Rambus (RMBS) 10-K23 Feb 242023 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-22339
Entity Registrant Name	RAMBUS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3112828
Entity Address, Address Line One	4453 North First Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	462-8000
Title of 12(b) Security	Common Stock, $.001 Par Value
Trading Symbol	RMBS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 5
Entity Common Stock, Shares Outstanding		107,887,603
Documents Incorporated by Reference	Certain information is incorporated into Part III of this report by reference to the Proxy Statement for the Registrant’s annual meeting of stockholders to be held on or about April 25, 2024 to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Form 10-K.
Entity Central Index Key	0000917273
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Auditor Firm ID	238

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Jose, California
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 94,767	$ 125,334
Marketable securities	331,077	187,892
Accounts receivable	82,925	55,368
Unbilled receivables	50,872	125,698
Inventories	36,154	20,900
Prepaids and other current assets	34,850	12,022
Total current assets	630,645	527,214
Intangible assets, net	28,769	50,880
Goodwill	286,812	292,040
Property, plant and equipment, net	67,808	86,255
Operating lease right-of-use assets	21,497	24,143
Unbilled receivables	4,423	25,222
Deferred tax assets	127,892	3,031
Income tax receivable	88,768	1,064
Other assets	1,613	2,745
Total assets	1,258,227	1,012,594
Current liabilities:
Accounts payable	18,074	24,815
Accrued salaries and benefits	17,504	20,502
Convertible notes	0	10,378
Deferred revenue	17,393	23,861
Income taxes payable	5,099	18,137
Operating lease liabilities	4,453	5,024
Other current liabilities	26,598	23,992
Total current liabilities	89,121	126,709
Long-term operating lease liabilities	26,255	29,079
Long-term income taxes payable	78,947	5,892
Deferred tax liabilities	4,462	24,964
Other long-term liabilities	21,341	46,653
Total liabilities	220,126	233,297
Commitments and contingencies (Notes 10, 13 and 19)
Stockholders’ equity:
Convertible preferred stock, $.001 par value: Authorized: 5,000,000 shares; Issued and outstanding: no shares at December 31, 2023 and December 31, 2022	0	0
Common Stock, $.001 par value: Authorized: 500,000,000 shares; Issued and outstanding: 107,853,778 shares at December 31, 2023 and 107,610,356 shares at December 31, 2022	108	108
Additional paid in capital	1,324,796	1,297,408
Accumulated deficit	(285,534)	(513,256)
Accumulated other comprehensive loss	(1,269)	(4,963)
Total stockholders’ equity	1,038,101	779,297
Total liabilities and stockholders’ equity	$ 1,258,227	$ 1,012,594

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Stockholders’ equity:
Convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock, authorized shares	5,000,000	5,000,000
Convertible preferred stock, issued shares	0	0
Convertible preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	500,000,000	500,000,000
Common stock, issued shares	107,853,778	107,610,356
Common stock, outstanding shares	107,853,778	107,610,356

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue
Revenue	$ 461,117	$ 454,793	$ 328,304
Cost of revenue
Cost of product revenue	84,495	88,976	49,397
Cost of contract and other revenue	5,403	4,668	4,756
Amortization of acquired intangible assets	13,524	13,935	16,241
Cost of revenue	103,422	107,579	70,394
Gross profit	357,695	347,214	257,910
Operating expenses
Research and development	156,827	158,769	135,678
Sales, general and administrative	108,149	106,718	91,057
Amortization of acquired intangible assets	1,217	1,674	1,226
Restructuring and other charges	9,368	0	368
Gain on divestiture	(90,784)	0	0
Impairment of assets	10,045	0	0
Change in fair value of earn-out liability	9,234	3,111	5,300
Total operating expenses	204,056	270,272	233,629
Operating income	153,639	76,942	24,281
Interest income and other income (expense), net	11,327	7,771	9,711
Gain on sale of equity security	0	3,547	0
Loss on extinguishment of debt	0	(83,626)	0
Loss on fair value adjustment of derivatives, net	(240)	(10,585)	0
Gain on sale of non-marketable equity security, gross	23,924
Interest expense	(1,490)	(1,874)	(10,706)
Interest and other income (expense), net	33,521	(84,767)	(995)
Income (loss) before income taxes	187,160	(7,825)	23,286
Provision for (benefit from) income taxes	(146,744)	6,485	4,952
Net income (loss)	$ 333,904	$ (14,310)	$ 18,334
Net income (loss) per share:
Basic net income (loss) per share	$ 3.09	$ (0.13)	$ 0.17
Diluted net income (loss) per share	$ 3.01	$ (0.13)	$ 0.16
Weighted-average shares used in per share calculations:
Basic (in shares)	108,183	109,472	110,538
Diluted (in shares)	110,889	109,472	114,865
Product revenue
Revenue
Revenue	$ 224,632	$ 227,068	$ 143,935
Royalties
Revenue
Revenue	150,110	139,816	136,706
Contract and other revenue
Revenue
Revenue	$ 86,375	$ 87,909	$ 47,663

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 333,904	$ (14,310)	$ 18,334
Other comprehensive income (loss):
Foreign currency translation adjustment	282	(958)	(366)
Unrealized gain (loss) on marketable securities, net of tax	3,412	(2,553)	(1,005)
Total comprehensive income (loss)	$ 337,598	$ (17,821)	$ 16,963

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative effect, period of adoption, adjustment	Common stock	Additional paid-in capital	Additional paid-in capital Cumulative effect, period of adoption, adjustment	Accumulated deficit	Accumulated deficit Cumulative effect, period of adoption, adjustment	Accumulated other comprehensive gain (loss)
Balance (in shares) at Dec. 31, 2020			111,698
Balance at Dec. 31, 2020	$ 912,706		$ 112	$ 1,270,426		$ (357,751)		$ (81)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	18,334					18,334
Foreign currency translation adjustment	(366)							(366)
Unrealized gain (loss) on marketable securities, net of tax	(1,005)							(1,005)
Issuance of common stock upon exercise of options, equity stock and stock units, and employee stock purchase plan (in shares)			1,745
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	(1,656)		$ 1	(1,657)
Stock issued during period, shares, acquisition			300
Stock issued during period, value, acquisition	6,978			6,978
Repurchase and retirement of common stock under repurchase plan, shares			(4,451)
Repurchase and retirement of common stock under repurchase plan, value	(100,081)		$ (4)	(4,267)		(95,810)
Stock-based compensation	27,486			27,486
Balance (in shares) at Dec. 31, 2021			109,292
Balance at Dec. 31, 2021	862,396		$ 109	1,298,966		(435,227)		(1,452)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(14,310)					(14,310)
Foreign currency translation adjustment	(958)							(958)
Unrealized gain (loss) on marketable securities, net of tax	(2,553)							(2,553)
Issuance of common stock upon exercise of options, equity stock and stock units, and employee stock purchase plan (in shares)			1,513
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	(12,277)		$ 2	(12,279)
Repurchase and retirement of common stock under repurchase plan, shares			(3,195)
Repurchase and retirement of common stock under repurchase plan, value	(100,421)		$ (3)	(10,278)		(90,140)
Stock-based compensation	35,552			35,552
Adjustments to additional paid in capital, retirement of convertible senior note hedges	78,415			78,415
Adjustments to additional paid in capital, retirement of warrants	(58,423)			(58,423)
Balance (in shares) at Dec. 31, 2022			107,610
Balance at Dec. 31, 2022	779,297		$ 108	1,297,408		(513,256)		(4,963)
Balance (Accounting Standards Update 2020-06) at Dec. 31, 2022		$ (8,124)			$ (34,545)		$ 26,421
Increase (Decrease) in Stockholders' Equity
Net income (loss)	333,904					333,904
Foreign currency translation adjustment	282							282
Unrealized gain (loss) on marketable securities, net of tax	3,412							3,412
Issuance of common stock upon exercise of options, equity stock and stock units, and employee stock purchase plan (in shares)			1,698
Issuance of common stock upon exercise of options, equity stock and employee stock purchase plan	(29,378)		$ 1	(29,379)
Repurchase and retirement of common stock under repurchase plan, shares			(1,859)
Repurchase and retirement of common stock under repurchase plan, value	(100,526)		$ (1)	(5,783)		(94,742)
Stock-based compensation	45,011			45,011
Issuance of common stock in connection with the payments of year 1 and year 2 earn-out related to the PLDA Group acquisition (in shares)			405
Issuance of common stock in connection with the payments of year 1 and year 2 earn-out related to the PLDA Group acquisition	16,556			16,556
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)			284
Exercise of the convertible senior note hedges in connection with the conversion of convertible senior notes and retirement of the corresponding shares (in shares)			(284)
Exercise of the convertible senior note hedges in connection with the conversion of convertible senior notes and retirement of the corresponding shares				11,440		(11,440)
Adjustments to additional paid in capital, retirement of warrants	(10,457)			(10,457)
Balance (in shares) at Dec. 31, 2023			107,854
Balance at Dec. 31, 2023	$ 1,038,101		$ 108	$ 1,324,796		$ (285,534)		$ (1,269)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 333,904	$ (14,310)	$ 18,334
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	45,011	35,552	27,486
Depreciation	33,687	31,517	26,810
Amortization of intangible assets	14,741	15,610	17,467
Non-cash interest expense and amortization of convertible debt issuance costs	3	207	7,656
Loss on extinguishment of debt	0	83,626	0
Loss on fair value adjustment of derivatives, net	240	10,585	0
Deferred income taxes	(145,350)	689	1,522
Gain on divestiture	(90,784)	0	0
Gain on sale of non-marketable equity security	(23,924)	0	0
Impairment of assets	10,045	0	0
Gain on sale of equity security	0	(3,547)	0
Change in fair value of earn-out liability	9,234	3,111	5,300
Other	645	2,413	989
Change in operating assets and liabilities, net of effects of acquisition/disposition:
Accounts receivable	(28,931)	(9,274)	(13,521)
Unbilled receivables	93,796	107,945	118,452
Prepaid expenses and other assets	2,763	(89)	6,903
Inventories	(15,254)	(12,702)	6,109
Income taxes receivable	(87,704)	(618)	(240)
Accounts payable	(5,768)	11,975	2,195
Accrued salaries and benefits and other liabilities	41	(4,745)	(1,642)
Income taxes payable	59,643	(19,279)	(25,309)
Deferred revenue	(5,048)	(1,354)	15,496
Operating lease liabilities	(5,204)	(6,919)	(4,790)
Net cash provided by operating activities	195,786	230,393	209,217
Cash flows from investing activities:
Purchases of property, plant and equipment	(23,240)	(17,478)	(13,792)
Acquisition of intangible assets	0	(3,000)	0
Purchases of marketable securities	(434,155)	(150,949)	(567,947)
Maturities of marketable securities	175,854	59,642	336,154
Proceeds from sale of marketable securities	117,798	276,687	227,045
Proceeds from divestiture	106,347	0	0
Proceeds from sale of equity security	0	3,009	0
Acquisition of businesses, net of cash acquired	0	(15,932)	(97,115)
Net cash provided by (used in) investing activities	(57,396)	151,979	(115,655)
Cash flows from financing activities:
Proceeds received from issuance of common stock under employee stock plans	8,950	6,136	8,957
Payments of taxes on restricted stock units	(38,328)	(18,413)	(10,613)
Payments under installment payment arrangements	(16,192)	(14,378)	(12,472)
Payments for settlement and repurchase of convertible senior notes	(10,381)	(258,060)	0
Proceeds from retirement of convertible senior note hedges	0	91,729	0
Payments for settlement of warrants	(10,697)	(69,528)	0
Payment of deferred purchase consideration from acquisition	(2,450)	0	0
Repurchase and retirement of common stock, including prepayment under accelerated share repurchase program	(100,525)	(100,421)	(100,081)
Net cash used in financing activities	(169,623)	(362,935)	(114,209)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	306	(2,007)	(413)
Net increase (decrease) in cash, cash equivalents and restricted cash	(30,927)	17,430	(21,060)
Cash, cash equivalents and restricted cash at beginning of year	125,694	108,264	129,324
Cash, cash equivalents and restricted cash at end of year	94,767	125,694	108,264
Cash paid during the period for:
Interest	73	1,525	2,372
Income taxes, net of refunds	25,932	25,275	22,839
Non-cash investing and financing activities:
Property, plant and equipment received and accrued in accounts payable and other liabilities	21,768	39,035	12,935
Issuance of common stock in connection with the payments of year 1 and year 2 earn-out related to the PLDA Group acquisition	16,556	0	0
Operating lease right-of-use assets obtained in exchange for operating lease obligations	$ 1,690	$ 5,931	$ 0
Common stock issued pursuant to acquisition	0	0	6,978

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 94,767	$ 125,334	$ 107,891
Restricted cash	0	360	373
Cash, cash equivalents, restricted cash	$ 94,767	$ 125,694	$ 108,264

