CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 102,745	$ 127,665
Short-term marketable securities	239,481	255,669
Trade receivables, net of allowances	64,567	53,976
Inventory	12,276	12,412
Prepaid expenses and other current assets	24,043	21,880
Total current assets	443,112	471,602
Strategic inventory	7,991	3,583
Operating lease right-of-use asset	4,964	5,324
Property and equipment, net	2,348	2,689
Long-term marketable securities	172,775	219,831
Other assets	8,303	6,610
Deferred tax assets, net	162,229	130,914
Total assets	801,722	840,553
Current liabilities:
Accounts payable	23,525	15,376
Accrued research and development expenses	29,049	33,868
Accrued and other liabilities	91,073	90,700
Short-term operating lease liability	1,017	829
Total current liabilities	144,664	140,773
Long-term operating lease liability	5,588	6,107
Long-term accrued income taxes payable	15,677	14,084
Total liabilities	165,929	160,964
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock	0	0
Common stock	138	136
Treasury stock	(866,931)	(696,173)
Additional paid-in capital	900,864	832,108
Accumulated other comprehensive income (loss)	2,291	(217)
Retained earnings	599,431	543,735
Total stockholders’ equity	635,793	679,589
Total liabilities and stockholders’ equity	$ 801,722	$ 840,553