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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ 174,227 $ 147,139 $ (60,018)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation 131,358 106,176 303,331
Deferred income taxes (73,002) 22,090 (81,303)
Realized and unrealized loss (gain) on strategic investments and marketable securities, net 41,785 (98,943) (23,035)
Depreciation and amortization 32,638 24,381 18,694
Bond amortization (16,449) (1,463) 5,217
Noncash lease expense 6,846 6,725 5,573
Unrecognized tax benefits 4,775 3,475 (706)
Amortization of issuance costs 3,126 198  
Other noncash items 2,322 6,530 24
Change in assets and liabilities:      
Accounts and notes receivable and contract assets (172,524) (73,228) (205,769)
Inventory (71,896) (95,987) (18,272)
Prepaid expenses and other assets (102,370) (52,207) (40,158)
Accounts payable, accrued and other liabilities 64,384 80,757 45,301
Deferred revenue 164,043 159,718 175,615
Net cash provided by operating activities 189,263 235,361 124,494
Cash flows from investing activities:      
Purchases of investments (545,988) (764,374) (362,479)
Proceeds from call / maturity of investments 657,418 72,138 718,617
Proceeds from sale of strategic investments     14,546
Purchases of property, plant and equipment (59,635) (55,802) (49,886)
Proceeds from disposal of property and equipment 98 287 43
Purchase of intangible assets (635) (307) (392)
Strategic investments (17,692) (80,805) (45,500)
Business acquisition, net of cash acquired (21,090) (2,104) (22,393)
Net cash provided by (used in) investing activities 12,476 (830,967) 252,556
Cash flows from financing activities:      
Net proceeds from equity offering 94,705 (74) 105,514
Proceeds from options exercised 54,503   51,614
Income and payroll tax payments for net-settled stock awards (107,894) (4,870) (331,309)
Net proceeds from issuance of convertible senior notes   673,769  
Proceeds from issuance of warrants   124,269  
Purchase of convertible note hedge   (194,994)  
Net cash provided by (used in) financing activities 41,314 598,100 (174,181)
Effect of exchange rate changes on cash and cash equivalents 2,065 (3,380) (1,982)
Net increase (decrease) in cash and cash equivalents 245,118 (886) 200,887
Cash and cash equivalents and restricted cash, beginning of period 355,552 356,438 155,551
Cash and cash equivalents and restricted cash, end of period $ 600,670 $ 355,552 $ 356,438