Formation and Business of the C

Formation and Business of the Company	12 Months Ended
Formation and Business of the Company	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Formation and Business of the Company	Formation and Business of the Company Rambus Inc. (“Rambus” or the “Company”) was incorporated in California in March 1990 and reincorporated in Delaware in March 1997. The Company offers a balanced and diverse portfolio of products and solutions across chips, silicon intellectual products (“IP”) and patent licensing with the goal of perpetuating strong company operating performance and delivering long-term stockholder value. The Company generates revenue by selling its semiconductor chip and licensing its IP products and inventions to market-leading companies.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Financial Statement Presentation The accompanying consolidated financial statements include the accounts of Rambus and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated on the accompanying consolidated financial statements. Investments in entities with more than 20% ownership by Rambus and in which Rambus has the ability to significantly influence the operations of the investee (but not control) are accounted for using the equity method and are included in other assets. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods and services in an amount that reflects the consideration it expects to receive in exchange for those goods and services. Goods and services that are distinct are accounted for as separate performance obligations. Where an arrangement includes multiple performance obligations, the transaction price is allocated to these on a relative standalone selling price basis. The Company has established standalone selling prices for the majority of its distinct offerings - specifically, the same pricing methodology is consistently applied to all licensing arrangements; all services offerings are priced within tightly controlled bands and all contracts that include support and maintenance state a renewal rate or price that is systematically enforced. For certain contracts, the Company utilizes the residual approach to estimate standalone selling prices primarily for service offerings sold to customers at highly variable pricing. The Company’s revenue consists of product, royalty and contract and other revenue. Products primarily consist of memory interface chips sold directly and indirectly to module manufacturers and OEMs worldwide through multiple channels, including its direct sales force and distributors. Royalty revenue consists of patent and technology license royalties. Contract and other revenue consists of software license fees, engineering fees associated with integration of the Company’s technology solutions into its customers’ products and support and maintenance fees. Product Revenue Product revenue is recognized upon shipment of product to customers, net of accruals for estimated sales returns and allowances, and to distributors, net of accruals for price protection and rights of return on products unsold by the distributors. The Company transacts with direct customers primarily pursuant to standard purchase orders for delivery of products and generally allows customers to cancel or change purchase orders within limited notice periods prior to the scheduled shipment date. Royalty Revenue Rambus’ patent and technology licensing arrangements generally range between one year and ten years in duration and generally grant the licensee the right to use applicable portions of the Company’s entire IP portfolio as it evolves over time. These arrangements do not typically grant the licensee the right to terminate for convenience and where such rights exist, termination is prospective, with no refund of fees already paid or cancellation of fees already incurred by the licensee. Patent and technology licensing arrangements result in fixed payments received over time, with guaranteed minimum payments on occasion, variable payments calculated based on the licensee’s sale or use of the IP, or a mix of fixed and variable payments. • For fixed-fee arrangements (including arrangements that include minimum guaranteed amounts), the Company recognizes revenue upon control over the underlying IP use right transferring to the licensee, net of the effect of significant financing components calculated using customer-specific, risk-adjusted lending rates typically ranging between 5% and 10%, with the related interest income recognized over time on an effective rate basis. Where a licensee has the contractual right to terminate a fixed-fee arrangement for convenience without any substantive penalty payable upon such termination, the Company recognizes revenue for the duration of the contract in which the parties have present enforceable rights and obligations. • For variable arrangements, the Company recognizes revenue based on an estimate of the licensee’s sale or usage of the IP during the period the licensee’s sale or usage occur, typically quarterly, with a true-up recorded, if required, when the Company receives the actual royalty report from the licensee. • The Company recognizes license renewal revenue commencing with the start of the renewal period. Contract and Other Revenue Contract and other revenue consists of software license fees and engineering fees associated with integration of the Company’s technology solutions into its customers’ products, and support and maintenance. An initial software arrangement may consist of a term-based or perpetual license, significant software customization services and support and maintenance services that include post-implementation customer support and the right to unspecified software updates and enhancements on a when and if available basis. The Company recognizes license and customization services revenue at a point in time when final delivery is made or based on an over time model, depending on the nature and amount of customization. For the over time model, the Company recognizes revenue over time by measuring the progress toward complete satisfaction of that performance obligation. The Company measures progress using an input method. License and customization services revenue recognized over time, which is reported as part of contract and other revenue, was approximately $6.1 million for the year ended December 31, 2023. Due to the nature of the work performed in these arrangements, the estimation of the over time model may involve judgment. The key factor reviewed by management to estimate costs to complete each contract is the estimated man-months necessary to complete the project. The Company recognizes support and maintenance revenue over time. Significant Judgments The only significant judgment required in determining the amount and timing of revenue from the Company’s contracts with customers is determining the estimated man-months necessary for completing development and customization services. The Company has adequate tools and controls in place, and substantial experience and expertise in timely and accurately tracking man-months incurred in completing customization and other professional services, and quantifying significant changes in estimates. Key estimates used in recognizing revenue predominantly consist of the following: • For contract revenue where the Company recognizes revenue over time, the key factor reviewed by management to estimate costs to complete each contract is the estimated man-months necessary to complete the project. • For fixed-fee arrangements in which cash is being received over a period exceeding one year, the Company calculates a customer-specific lending rate using a Daily Treasury Yield Curve Rate that changes depending on the date on which the licensing arrangement was entered into and the term (in years) of the arrangement, and takes into consideration a licensee-specific risk profile determined based on a review of the licensee’s “Full Company View” Dun & Bradstreet report obtained on the date the licensing arrangement was signed by the parties, with a risk premium being added to the Daily Treasury Yield Curve Rate considering the overall business risk, financing strength and risk indicators, as listed. • The Company recognizes revenue on variable fee licensing arrangements on the basis of sales and usage which the Company is required to estimate prior to receiving the final related reports from its customers. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to the Company’s customers. The Company records contract assets when revenue is recognized prior to invoicing, and a contract liability when revenue is recognized subsequent to invoicing. The contract assets are transferred to receivables when the billing occurs. Cost of Revenue Cost of revenue includes cost of professional services, materials, including cost of wafers processed by third-party foundries, cost associated with packaging and assembly, test and shipping, cost of personnel, including stock-based compensation, and equipment associated with manufacturing support, logistics and quality assurance, warranty cost, amortization of existing technology, write-down of inventories, amortization of production mask costs, overhead and an allocated portion of occupancy costs. Leases The Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and seven years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities and long-term operating lease liabilities in the Company’s Consolidated Balance Sheets. The Company does not have any finance leases. The Company determines if an arrangement is a lease, or contains a lease, at inception. The Company assesses all relevant facts and circumstances in making the determination of the existence of a lease. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments over the term. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments, and uses the implicit rate when readily determinable. Many of the Company’s leases include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and the Company does not separate non-lease components from lease components. Operating lease costs are included in research and development and selling, general and administrative costs in the Company’s Consolidated Statements of Operations. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill is not subject to amortization, but is subject to at least an annual assessment for impairment. The Company performs its impairment analysis of goodwill on an annual basis during the fourth quarter of the year unless conditions arise that warrant a more frequent evaluation. When goodwill is assessed for impairment, the Company has the option to perform an assessment of qualitative factors of impairment (optional assessment) prior to necessitating a quantitative impairment test. Should the optional assessment be used for any given year, qualitative factors to consider for a reporting unit include: cost factors; financial performance; legal, regulatory, contractual, political, business, or other factors; entity specific factors; industry and market considerations; macroeconomic conditions; and other relevant events and factors affecting the reporting unit. If the Company determines in the qualitative assessment that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For a reporting unit tested using a quantitative approach, the Company compares the fair value of the reporting unit with the carrying amount of the reporting unit, including goodwill. The fair value of the reporting unit is estimated using an income approach. Under the income approach, the Company measures fair value of the reporting unit based on a projected cash flow method using a discount rate determined by its management which is commensurate with the risk inherent in its current business model. The Company’s discounted cash flow projections are based on annual financial forecasts developed internally by management for use in managing its business. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, then the amount of goodwill impairment will be the amount by which the reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company performed its annual goodwill impairment analysis as of December 31, 2023 and determined that there was no impairment of its goodwill. For the years ended December 31, 2022 and 2021, the Company did not recognize any goodwill impairment charges. Intangible Assets Intangible assets are comprised of existing technology, customer contracts and contractual relationships, and other definite-lived and indefinite-lived intangible assets. Identifiable intangible assets resulting from the acquisitions of entities accounted for using the purchase method of accounting are estimated by management based on the fair value of assets received. Identifiable definite-lived intangible assets are being amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from six months to ten Acquired indefinite-lived intangible assets related to the Company’s in-process research and development (“IPR&D”) are capitalized and subject to impairment testing until completion or abandonment of the projects. Upon successful completion of each project, the Company makes a separate determination of the useful life of the acquired indefinite-lived intangible assets and the related amortization is recorded as an expense over the estimated useful life of the specific projects. Indefinite-lived intangible assets are subject to at least an annual assessment for impairment, applying a fair-value based test. The Company first performs a qualitative assessment to determine whether it is more likely than not (more than 50 percent likelihood) that the indefinite-lived intangible assets are impaired. If after assessing the totality of events and circumstances and their potential effect on significant inputs to the fair value determination, the Company determines that it is more likely than not that the indefinite-lived intangible assets are impaired, then the Company performs a quantitative impairment test by comparing the fair value of the intangible assets with its carrying amount. The Company measures fair value of the indefinite-lived intangible assets under the income approach based on a projected cash flow method using a discount rate determined by its management which is commensurate with the risk inherent in its current business model. The Company’s discounted cash flow projections are based on its annual financial forecasts developed internally by management for use in managing its business. If the fair value of the indefinite-lived intangible assets exceeds its carrying value, the indefinite-lived intangible assets are not impaired and no further testing is required. If the implied fair value of the indefinite-lived intangible assets is less than the carrying value, the difference is recorded as an impairment loss. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Inventories are reduced for write-downs based on periodic reviews for evidence of slow-moving or obsolete parts. The write-down is based on comparison between inventory on hand and estimated future sales for each specific product. Once written down, inventory write-downs are not reversed until the inventory is sold or scrapped. Inventory write-downs are also established when conditions indicate that the net realizable value is less than cost due to physical deterioration, obsolescence, changes in price level or other causes. Property, Plant and Equipment Property, plant and equipment include computer software, computer equipment, leasehold improvements, machinery, and furniture and fixtures. Computer software, computer equipment, machinery, and furniture and fixtures are stated at cost and generally depreciated on a straight-line basis over an estimated useful life of three years, three years, seven years and three years, respectively. Refer to Note 11, “Balance Sheet Details,” for additional information. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the remaining terms of the leases. Upon disposal, assets and related accumulated depreciation are removed from the accounts and the related gain or loss is included in the results from operations. Definite-Lived Asset Impairment The Company evaluates definite-lived assets (including property, plant and equipment and intangible assets) for impairment whenever events or changes in circumstances indicate the carrying value of an asset group may not be recoverable. The carrying value is not recoverable if it exceeds the undiscounted cash flows resulting from the use of the asset group and its eventual disposition. The Company’s estimates of future cash flows attributable to its asset groups require significant judgment based on its historical and anticipated results and are subject to many factors. Factors that the Company considers important which could trigger an impairment review include significant negative industry or economic trends, significant loss of clients and significant changes in the manner of its use of the acquired assets or the strategy for its overall business. When the Company determines that the carrying value of the asset groups may not be recoverable based upon the existence of one or more of the above indicators of impairment, the Company measures the potential impairment based on a projected discounted cash flow method using a discount rate determined by the Company to be commensurate with the risk inherent in the Company’s current business model. An impairment loss is recognized only if the carrying amount of the asset group is not recoverable and exceeds its fair value. The impairment charge is recorded to reduce the pre-impairment carrying amount of the assets based on the relative carrying amount of those assets, though not to reduce the carrying amount of an asset below its fair value. Different assumptions and judgments could materially affect the calculation of the fair value of the assets. During 2023, 2022 and 2021, the Company did not recognize any impairment of its definite-lived and indefinite-lived assets. Income Taxes Income taxes are accounted for using an asset and liability approach, which requires the recognition of deferred tax assets and liabilities for expected future tax events that have been recognized differently in the Company’s consolidated financial statements and tax returns. The measurement of current and deferred tax assets and liabilities is based on provisions of the enacted tax law and the effects of future changes in tax laws or rates are not anticipated. A valuation allowance is established when necessary to reduce deferred tax assets to amounts expected to be realized based on available evidence. In addition, the calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations. As a result, the Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in its tax return. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes. Stock-Based Compensation and Equity Incentive Plans The Company maintained stock plans covering a broad range of equity grants including stock options, nonvested equity stock and equity stock units and performance-based instruments. In addition, the Company sponsors an Employee Stock Purchase Plan (“ESPP”), whereby eligible employees are entitled to purchase common stock semi-annually, by means of limited payroll deductions, at a 15% discount from the fair market value of the common stock as of specific dates. The Company determines compensation expense associated with restricted stock units based on the fair value of its common stock on the date of grant. The Company determines compensation expense associated with stock options based on the estimated grant-date fair value method using the Black-Scholes Merton (“BSM”) valuation model. The Company generally recognizes compensation expense using a straight-line amortization method over the respective vesting period for awards that are ultimately expected to vest. Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 has been reduced for estimated forfeitures. When estimating forfeitures, the Company considers voluntary termination behaviors, as well as trends of actual option forfeitures. Cash and Cash Equivalents Cash equivalents are investments with original maturity of three months or less at the date of purchase. The Company maintains its cash balances with high-quality financial institutions. Cash equivalents are invested in highly rated, liquid money market securities, time deposits and certain U.S. government sponsored obligations. Marketable Securities Rambus invests its excess cash and cash equivalents primarily in U.S. government-sponsored obligations, corporate bonds, commercial paper and notes, time deposits and money market funds that mature within three years. Available-for-sale securities are carried at fair value, based on quoted market prices, with the unrealized gains or losses reported, net of tax, in stockholders’ equity as part of accumulated other comprehensive income (loss). The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, both of which are included in interest and other income, net. Realized gains and losses are recorded on the specific identification method and are included in interest and other income, net. The Company reviews its investments in marketable securities for possible other than temporary impairments on a regular basis. If any loss on investment is believed to be a credit loss, a charge will be recognized in operations. In evaluating whether a credit loss on a debt security has occurred, the Company considers the following factors: 1) the Company’s intent to sell the security, 2) if the Company intends to hold the security, whether or not it is more likely than not that the Company will be required to sell the security before recovery of the security’s amortized cost basis and 3) even if the Company intends to hold the security, whether or not the Company expects the security to recover the entire amortized cost basis. Due to the high credit quality and short-term nature of the Company’s investments, there have been no material credit losses recorded to date. The classification of funds between short-term and long-term is based on whether the securities are available for use in operations or other purposes. Fair Value of Financial Instruments The fair value measurement statement defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and requires disclosure that establishes a framework for measuring fair value and expands disclosure about fair value measurements. The statement requires that fair value measurement be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company uses unadjusted quotes to determine fair value. The financial assets in Level 1 include money market funds. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. The Company uses observable pricing inputs including benchmark yields, reported trades and broker/dealer quotes. The financial assets in Level 2 include U.S. government bonds and notes, and corporate bonds, commercial paper and notes. Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, and the Company considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of non-performance. The Company does not have any financial assets or liabilities in Level 3 as of December 31, 2023 and 2022, except for the Company’s liability for the earn-out consideration related to the PLDA acquisition, which is recorded within other long-term liabilities. The Company has classified this liability within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. Refer to Note 9, “Fair Value of Financial Instruments and Note 21, “Acquisitions,” for additional information. The carrying value of cash equivalents, accounts receivable and accounts payable approximate their fair values due to their relatively short maturities as of December 31, 2023 and 2022. The Company’s financial instruments are measured and recorded at fair value, except for equity method investments and convertible notes. Marketable securities are comprised of available-for-sale securities that are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income (loss), a component of stockholders’ equity, net of tax. Fair value of the marketable securities is determined based on quoted market prices. The fair value of the Company’s convertible notes fluctuated with interest rates and with the market price of the common stock, but did not affect the carrying value of the debt on the balance sheet. The Company’s non-financial assets, such as goodwill, intangible assets and property, plant and equipment, are measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized. The Company’s equity method investments were initially recognized at cost, and the carrying amount was increased or decreased to recognize the Company’s share of the profit or loss of the investee after the date of acquisition. The Company’s share of the investee’s profit or loss was recognized in the Company’s Consolidated Statements of Operations. Distributions received from an investee reduced the carrying amount of the investment. Research and Development Costs incurred in research and development, which include engineering expenses, such as salaries and related benefits, stock-based compensation, depreciation, professional services and overhead expenses related to the general development of the Company’s products, are expensed as incurred. Software development costs are capitalized beginning when a product’s technological feasibility has been established and ending when a product is available for general release to customers. The Company has not capitalized any software development costs in the period between establishing technological feasibility and general customer release since the period is relatively short and as such, these costs have not been material. Computation of Earnings (Loss) Per Share Basic earnings (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing the earnings (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of incremental common shares issuable upon exercise of stock options, employee stock purchases, and restricted stock and restricted stock units, and shares issuable upon the conversion of convertible notes. The dilutive effect of outstanding shares is reflected in diluted earnings per share by application of the treasury stock method, or the if-converted method for the in-the-money conversion benefit feature of the 2023 Notes. This method includes consideration of the amounts to be paid by the employees, the amount of excess tax benefits that would be recognized in equity if the instrument was exercised and the amount of unrecognized stock-based compensation related to future services. No potential dilutive common shares are included in the computation of any diluted per share amount when a net loss is reported. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including foreign currency translation adjustments and unrealized gains and losses on marketable securities. Other comprehensive income (loss), net of tax, is presented in the Consolidated Statements of Comprehensive Income (Loss). Credit Concentration As of December 31, 2023 and 2022, the Company’s cash, cash equivalents and marketable securities were invested with various financial institutions in the form of corporate bonds, commercial paper and notes, money market funds, U.S. Treasuries and U.S. Government Agencies. The Company’s exposure to market risk for changes in interest rates relates primarily to its investment portfolio. The Company places its investments with high-credit issuers and, by investment policy, attempts to limit the amount of credit exposure to any one issuer. As stated in the Company’s investment policy, it will ensure the safety and preservation of the Company’s invested funds by limiting default risk and market risk. The Company has no investments denominated in foreign country currencies and therefore is not subject to foreign exchange risk from these assets. The Company holds cash, cash equivalents and marketable securities in excess of federally insured limits. The Company mitigates default risk by investing in high credit quality securities and by positioning its portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor. The portfolio includes only marketable securities with active secondary or resale markets to enable portfolio liquidity. The Company’s accounts receivable are derived from revenue earned from customers located in the U.S. and internationally. Refer to Note 7, “Segments and Major Customers,” for additional information. The Company’s unbilled receivables are collected from customers located in the U.S. and internationally. Refer to Note 4, “Revenue Recognition,” for additional information. Derivative Instruments and Hedging Activities The Company has on occasion, entered into foreign currency forward contracts (the “Contracts”) to manage the Company’s exposure related to certain foreign currency denominated monetary assets (the “Hedging Program”) and to minimize the related impact of foreign currency fluctuations on the Company’s earnings. The hedged monetary assets primarily consisted of certain euro-denominated cash and accounts receivable balances. The Contracts mitigate the Company’s foreign currency exposure when the Contracts are settled at their maturity by generally offsetting the gains and losses generated by the re-measurement of the underlying monetary assets. The Contracts are typically entered into at the end of a month, with an approximately one month duration at inception. Due to the short duration of these Contracts, their fair value has been deemed immaterial. As the Contracts were considered derivative instruments that were not designated and did not qualify as hedging instruments, any gains and losses resulting from changes in their fair value were recorded to interest income and ot

