v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 1,286,650 $ 32,615 $ 597,599
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 93,286 89,248 82,660
Stock-based compensation 249,346 266,058 215,889
Deferred income taxes 247,685 (85,553) (158,898)
Other, net 14,857 (9,053) 16,948
(Gain) on equity investments (21,310) (116,025) (43,893)
(Gain) loss on change in fair value of acquisition-related contingent consideration (6,129) 19,803 29,202
Asset impairment 76,275 0 5,631
Changes in operating assets and liabilities:      
Accounts receivable (170,772) (111,586) (98,678)
Prepaid expenses and other assets (156,237) 10,365 (42,491)
Inventory (58,513) (127,633) (170,151)
Accounts payable 6,562 88,159 (167,945)
Accrued and other liabilities (148,202) 278,939 230,614
Net cash provided by operating activities 1,413,498 335,337 496,487
Cash flows from investing activities:      
Purchase of long term investments (7,875) 0 (10,000)
Sale of equity investments 8 284,781 45
Capital expenditures (58,867) (86,263) (32,486)
Payments for intangible assets (25,000) (13,900) (15,000)
Purchases of marketable securities (295,507) (258,370) (456,020)
Maturities of marketable securities 284,631 231,269 305,784
Net cash (used in) provided by investing activities (102,610) 157,517 (207,677)
Cash flows from financing activities:      
Repurchase of Common Stock 0 (2,004,790) 0
Excise tax paid on repurchase of Common Stock (19,100) 0 0
Proceeds from issuance of Common Stock under stock plans 221,762 49,301 35,836
Tax withholdings related to restricted and performance share vesting (76,818) (40,302) (28,550)
Payment of finance lease liabilities (4,544) (3,798) (3,360)
Payment of contingent consideration (20,261) (21,958) (23,959)
Net cash provided by (used in) financing activities 101,039 (2,021,547) (20,033)
Effect of exchange rates on cash, cash equivalents, and restricted cash (1,709) 2,923 (6,676)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,410,218 (1,525,770) 262,101
Cash, cash equivalents, and restricted cash at beginning of period 1,689,451 3,215,221 2,953,120
Cash, cash equivalents, and restricted cash at end of period 3,099,669 1,689,451 3,215,221
Supplemental Schedule of Cash Flow Information      
Cash paid for contract dispute settlement 294,881 0 0
Unpaid purchases of property and equipment 4,929 2,597 5,052
Unpaid excise tax on repurchase of common stock 0 19,185 0
Leased assets obtained in exchange for new operating lease liabilities 3,163 9,674 5,275
Leased assets obtained in exchange for new finance lease liabilities $ 937 $ 8,906 $ 2,257