XML 18 R7.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 32,505 $ 59,955
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,875 8,824
Deferred income taxes 1,037 (4,155)
Stock-based compensation expense 11,324 10,324
Provision for doubtful accounts 65 0
Provision for excess and obsolete inventory 1,998 1,742
Accretion of discounts and premiums on short-term and long-term investments (1,031) (2,254)
Unrealized currency loss (gain) on foreign denominated transactions 1,191 (6,807)
Mark-to-market adjustment on forward exchange contracts (100) 457
Changes in operating assets and liabilities:    
Accounts receivable 12,460 67,459
Inventories (16,692) (16,760)
Prepaid expenses and other current assets (13,737) 1,175
Accounts payable and other current liabilities (5,378) (28,343)
Deferred revenue 10,935 (9,581)
Income taxes (8,529) 1,966
Other assets and liabilities 1,589 (4,480)
Net cash provided by operating activities 36,512 79,522
Cash flows from investing activities    
Expenditures for property, plant and equipment and capitalized software (5,393) (6,945)
Purchases of short-term and long-term investments (223,249) (345,174)
Maturities and sales of short-term investments 211,906 387,975
Net cash (used in) provided by investing activities (16,736) 35,856
Cash flows from financing activities    
Net settlement on restricted stock grants (9,539) (4,152)
Repurchase of common stock (244) (63,515)
Proceeds from Employee Stock Purchase Plan purchases 1,302 1,246
Principal payments on finance lease obligation (768) (676)
Net cash used in financing activities (9,249) (67,097)
Effect of exchange rate changes on cash and cash equivalents (976) 1,935
Net increase in cash, cash equivalents and restricted cash 9,551 50,216
Cash, cash equivalents and restricted cash at beginning of period 156,078 131,064
Cash, cash equivalents and restricted cash at end of period $ 165,629 $ 181,280