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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows (used in) provided by Operating Activities:    
Net income $ 38,270 $ 39,315
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 5,965 6,539
Adjustments to credit losses reserve 1,058 410
Stock-based compensation expense 4,669 4,197
Deferred income taxes   1,623
Amortization of discount on short-term investments, net (1,672) (5,593)
Gain on sale of short-term investments (76)  
Loss on disposal of fixed assets 20 36
Changes in assets and liabilities:    
Accounts receivable (26,662) 7,598
Inventories (38,433) (12,434)
Prepaid expenses and other current assets (4,142) (5,823)
Other non-current assets (1,629) 448
Accounts payable 3,368 53,172
Accrued expenses and other liabilities (6,865) 6,188
Net cash (used in) provided by operating activities (26,129) 95,676
Cash Flows provided by (used in) Investing Activities:    
Purchases of short-term investments (52,358) (203,278)
Proceeds from sale of short-term investments 108,763  
Maturities of short-term investments 50,000 103,280
Purchases of property and equipment (3,331) (3,427)
Net cash provided by (used in) investing activities 103,074 (103,425)
Cash Flows used in Financing Activities:    
Proceeds from short-term borrowings 732 10,560
Repayment of short-term borrowings (732) (10,560)
Purchase of common stock for treasury shares (60,464) (3,613)
Payments for excise tax on treasury purchases (36)  
Dividend payments (7,720) (5,271)
Issuance of stock under Employee Stock Purchase Plan 619 537
Payment of payroll taxes on stock-based compensation through shares withheld (918) (645)
Net cash used in financing activities (68,519) (8,992)
Increase (decrease) in cash and cash equivalents 8,426 (16,741)
Cash and cash equivalents, beginning of period 178,318 144,954
Cash and cash equivalents, end of period 186,744 128,213
Non-cash Investing and Financing Activities:    
Accrued purchases of property and equipment 346 347
Accrued purchase of treasury shares 66 211
Accrued excise tax on treasury purchases 572 18
Supplemental Cash Flow Information:    
Income taxes paid $ 18,171 17,946
Interest paid   $ 2