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted In August 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) (“ASU 2020-06”).” The amendments in this ASU simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, the guidance removes the liability and equity separation models for convertible instruments. Instead, entities will account for convertible debt instruments wholly as debt unless convertible instruments contain features that require bifurcation as a derivative or that result in substantial premiums accounted for as paid-in capital. The guidance also requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share. The guidance is effective for fiscal years beginning after December 15, 2021. The Company adopted this guidance on January 1, 2022 on a modified retrospective basis. Upon adoption, the Company reversed approximately $35.2 million of debt discount related to the Company’s 1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) from additional paid-in capital, reversed approximately $8.3 million representing the unamortized debt discount from liabilities, and recorded the net impact of $26.9 million to accumulated deficit. The Company also removed approximately $0.7 million of debt issuance costs related to the 2023 Notes from additional paid-in capital and recorded approximately $0.5 million to accumulated deficit related to the amortization of debt issuance costs that were historically allocated to equity. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805)—Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” The amendments in this ASU improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistencies related to recognition of an acquired contract liability, and to payment terms and their effect on subsequent revenue recognized by the acquirer. Among other changes, this ASU requires that an acquirer account for acquired revenue contracts in accordance with Topic 606 as if it had originated the contracts. If the acquirer is unable to assess or rely on how the acquiree applied Topic 606, the acquirer should consider the terms of the acquired contracts as of the contract inception or contract modification date in applying Topic 606 to determine what should be recorded at the acquisition date. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination. The guidance is effective for fiscal years beginning after December 15, 2022. The Company elected to early adopt this ASU on April 1, 2022. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. In addition, this ASU requires that all existing annual disclosures about segment profit or loss must be provided on an interim basis and clarifies that single reportable segment entities are subject to the disclosure requirement under Topic 280 in its entirety. This ASU is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods within annual reporting periods beginning after December 15, 2024. Early adoption is permitted. The amendments in this ASU should be applied on a retrospective basis. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance requires additional disclosures related to rate reconciliation, income taxes paid and other disclosures. For each annual period presented, public business entities are required to 1) disclose specific categories in the rate reconciliation and 2) provide additional information for reconciling items that meet a quantitative threshold. In addition, this ASU requires all reporting entities to disclose on an annual basis the amount of income taxes paid disaggregated by federal, state and foreign taxes, as well as the amount of income taxes paid disaggregated by individual jurisdictions which meet a quantitative threshold. This ASU is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this ASU should be applied on a prospective basis, with retrospective application permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	12 Months Ended
Revenue Recognition (Notes)	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Contract Balances The contract assets are primarily related to the Company’s fixed fee IP licensing arrangements and rights to consideration for performance obligations delivered but not billed as of December 31, 2023. The Company’s contract balances were as follows: As of December 31, (In thousands) 2023 2022 Unbilled receivables $ 55,295 $ 150,920 Deferred revenue 18,085 25,421 During the years ended December 31, 2023 and December 31, 2022, the Company recognized $20.8 million and $23.6 million, respectively, of revenue that was included in deferred revenue as of December 31, 2022 and December 31, 2021, respectively. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $19.3 million as of December 31, 2023, which the Company primarily expects to recognize over the next 2 years.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
Earnings (Loss) Per Share	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following table sets forth the computation of basic and diluted net income (loss) per share: For the Years Ended December 31, (In thousands, except per share amounts) 2023 2022 2021 Net income (loss) per share: Numerator: Net income (loss) $ 333,904 $ (14,310) $ 18,334 Denominator: Weighted-average common shares outstanding - basic 108,183 109,472 110,538 Effect of potential dilutive common shares 2,706 — 4,327 Weighted-average common shares outstanding - diluted 110,889 109,472 114,865 Basic net income (loss) per share $ 3.09 $ (0.13) $ 0.17 Diluted net income (loss) per share $ 3.01 $ (0.13) $ 0.16 The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to the Company’s common stockholders for the year ended December 31, 2022 because the impact of including them would have been anti-dilutive (in thousands): For the Year Ended December 31, (In thousands) 2022 Stock options 282 Restricted stock units 2,361 Potentially issuable shares related to the in-the-money conversion benefit feature of convertible notes 175 Total 2,818 The shares in the tables above did not include the principal amount of the Company’s 2023 Notes (“the 2023 Notes”) as the principal amount of the 2023 Notes must be paid in cash. The Company settled the conversion of the remaining $10.4 million aggregate principal amount of the 2023 Notes in the first quarter of 2023. Accordingly, the Company delivered approximately 0.3 million shares of the Company's common stock as settlement related to the in-the-money conversion feature of the 2023 Notes and received an equal amount of shares due to the settlement of the convertible senior note hedges. The Company included dilutive instruments exercised during the period in the denominator of diluted earnings (loss) per share for the period prior to exercise, and thereafter, the Company included the actual shares issued in the denominator for both basic and diluted earnings (loss) per share . Refer to Note 12, “Convertible Notes,” for additional information. As a result of the Company’s adoption of ASU No. 2020-06 on January 1, 2022, the dilutive impact of the 2023 Notes on the calculation of diluted net income (loss) per share is considered using the if-converted method. Furthermore, because the principal amount of the 2023 Notes must be settled in cash, the dilutive impact of applying the if-converted method is limited to the in-the-money portion, if any, of the 2023 Notes. For periods prior to the Company’s January 1, 2022 adoption of ASU No. 2020-06, the Company applied the treasury stock method to account for the dilutive impact of the 2023 Notes for diluted net income (loss) per share purposes. As noted in ASU No. 2020-06, for convertible instruments where the principal is required to be paid in cash, the results of applying the if-converted method are similar to the results of applying the historical treasury stock method. Therefore, even though the Company is required to apply the if-converted method upon adoption of ASU No. 2020-06, there is no impact to its earnings per share calculation.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
Intangible Assets and Goodwill	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Goodwill The following tables present goodwill information for the years ended December 31, 2023 and December 31, 2022: (In thousands) December 31, Divestiture of Goodwill (1) December 31, Total goodwill $ 292,040 $ (5,228) $ 286,812 ______________________________________ (1) In September 2023, the Company divested its PHY IP group, which resulted in the Company recognizing a decrease in goodwill based on the relative fair value of the Company’s single reporting unit in proportion to the fair value of the divested PHY IP group. Refer to Note 20, “Divestiture,” for additional information. (In thousands) December 31, Additions to Goodwill (1) Adjustment to Goodwill (2) Effect of Exchange Rates (3) December 31, Total goodwill $ 278,810 $ 12,069 $ 1,013 $ 148 $ 292,040 ______________________________________ (1) In May 2022, the Company acquired Hardent, Inc. (“Hardent”), which resulted in the Company recognizing additional goodwill. Refer to Note 21, “Acquisitions,” for additional information. (2) The adjustment to goodwill primarily includes a correction of an immaterial error related to an understatement in other current liabilities that originated from the acquisition of AnalogX Inc. (“AnalogX”) in 2021 and working capital adjustments from the acquisition of Hardent within the measurement period of one year. (3) Effect of exchange rates relates to foreign currency translation adjustments for the period. Intangible Assets, Net The components of the Company’s intangible assets as of December 31, 2023 and December 31, 2022 were as follows: As of December 31, 2023 (In thousands, except useful life) Useful Life Gross Carrying Amount (1) Accumulated Amortization (1) Net Carrying Amount Existing technology 3 to 10 years $ 286,712 $ (265,756) $ 20,956 Customer contracts and contractual relationships 0.5 to 10 years 37,496 (37,083) 413 Non-compete agreements and trademarks 3 years 300 (300) — IPR&D Not applicable 7,400 — 7,400 Total intangible assets $ 331,908 $ (303,139) $ 28,769 ______________________________________ (1) In September 2023, the Company disposed of approximately $7.4 million of net intangible assets (including $3.8 million of IPR&D) in connection with the divestiture of the Company’s PHY IP group. Refer to Note 20, “Divestiture,” for additional information. As of December 31, 2022 (In thousands, except useful life) Useful Life Gross Carrying Amount (1) (2) Accumulated Amortization (1) (2) Net Carrying Amount Existing technology 3 to 10 years $ 299,925 $ (261,708) $ 38,217 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (36,533) 1,463 Non-compete agreements and trademarks 3 years 300 (300) — IPR&D Not applicable 11,200 — 11,200 Total intangible assets $ 349,421 $ (298,541) $ 50,880 ______________________________________ (1) During the year ended December 31, 2022, the Company acquired certain intangible assets for $3.0 million in cash. The assets were classified as existing technology and are being amortized over their expected useful life of five years. During the year ended December 31, 2022, the amortization for the acquired assets was not material. (2) In May 2022, the Company acquired Hardent, which resulted in the Company recognizing additional intangible assets. Refer to Note 21, “Acquisitions,” for additional information. Amortization expense for intangible assets for the years ended December 31, 2023, 2022 and 2021 was $14.7 million, $15.6 million and $17.5 million, respectively. The estimated future amortization expense of intangible assets as of December 31, 2023 was as follows (in thousands): Years Ending December 31: Amount 2024 $ 11,742 2025 5,427 2026 3,739 2027 461 2028 — Thereafter — Total amortizable purchased intangible assets 21,369 IPR&D 7,400 Total intangible assets $ 28,769

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segments and Major Customers Operating segments are based upon the Company’s internal organization structure, the manner in which its operations are managed, the criteria used by its Chief Operating Decision Maker (“CODM”) to evaluate segment performance and availability of separate financial information regularly reviewed for resource allocation and performance assessment. The Company has determined its CODM to be the Chief Executive Officer (“CEO”). The CEO reviews financial information presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. On this basis, the Company is organized and operates as a single segment within the semiconductor space. As of December 31, 2023, the Company has a single operating and reportable segment. Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable at December 31, 2023 and 2022, respectively, was as follows: As of December 31, Customer 2023 2022 Customer 1 49 % * Customer 2 13 % 14 % Customer 3 12 % * Customer 4 * 23 % Customer 5 * 16 % _________________________________________ * Customer accounted for less than 10% of total accounts receivable in the period. Revenue from the Company’s major customers representing 10% or more of total revenue for the years ended December 31, 2023, 2022 and 2021, respectively, was as follows: Years Ended December 31, Customer 2023 2022 2021 Customer A 27 % * * Customer B 18 % 19 % 21 % Customer C * 17 % 13 % Customer D * 14 % 11 % _________________________________________ * Customer accounted for less than 10% of total revenue in the period. Revenue from customers in the geographic regions based on the location of contracting parties was as follows: Years Ended December 31, (In thousands) 2023 2022 2021 United States $ 176,821 $ 277,776 $ 211,419 South Korea 152,328 7,222 6,007 Singapore 53,327 57,309 39,798 Other 78,641 112,486 71,080 Total $ 461,117 $ 454,793 $ 328,304 At December 31, 2023, of the $67.8 million of total property, plant and equipment, approximately $64.1 million were located in the United States, $3.0 million were located in India and $0.7 million were located in other foreign locations. At December 31, 2022, of the $86.3 million of total property, plant and equipment, approximately $80.5 million were located in the United States, $3.4 million were located in India and $2.4 million were located in other foreign locations.

