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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 (loss) income $ (24,158) $ 18,245 $ (57,466)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Depreciation and amortization 40,771 15,997 12,330
Stock-based compensation expense 45,893 50,320 51,219
Net gains on equity securities (1,466) (555) 0
Deferred income taxes (6,228) 1,401 (223)
Accretion of discounts on marketable investment securities (4,219) (6,685) (5,491)
Other 153 268 635
Change in operating assets and liabilities:      
Accounts receivable 6,876 (12,643) (14,930)
Prepaid expenses and other current assets (544) (1,142) (435)
Inventory (2,142) (193) (3,962)
Operating lease assets 1,372 1,322 (258)
Other assets (366) 262 (330)
Accounts payable 3,078 (4,372) 5,707
Operating lease liabilities (1,275) (1,289) 852
Accrued compensation 5,732 3,610 4,587
Other accrued and current liabilities 870 320 2,139
Net cash provided by (used in) operating activities 64,347 64,866 (5,626)
INVESTING ACTIVITIES      
Purchases of marketable investment securities (188,714) (205,729) (189,075)
Proceeds from maturities of marketable investment securities 189,200 183,900 186,500
Proceeds from sale of equity securities 1,533 0 0
Purchases of debt securities classified as held-to-maturity (5,569) 0 0
Asset acquisition, net of cash and cash equivalents acquired (18,727) 0 0
Issuance of loan receivable (2,114) 0 0
Purchases of property and equipment (36,021) (28,326) (13,621)
Proceeds from sale of property and equipment 45 18 13
Net cash used in investing activities (60,367) (50,137) (16,183)
FINANCING ACTIVITIES      
Proceeds from exercise of common stock options 2,206 2,017 269
Payment of employees’ taxes on vested restricted stock units (11,657) (8,762) (5,134)
Proceeds from contributions to the employee stock purchase plan 2,416 2,981 2,709
Repayment of principal portion of finance lease liabilities (115) (97) (142)
Proceeds from lease incentives received 190 0 0
Proceeds from issuance of term debt 0 10,000 0
Net cash (used in) provided by financing activities (6,960) 6,139 (2,298)
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,980) 20,868 (24,107)
Beginning of year 119,709 98,841 122,948
End of year 116,729 119,709 98,841
SUPPLEMENTAL DISCLOSURE OF CASH PAID FOR:      
Interest paid, net of amounts capitalized 59 434 11
Income taxes, net 1,601 2,503 198
DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Asset acquisition, liability for contingent consideration 2,500 0 0
Accrued purchases of property and equipment 11,337 2,231 1,226
Property and equipment acquired with tenant improvement allowance 7,224 1,389 1,281
Operating lease assets obtained in exchange for lease obligations 4,687 607 1,547
Decrease in operating lease assets with corresponding change in lease liabilities (104) (7) 0
Finance lease assets obtained in exchange for lease obligations $ 119 $ 218 $ 0