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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income (loss) $ 17,884 $ (29,747) $ 29,325
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation 87,929 70,761 62,771
Depreciation and amortization 17,710 19,550 16,631
Deferred income taxes 12,911 (9,969) (660)
Net accretion of available-for-sale securities (3,697) (5,286) (4,199)
Changes in operating assets and liabilities:      
Accounts receivable, net (20,046) 46,706 (32,222)
Inventory (31,010) 30,258 16,175
Prepaid expenses and other assets 17,297 11,167 (60,795)
Accounts payable 21,509 (15,138) (6,369)
Accrued liabilities 3,017 (31,926) 37,070
Deferred revenue 2,643 (13,900) 2,921
Other long-term liabilities 8,806 (4,076) (4,397)
Net cash provided by operating activities 134,953 68,400 56,251
Investing activities:      
Purchases of property and equipment (19,435) (18,054) (17,855)
Purchases of marketable securities (220,839) (301,677) (216,193)
Sales of marketable securities 28,142 49,902 0
Maturities of marketable securities 205,759 160,299 227,803
Net cash used in investing activities (6,373) (109,530) (6,245)
Financing activities:      
Proceeds from common stock issuances related to employee benefit plans 65,196 31,592 32,149
Repurchases of common stock (93,630) (10,695) (86,397)
Payments related to financing arrangements 0 0 (11,678)
Net cash provided by (used in) financing activities (28,434) 20,897 (65,926)
Effect of exchange rate changes on cash and cash equivalents (222) (14) 256
Net increase (decrease) in cash and cash equivalents 99,924 (20,247) (15,664)
Cash and cash equivalents at beginning of year 43,162 63,409 79,073
Cash and cash equivalents at end of year 143,086 43,162 63,409
Supplemental disclosures of cash flow information:      
Interest paid 0 0 253
Income taxes paid 6,884 5,878 11,873
Non-cash investing activities:      
Changes in accounts payable and accrued liabilities related to purchases of property and equipment $ 3,943 $ 484 $ (180)

Source

10-K XBRL Zip