Marketable Securities

Marketable Securities	12 Months Ended
Marketable Securities	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Marketable Securities	Marketable Securities All cash equivalents and marketable securities are classified as available-for-sale. Total cash, cash equivalents and marketable securities are summarized as follows: As of December 31, 2023 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 88,486 $ 88,486 $ — $ — Cash equivalents: Money market funds 3,790 3,790 — — U.S. Government bonds and notes 2,491 2,491 — — Total cash equivalents 6,281 6,281 — — Total cash and cash equivalents 94,767 94,767 — — Marketable securities: U.S. Government bonds and notes 194,428 194,389 251 (212) Corporate bonds, commercial paper and notes 136,649 136,892 162 (405) Total marketable securities 331,077 331,281 413 (617) Total cash, cash equivalents and marketable securities $ 425,844 $ 426,048 $ 413 $ (617) As of December 31, 2022 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 94,737 $ 94,737 $ — $ — Cash equivalents: Money market funds 15,763 15,763 — — Corporate bonds, commercial paper and notes 14,834 14,838 — (4) Total cash equivalents 30,597 30,601 — (4) Total cash and cash equivalents 125,334 125,338 — (4) Marketable securities: U.S. Government bonds and notes 96,371 98,250 1 (1,880) Corporate bonds, commercial paper and notes 91,521 93,254 7 (1,740) Total marketable securities 187,892 191,504 8 (3,620) Total cash, cash equivalents and marketable securities $ 313,226 $ 316,842 $ 8 $ (3,624) Available-for-sale securities are reported at fair value on the balance sheets and were classified along with cash as follows: As of December 31, (In thousands) 2023 2022 Cash $ 88,486 $ 94,737 Cash equivalents 6,281 30,597 Total cash and cash equivalents 94,767 125,334 Marketable securities 331,077 187,892 Total cash, cash equivalents and marketable securities $ 425,844 $ 313,226 The Company continues to invest in highly rated, liquid debt securities. The Company holds all of its marketable securities as available-for-sale, marks them to market and regularly reviews its portfolio to ensure adherence to its investment policy and to monitor individual investments for risk analysis, proper valuation and impairment. The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at December 31, 2023 and 2022 are as follows: Fair Value Gross Unrealized Losses (In thousands) December 31, December 31, December 31, December 31, Less than 12 months U.S. Government bonds and notes $ 32,454 $ 28,893 $ (53) $ (23) Corporate bonds, commercial paper and notes 46,407 45,538 (40) (35) Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months 78,861 74,431 (93) (58) 12 months or greater U.S. Government bonds and notes 6,841 62,588 (159) (1,857) Corporate bonds, commercial paper and notes 16,619 49,559 (365) (1,709) Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater 23,460 112,147 (524) (3,566) Total cash equivalents and marketable securities in a continuous unrealized loss position $ 102,321 $ 186,578 $ (617) $ (3,624) The gross unrealized losses at December 31, 2023 and 2022 were not material in relation to the Company’s total available-for-sale portfolio. The gross unrealized losses can be primarily attributed to a combination of market conditions as well as the demand for and duration of the U.S. government-sponsored obligations and corporate bonds, commercial paper and notes. The Company reasonably believes that there is no need to sell these investments and that it can recover the amortized cost of these investments. The Company has found no evidence of impairment due to credit losses in its portfolio. Therefore, these unrealized losses were recorded in other comprehensive income (loss). The Company cannot provide any assurance that its portfolio of cash, cash equivalents and marketable securities will not be impacted by adverse conditions in the financial markets, which may require the Company in the future to record an impairment charge for credit losses which could adversely impact its financial results. The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows: (In thousands) December 31, Due less than one year $ 251,857 Due from one year through three years 81,711 Total $ 333,568 Refer to Note 9, “Fair Value of Financial Instruments,” for a discussion regarding the fair value of the Company’s cash equivalents and marketable securities.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels detailed in Note 2, “Summary of Significant Accounting Policies,” as of December 31, 2023 and 2022: As of December 31, 2023 (In thousands) Total Quoted Market Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Assets carried at fair value Money market funds $ 3,790 $ 3,790 $ — $ — U.S. Government bonds and notes 196,919 — 196,919 — Corporate bonds, commercial paper and notes 136,649 — 136,649 — Total assets carried at fair value $ 337,358 $ 3,790 $ 333,568 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 12,500 $ — $ — $ 12,500 Total liabilities carried at fair value $ 12,500 $ — $ — $ 12,500 As of December 31, 2022 (In thousands) Total Quoted Market Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Assets carried at fair value Money market funds $ 15,763 $ 15,763 $ — $ — U.S. Government bonds and notes 96,371 — 96,371 — Corporate bonds, commercial paper and notes 106,355 — 106,355 — Total assets carried at fair value $ 218,489 $ 15,763 $ 202,726 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 14,800 $ — $ — $ 14,800 Total liabilities carried at fair value $ 14,800 $ — $ — $ 14,800 The Company’s liabilities related to earn-out consideration are classified within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of December 31, 2023 and 2022: Years Ended December 31, (In thousands) 2023 2022 2021 Balance as of beginning of period $ 14,800 $ 16,900 $ — Addition of earn-out liability due to acquisition — — 11,600 Change in fair value of earn-out liability due to remeasurement 9,234 3,111 5,300 Change in fair value of earn-out liability due to achievement of revenue target (11,534) (5,211) — Balance as of end of period $ 12,500 $ 14,800 $ 16,900 For the years ended December 31, 2023, 2022 and 2021, the changes in the fair value of the earn-out liability related to the 2021 acquisition of PLDA, which is subject to certain revenue targets of the acquired business for a period of three years from the date of acquisition, and which is settled annually in shares of the Company’s common stock based on the fair value of that common stock fixed at the time the Company acquired PLDA. The fair value of the earn-out liability is remeasured each quarter, depending on the acquired business’s revenue performance relative to target over the applicable period, and adjusted to reflect changes in the per share value of the Company’s common stock. The Company has classified its liability for the contingent earn-out consideration related to the PLDA acquisition within Level 3 of the fair value hierarchy because the fair value calculation includes significant unobservable inputs, such as revenue forecast, revenue volatility, equity volatility and weighted average cost of capital. During the years ended December 31, 2023, 2022 and 2021, the Company remeasured the fair value of the earn-out liability, which resulted in additional expense of $9.2 million, $3.1 million and $5.3 million, respectively, in the Company’s Consolidated Statements of Operations. The Company monitors its investments for impairment and records appropriate reductions in carrying value when necessary. The Company monitors its investments for impairment by considering current factors, including the economic environment, market conditions, operational performance and other specific factors relating to the business underlying the investment, reductions in carrying values when necessary and the Company’s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in the market. Any impairment is reported under “Interest and other income (expense), net” in the Consolidated Statements of Operations. During the years ended December 31, 2023 and 2022, the Company recorded no other-than-temporary impairment charges on its investments. In 2018, the Company made an investment in a non-marketable equity security of a private company. This investment was accounted for under the equity method of accounting, and the Company accounted for its equity method share of the income (loss). During the second quarter of 2023, the carrying value of the Company’s 25.0% ownership percentage was reduced to zero as the carrying value had been adjusted by an equal and offsetting amount of the Company’s share of the investee’s cumulative losses. During the fourth quarter of 2023, the Company sold its 25.0% ownership share in the equity investment for approximately $25.0 million, which was included, net of withholding taxes paid, in prepaid and other current assets in the Company’s Consolidated Balance Sheet as of December 31, 2023. The Company recognized a gain of $25.0 million related to the sale of the Company’s 25.0% ownership share in the non-marketable equity security. The gain was offset by transaction costs of approximately $1.1 million, resulting in a net gain of approximately $23.9 million, which was included in the Company’s Consolidated Statement of Operations for the year ended December 31, 2023. The Company has non-cash investing cash flow activity of approximately $23.0 million from the sale of the non-marketable equity security, which were offset by withholding taxes paid and changes in the foreign currency exchange rates, which was subsequently received in January 2024. The carrying value of the Company’s 25.0% ownership percentage was deemed immaterial as of December 31, 2022. The Company recorded immaterial amounts in its Consolidated Statements of Operations representing its share of the investee’s loss for the years ended December 31, 2023 and 2022, respectively. During the year ended December 31, 2022, the Company recorded a gain on fair value of approximately $3.5 million related to the sale of an equity security with an immaterial carrying value in its Consolidated Statements of Operations. During the years ended December 31, 2023 and 2022, there were no transfers of financial instruments between different categories of fair value. The following table presents the financial instruments that are not carried at fair value but require fair value disclosure as of 2022: As of December 31, 2022 (In thousands) Face Value Carrying Value Fair Value 1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) $ 10,381 $ 10,378 $ 19,625 The fair value of the convertible notes at December 31, 2022 was determined based on recent quoted market prices for these notes, which is a Level 2 measurement. As discussed in Note 12, “Convertible Notes,” the Company settled the remaining $10.4 million aggregate principal amount of the 2023 Notes during the first quarter of 2023. As of December 31, 2022, the 2023 Notes were carried at their face value of $10.4 million, less any unamortized debt issuance costs. The carrying value of other financial instruments, including accounts receivable, accounts payable and other liabilities, approximated fair value due to their short maturities. Information regarding the Company’s goodwill and long-lived assets balances are disclosed in Note 6, “Intangible Assets and Goodwill.”

Leases (Notes)

Leases (Notes)	12 Months Ended
Leases (Notes)	Dec. 31, 2023
Leases [Abstract]
Leases	Leases The Company has a lease agreement with 237 North First Street Holdings, LLC for an office space located at 4453 North First Street in San Jose, California (the “Lease”). The Lease has a term of 128 months from the amended commencement date in April 2020. The annual base rent increases each year to certain fixed amounts over the course of the term. In addition to the base rent, the Company will also pay operating expenses, insurance expenses, real estate taxes and a management fee. The Lease allows for an option to expand, wherein the Company has the right of first refusal to rent additional space in the building. The Company has a one-time option to extend the Lease for a period of 60 months and may elect to terminate the Lease, via written notice to the Landlord, in the event the office space is damaged or destroyed. These options were not recognized as part of operating lease right-of-use assets and operating lease liabilities. The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2023 (in thousands): Years ending December 31, Amount 2024 $ 5,908 2025 5,897 2026 6,137 2027 4,838 2028 4,548 Thereafter 8,453 Total minimum lease payments 35,781 Less: amount of lease payments representing interest (5,073) Present value of future minimum lease payments 30,708 Less: current obligations under leases (4,453) Long-term lease obligations $ 26,255 As of December 31, 2023, the weighted-average remaining lease term for the Company’s operating leases was 6.2 years, and the weighted-average discount rate used to determine the present value of the Company’s operating leases was 6.3%. Operating lease costs included in research and development and selling, general and administrative costs in the Company’s Consolidated Statements of Operations were $6.0 million, $7.5 million and $7.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Cash paid for amounts included in the measurement of operating lease liabilities were $6.7 million, $8.6 million and $7.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Balance Sheet Details

Balance Sheet Details	12 Months Ended
Balance Sheet Details	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Details	Balance Sheet Details Inventories (1) Inventories consisted of the following: As of December 31, (In thousands) 2023 2022 Raw materials $ 17,483 $ 4,683 Work in process 5,299 8,341 Finished goods 13,372 7,876 Total $ 36,154 $ 20,900 (1) As of December 31, 2023 and 2022, the Company had inventory reserve balances of approximately $6.0 million and $1.3 million included in the Consolidated Balance Sheets, respectively. Property, Plant and Equipment, net Property, plant and equipment, net is comprised of the following: As of December 31, (In thousands) 2023 2022 Computer software $ 44,226 $ 59,500 Computer equipment 36,198 36,865 Leasehold improvements 27,810 32,384 Machinery 30,446 19,587 Furniture and fixtures 12,561 12,664 Construction in progress 5,660 6,949 Property, plant and equipment, gross 156,901 167,949 Less accumulated depreciation and amortization (89,093) (81,694) Property, plant and equipment, net $ 67,808 $ 86,255 Depreciation expense for the years ended December 31, 2023, 2022 and 2021 was $37.7 million, $26.0 million and $21.0 million, respectively. Other Current Liabilities Other current liabilities are comprised of the following: As of December 31, (In thousands) 2023 2022 EDA tools software licenses liability $ 14,566 $ 15,563 Price protection liability 6,563 — Other current liabilities 5,469 8,429 Total $ 26,598 $ 23,992 Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is comprised of the following: As of December 31, (In thousands) 2023 2022 Foreign currency translation adjustments $ (913) $ (1,195) Unrealized loss on available-for-sale securities, net of tax (356) (3,768) Total $ (1,269) $ (4,963)

