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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 114,369 $ 82,793
Adjustments to reconcile net income to net cash provided by in operating activities:    
Share-based compensation 17,588 10,377
Depreciation and amortization 5,415 1,921
Amortization of intangibles 35,670 11,403
Amortization of debt discount 3,652 2,082
Amortization of (premium) discounts on marketable securities, net (2,342) 800
Realized loss on marketable securities 0 1,727
Loss on disposal of equipment 517 80
Recognition of deferred revenue (2,404) (1,122)
Lease payments recognized (deferred) 621 (394)
Deferred income taxes 15,381 (372)
Other 0 0
Changes in operating assets and liabilities:    
Accounts receivable, net and other contract assets (15,307) (32,252)
Inventories (31,987) (9,025)
Prepaid expenses and other assets 13,749 (9,319)
Accounts payable and accrued expenses (1,116) 29,323
Net cash provided by operating activities 153,806 88,022
Investing activities    
Purchases of marketable securities (109,919) (225,689)
Proceeds from sales and maturities of marketable securities 114,505 725,995
Acquisition of business, net of cash acquired 0 (999,120)
Purchases of property and equipment (9,754) (1,458)
Proceeds from the sale of assets 0 16,021
Net cash used in investing activities (5,168) (484,251)
Financing activities    
Proceeds from term loan 0 250,000
Proceeds from revolving credit facilities 0 120,000
Repayment of 2024 Convertible Notes (13,483) 0
Payment of debt issuance costs 0 (6,003)
Repurchase of common stock (150,083) 0
Proceeds from issuance of common stock under equity incentive plans, net of taxes paid related to net share settlement 1,398 4,445
Net cash (used in) provided by financing activities (162,168) 368,442
Net decrease in cash, cash equivalents and restricted cash (13,530) (27,787)
Cash, cash equivalents and restricted cash at beginning of period 234,695 119,219
Cash, cash equivalents and restricted cash at end of period 221,165 91,432
Supplemental disclosure of non-cash investing and financing activities:    
Amounts accrued for purchases of property and equipment 655 336
Right-of-use assets obtained in exchange for lease obligation 1,037 217
Common stock issued for conversion of 2024 Convertible Notes $ 125 $ 0