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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company’s chief operating decision maker is the Chief Executive Officer (the “CEO”). The Company has one business activity, which entails the design, development, manufacture and sale of solutions for the solar PV industry. There are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, management has determined that the Company has a single operating and reportable segment. The primary measure of segment profit or loss is consolidated net income as presented below and is used by the CEO for the purpose of evaluating segment performance and allocation of budget to support business expansion, new product development and operational efficiencies.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Net revenues | $ | 410,427 |  |  | $ | 380,873 |  |  | $ | 1,129,664 |  |  | $ | 947,670 |
Less: |  |  |  |  |  |  |
Other cost of revenues(1) | 250,964 |  |  | 233,006 |  |  | 699,117 |  |  | 567,550 |
Income-based government grants | (67,627) |  |  | (46,552) |  |  | (182,298) |  |  | (89,498) |
Incremental cost for manufacturing in the United States(2) | 25,151 |  |  | 11,396 |  |  | 60,452 |  |  | 22,228 |
Stock-based compensation expense | 51,469 |  |  | 45,940 |  |  | 160,998 |  |  | 159,530 |
Acquisition related amortization | 4,487 |  |  | 5,006 |  |  | 13,383 |  |  | 15,712 |
Other restructuring and asset impairment charges(3) | 1,287 |  |  | 677 |  |  | 7,183 |  |  | 3,755 |
Other research and development(4) | 26,778 |  |  | 28,053 |  |  | 80,245 |  |  | 86,375 |
Other sales and marketing(5) | 31,044 |  |  | 32,332 |  |  | 91,921 |  |  | 95,527 |
Other general and administrative(6) | 20,715 |  |  | 21,227 |  |  | 63,575 |  |  | 64,003 |
Income from operations | 66,159 |  |  | 49,788 |  |  | 135,088 |  |  | 22,488 |
Total other income, net | 10,860 |  |  | 955 |  |  | 31,029 |  |  | 27,972 |
Income from income taxes | 77,019 |  |  | 50,743 |  |  | 166,117 |  |  | 50,460 |
Income tax provision | (10,381) |  |  | (4,981) |  |  | (32,697) |  |  | (9,962) |
Net Income | $ | 66,638 |  |  | $ | 45,762 |  |  | $ | 133,420 |  |  | $ | 40,498 |
(1) Represents consolidated cost of revenue, excluding stock-based compensation, acquisition related amortization, income-based government grants and incremental costs for manufacturing in the United States. (2) Represents the incremental manufacturing cost incurred in the United States relative to manufacturing in India. This is calculated based on the difference in product cost for manufacturing the product in the United States as compared to India for the same or similar products. It also includes the portion of the income-based government grants earned that the Company remits to its contract manufacturers. (3) Represents consolidated restructuring and asset impairment charges, excluding stock-based compensation. (4) Represents consolidated research and development, excluding stock-based compensation. (5) Represents consolidated sales and marketing, excluding stock-based compensation and acquisition related amortization. (6) Represents consolidated general and administrative, excluding stock-based compensation.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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