Convertible Notes

Convertible Notes	12 Months Ended
Convertible Notes	Dec. 31, 2023
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes The Company’s convertible notes are shown in the following table: As of December 31, (In thousands) 2022 2023 Notes (1) $ 10,381 Unamortized debt issuance costs — 2023 Notes (3) Total convertible notes 10,378 Less current portion 10,378 Total long-term convertible notes $ — (1) As of December 31, 2023, none of the 2023 Notes remained outstanding. 1.375% Convertible Senior Notes due 2023. On November 17, 2017, the Company issued $172.5 million aggregate principal amount of 1.375% convertible senior notes pursuant to an indenture (the “2023 Indenture”), by and between the Company and U.S. Bank National Association, as trustee (the “Trustee”). In accounting for the 2023 Notes at issuance and prior to the adoption of ASU No. 2020-06, the Company had separated the 2023 Notes into liability and equity components pursuant to the accounting standards for convertible debt instruments that may be fully or partially settled in cash upon conversion. As of the date of issuance, the Company determined that the liability component of the 2023 Notes was $137.3 million and the equity component of the 2023 Notes was $35.2 million. The fair value of the liability component was estimated using an interest rate for a similar instrument without a conversion feature. The unamortized discount related to the 2023 Notes was being amortized to interest expense using the effective interest method over approximately five years. As a result of the adoption of ASU No. 2020-06 on January 1, 2022, the Company reversed approximately $35.2 million of debt discount related to the 2023 Notes from additional paid-in capital, reversed approximately $8.3 million representing the unamortized debt discount from liabilities and recorded the net impact of $26.9 million to accumulated deficit. The 2023 Notes bore interest at a rate of 1.375% per year, payable semi-annually on February 1 and August 1 of each year, beginning on August 1, 2018. Contractually, the 2023 Notes would mature on February 1, 2023, unless earlier repurchased by the Company or converted pursuant to their terms. The Company incurred transaction costs of approximately $3.3 million related to the issuance of the 2023 Notes. In accounting for these costs and prior to the adoption of ASU No. 2020-06, the Company had allocated the costs to the liability and equity components in proportion to the allocation of proceeds from the issuance of the 2023 Notes to such components. Transaction costs allocated to the liability component of $2.6 million were netted against the carrying amount of the liability in the Consolidated Balance Sheets and were amortized to interest expense using the effective interest method over the term of the 2023 Notes. The transaction costs allocated to the equity component of $0.7 million were recorded as additional paid-in capital. As a result of the adoption of ASU No. 2020-06 on January 1, 2022, the Company removed approximately $0.7 million of debt issuance costs related to the 2023 Notes from additional paid-in capital and recorded approximately $0.5 million to accumulated deficit related to the amortization of debt issuance costs that were historically allocated to equity. The initial conversion rate of the 2023 Notes was 52.8318 shares of the Company’s common stock per $1,000 principal amount of 2023 Notes (which was equivalent to an initial conversion price of approximately $18.93 per share). The conversion rate was subject to adjustment upon the occurrence of certain specified events but would not be adjusted for accrued and unpaid interest. In addition, upon the occurrence of a make-whole fundamental change (as defined in the 2023 Indenture), the Company would have, in certain circumstances, increased the conversion rate by a number of additional shares for a holder that could have elected to convert its 2023 Notes in connection with such make-whole fundamental change. Prior to the close of business on the business day immediately preceding November 1, 2022, the 2023 Notes would have been convertible only under the following circumstances: (1) during any calendar quarter commencing after March 31, 2018, and only during such calendar quarter, if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is more than 130% of the conversion price on each applicable trading day; (2) during the five five our common stock; or (4) upon the occurrence of specified corporate transactions. On or after November 1, 2022, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2023 Notes would have been able to convert all or a portion of their 2023 Notes regardless of the foregoing conditions. Upon conversion, the Company would have paid cash up to the aggregate principal amount of the 2023 Notes to be converted and pay or deliver, as the case may have been, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the 2023 Notes being converted. The Company could not have redeemed the 2023 Notes prior to the maturity date and no sinking fund was provided for the 2023 Notes. Upon the occurrence of a fundamental change (as defined in the 2023 Indenture) prior to the maturity date, holders may have required the Company to repurchase all or a portion of the 2023 Notes for cash at a price equal to 100% of the principal amount of the 2023 Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The 2023 Notes were the Company’s senior unsecured obligations and ranked senior in right of payment to any of the Company’s indebtedness that was expressly subordinated in right of payment to the notes; equal in right of payment with the Company’s existing and future liabilities that were not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to any existing and future indebtedness and other liabilities (including trade payables, but excluding intercompany obligations and liabilities) and any preferred stock of subsidiaries of the Company. The following events were considered “events of default” with respect to the 2023 Notes, which may have resulted in the acceleration of the maturity of the 2023 Notes: ( 1) the Company defaulted on the payment when due of any principal of any of the 2023 Notes at maturity or upon exercise of a repurchase right or otherwise; (2) the Company defaulted on the payment of any interest, including additional interest, if any, on any of the 2023 Notes, when the interest became due and payable, and continuance of such default for a period of 30 days; (3) failure by the Company to comply with its obligation to convert the 2023 Notes in accordance with the 2023 Indenture upon exercise of a holder’s conversion right; (4) failure by the Company to give a fundamental change notice or notice of a specified corporate transaction when due with respect to the Notes; (5) failure by the Company to comply with any of its other agreements contained in the 2023 Notes or the 2023 Indenture for a period of 60 days after written notice from the Trustee or the holders of at least 25% in aggregate principal amount of the Notes then outstanding had been received; (6) failure by the Company to have paid when due the principal of, or acceleration of, any indebtedness for money borrowed by the Company or any of its Material Subsidiaries (as defined in the 2023 Indenture) in excess of $40.0 million principal amount, if such indebtedness was not discharged, or such acceleration was not annulled, for a period of 30 days after written notice to the Company by the Trustee or to the Company and the Trustee by holders of 25% or more in aggregate principal amount of the 2023 Notes then outstanding in accordance with the 2023 Indenture; and (7) certain events of bankruptcy, insolvency or reorganization of the Company or any of its Material Subsidiaries (as defined in the Indenture). If such an event of default, other than an event of default described in clause (7) above with respect to the Company, had occurred, the Trustee by written notice to the Company, or the holders of at least 25% in aggregate principal amount of the outstanding Notes by notice to the Company and the Trustee, may have, and the Trustee at the request of such holders should have, declared 100% of the principal of and accrued and unpaid interest, if any, on all the Notes then outstanding to be due and payable. If an event of default described in clause (7) above occurred, 100% of the principal of and accrued and unpaid interest on the Notes then outstanding would have automatically become due and payable. On March 2, 2022, the Company entered into individual, privately negotiated transactions with certain holders of its outstanding 2023 Notes, pursuant to which the Company paid an aggregate of approximately $199.1 million in cash for the repurchase of approximately $123.1 million aggregate principal amount of its 2023 Notes (“Q1 2022 Partial Notes Repurchase”). The cash consideration was based on a volume-weighted average price of $29.6789 for the 19-trading day measurement period ending March 29, 2022. Of the $123.1 million aggregate principal amount, approximately $107.9 million was settled on March 31, 2022 for $174.5 million in cash. The remaining $15.2 million aggregate principal amount was settled on April 1, 2022 for $24.6 million in cash. In addition, this transaction resulted in a loss on extinguishment of debt of $66.5 million and a loss on fair value adjustment of derivatives, net of $8.3 million. On August 11, 2022, the Company entered into individual, privately negotiated transactions with certain holders of its outstanding 2023 Notes, pursuant to which the Company paid an aggregate of approximately $58.9 million in cash for the repurchase of approximately $39.0 million aggregate principal amount of its 2023 Notes (“Q3 2022 Partial Notes Repurchase”). The cash consideration was based on a volume-weighted average price of $27.8456 for the 10-trading day measurement period ending August 25, 2022. In addition, this transaction resulted in a loss on extinguishment of debt of $17.1 million and a loss on fair value adjustment of derivatives, net of $2.3 million. Upon entering into the Q1 2022 and Q3 2022 Partial Notes Repurchase agreements, the conversion feature related to the 2023 Notes repurchased, as well as the settlements of the convertible senior note hedges and warrants, were subject to derivative accounting. As described in the preceding paragraphs above, the combination of these two transactions resulted in $10.6 million in losses on fair value adjustment of derivatives, net, for the year ended December 31, 2022. During the first quarter of 2023, the holders of the remaining $10.4 million aggregate principal amount of the 2023 Notes elected to convert the notes pursuant to the original terms of the conversion feature. Accordingly, upon maturity, the Company paid $10.4 million in cash to settle the aggregate principal amount of the 2023 Notes and delivered approximately 0.3 million shares of the Company's common stock to settle the conversion spread. Note Hedges and Warrants. On November 14, 2017 and November 16, 2017, in connection with the 2023 Notes, the Company entered into privately negotiated convertible note hedge transactions (the “Convertible Note Hedge Transactions”) with respect to the Company’s common stock, par value $0.001 per share (the “Common Stock”), with certain bank counterparties (the “Counterparties”). The Company paid an aggregate amount of approximately $33.5 million to the Counterparties for the Convertible Note Hedge Transactions. The Convertible Note Hedge Transactions covered, subject to anti-dilution adjustments substantially similar to those in the 2023 Notes, approximately 9.1 million shares of Common Stock, the same number of shares underlying the 2023 Notes, at a strike price that corresponded to the initial conversion price of the 2023 Notes, and were exercisable upon conversion of the 2023 Notes. Contractually, the Convertible Note Hedge Transactions would have expired upon the maturity of the 2023 Notes. The Convertible Note Hedge Transactions were intended to reduce the potential economic dilution upon conversion of the 2023 Notes. The Convertible Note Hedge Transactions were separate transactions and were not part of the terms of the 2023 Notes. Holders of the 2023 Notes did not have any rights with respect to the Convertible Note Hedge Transactions. In addition, concurrently with entering into the Convertible Note Hedge Transactions, the Company separately entered into privately negotiated warrant transactions, whereby the Company sold to the Counterparties warrants (the “Warrants”) to acquire, collectively, subject to anti-dilution adjustments, approximately 9.1 million shares of the Common Stock at an initial strike price of approximately $23.30 per share, which represented a premium of 60% over the last reported sale price of the Common Stock of $14.56 on November 14, 2017. The Company received aggregate proceeds of approximately $23.2 million from the sale of the Warrants to the Counterparties. The Warrants were separate transactions and were not part of the 2023 Notes or Convertible Note Hedge Transactions. Holders of the 2023 Notes and Convertible Note Hedge Transactions did not have any rights with respect to the Warrants. The amounts paid and received for the Convertible Note Hedge Transactions and Warrants were recorded in additional paid-in capital in the Consolidated Balance Sheets. The fair value of the Convertible Note Hedge Transactions and Warrants were not re-measured through earnings each reporting period. The amounts paid for the Convertible Note Hedge Transactions were tax deductible expenses, while the proceeds received from the Warrants were not taxable. In connection with the Q1 2022 Partial Notes Repurchase, the Company entered into agreements with certain financial institutions to retire the corresponding portions of convertible senior note hedges and warrants the Company had previously entered into with the counterparties in connection with the issuance of the 2023 Notes. Upon settlement, the Company received $72.4 million in cash for the retirement of the proportionate amount of convertible senior note hedges and paid $55.1 million in cash for the retirement of the proportionate amount of warrants during the first quarter of 2022. In connection with the Q3 2022 Partial Notes Repurchase, the Company entered into agreements with certain financial institutions to retire the corresponding portions of convertible senior note hedges and warrants the Company had previously entered into with the counterparties in connection with the issuance of the 2023 Notes. Upon settlement, the Company received $19.3 million in cash for the retirement of the proportionate amount of convertible senior note hedges and paid $14.4 million in cash for the retirement of the proportionate amount of warrants during the third quarter of 2022. In connection with the settlement of the conversion of the remaining 2023 Notes, the Company received 0.3 million shares of the Company’s common stock for the retirement of the remaining convertible senior note hedges and paid $10.7 million in cash for the retirement of the remaining warrants during the first quarter of 2023. Additionally, the retirement of the remaining warrants was subject to derivative accounting, resulting in a loss on fair value adjustment of derivatives of $0.2 million for the year ended December 31, 2023. As of December 31, 2023, none of the note hedges and warrants remained outstanding. Interest expense related to the convertible notes for the years ended December 31, 2022 and 2021 was as follows: Years Ended December 31, (In thousands) 2022 2021 2023 Notes coupon interest at a rate of 1.375% $ 610 $ 2,372 2023 Notes amortization of discount and debt issuance cost 194 7,656 Total interest expense on convertible notes $ 804 $ 10,028 For the year ended December 31, 2023, interest expense related to the convertible notes was deemed immaterial.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of December 31, 2023, the Company’s material contractual obligations were as follows: (In thousands) Total 2024 2025 2026 2027 2028 Contractual obligations (1) (2) Software licenses (3) $ 24,635 $ 16,552 $ 8,083 $ — $ — $ — Other contractual obligations 1,594 1,326 131 137 — — Acquisition retention bonuses (4) (5) 894 558 336 — — — Total $ 27,123 $ 18,436 $ 8,550 $ 137 $ — $ — ______________________________________ (1) The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $110.7 million, including $31.7 million recorded as a reduction of long-term deferred tax assets and $78.9 million in long-term income taxes payable, as of December 31, 2023. As noted below in Note 18, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the timing of the outcome at this time. (2) For the Company’s lease commitments as of December 31, 2023, refer to Note 10, “Leases.” (3) The Company has commitments with various software vendors for agreements generally having terms longer than one year. As of December 31, 2023, approximately $14.6 million of the fair value of the liability was included in other current liabilities and $8.0 million was included in other long-term liabilities, in the accompanying Consolidated Balance Sheet. (4) In connection with the acquisitions of Hardent in the second quarter of 2022 and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment. (5) In connection with the acquisition of AnalogX in the third quarter of 2021, the Company was obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment. In September 2023, the Company divested its PHY IP group, which included AnalogX and resulted in the Company recognizing an immaterial decrease related to the remaining AnalogX acquisition retention bonus liability. Refer to Note 20, “Divestiture,” for additional information. Indemnifications From time to time, the Company indemnifies certain customers as a necessary means of doing business. Indemnification covers customers for losses suffered or incurred by them as a result of any patent, copyright, or other IP infringement or any other claim by any third party arising as a result of the applicable agreement with the Company. The Company generally attempts to limit the maximum amount of indemnification that the Company could be required to make under these agreements to the amount of fees received by the Company, however, this may not always be possible. The fair value of the liability as of December 31, 2023 and 2022, respectively, was not material.

Equity Incentive Plans and Stoc

Equity Incentive Plans and Stock-Based Compensation	12 Months Ended
Equity Incentive Plans and Stock-Based Compensation	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Stock-Based Compensation	Equity Incentive Plans and Stock-Based Compensation Equity Incentive Plans The Company has two equity incentive plans under which grants are currently outstanding: the 2015 Equity Incentive Plan (the “2015 Plan”) and the 2019 Inducement Equity Incentive Plan (the “2019 Inducement Plan”). The 2015 Plan and 2019 Inducement Plan were the Company’s only plans for providing stock-based incentive awards to eligible employees, executive officers, non-employee directors and consultants as of December 31, 2023. Grants under all plans typically have a requisite service period of 60 months or 48 months, have straight-line vesting schedules and expire not more than 10 years from date of grant. A summary of shares available for grant under the Company’s plans is as follows: Shares Available for Grant Total shares available for grant as of December 31, 2020 12,412,320 Stock options forfeited 54,327 Nonvested equity stock and stock units granted (1) (2) (3,918,251) Nonvested equity stock and stock units forfeited (1) 1,943,782 Total shares available for grant as of December 31, 2021 10,492,178 Nonvested equity stock and stock units granted (1) (3) (4,107,633) Nonvested equity stock and stock units forfeited (1) 1,271,224 Total shares available for grant as of December 31, 2022 7,655,769 Increase in shares approved for issuance (4) 5,210,000 Nonvested equity stock and stock units granted (1) (5) (2,082,334) Nonvested equity stock and stock units forfeited (1) 1,170,715 Total shares available for grant as of December 31, 2023 11,954,150 ______________________________________ (1) For purposes of determining the number of shares available for grant under the 2015 Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 shares and each restricted stock unit forfeited increases shares available for grant by 1.0 shares. (2) Amount includes approximately 0.4 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2021 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. (3) Amount includes approximately 0.6 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2022 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. (4) On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Plan. (5) Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. General Stock Option Information The following table summarizes stock option activity under the Company’s equity incentive plans for the years ended December 31, 2023, 2022 and 2021 and information regarding stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2023: Options Outstanding Weighted-Average Remaining Contractual Term (years) (In thousands, except per share amounts and years) Number of Shares Weighted-Average Exercise Price Per Share Aggregate Intrinsic Value Outstanding as of December 31, 2020 964,211 $ 11.08 Options exercised (360,303) $ 11.06 Options forfeited (54,327) $ 14.98 Outstanding as of December 31, 2021 549,581 $ 10.71 Options exercised (117,138) $ 7.43 Outstanding as of December 31, 2022 432,443 $ 11.60 Options exercised (307,711) $ 11.61 $ 17,430 Outstanding as of December 31, 2023 124,732 $ 11.60 3.35 $ 7,066 Vested or expected to vest at December 31, 2023 124,732 $ 11.60 3.35 $ 7,066 Options exercisable at December 31, 2023 124,732 $ 11.60 3.35 $ 7,066 Employee Stock Purchase Plan During the years ended December 31, 2023, 2022 and 2021, the Company had one employee stock purchase plan, the 2015 Employee Stock Purchase Plan (“2015 ESPP”). Employees generally will be eligible to participate in the plan if they are employed by the Company for more than 20 hours per week and more than five months in a fiscal year. The 2015 ESPP provides for six The Company issued 172,711 shares at an average price of $31.10 p er share during the year ended December 31, 2023. The Company issued 255,614 shares at an average price of $20.60 per share during the year ended December 31, 2022. The Company issued 384,087 shares at an average price of $12.95 per share during the year ended December 31, 2021. As of December 31, 2023, 2.4 million shares under the ESPP remained available for issuance. Stock-Based Compensation Stock Options There were no stock options granted during the years ended December 31, 2023, 2022 and 2021, respectively. Stock-based compensation expense related to stock options was immaterial for the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, all compensation cost net of expected forfeitures, related to unvested stock-based compensation arrangements granted under the stock option plans has been fully recognized. The total fair value of options vested f or the years ended December 31, 2023, 2022 and 2021 was $0.5 million, $1.7 million and $2.0 million, respectively. Employee Stock Purchase Plan During the years ended December 31, 2023, 2022 and 2021, the Company recorded stock-based compensation related to the 2015 ESPP of $1.8 million, $1.7 million and $1.4 million, respectively. As of December 31, 2023, there was $0.8 million of total unrecognized compensation cost related to stock-based compensation arrangements granted under the 2015 ESPP. That cost is expected to be recognized over four months. Valuation Assumptions The Company estimates the fair value of stock awards using the BSM model. The BSM model determines the fair value of stock-based compensation and is affected by the Company’s stock price on the date of the grant, as well as assumptions regarding a number of highly complex and subjective variables. These variables include expected volatility, expected life of the award, expected dividend rate and expected risk-free rate of return. The assumptions for expected volatility and expected life are the two assumptions that significantly affect the grant-date fair value. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially impacted. The fair value of stock awards is estimated as of the grant date using the BSM option-pricing model assuming a dividend yield of 0% and the additional weighted-average assumptions as listed in the table below. Employee Stock Purchase Plan for Years Ended December 31, 2023 2022 2021 Employee Stock Purchase Plan Expected stock price volatility 48%-53% 40%-44% 32%-33% Risk free interest rate 5.14%-5.51% 1.49%-4.58% 0.04%-0.05% Expected term (in years) 0.5 0.5 0.5 Weighted-average fair value of purchase rights granted under the purchase plan $14.86 $8.02 $5.17 Expected Stock Price Volatility: Given the volume of market activity in its market traded options, the Company determined that it would use the implied volatility of its nearest-to-the-money traded options. The Company believes that the use of implied volatility is more reflective of market conditions and a better indicator of expected volatility than historical volatility. If there is not sufficient volume in its market traded options, the Company will use an equally weighted blend of historical and implied volatility. Risk-free Interest Rate: The Company bases the risk-free interest rate used in the BSM valuation method on implied yield currently available on the U.S. Treasury zero-coupon issues with an equivalent term. Where the expected terms of the Company’s stock-based awards do not correspond with the terms for which interest rates are quoted, the Company uses an approximation based on rates on the closest term currently available. Expected Term: The expected term of options granted represents the period of time that options granted are expected to be outstanding. The expected term was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior. The expected term of ESPP grants is based upon the length of each respective purchase period. Nonvested Equity Stock and Stock Units The Company grants nonvested equity stock units to officers, employees and directors. For the years ended December 31, 2023, 2022 and 2021, the Company granted nonvested equity stock units totaling 1.3 million, 2.3 million and 2.4 million shares, respectively. These awards have a service condition, generally a service period of four years, except in the case of grants to directors, for which the service period is one year. For the years ended December 31, 2023, 2022 and 2021, the nonvested equity stock units were valued at the date of grant, giving them a fair value of approximately $60.7 million, $65.6 million and $50.1 million, respectively. During the years ended December 31, 2023, 2022 and 2021, the Company granted performance unit awards to certain Company executive officers with vesting subject to the achievement of certain performance and/or market conditions. The ultimate number of performance units that can be earned can range from 0% to 200% of target depending on performance relative to target over the applicable period. The shares earned will vest on the third anniversary of the date of grant. The Company’s shares available for grant have been reduced to reflect the shares that could be earned at the maximum target. For the years ended December 31, 2023, 2022 and 2021, the Company recorded stock-based compensation expense of approximately $43.1 million, $33.8 million and $25.7 million, respectively, related to all outstanding nonvested equity stock grants. Unrecognized compensation cost related to all nonvested equity stock grants, net of estimated forfeitures, was approximately $64.2 million at December 31, 2023. This amount is expected to be recognized over a weighted-average period of 1.9 years. The following table reflects the activity related to nonvested equity stock and stock units for the years ended December 31, 2023, 2022 and 2021: Nonvested Equity Stock and Stock Units Shares Weighted-Average Nonvested at December 31, 2020 4,851,265 $ 12.82 Granted 2,363,885 $ 21.18 Vested (1,524,950) $ 12.41 Forfeited (971,815) $ 15.30 Nonvested at December 31, 2021 4,718,385 $ 16.62 Granted 2,338,255 $ 28.10 Vested (1,853,260) $ 14.42 Forfeited (485,320) $ 20.48 Nonvested at December 31, 2022 4,718,060 $ 22.78 Granted 1,268,973 $ 46.93 Vested (1,797,002) $ 18.07 Forfeited (759,839) $ 28.60 Nonvested at December 31, 2023 3,430,192 $ 32.90

