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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales $ 374,605 $ 285,613 $ 717,648 $ 542,039
Cost of sales 142,484 111,650 281,425 212,337
Gross margin 232,121 173,963 436,223 329,702
Operating expenses:        
Sales, general and administrative 119,922 95,005 236,489 185,134
Research and development 71,940 57,547 142,867 105,963
Total operating expenses 191,862 152,552 379,356 291,097
Income from operations 40,259 21,411 56,867 38,605
Interest and other income (loss), net (52,368) 47,026 (27,092) 102,325
Income (loss) before provision for income taxes (12,109) 68,437 29,775 140,930
Provision for (benefit from) income taxes (24,529) 17,475 (27,784) 35,097
Net income $ 12,420 $ 50,962 $ 57,559 $ 105,833
Net income per common and common equivalent shares:        
Basic (in dollars per share) $ 0.17 $ 0.72 $ 0.78 $ 1.49
Diluted (in dollars per share) $ 0.16 $ 0.71 $ 0.77 $ 1.46
Weighted average number of common and common equivalent shares outstanding:        
Basic (in shares) 74,224 71,040 73,435 70,995
Diluted (in shares) 75,780 72,283 74,834 72,316
Net income $ 12,420 $ 50,962 $ 57,559 $ 105,833
Foreign currency translation adjustments (557) (2,166) 1,119 (3,238)
Unrealized loss on available-for-sale investments (850) (161) (666) (650)
Comprehensive income 11,013 48,635 58,012 101,945
Product        
Net sales 233,474 200,051 452,863 376,255
Cost of sales 101,192 87,502 208,776 166,854
Service        
Net sales 141,131 85,562 264,785 165,784
Cost of sales $ 41,292 $ 24,148 $ 72,649 $ 45,483