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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 32,898 $ 3,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 9,496 13,063
Depreciation 7,723 8,874
Amortization of intangible assets 3,251 3,944
Deferred income taxes (4,252) 2,102
Change in fair value of earn-out liability 700 6,900
Other 39 605
Change in operating assets and liabilities:    
Accounts receivable (4,006) (4,039)
Unbilled receivables 12,831 37,937
Prepaids and other current assets 528 (2,895)
Inventories (11,445) (5,280)
Income taxes receivable (5,158) (390)
Accounts payable 4,072 (8,805)
Accrued salaries and benefits and other liabilities (10,327) (7,547)
Income taxes payable 5,431 (4,396)
Deferred revenue (913) (2,759)
Operating lease liabilities (1,749) (1,689)
Net cash provided by operating activities 39,119 38,906
Cash flows from investing activities:    
Purchases of property, plant, and equipment (3,008) (7,738)
Purchases of marketable securities (112,547) (45,561)
Maturities of marketable securities 100,717 18,134
Proceeds from sales of marketable securities 63,412 24,460
Proceeds from sale of non-marketable equity security 22,796 0
Net cash provided by (used in) investing activities 71,370 (10,705)
Cash flows from financing activities:    
Proceeds received from issuance of common stock under employee stock plans 220 771
Payments of taxes on restricted stock units (37,724) (30,676)
Payments under installment payment arrangements (4,031) (3,227)
Payments for settlement and repurchase of convertible senior notes 0 (10,381)
Payments for settlement of warrants 0 (10,697)
Repurchase and retirement of common stock (50,812) 0
Net cash used in financing activities (92,347) (54,210)
Effect of exchange rate changes on cash and cash equivalents (295) 191
Net increase (decrease) in cash and cash equivalents 17,847 (25,818)
Cash, cash equivalents and restricted cash at beginning of period 94,767 125,694
Cash, cash equivalents and restricted cash at end of period 112,614 99,876
Non-cash operating, investing and financing activities:    
Property, plant and equipment received and accrued in accounts payable and other liabilities (Cumulative amounts of $22.6 million and $37.5 million as of March 31 2024 and 2023, respectively) 3,696 4,252
Operating lease right-of-use assets obtained in exchange for operating lease obligations 1,662 0
Issuance of common stock in connection with the payment of year 1 earn-out related to the PLDA Group acquisition $ 0 $ 5,022