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Programs On October 29, 2020, the Board approved a share repurchase program authorizing the repurchase of up to an aggregate of 20.0 million shares (the “2020 Repurchase Program”). Share repurchases under the 2020 Repurchase Program may be made through the open market, established plans or privately negotiated transactions in accordance with all applicable securities laws, rules and regulations. There is no expiration date applicable to the 2020 Repurchase Program. The 2020 Repurchase Program replaced the previous program approved by the Board in January 2015 and canceled the remaining shares outstanding as part of the previous authorization. During the years ended December 31, 2023, 2022 and 2021, the Company repurchased shares of its common stock under the 2020 Repurchase Program as discussed below. On November 11, 2020, the Company entered into an accelerated share repurchase program with Deutsche Bank AG, London Branch as counterparty, through its agent Deutsche Bank Securities Inc. (“Deutsche Bank”) (the “2020 ASR Program”). The 2020 ASR Program was part of the 2020 Repurchase Program. Under the 2020 ASR Program, the Company pre-paid to Deutsche Bank the $50.0 million purchase price for its common stock and, in turn, the Company received an initial delivery of approximately 2.6 million shares of its common stock from Deutsche Bank in the fourth quarter of 2020, which were retired and recorded as a $40.0 million reduction to stockholders’ equity. The remaining $10.0 million of the initial payment was recorded as a reduction to stockholders’ equity as an unsettled forward contract indexed to the Company’s stock. During the second quarter of 2021, the accelerated share repurchase program was completed and the Company received an additional 0.1 million shares of its common stock, which were retired, as the final settlement of the accelerated share repurchase program. On June 15, 2021, the Company entered into an accelerated share repurchase program with Deutsche Bank (the “2021 ASR Program”). The 2021 ASR Program was part of the 2020 Repurchase Program. Under the 2021 ASR Program, the Company pre-paid to Deutsche Bank the $100.0 million purchase price for its common stock and, in turn, the Company received an initial delivery of approximately 3.9 million shares of its common stock from Deutsche Bank in the second quarter of 2021, which were retired and recorded as an $80.0 million reduction to stockholders’ equity. The remaining $20.0 million of the initial payment was recorded as a reduction to stockholders’ equity as an unsettled forward contract indexed to the Company’s stock. During the fourth quarter of 2021, the accelerated share repurchase program was completed and the Company received an additional 0.4 million shares of its common stock, which were retired, as the final settlement of the accelerated share repurchase program. On September 9, 2022, the Company entered into an accelerated share repurchase program with Wells Fargo Bank, National Association (“Wells Fargo”) (the “2022 ASR Program”). The 2022 ASR Program was part of the 2020 Repurchase Program. Under the 2022 ASR Program, the Company pre-paid to Wells Fargo the $100.0 million purchase price for its common stock and, in turn, the Company received an initial delivery of approximately 3.1 million shares of its common stock from Wells Fargo in the third quarter of 2022, which were retired and recorded as an $80.0 million reduction to stockholders’ equity. The remaining $20.0 million of the initial payment was recorded as a reduction to stockholders’ equity as an unsettled forward contract indexed to the Company’s stock. During the fourth quarter of 2022, the accelerated share repurchase program was completed and the Company received an additional 0.1 million shares of its common stock, which were retired, as the final settlement of the 2022 ASR Program. On August 10, 2023, the Company entered into an accelerated share repurchase program with Royal Bank of Canada (“RBC”) (the “2023 ASR Program”). The 2023 ASR Program was part of the 2020 Repurchase Program. Under the 2023 ASR Program, the Company pre-paid to RBC the $100.0 million purchase price for its common stock and, in turn, the Company received an initial delivery of approximately 1.6 million shares of its common stock from RBC on August 11, 2023, which were retired and recorded as an $80.0 million reduction to stockholders’ equity. The remaining $20.0 million of the initial payment was recorded as a reduction to stockholders’ equity as an unsettled forward contract indexed to the Company’s stock. On September 22, 2023, the accelerated share repurchase program was completed and the Company received an additional 0.2 million shares of its common stock, which were retired, as the final settlement of the 2023 ASR Program. On November 2, 2023, the Company entered into a share repurchase plan (the “Buying Plan”) with RBC Capital Markets, LLC (“RBCCM”). The Buying Plan was part of the 2020 Repurchase Program. Under the Buying Plan, RBCCM shall commence purchases for a 12-month period starting on November 2, 2023 and ending on November 1, 2024, unless terminated sooner pursuant to the Buying Plan (the “Repurchase Period”). During the Repurchase Period, RBCCM may purchase an aggregate amount of $50.0 million of the Company’s common stock, and its execution is dependent on the Company’s stock price reaching certain levels. Share repurchases shall not exceed $25.0 million in a quarter. During the fourth quarter of 2023, an immaterial amount of shares were repurchased, retired and recorded as a reduction to stockholders’ equity. Effective January 1, 2023, the Company’s share repurchases are subject to a 1% excise tax as a result of the Inflation Reduction Act of 2022. As of December 31, 2023, there was no exercise tax liability as the fair market value of the Company’s common stock issuances in 2023 exceeded the fair market value of the total repurchases during the same period. During the year ended December 31, 2023, there were no other repurchases of the Company’s common stock under the 2020 Repurchase Program. As of December 31, 2023, there remained an outstanding authorization to repurchase approximately 7.9 million shares of the Company’s outstanding common stock under the 2020 Repurchase Program. The Company records share repurchases as a reduction to stockholders’ equity. The Company records a portion of the purchase price of the repurchased shares as an increase to accumulated deficit when the price of the shares repurchased exceeds the average original proceeds per share received from the issuance of common stock in accordance with its accounting policy. During the years ended December 31, 2023 and 2022, the cumulative price of $94.7 million and $90.1 million, respectively, were recorded as increases to accumulated deficit.

Benefit Plans

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2023
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans The Company has a 401(k) Plan (the “401(k) Plan”) qualified under Section 401(k) of the Internal Revenue Code of 1986. Each eligible employee may elect to contribute up to 60% of the employee’s annual compensation to the 401(k) Plan, up to the Internal Revenue Service limit. The Company, at the discretion of its Board of Directors, may match employee contributions to the 401(k) Plan. The Company matches 50% of eligible employee’s contribution, up to the first 6% of an eligible employee’s qualified earnings. For the years ended December 31, 2023, 2022 and 2021, the Company made matching contributions totaling approximately $2.0 million, $1.9 million and $1.8 million, respectively.

