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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income (loss) $ (29,747) $ 29,325 $ 41,010
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation 70,761 62,771 44,826
Depreciation and amortization 19,550 16,631 14,315
Deferred income taxes (9,969) (660) 1,932
Net accretion of available-for-sale securities (5,286) (4,199) (1,146)
Changes in operating assets and liabilities:      
Accounts receivable, net 46,706 (32,222) (8,585)
Inventory 30,258 16,175 (60,280)
Prepaid expenses and other assets 11,167 (60,795) (38,359)
Accounts payable (15,138) (6,369) 12,111
Accrued liabilities (31,926) 37,070 20,919
Deferred revenue (13,900) 2,921 9,118
Other long-term liabilities (4,076) (4,397) (8,678)
Net cash provided by operating activities 68,400 56,251 27,183
Investing activities:      
Purchases of property and equipment (18,054) (17,855) (14,067)
Purchases of marketable securities (301,677) (216,193) (191,403)
Sales of marketable securities 49,902 0 0
Maturities of marketable securities 160,299 227,803 181,388
Net cash used in investing activities (109,530) (6,245) (24,082)
Financing activities:      
Proceeds from common stock issuances related to employee benefit plans 31,592 32,149 27,456
Repurchases of common stock (10,695) (86,397) 0
Payments related to financing arrangements 0 (11,678) (2,393)
Net cash provided by (used in) financing activities 20,897 (65,926) 25,063
Effect of exchange rate changes on cash and cash equivalents (14) 256 (424)
Net increase (decrease) in cash and cash equivalents (20,247) (15,664) 27,740
Cash and cash equivalents at beginning of year 63,409 79,073 51,333
Cash and cash equivalents at end of year 43,162 63,409 79,073
Supplemental disclosures of cash flow information:      
Interest paid 0 253 577
Income taxes paid 5,878 11,873 9,607
Non-cash investing activities:      
Changes in accounts payable and accrued liabilities related to purchases of property and equipment $ 484 $ (180) $ 586