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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income (loss) $ (10,847) $ 40,838 $ (43,366)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 15,040 13,588 13,623
Stock-based compensation 55,263 56,546 47,986
Restructuring equity modification expense   366  
Accretion of discount or amortization of premium on investments (2,339) (1,122) (1,637)
Amortization of debt issuance costs 1,797 1,638 1,611
Induced conversion expense related to convertible notes 15,026 0 0
Deferred tax expense (396) (567) (931)
Revaluation of acquisition-related contingent consideration liability   986 1,570
Changes in operating assets and liabilities, net of amounts acquired:      
Accounts receivable (13,726) (1,999) (3,713)
Inventory 14,488 (2,220) (49,577)
Prepaid expenses and other assets (727) 227 1,625
Accounts payable (3,376) 9,270 (12,303)
Accrued compensation and employee related benefits (12,512) 13,855 (1,119)
Accrued and other liabilities 984 244 (591)
Acquisition-related contingent consideration liability   (2,556)  
Operating lease right-of-use assets 2,510 2,560 2,607
Operating lease liabilities (2,812) (3,392) (3,308)
Deferred revenue 373 48 (1,859)
Net cash provided by (used in) operating activities 58,746 128,310 (49,382)
Investing activities:      
Purchases of investments (202,771) (202,063)  
Proceeds from sales of investments 12,937   13,372
Proceeds from maturities of investments 154,680 26,605 144,401
Proceeds from sale of property and equipment     234
Purchases of intangible assets     (250)
Purchases of property and equipment (12,861) (17,112) (18,592)
Business acquisitions, net of cash acquired     (23,357)
Net cash provided by (used in) investing activities (48,015) (192,570) 115,808
Financing activities:      
Proceeds from issuance of 2021 Notes, net of issuance costs 183,658    
Premiums paid for capped call transactions (11,210)    
Payment of 2021 Notes (190,000)    
Proceeds from exercise of stock options and employee stock purchase plan 11,795 20,281 8,736
Payments of taxes on restricted stock units (3,171)    
Payment of acquisition-related contingent consideration   (4,602)  
Net cash provided by (used in) financing activities (8,928) 15,679 8,736
Effect of exchange rate changes on cash and cash equivalents 350 (159) 34
Net increase (decrease) in cash and cash equivalents 2,153 (48,740) 75,196
Cash and cash equivalents      
Beginning of period 46,053 94,793 19,597
End of period 48,206 46,053 94,793
Supplemental disclosure of cashflow information:      
Cash paid for interest 2,837 3,234 3,234
Purchases of property and equipment not yet paid 450 $ 763 1,417
Lease liabilities arising from obtaining ROU assets $ 16,762   1,138
26,396 shares of common stock issued for Voyantic Oy acquisition     3,579
Acquisition-related contingent consideration liability     $ 6,172