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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net sales $ 1,563,391 $ 1,189,935 $ 863,381
Cost of sales 608,009 461,297 322,471
Gross margin 955,382 728,638 540,910
Operating expenses:      
Sales, general and administrative 496,874 401,575 515,007
Research and development 303,719 233,810 194,026
Total operating expenses 800,593 635,385 709,033
Income (loss) from operations 154,789 93,253 (168,123)
Interest income, net 42,112 4,294 1,483
Other income (loss), net (41,901) 98,971 25,265
Income (loss) before provision (benefit) for income taxes 155,000 196,518 (141,375)
Provision (benefit) for income taxes (19,227) 49,379 (81,357)
Net income (loss) $ 174,227 $ 147,139 $ (60,018)
Net income (loss) per share:      
Basic (in dollars per share) $ 2.35 $ 2.07 $ (0.91)
Diluted (in dollars per share) $ 2.31 $ 2.03 $ (0.91)
Weighted average shares outstanding:      
Basic (in shares) 74,195 71,093 66,191
Diluted (in shares) 75,456 72,534 66,191
Net income (loss) $ 174,227 $ 147,139 $ (60,018)
Foreign currency translation adjustments (4,352) (4,818) (1,251)
Unrealized gain (loss) on available-for-sale investments 852 (1,044) (207)
Comprehensive income (loss) 170,727 141,277 (61,476)
Product      
Net sales 967,711 801,388 608,525
Cost of sales 450,718 363,219 260,098
Service      
Net sales 595,680 388,547 254,856
Cost of sales $ 157,291 $ 98,078 $ 62,373