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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,066,583 $ 1,220,701
Accounts receivable, net of allowance for credit losses of $4,576 and $3,870, and net of allowance for product returns of $2,225 and $2,448 as of September 30, 2025 and December 31, 2024, respectively 110,984 126,082
Inventory 92,298 87,435
Other current assets, net of allowance for credits losses of $749 and $0 as of September 30, 2025 and December 31, 2024, respectively 75,833 47,374
Total current assets 1,345,698 1,481,592
Property and equipment, net 67,438 63,205
Intangible assets, net 71,214 63,159
Goodwill 181,710 154,211
Deferred tax assets 160,883 181,284
Operating lease right-of-use assets 55,515 53,425
Investments in unconsolidated entities 197,696 17,170
Other assets, net of allowance for credit losses of $0 and $1 as of September 30, 2025 and December 31, 2024, respectively 43,436 24,162
Total assets 2,123,590 2,038,208
Current liabilities:    
Accounts payable, accrued expenses and other current liabilities 101,332 139,427
Accrued compensation 29,023 28,739
Deferred revenue 14,387 12,940
Convertible senior notes, net 499,068 0
Operating lease liabilities 10,201 7,700
Total current liabilities 654,011 188,806
Deferred revenue 13,576 13,619
Convertible senior notes, net, noncurrent 488,922 983,477
Operating lease liabilities 69,066 65,534
Other liabilities 14,741 15,479
Total liabilities 1,240,316 1,266,915
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests 56,084 44,747
Stockholders’ equity    
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value, 300,000,000 shares authorized; 53,297,751 and 52,756,077 shares issued; and 49,760,526 and 49,618,346 shares outstanding as of September 30, 2025 and December 31, 2024, respectively 533 528
Additional paid-in capital 544,699 521,192
Treasury stock, at cost; 3,537,225 and 3,137,731 shares as of September 30, 2025 and December 31, 2024, respectively (208,710) (186,291)
Accumulated other comprehensive income 2,526 815
Retained earnings 488,142 390,302
Total stockholders’ equity 827,190 726,546
Total liabilities, redeemable noncontrolling interests and stockholders’ equity $ 2,123,590 $ 2,038,208