Restructuring Charges

Restructuring Charges	12 Months Ended
Restructuring Charges	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges 2023 Restructuring Plan In June 2023, the Company initiated a restructuring program to reduce overall expenses to improve future profitability by reducing the Company’s overall spending (the “2023 Restructuring Plan”). In connection with this restructuring program, the Company initiated a plan resulting in a reduction of 42 employees. During the year ended December 31, 2023, the Company recorded charges of approximately $9.4 million to “Restructuring and other charges” in its Consolidated Statement of Operations, related to the reduction in workforce, as well as write-downs of obligations related to certain IP development costs and software licenses for engineering development tools. The 2023 Restructuring Plan was materially completed in the fourth quarter of 2023. The following table summarizes the 2023 Plan restructuring activities during the year ended December 31, 2023: (In thousands) Employee Other Costs Total Liability at December 31, 2022 $ — $ — $ — Charges 4,620 4,748 9,368 Non-cash items* — (948) (948) Payments (4,152) (2,600) (6,752) Liability at December 31, 2023 $ 468 $ 1,200 $ 1,668 _________________________________________ * The non-cash items of $0.9 million related to the write-down of software licenses for engineering development tools. During the years ended December 31, 2022 and 2021, the Company did not initiate any restructuring programs.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income (loss) before taxes consisted of the following: Years Ended December 31, (In thousands) 2023 2022 2021 Domestic $ 154,434 $ (16,663) $ 19,244 Foreign 32,726 8,838 4,042 $ 187,160 $ (7,825) $ 23,286 The provision for (benefit from) income taxes was comprised of: Years Ended December 31, (In thousands) 2023 2022 2021 Federal: Current $ 1,075 $ 183 $ (112) Deferred (126,734) 2,479 2,042 State: Current 893 (215) 214 Deferred (17,264) 24 324 Foreign: Current (3,362) 5,828 3,328 Deferred (1,352) (1,814) (844) $ (146,744) $ 6,485 $ 4,952 The differences between the Company’s effective tax rate and the U.S. federal statutory regular tax rate were as follows: Years Ended December 31, 2023 2022 2021 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State income tax expense (benefit) (8.7) 6.1 2.2 Withholding tax 3.9 (36.6) 4.4 Foreign rate differential (2.6) (28.3) 3.3 Research and development credit (2.9) 4.8 (7.1) Executive compensation 3.9 (49.0) 6.6 Stock-based compensation (5.2) 47.9 (7.7) Foreign tax credit (2.5) 57.4 (84.0) Foreign-derived intangible income deduction (1.9) 70.5 (55.8) Acquisition 1.6 (25.1) 8.8 Debt extinguishment — (226.7) — Other 0.3 (1.0) (0.2) Valuation allowance (85.3) 76.1 129.8 (78.4) % (82.9) % 21.3 % The components of the net deferred tax assets (liabilities) were as follows: As of December 31, (In thousands) 2023 2022 Deferred tax assets: Depreciation and amortization $ — $ 3,247 Lease liabilities 6,607 7,691 Other timing differences, accruals and reserves 5,306 10,393 Deferred equity compensation 3,973 4,366 Net operating loss carryovers 14,578 13,423 Capitalized research 77,244 49,649 Tax credits 50,445 96,758 Total gross deferred tax assets 158,153 185,527 Deferred tax liabilities: Lease right-of-use assets (4,589) (5,501) Deferred revenue — (76) Depreciation and amortization (5,078) — Total gross deferred tax liabilities (9,667) (5,577) Total net deferred tax assets 148,486 179,950 Valuation allowance (25,056) (201,883) Net deferred tax assets (liabilities) $ 123,430 $ (21,933) As of December 31, (In thousands) 2023 2022 Reported as: Non-current deferred tax assets $ 127,892 $ 3,031 Non-current deferred tax liabilities (4,462) (24,964) Net deferred tax assets (liabilities) $ 123,430 $ (21,933) The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence, both positive and negative. The realizability of the Company’s net deferred tax assets is dependent on its ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. During the second quarter of 2023, based on all available positive and negative evidence, the Company determined that it was appropriate to release the valuation allowance on the majority of the Company’s U.S. federal and other state deferred tax assets. During the third quarter of 2023, the Company further adjusted its valuation allowance release as a result of a change in forecasted income and tax expense, primarily due to the sale of intangible assets as part of the PHY IP group divestiture. The Company recognized a $177.9 million tax benefit during the year ended December 31, 2023 as a result of the valuation allowance release. During the second quarter of 2023, the Company reached a cumulative income position over the previous three years. The cumulative three-year income is considered positive evidence, which is considered objective and verifiable, and thus received significant weighting. Additional positive evidence considered by the Company in its assessment included recent utilization of tax attribute carryforwards and future forecasts of continued profitability in the United States. Negative evidence the Company considered included economic uncertainties, including volatility of the industry, and the possibility of a recession or a decline in the market. Upon considering the relative impact of all evidence during the second quarter of 2023, both negative and positive, and the weight accorded to each, the Company concluded that it was more likely than not that the majority of its deferred tax assets would be realizable, with the exception of primarily its California research and development credits that have not met the “more likely than not” realization threshold criteria. As a result, the Company released the related valuation allowance against the majority of its federal and state deferred tax assets. The effect of the valuation allowance release is included as a component of the benefit from income taxes in the accompanying Consolidated Statements of Operations. The Company has U.S. federal deferred tax assets related to research and development credits, foreign tax credits and other tax attributes that can be used to offset U.S. federal taxable income in future periods. These credit carryforwards will expire if they are not used within certain time periods. It is possible that some or all of these attributes could ultimately expire unused. The following table presents the tax valuation allowance information for the years ended December 31, 2023, 2022 and 2021: (In thousands) Balance at Beginning of Period Charged (Credited) to Operations Charged to Other Account* Valuation Allowance Release Balance at End of Period Tax Valuation Allowance Year ended December 31, 2021 $ 174,119 32,544 211 — $ 206,874 Year ended December 31, 2022 $ 206,874 (7,233) 2,242 — $ 201,883 Year ended December 31, 2023 $ 201,883 1,776 (717) (177,886) $ 25,056 ______________________________________ * Amounts not charged to operations are charged to other comprehensive income or retained earnings. As of December 31, 2023, the Company had California and other state net operating loss carryforwards of $167.7 million and $0.8 million, respectively. As of December 31, 2023, the Company had federal research and development tax credit carryforwards of $45.2 million and foreign tax credits of $10.1 million. As of December 31, 2023, the Company had California research and development tax credit carryforwards of $28.1 million and California alternative minimum tax credit carryforwards of $0.5 million. The federal foreign tax credits and research and development credits begin to expire in 2024. Approximately $3.9 million of federal foreign tax credits will expire in 2024. The California net operating losses begin to expire in 2031. The California research and development credits carry forward indefinitely. In the event of a change in ownership, as defined under federal and state tax laws, the Company’s net operating loss and tax credit carryforwards could be subject to annual limitations. The annual limitations could result in the expiration of the net operating loss and tax credit carryforwards prior to utilization. As of December 31, 2023, the Company had $185.7 million of unrecognized tax benefits including $31.7 million recorded as a reduction of long-term deferred tax assets, $75.0 million recorded as a reduction of other assets associated with refundable withholding taxes previously withheld from licensees in South Korea and $78.9 million recorded to long-term income taxes payable, which are primarily comprised of $77.1 million in income taxes payable related to withholding taxes previously withheld from licensees in South Korea. As a result of recent court rulings in South Korea, the Company has determined that they may be entitled to refund claims for foreign taxes previously withheld from licensees in South Korea. If the Company is successful in recovering the $162.2 million of refundable withholding taxes from South Korea, the refund would result in an offsetting reduction in U.S. foreign tax credits. The Company recognizes that there are numerous risks and uncertainties associated with the ultimate collection of this refund. The Company previously maintained an offsetting reserve for the entire amount of refundable withholding taxes previously withheld in South Korea. During the year ended December 31, 2023, the Company concluded it is more likely than not it will recover withholding taxes withheld during the past five years and accordingly filed a claim in October 2023 for refund of certain refundable withholding taxes and recorded an income taxes receivable of $82.7 million, with an offsetting long-term payable of $72.6 million and a reduction in long-term deferred tax assets of $10.1 million for the reduction in U.S. foreign tax credits. The Company has recorded a receivable for the portion of withholding taxes paid subsequent to the third quarter of 2023 for which it intends to file a future refund claim. The Company has not recorded a receivable for the portion of potentially available refunds for which a claim for refund has not been submitted or for which the Company does not intend to pursue at this time, as the Company does not believe recovery of those taxes would be more likely than not if a refund claim were submitted. The Company continues to evaluate the potential for recovery of these taxes and has therefore established an offsetting reserve for the entire amount of potentially refundable withholding taxes previously withheld in South Korea, for which a claim for refund has not been submitted. As of December 31, 2022, the Company had $164.5 million of unrecognized tax benefits, including $19.6 million recorded as a reduction of long-term deferred tax assets, $143.6 million recorded as a reduction of other assets associated with refundable withholding taxes previously withheld from licensees in South Korea and $1.3 million recorded to long-term income taxes payable. A reconciliation of the beginning and ending amounts of unrecognized income tax benefits for the years ended December 31, 2023, 2022 and 2021 was as follows: Years Ended December 31, (In thousands) 2023 2022 2021 Balance as of January 1 $ 164,531 $ 146,215 $ 134,044 Tax positions related to current year: Additions 19,403 18,515 18,748 Tax positions related to prior years: Additions 1,378 — 615 Reductions (391) (199) (1,586) Settlements — — (5,606) Balance as of December 31 $ 184,921 $ 164,531 $ 146,215 The Company recognizes interest and penalties related to uncertain tax positions as a component of the income tax provision (benefit). At December 31, 2023 and 2022, an immaterial amount of interest and penalties was included in long-term income taxes payable. Rambus files income tax returns for the U.S., California, India and various other state and foreign jurisdictions. The U.S. federal returns are subject to examination from 2017 and forward. The California returns are subject to examination from 2018 and forward. In addition, any research and development credit carryforward or net operating loss carryforward generated in prior years and utilized in these or future years may also be subject to examination. The India returns are under examination by the Indian tax administration for tax years beginning with 2011, except for 2012 through 2015, which were assessed in the Company’s favor, and are subject to examination from 2016 and forward. These examinations may result in proposed adjustments to the income taxes as filed during these periods. Management regularly assesses the likelihood of outcomes resulting from income tax examinations to determine the adequacy of their provision for income taxes and believes their provision for unrecognized tax benefits is adequate. The estimated potential reduction in the Company’s unrecognized tax benefits in the next 12 months would not be material. At December 31, 2023, no other income taxes (state or foreign) have been provided on undistributed earnings of approximately $50.3 million from the Company’s international subsidiaries since these earnings have been, and under current plans will continue to be, indefinitely reinvested outside the United States, with the exception of France. If the non-France earnings were distributed, the Company would incur approximately $3.1 million of foreign withholding taxes and an immaterial amount of U.S. taxes.

Litigation and Asserted Claims

Litigation and Asserted Claims	12 Months Ended
Litigation and Asserted Claims	Dec. 31, 2023
Litigation And Asserted Claims Disclosure [Abstract]
Litigation and Asserted Claims	Litigation and Asserted Claims Rambus is not currently a party to any material pending legal proceeding; however, from time to time, Rambus may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not have a material adverse effect on its business, operating results, financial position or cash flows. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management attention and resources and other factors. The Company records a contingent liability when it is probable that a loss has been incurred and the amount is reasonably estimable in accordance with accounting for contingencies.

Divestiture

Divestiture	12 Months Ended
Divestiture	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	Divestiture In July 2023, the Company entered into an asset purchase agreement (the “Purchase Agreement”) with Cadence Design Systems, Inc. (the “Purchaser”), pursuant to which the Company agreed to sell certain assets and the Purchaser agreed to assume certain liabilities from the Company, in each case with respect to the Company’s PHY IP group, for $110.0 million in cash, subject to certain adjustments and certain closing conditions (the “Transaction”). The decision to sell this business reflects the evolution of the Company’s core semiconductor business to focus on the development of digital IP and chips, including novel memory solutions for high-performance computing, to support the continued advancement of the data center and artificial intelligence. The Transaction was completed on September 6, 2023 and resulted in net proceeds of approximately $106.3 million, which consisted of the initial selling price of $110.0 million offset by approximately $3.7 million related to certain purchase price adjustments. The Company recognized a net gain on divestiture of the PHY IP group in its Consolidated Statements of Operations of approximately $90.8 million during the year ended December 31, 2023. Transaction costs of approximately $1.4 million were included in the net gain of $90.8 million. The divestiture of the PHY IP group did not represent a strategic shift that would have a major effect on the Company’s consolidated results of operations, and therefore its results of operations were not reported as discontinued operations. Concurrent with the Transaction, the Company also recorded a charge of approximately $10.0 million in the Company’s Consolidated Statements of Operations during the year ended December 31, 2023. The charge was primarily related to the accelerated amortization of software licenses that were not directly part of the PHY IP disposal group.

Acquisitions (Notes)

Acquisitions (Notes)	12 Months Ended
Acquisitions (Notes)	Dec. 31, 2023
Business Combinations [Abstract]
Acquisitions	Acquisitions There were no acquisitions during the year ended December 31, 2023. 2022 Acquisition Hardent, Inc. On May 20, 2022, (the “Closing Date”), the Company completed its acquisition of Hardent, a leading electronic design company, by acquiring all of its outstanding shares. The Company acquired Hardent for a total consideration of approximately $16.1 million, which consisted of $14.7 million in initial cash consideration paid at the Closing Date, $1.2 million deposited into an escrow account to fund indemnification obligations to be released within 18 months after the Closing Date and $0.2 million deposited into an escrow account to fund other contractual provisions related to certain working capital adjustments. The addition of the technology and expertise from Hardent augments the Company’s CXL memory interconnect initiative. As part of the acquisition, the Company agreed to pay certain Hardent employees approximately $1.2 million in cash over three years following the Closing Date (the “Retention Bonus”), to be paid in three equal installments on each of the dates that were 12 months, 24 months and 36 months following the Closing Date. The Retention Bonus payouts are subject to the condition of continued employment, therefore the Retention Bonus payouts will be treated as compensation and will be expensed ratably over the retention period. As of December 31, 2022, the Company had incurred approximately $1.2 million in external acquisition costs in connection with the transaction, which were expensed as incurred. The fair value of the intangible assets acquired was determined by management primarily by using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected cash flows that are expected to be generated by the existing technologies less charges representing the contribution of other assets to those cash flows. The fair values of the remaining assets acquired and liabilities assumed approximated their carrying values at the Closing Date. The Company performed a valuation of the net assets acquired as of the Closing Date. The total consideration from the acquisition was allocated as of the Closing Date and reflects adjustments made during the measurement period to finalize the purchase price accounting, as follows: (In thousands) Total Cash and cash equivalents $ 209 Accounts receivable 1,088 Unbilled receivables 239 Prepaid expenses and other current assets 16 Identified intangible assets 5,000 Goodwill 12,069 Accounts payable (55) Deferred revenue (578) Income taxes payable (466) Deferred tax liability (1,325) Other current liabilities (56) Total $ 16,141 The goodwill arising from the acquisition was primarily attributed to synergies related to the combination of new and complementary technologies of the Company and the assembled workforce of the acquired business. This goodwill was not deductible for tax purposes. The identified intangible assets assumed in the acquisition of Hardent were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 4,800 5 years Customer contracts and contractual relationships 200 2 years Total $ 5,000 Unaudited Pro Forma Combined Consolidated Financial Information The following pro forma financial information presents the combined results of operations for the Company and Hardent as if the acquisition had occurred on January 1, 2021. The pro forma financial information was prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the acquisition actually taken place on January 1, 2021, and should not be taken as indicative of future consolidated operating results. Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition: Years Ended December 31, (In thousands) 2022 2021 (unaudited) Total revenue $ 457,852 $ 336,258 Net income (loss) $ (13,251) $ 19,452 The pro forma net loss for 2022 was adjusted to exclude $1.2 million of acquisition-related costs incurred during the year ended December 31, 2023. Consequently, the pro forma net income for 2021 was adjusted to include these costs. 2021 Acquisitions AnalogX Inc. On July 2, 2021 (the “AnalogX Closing Date”), the Company completed its acquisition of AnalogX, a premier interconnect IP company, by acquiring all of its outstanding shares. The Company acquired AnalogX for total consideration of approximately $47.5 million, including certain adjustments for working capital, which consisted of $40.4 million in initial cash consideration at the AnalogX Closing Date and additional deferred payments totaling approximately $7.4 million, initially recorded at its present value of approximately $7.1 million, (the “Deferred Payments”). The Deferred Payments will be paid in cash over three years following the AnalogX Closing Date, in three installments on each of the dates that are 12 months, 24 months and 36 months following the AnalogX Closing Date. A portion of the purchase price, $5.9 million of the consideration, was deposited into an escrow account to fund indemnification obligations and other contractual provisions, to be released 12 months after the AnalogX Closing Date. The addition of the technology and expertise from AnalogX augments the Company’s SerDes offerings and CXL memory interconnect initiative. As part of the acquisition, the Company agreed to pay certain AnalogX employees $3.5 million in cash over three years following the AnalogX Closing Date (the “AnalogX Retention Bonus”), to be paid in three equal installments on each of the dates that are 12 months, 24 months and 36 months following the AnalogX Closing Date. The AnalogX Retention Bonus payouts are subject to the condition of continued employment. Therefore, the AnalogX Retention Bonus payouts will be treated as compensation and will be expensed ratably over the retention period. As of December 31, 2021, the Company had incurred approximately $0.8 million in external acquisition costs in connection with the transaction, which were expensed as incurred. The fair value of the intangible assets acquired was determined by management primarily by using the estimated current replacement cost under the cost approach. The fair values of the remaining assets acquired and liabilities assumed approximated their carrying values at the AnalogX Closing Date. The Company performed a valuation of the net assets acquired as of the AnalogX Closing Date. The total consideration from the business combination was allocated as of the Closing Date and reflects adjustments made through the measurement period to finalize the purchase price accounting, as follows: (In thousands) Total Cash and cash equivalents $ 2,763 Accounts receivable 280 Unbilled receivables 1,566 Prepaid expenses and other current assets 1,354 Identified intangible assets 6,800 IPR&D 3,800 Goodwill 39,309 Property, plant and equipment, net 118 Accounts payable (1,112) Deferred revenue (23) Income taxes payable (7,127) Other current liabilities (215) Total $ 47,513 The goodwill arising from the acquisition was primarily attributed to synergies related to the combination of new and complementary technologies of the Company and the assembled workforce of the acquired business. Approximately $26.9 million of the goodwill was deductible for tax purposes. The identified intangible assets assumed in the acquisition of AnalogX were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 6,300 5 years Customer contracts and contractual relationships 500 2 years IPR&D 3,800 Not applicable Total $ 10,600 IPR&D consisted of multiple projects relating to the development of various high-speed SerDes technologies. The projects were expected to be completed within the subsequent three years. In the third quarter of 2023, the Company disposed the $3.8 million related to the AnalogX IPR&D in connection with the divestiture of the Company’s PHY IP group. Refer to Note 20, “Divestiture,” for additional information. PLDA Group On June 16, 2021, the Company announced that it had entered into an agreement to acquire PLDA, a provider of high-speed interconnect solutions. On August 18, 2021 (the “PLDA Closing Date”), the Company completed its acquisition of PLDA by acquiring all of its outstanding shares. Under the terms of the Share Purchase Agreement, the total consideration of approximately $85.6 million was comprised of $67.1 million in closing cash consideration, 0.3 million shares of the Company’s common stock (valued based on the Company’s closing stock price at the PLDA Closing Date, which amounted to approximately $6.9 million) and up to an additional $21.0 million to be paid in shares of common stock, valued at $16.9 million as of the acquisition date (the “fair value of the earn-out liability”), subject to certain revenue targets of the acquired business for the subsequent three years. The fair value of the earn-out liability will be remeasured each quarter, depending on the acquired business’s revenue performance relative to target over the applicable period. The Company classified its liability for the contingent earn-out consideration related to the PLDA acquisition within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. A portion of the purchase price, $10.0 million of the consideration, was deposited into an escrow account to fund indemnification obligations and other contractual provisions, to be released 24 months after the PLDA Closing Date. The addition of the technology and expertise from PLDA augments the Company’s digital controller IP and CXL memory interconnect initiative. As part of the acquisition, the Company agreed to pay certain PLDA employees $3.0 million in cash over three years following the PLDA Closing Date (the “PLDA Retention Bonus”), to be paid in three equal installments on each of the dates that were 12 months, 24 months and 36 months following the PLDA Closing Date. The PLDA Retention Bonus payouts are subject to the condition of continued employment. Therefore, the PLDA Retention Bonus payouts will be treated as compensation and expensed ratably over the retention period. As of December 31, 2021, the Company had incurred approximately $1.4 million in external acquisition costs in connection with the transaction, which were expensed as incurred. The fair value of the intangible assets acquired was determined by management primarily by using the multi-period excess earnings method under the income approach. This method reflects the present value of the projected cash flows that are expected to be generated by the existing technologies less charges representing the contribution of other assets to those cash flows. The fair values of the remaining assets acquired and liabilities assumed approximated their carrying values at the PLDA Closing Date. The Company performed a valuation of the net assets acquired as of the PLDA Closing Date. The total consideration from the business combination was allocated as of the Closing Date as follows: (In thousands) Total Cash and cash equivalents $ 5,820 Accounts receivable 2,233 Inventories 125 Prepaid expenses and other current assets 836 Identified intangible assets 21,400 IPR&D 7,400 Goodwill 57,543 Property, plant and equipment, net 679 Operating lease right-of-use asset 864 Other assets 339 Accounts payable (1,046) Accrued salaries and benefits (814) Deferred revenue (514) Income taxes payable (118) Operating lease liability (852) Deferred tax liability (8,180) Other current liabilities (74) Total $ 85,641 The goodwill arising from the acquisition was primarily attributed to synergies related to the combination of new and complementary technologies of the Company and the assembled workforce of the acquired business. This goodwill was not deductible for tax purposes. The identified intangible assets assumed in the acquisition of PLDA were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 20,400 3 to 5 years Customer contracts and contractual relationships 1,000 2 years IPR&D 7,400 Not applicable Total $ 28,800 IPR&D consisted of multiple projects relating to the development of PLDA’s PCIe Gen 6 and CXL 3.0 technologies. The projects are expected to be completed within 36 months from the date of acquisition. The acquired IPR&D will not be amortized until completion of the related products which are determined by when the underlying project reaches technological feasibility and commences commercial production. Upon completion, the IPR&D projects will be amortized over their respective useful lives, which are expected to range between three years and five years. Unaudited Pro Forma Combined Consolidated Financial Information The following pro forma financial information presents the combined results of operations for the Company and AnalogX and PLDA as if the acquisitions had occurred on January 1, 2020. The pro forma financial information was prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the acquisitions actually taken place on January 1, 2020, and should not be taken as indicative of future consolidated operating results. Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisitions: (In thousands) For the Year Ended December 31, 2021 (unaudited) Total revenue $ 338,961 Net income $ 16,533 The pro forma net income for 2021 was adjusted to exclude $2.2 million of acquisition-related costs incurred in 2021.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ 333,904	$ (14,310)	$ 18,334

