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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 $ 118,238 $ 68,954
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 25,616 21,147
Depreciation 16,605 15,242
Amortization of intangible assets 3,434 6,490
Deferred income taxes 4,618 (2,786)
Impairment of assets 0 1,071
Change in fair value of earn-out liability 0 (500)
Other 1 29
Change in operating assets and liabilities:    
Accounts receivable 15,695 (268)
Unbilled receivables (1,006) 21,411
Prepaids and other current assets (661) 270
Inventories 6,031 (16,442)
Income taxes receivable (11,350) (9,915)
Accounts payable (8,545) 4,051
Accrued salaries and benefits and other liabilities (2,878) (4,291)
Income taxes payable 9,845 9,647
Deferred revenue (1,272) (1,640)
Operating lease liabilities (2,598) (2,929)
Net cash provided by operating activities 171,773 109,541
Cash flows from investing activities:    
Purchases of property and equipment (14,379) (14,338)
Purchases of marketable securities (303,836) (224,164)
Maturities of marketable securities 178,628 160,756
Proceeds from sales of marketable securities 0 85,722
Proceeds from sale of non-marketable equity security 0 22,796
Net cash provided by (used in) investing activities (139,587) 30,772
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee stock plans 3,743 3,351
Payments of taxes on restricted stock units (34,997) (38,593)
Payments under installment payment arrangements (7,686) (9,048)
Payment of deferred purchase consideration from acquisition 0 (2,450)
Repurchase and retirement of common stock (5,810) (63,312)
Net cash used in financing activities (44,750) (110,052)
Effect of exchange rate changes on cash and cash equivalents 548 (450)
Net increase (decrease) in cash and cash equivalents (12,016) 29,811
Cash and cash equivalents at beginning of period 99,775 94,767
Cash and cash equivalents at end of period 87,759 124,578
Non-cash operating, investing and financing activities:    
Property and equipment received and accrued in accounts payable and other liabilities 25,983 6,865
Operating lease right-of-use assets obtained in exchange for operating lease obligations $ 0 $ 3,034