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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 118,095 $ 76,823
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 10,673 9,874
Depreciation and amortization 2,687 2,443
Amortization of intangible assets 17,762 17,763
Amortization of debt discount 1,846 1,830
Accretion of premium on marketable securities, net (1,709) (2,365)
Realized gain on marketable securities 0 (7)
Lease payments recognized 253 220
Deferred income taxes (2,858) 1,291
Changes in operating assets and liabilities    
Accounts receivable, net and other contract assets 3,834 38,308
Inventories (586) (40,233)
Prepaid expenses and other assets (4,995) 4,795
Accounts payable and accrued expenses 9,219 18,685
Net cash provided by operating activities 154,221 129,427
Investing activities    
Purchases of marketable securities (139,639) (198,763)
Proceeds from sales and maturities of marketable securities 50,167 119,627
Purchases of property and equipment (950) (3,545)
Net cash used in investing activities (90,422) (82,681)
Financing activities    
Taxes paid related to net share settlement, net of proceeds from issuance of common stock under equity incentive plan (3,321) (489)
Net cash used in financing activities (3,321) (489)
Net increase in cash, cash equivalents and restricted cash 60,478 46,257
Cash, cash equivalents and restricted cash at beginning of period 115,850 118,370
Cash, cash equivalents and restricted cash at end of period 176,328 164,627
Supplemental disclosure of non-cash investing and financing activities    
Amounts accrued for purchases of property and equipment 488 1,515
Right-of-use assets obtained in exchange for lease obligation $ 95 $ 1,242