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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,904 $ 17,806
Adjustments to reconcile net income to net cash provided used in operating activities:    
Depreciation and amortization 1,969 2,114
Loss on disposal of fixed assets 0 23
Deferred income tax provision 3,425 0
Stock-based compensation 4,624 2,141
Amortization of debt discount 190 253
Amortization of license revenue (36) (36)
Changes in operating assets and liabilities:    
Accounts receivable (49,413) (22,200)
Inventories (1,953) (4,826)
Prepaid expenses and other current assets (2,596) 1,593
Deposits and other assets 120 (982)
Accounts payable 142 447
Accrued expenses (2,401) 772
Other current and non-current liabilities (650) 677
Net cash used in operating activities (19,675) (2,218)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (4,701) (2,347)
Acquisition of intangible assets (19) (15)
Net cash used in investing activities (4,720) (2,362)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Taxes paid on vested restricted stock units (7,228) (2,476)
Net proceeds from the exercise of stock options 101 1,029
Net cash used in financing activities (7,127) (1,447)
Net decrease in cash and cash equivalents (31,522) (6,027)
Cash and cash equivalents - beginning of period 103,147 51,352
Cash and cash equivalents - end of period $ 71,625 $ 45,325