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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 133,420 $ 40,498
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,218 60,724
Amortization (accretion) of investments purchased at a premium (discount) 1,513 (1,109)
Provision for credit losses 162 4,471
Asset impairment 1,565 24,141
Non-cash interest expense 3,336 6,462
Net loss from change in fair value of debt securities 12,315 1,730
Stock-based compensation 160,998 159,530
Deferred income taxes 7,137 (27,644)
Changes in operating assets and liabilities:    
Accounts receivable (47,539) 208,956
Inventory (23,648) 54,758
Prepaid expenses and other assets (218,144) (117,856)
Accounts payable, accrued and other liabilities 116,938 (58,140)
Warranty obligations 17,252 (4,855)
Deferred revenues (136,562) (5,265)
Net cash provided by operating activities 88,961 346,401
Cash flows from investing activities:    
Purchases of property and equipment (30,899) (25,540)
Investment in debt securities (6,300) 0
Investment in tax equity fund (9,752) 0
Issuance of loan receivables (48,500) 0
Purchases of marketable securities (601,368) (1,091,511)
Maturities and sale of marketable securities 780,099 994,677
Net cash provided by (used in) investing activities 83,280 (122,374)
Cash flows from financing activities:    
Settlement of Notes due 2025 (102,168) (7)
Proceeds from issuance of common stock under employee equity plans 5,369 7,969
Payment of withholding taxes related to net share settlement of equity awards (16,653) (73,801)
Repurchase of common stock (129,957) (191,698)
Net cash used in financing activities (243,409) (257,537)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 8,932 1,087
Net decrease in cash, cash equivalents and restricted cash (62,236) (32,423)
Cash, cash equivalents and restricted cash — Beginning of period 464,116 288,748
Cash, cash equivalents and restricted cash — End of period 401,880 256,325
Supplemental disclosures of non-cash investing activities:    
Purchases of property and equipment through tenant improvement allowance 855 0
Purchases of property and equipment included in accounts payable $ 4,952 $ 5,722