XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net sales $ 504,099 $ 374,605 $ 964,835 $ 717,648
Cost of sales 200,364 142,484 401,054 281,425
Gross margin 303,735 232,121 563,781 436,223
Operating expenses:        
Sales, general and administrative 169,427 119,922 322,096 236,489
Research and development 101,434 71,940 192,531 142,867
Total operating expenses 270,861 191,862 514,627 379,356
Income from operations 32,874 40,259 49,154 56,867
Interest income, net 9,782 9,663 20,156 19,329
Other income (loss), net 7,934 (62,031) 147,000 (46,421)
Income (loss) before provision for income taxes 50,590 (12,109) 216,310 29,775
Provision for (benefit from) income taxes 9,793 (24,529) 42,295 (27,784)
Net income $ 40,797 $ 12,420 $ 174,015 $ 57,559
Net income per common and common equivalent shares:        
Basic (in dollars per share) $ 0.54 $ 0.17 $ 2.31 $ 0.78
Diluted (in dollars per share) $ 0.53 $ 0.16 $ 2.25 $ 0.77
Weighted average number of common and common equivalent shares outstanding:        
Basic (in shares) 75,511 74,224 75,433 73,435
Diluted (in shares) 77,550 75,780 77,346 74,834
Net income $ 40,797 $ 12,420 $ 174,015 $ 57,559
Foreign currency translation adjustments (2,727) (557) (3,528) 1,119
Unrealized gain (loss) on available-for-sale investments 119 (850) 13 (666)
Comprehensive income 38,189 11,013 170,500 58,012
Product        
Net sales 295,185 233,474 567,233 452,863
Cost of sales 145,154 101,192 296,852 208,776
Service        
Net sales 208,914 141,131 397,602 264,785
Cost of sales $ 55,210 $ 41,292 $ 104,202 $ 72,649