CASH EQUIVALENTS—End of period 254,282 321,029
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 2,190 2,959
Right-of-use assets obtained in exchange for finance lease obligations 144 1,467
Purchase of property and equipment funded through accounts payable and accrued liabilities 14,572 1,546
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 17,871 16,703
Cash paid for income taxes $ 18,490 $ 14,119