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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net sales $ 2,082,526 $ 1,560,699 $ 1,187,143
Cost of sales 841,146 605,246 461,030
Gross margin 1,241,380 955,453 726,113
Operating expenses:      
Selling, general and administrative 741,247 494,884 399,330
Research and development 441,593 303,719 233,810
Total operating expenses 1,182,840 798,603 633,140
Income from operations 58,540 156,850 92,973
Interest income, net 36,595 42,112 4,294
Other income (loss), net 286,369 (41,901) 98,971
Income before provision for income taxes 381,504 157,061 196,238
Provision for (benefit from) income taxes 4,470 (18,722) 49,308
Net income $ 377,034 $ 175,783 $ 146,930
Net income per common and common equivalent shares:      
Basic (in dollars per share) $ 4.98 $ 2.37 $ 2.07
Diluted (in dollars per share) $ 4.80 $ 2.33 $ 2.03
Weighted average number of common and common equivalent shares outstanding:      
Basic (in shares) 75,748 74,195 71,093
Diluted (in shares) 78,558 75,456 72,534
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME      
Net income $ 377,034 $ 175,783 $ 146,930
Foreign currency translation adjustments (7,874) (4,352) (4,818)
Unrealized gain (loss) on available-for-sale investments 369 852 (1,044)
Comprehensive income 369,529 172,283 141,068
Net sales from products      
Net sales 1,221,292 964,002 797,177
Cost of sales 618,136 447,708 360,909
Net sales from services      
Net sales 861,234 596,697 389,966
Cost of sales $ 223,010 $ 157,538 $ 100,121