v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (21,779,000) $ (3,952,000)
Adjustments to reconcile net loss to cash provided by (used in) operating activities    
Stock-based compensation 4,396,000 6,106,000
Depreciation and amortization 3,008,000 2,819,000
Accretion (amortization) of discounts (premiums) on investments (329,000) (308,000)
Deferred income taxes (6,160,000) (707,000)
Impairment of long-lived assets 0 353,000
Impairment of goodwill 1,662,000 0
Restructuring - inventory reserve 1,632,000 0
Inventory reserve adjustment 766,000 575,000
Other non-cash adjustments (52,000) (91,000)
Changes in operating assets and liabilities:    
Accounts receivable, net 65,997,000 19,946,000
Contract assets 1,647,000 (17,000)
Inventories, net (22,213,000) (9,320,000)
Prepaid expenses and other assets (2,365,000) (1,063,000)
Accounts payable 5,229,000 1,212,000
Income taxes (2,368,000) (903,000)
Accrued expenses and other liabilities (746,000) (4,319,000)
Contract liabilities (229,000) 1,362,000
Net cash provided by operating activities 28,096,000 11,693,000
Cash flows from investing activities:    
Maturities of marketable securities 38,250,000 60,150,000
Purchases of marketable securities (45,946,000) (22,480,000)
Capital expenditures (2,148,000) (668,000)
Proceeds from sales of fixed assets 13,000 10,000
Net cash (used in) provided by investing activities (9,831,000) 37,012,000
Cash flows from financing activities:    
Net proceeds from issuance of common stock 132,000 1,931,000
Tax payment for employee shares withheld (725,000) (567,000)
Repurchase of common stock (23,047,000) (32,178,000)
Payment of excise tax associated with repurchase of common stock (199,000) (603,000)
Net cash used in financing activities (23,839,000) (31,417,000)
Effect of exchange rate differences on cash and cash equivalents (20,000) 58,000
Net change in cash, cash equivalents and restricted cash (5,594,000) 17,346,000
Cash, cash equivalents and restricted cash, beginning of year 48,076,000 29,757,000
Cash and cash equivalents, end of period $ 42,482,000 $ 47,103,000

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