v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (49,198) $ 27,522
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 15,166 13,285
Stock-based compensation 23,129 25,589
Impairment charge 76,945 0
Inventory write-downs 36,184 1,399
Deferred taxes (23,736) (2,450)
Other 701 3,587
Changes in operating assets and liabilities:    
Accounts receivable (2,029) (8,421)
Inventories (22,953) (25,758)
Prepaid expenses and other current and non-current assets 2,140 (5,901)
Accounts payable 5,492 (259)
Accrued expenses and other non-current liabilities (935) 1,635
Net cash provided by (used in) operating activities 60,906 30,228
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of non-marketable investments (10,000) 0
Purchases of marketable investments (11,308) (15,194)
Proceeds from maturities of marketable investments 82,926 27,970
Purchases of property and equipment (10,360) (8,236)
Other 1,600 (500)
Net cash provided by (used in) investing activities 52,858 4,040
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 299 3,823
Proceeds from issuance of stock under employee stock purchase plan 8,861 8,385
Payment of employee taxes related to vested stock (510) (1,026)
Payments of finance lease obligations (1,109) (957)
Other (61) (155)
Net cash provided by financing activities 7,480 10,070
Effect of foreign exchange rate changes on cash and cash equivalents (398) (29)
NET INCREASE IN CASH AND CASH EQUIVALENTS 120,846 44,309
CASH AND CASH EQUIVALENTS—Beginning of period 167,486 69,858
CASH AND CASH EQUIVALENTS—End of period 288,332 114,167
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 864 1,155
Right-of-use assets obtained in exchange for finance lease obligations 25 76
Purchase of property and equipment funded through accounts payable and accrued liabilities 1,414 1,468
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 11,013 9,816
Cash paid for income taxes $ 9,543 $ 2,946