v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 59,858 $ 60,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 11,453 11,383
Depreciation 9,601 8,122
Amortization of intangible assets 1,675 1,713
Deferred income taxes 3,942 1,922
Other 518 4
Change in operating assets and liabilities:    
Accounts receivable 28,134 3,718
Unbilled receivables 674 1,923
Prepaids and other current assets (1,498) (856)
Inventories (14,326) (67)
Income taxes receivable 466 (5,951)
Accounts payable 2,291 (1,913)
Accrued salaries and benefits and other liabilities (11,335) (6,822)
Income taxes payable (696) 5,122
Deferred revenue (5,971) 153
Operating lease liabilities (1,577) (1,340)
Net cash provided by operating activities 83,209 77,414
Cash flows from investing activities:    
Purchases of property and equipment (11,635) (7,872)
Purchases of marketable securities (255,812) (91,168)
Maturities of marketable securities 182,139 90,675
Net cash used in investing activities (85,308) (8,365)
Cash flows from financing activities:    
Payments of taxes related to net share settlement of equity awards (38,377) (30,807)
Payments under installment payment arrangements (5,317) (3,799)
Repurchase and retirement of common stock (2,569) (2,157)
Net cash used in financing activities (46,263) (36,763)
Effect of exchange rate changes on cash and cash equivalents (140) 124
Net increase (decrease) in cash and cash equivalents (48,502) 32,410
Cash and cash equivalents at beginning of period 182,826 99,775
Cash and cash equivalents at end of period 134,324 132,185
Non-cash investing and financing activities:    
Property and equipment received and accrued in accounts payable and other liabilities $ 4,481 $ 8,716