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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 48,402 $ 39,416
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 12,083 15,094
Bad debt expense (benefit) (1,594) (454)
Stock-based compensation 20,138 21,376
Deferred income tax (10,374) (9,484)
Non-cash lease expense 1,858 2,539
Unrealized foreign currency (gain) loss (995) 589
Provision for inventory obsolescence, net (11,081) (3,028)
Other 11 (1,040)
Changes in operating assets and liabilities:    
Accounts receivable 22,446 27,320
Inventories 4,787 56,928
Prepaid expenses and other current assets 10,762 (16,492)
Other assets (3,479) (122)
Accounts payable 18,335 (42,060)
Accrued expenses, other current liabilities and other non-current liabilities (17,158) (25)
Operating lease liabilities (2,197) (2,799)
Deferred revenue 5,379 3,890
Net cash and cash equivalents provided by operating activities 97,323 91,648
Cash flows from investing activities:    
Purchases of marketable securities 0 (25,442)
Proceeds from Sale and Maturity of Marketable Securities 26,114 25,440
Purchases of property and equipment, including capitalized software development costs (10,594) (9,963)
Net cash and cash equivalents provided by (used in) investing activities 15,520 (9,965)
Cash flows from financing activities:    
Repurchases of common stock (16,741) (20,103)
Employee tax withholding payments on stock-based awards (9,315) (6,541)
Cash dividend (21,493) (1,547)
Net cash and cash equivalents used in financing activities (47,549) (28,191)
Effect of exchange rate on changes in cash and cash equivalents 623 (127)
Net increase in cash and cash equivalents 65,917 53,365
Cash and cash equivalents at beginning of period 232,140 142,187
Cash and cash equivalents at end of period 298,057 195,552
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 10,938 30,389
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 371 477
Property and equipment included in accounts payable, accrued expenses and other current liabilities 2,718 1,545
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 635 659
Stock-based compensation capitalized for software development costs 848 695
Dividends declared but unpaid $ 204,814 $ 122,332