v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income (loss) $ 113,793 $ (94,179)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Gain on sale of business (202,278) 0
Indemnification-related loss 4,212 0
Stock-based compensation expense 16,597 23,870
Amortization of acquired intangible assets 0 1,715
Depreciation and amortization 3,884 7,971
Accretion of discount on investments, net (3,046) (2,182)
Realized gain on equity investments (1,187) 0
Unrealized loss on equity investments 2,767 0
Non-cash lease expense 3,866 4,435
Provision for excess and obsolete inventory 1,799 1,975
Change in fair value of warrants 0 (232)
Change in fair value of contingent consideration 0 (3,400)
Other non-cash items 258 922
Changes in assets and liabilities:    
Accounts receivable, net 2,042 (8,091)
Inventory 2,850 (10,352)
Prepaid expenses and other assets (829) (1,880)
Deferred tax asset, non-current 38,355 0
Accounts payable (5,519) 1,784
Accrued liabilities (5,717) 10,259
Deferred revenue (30,727) (1,200)
Operating lease liabilities (4,198) (4,738)
Other liabilities 9 170
Net cash used in operating activities (63,069) (73,153)
Investing activities    
Proceeds from for sale of business 410,701 0
Purchases of short-term investments (139,078) (91,241)
Purchases of long-term investments (169,692) (19,483)
Purchases of marketable equity securities (839) 0
Proceeds from sales of equity investments 3,153 0
Proceeds from sales and maturities of investments 107,000 154,000
Purchases of property and equipment (914) (7,827)
Net cash provided by investing activities 210,331 35,449
Financing activities    
Proceeds from ESPP stock issuance 120 308
Payments for taxes related to net share settlement of equity awards and other (974) (358)
Proceeds from exercise of stock options 78 0
Net cash used in financing activities (776) (50)
Effect of foreign exchange rate fluctuations on cash and cash equivalents (218) 942
Net increase (decrease) in cash, cash equivalents and restricted cash 146,268 (36,812)
Cash, cash equivalents and restricted cash at beginning of period 123,296 168,818
Cash, cash equivalents and restricted cash at end of period 269,564 132,006
Supplemental disclosures of cash flow information    
Cash paid for interest 8 15
Cash paid (refunded) for income taxes 1,016 (52)
Purchases of property and equipment included in accounts payable 0 135
Non-cash right-of-use assets and lease liabilities 8,305 405
Asset retirement obligations $ 826 $ 654