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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 128,797 $ 71,049
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,805 13,154
Provision for doubtful accounts 131 271
Asset impairments 1,200 0
Non-cash interest expense 4,025 19,463
Loss on partial settlement of convertibles notes 0 56,382
Deemed repayment of convertible notes attributable to accreted debt discount 0 (15,585)
Change in fair value of debt securities 129 (2,369)
Stock-based compensation 100,861 30,156
Deferred income taxes 15,617 (30,127)
Changes in operating assets and liabilities:    
Accounts receivable 27,546 (98,531)
Inventory (55,866) 4,008
Prepaid expenses and other assets (21,352) (15,194)
Accounts payable, accrued and other liabilities 10,228 46,890
Warranty obligations 22,878 14,025
Deferred revenues 38,094 47,909
Net cash provided by operating activities 303,093 141,501
Cash flows from investing activities:    
Purchases of property and equipment (21,066) (26,368)
Investments in private companies 0 (45,000)
Business acquisitions, net of cash acquired (27,680) (55,239)
Purchases of marketable securities (60,061) 0
Maturities of marketable securities 193,033 0
Net cash provided by (used in) investing activities 84,226 (126,607)
Cash flows from financing activities:    
Issuance of convertible notes, net of issuance costs 0 1,188,439
Purchase of convertible note hedges 0 (286,235)
Sale of warrants 0 220,800
Principal payments and financing fees on debt 0 (1,422)
Partial repurchase of convertible notes 0 (289,312)
Proceeds from exercise of equity awards and employee stock purchase plan 4,587 3,642
Repurchase of common stock 0 (200,000)
Payment of withholding taxes related to net share settlement of equity awards (14,807) (16,998)
Net cash provided by (used in) financing activities (10,220) 618,914
Effect of exchange rate changes on cash and cash equivalents (942) (926)
Net increase in cash and cash equivalents 376,157 632,882
Cash and cash equivalents—Beginning of period 119,316 679,379
Cash and cash equivalents—End of period 495,473 1,312,261
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable 2,783 4,175
Purchase Of Property and Equipment Through Tenant Improvement Allowance 748 0
Contingent consideration in connection with the acquisition $ 0 $ 3,596