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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 39,615 $ 60,108
Adjustments to reconcile net income to net cash provided by in operating activities:    
Share-based compensation 7,966 4,742
Depreciation and amortization 2,622 778
Amortization of intangibles 17,835 0
Amortization of debt discount 1,835 971
Amortization of (premium) discounts on marketable securities, net (917) 541
Loss on disposal of equipment 0 80
Recognition of deferred revenue 0 (499)
Lease payments recognized (deferred) 320 (183)
Deferred income taxes 3,874 12,926
Changes in operating assets and liabilities:    
Accounts receivable, net and other contract assets 36,189 (22,787)
Inventories (7,250) 6,298
Prepaid expenses and other assets 8,881 (9,168)
Accounts payable and accrued expenses (24,006) (6,010)
Net cash provided by operating activities 86,964 47,797
Investing activities    
Purchases of marketable securities (109,919) (184,815)
Proceeds from sales and maturities of marketable securities 61,134 136,000
Purchases of property and equipment (11,377) (490)
Net cash used in investing activities (60,162) (49,305)
Financing activities    
Repayment of 2024 Convertible Notes (13,483) 0
Repurchase of common stock (150,083) 0
Proceeds from issuance of common stock under equity incentive plans, net of taxes paid related to net share settlement (1,048) 624
Net cash (used in) provided by financing activities (164,614) 624
Net decrease in cash, cash equivalents and restricted cash (137,812) (884)
Cash, cash equivalents and restricted cash at beginning of period 234,695 119,219
Cash, cash equivalents and restricted cash at end of period 96,883 118,335
Supplemental disclosure of non-cash investing and financing activities:    
Amounts accrued for purchases of property and equipment 390 309
Right-of-use assets obtained in exchange for lease obligation 406 0
Common stock issued for conversion of 2024 Convertible Notes $ 125 $ 0