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During our last fiscal quarter, the below directors and/or officers, as defined in Rule 16a-1(f), adopted and/or terminated a “Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K. The Rule 10b5-1 trading arrangements are each intended to satisfy the affirmative defense in Rule 10b5-1(c)(1). Name Title Adopted or Terminated Adoption Date Termination Date Total Number of Shares of Common Stock Sold or to be Sold Desmond M. Lynch Senior Vice President, Finance and Chief Financial Officer Terminated (1) September 7, 2023 December 8, 2023 8,365 Luc Seraphin President and Chief Executive Officer Adopted November 13, 2023 November 13, 2024 Up to 356,654 John Shinn Senior Vice President and General Counsel Adopted December 7, 2023 December 7, 2024 Up to 42,444 Desmond M. Lynch Senior Vice President, Finance and Chief Financial Officer Adopted December 11, 2023 December 11, 2024 7,837 ______________________________________ (1) On December 8, 2023, all 8,365 shares to be sold under the plan had been sold. Therefore the plan originally scheduled to terminate on September 7, 2024, was deemed terminated as of December 8, 2023.
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Luc Seraphin [Member]
Trading Arrangements, by Individual
Name	Luc Seraphin
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 13, 2023
Termination Date	November 13, 2024
Arrangement Duration	366 days
Aggregate Available	356,654	356,654
John Shinn [Member]
Trading Arrangements, by Individual
Name	John Shinn
Title	Senior Vice President and General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 7, 2023
Termination Date	December 7, 2024
Arrangement Duration	366 days
Aggregate Available	42,444	42,444
Sean Fan [Member]
Trading Arrangements, by Individual
Arrangement Duration	366 days
Desmond M. Lynch September 2023 Plan [Member] \| Desmond M. Lynch [Member]
Trading Arrangements, by Individual
Name	Desmond M. Lynch
Title	Senior Vice President, Finance and Chief Financial Officer
Adoption Date	September 7, 2023
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 8, 2023
Arrangement Duration	92 days
Desmond M. Lynch December 2023 Plan [Member] \| Desmond M. Lynch [Member]
Trading Arrangements, by Individual
Name	Desmond M. Lynch
Title	Senior Vice President, Finance and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2023
Termination Date	December 11, 2024
Arrangement Duration	366 days
Aggregate Available	7,837	7,837

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Financial Statement Presentation	Financial Statement Presentation The accompanying consolidated financial statements include the accounts of Rambus and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated on the accompanying consolidated financial statements. Investments in entities with more than 20% ownership by Rambus and in which Rambus has the ability to significantly influence the operations of the investee (but not control) are accounted for using the equity method and are included in other assets.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods and services in an amount that reflects the consideration it expects to receive in exchange for those goods and services. Goods and services that are distinct are accounted for as separate performance obligations. Where an arrangement includes multiple performance obligations, the transaction price is allocated to these on a relative standalone selling price basis. The Company has established standalone selling prices for the majority of its distinct offerings - specifically, the same pricing methodology is consistently applied to all licensing arrangements; all services offerings are priced within tightly controlled bands and all contracts that include support and maintenance state a renewal rate or price that is systematically enforced. For certain contracts, the Company utilizes the residual approach to estimate standalone selling prices primarily for service offerings sold to customers at highly variable pricing. The Company’s revenue consists of product, royalty and contract and other revenue. Products primarily consist of memory interface chips sold directly and indirectly to module manufacturers and OEMs worldwide through multiple channels, including its direct sales force and distributors. Royalty revenue consists of patent and technology license royalties. Contract and other revenue consists of software license fees, engineering fees associated with integration of the Company’s technology solutions into its customers’ products and support and maintenance fees. Product Revenue Product revenue is recognized upon shipment of product to customers, net of accruals for estimated sales returns and allowances, and to distributors, net of accruals for price protection and rights of return on products unsold by the distributors. The Company transacts with direct customers primarily pursuant to standard purchase orders for delivery of products and generally allows customers to cancel or change purchase orders within limited notice periods prior to the scheduled shipment date. Royalty Revenue Rambus’ patent and technology licensing arrangements generally range between one year and ten years in duration and generally grant the licensee the right to use applicable portions of the Company’s entire IP portfolio as it evolves over time. These arrangements do not typically grant the licensee the right to terminate for convenience and where such rights exist, termination is prospective, with no refund of fees already paid or cancellation of fees already incurred by the licensee. Patent and technology licensing arrangements result in fixed payments received over time, with guaranteed minimum payments on occasion, variable payments calculated based on the licensee’s sale or use of the IP, or a mix of fixed and variable payments. • For fixed-fee arrangements (including arrangements that include minimum guaranteed amounts), the Company recognizes revenue upon control over the underlying IP use right transferring to the licensee, net of the effect of significant financing components calculated using customer-specific, risk-adjusted lending rates typically ranging between 5% and 10%, with the related interest income recognized over time on an effective rate basis. Where a licensee has the contractual right to terminate a fixed-fee arrangement for convenience without any substantive penalty payable upon such termination, the Company recognizes revenue for the duration of the contract in which the parties have present enforceable rights and obligations. • For variable arrangements, the Company recognizes revenue based on an estimate of the licensee’s sale or usage of the IP during the period the licensee’s sale or usage occur, typically quarterly, with a true-up recorded, if required, when the Company receives the actual royalty report from the licensee. • The Company recognizes license renewal revenue commencing with the start of the renewal period. Contract and Other Revenue Contract and other revenue consists of software license fees and engineering fees associated with integration of the Company’s technology solutions into its customers’ products, and support and maintenance. An initial software arrangement may consist of a term-based or perpetual license, significant software customization services and support and maintenance services that include post-implementation customer support and the right to unspecified software updates and enhancements on a when and if available basis. The Company recognizes license and customization services revenue at a point in time when final delivery is made or based on an over time model, depending on the nature and amount of customization. For the over time model, the Company recognizes revenue over time by measuring the progress toward complete satisfaction of that performance obligation. The Company measures progress using an input method. License and customization services revenue recognized over time, which is reported as part of contract and other revenue, was approximately $6.1 million for the year ended December 31, 2023. Due to the nature of the work performed in these arrangements, the estimation of the over time model may involve judgment. The key factor reviewed by management to estimate costs to complete each contract is the estimated man-months necessary to complete the project. The Company recognizes support and maintenance revenue over time. Significant Judgments The only significant judgment required in determining the amount and timing of revenue from the Company’s contracts with customers is determining the estimated man-months necessary for completing development and customization services. The Company has adequate tools and controls in place, and substantial experience and expertise in timely and accurately tracking man-months incurred in completing customization and other professional services, and quantifying significant changes in estimates. Key estimates used in recognizing revenue predominantly consist of the following: • For contract revenue where the Company recognizes revenue over time, the key factor reviewed by management to estimate costs to complete each contract is the estimated man-months necessary to complete the project. • For fixed-fee arrangements in which cash is being received over a period exceeding one year, the Company calculates a customer-specific lending rate using a Daily Treasury Yield Curve Rate that changes depending on the date on which the licensing arrangement was entered into and the term (in years) of the arrangement, and takes into consideration a licensee-specific risk profile determined based on a review of the licensee’s “Full Company View” Dun & Bradstreet report obtained on the date the licensing arrangement was signed by the parties, with a risk premium being added to the Daily Treasury Yield Curve Rate considering the overall business risk, financing strength and risk indicators, as listed. • The Company recognizes revenue on variable fee licensing arrangements on the basis of sales and usage which the Company is required to estimate prior to receiving the final related reports from its customers. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to the Company’s customers. The Company records contract assets when revenue is recognized prior to invoicing, and a contract liability when revenue is recognized subsequent to invoicing. The contract assets are transferred to receivables when the billing occurs.
Cost of Revenue	Cost of Revenue Cost of revenue includes cost of professional services, materials, including cost of wafers processed by third-party foundries, cost associated with packaging and assembly, test and shipping, cost of personnel, including stock-based compensation, and equipment associated with manufacturing support, logistics and quality assurance, warranty cost, amortization of existing technology, write-down of inventories, amortization of production mask costs, overhead and an allocated portion of occupancy costs.
Leases	Leases The Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and seven years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities and long-term operating lease liabilities in the Company’s Consolidated Balance Sheets. The Company does not have any finance leases. The Company determines if an arrangement is a lease, or contains a lease, at inception. The Company assesses all relevant facts and circumstances in making the determination of the existence of a lease. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments over the term. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments, and uses the implicit rate when readily determinable. Many of the Company’s leases include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and the Company does not separate non-lease components from lease components. Operating lease costs are included in research and development and selling, general and administrative costs in the Company’s Consolidated Statements of Operations.
Goodwill and Intangible Assets	Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill is not subject to amortization, but is subject to at least an annual assessment for impairment. The Company performs its impairment analysis of goodwill on an annual basis during the fourth quarter of the year unless conditions arise that warrant a more frequent evaluation. When goodwill is assessed for impairment, the Company has the option to perform an assessment of qualitative factors of impairment (optional assessment) prior to necessitating a quantitative impairment test. Should the optional assessment be used for any given year, qualitative factors to consider for a reporting unit include: cost factors; financial performance; legal, regulatory, contractual, political, business, or other factors; entity specific factors; industry and market considerations; macroeconomic conditions; and other relevant events and factors affecting the reporting unit. If the Company determines in the qualitative assessment that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For a reporting unit tested using a quantitative approach, the Company compares the fair value of the reporting unit with the carrying amount of the reporting unit, including goodwill. The fair value of the reporting unit is estimated using an income approach. Under the income approach, the Company measures fair value of the reporting unit based on a projected cash flow method using a discount rate determined by its management which is commensurate with the risk inherent in its current business model. The Company’s discounted cash flow projections are based on annual financial forecasts developed internally by management for use in managing its business. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, then the amount of goodwill impairment will be the amount by which the reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company performed its annual goodwill impairment analysis as of December 31, 2023 and determined that there was no impairment of its goodwill. For the years ended December 31, 2022 and 2021, the Company did not recognize any goodwill impairment charges. Intangible Assets Intangible assets are comprised of existing technology, customer contracts and contractual relationships, and other definite-lived and indefinite-lived intangible assets. Identifiable intangible assets resulting from the acquisitions of entities accounted for using the purchase method of accounting are estimated by management based on the fair value of assets received. Identifiable definite-lived intangible assets are being amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from six months to ten Acquired indefinite-lived intangible assets related to the Company’s in-process research and development (“IPR&D”) are capitalized and subject to impairment testing until completion or abandonment of the projects. Upon successful completion of each project, the Company makes a separate determination of the useful life of the acquired indefinite-lived intangible assets and the related amortization is recorded as an expense over the estimated useful life of the specific projects. Indefinite-lived intangible assets are subject to at least an annual assessment for impairment, applying a fair-value based test. The Company first performs a qualitative assessment to determine whether it is more likely than not (more than 50 percent likelihood) that the indefinite-lived intangible assets are impaired. If after assessing the totality of events and circumstances and their potential effect on significant inputs to the fair value determination, the Company determines that it is more likely than not that the indefinite-lived intangible assets are impaired, then the Company performs a quantitative impairment test by comparing the fair value of the intangible assets with its carrying amount. The Company measures fair value of the indefinite-lived intangible assets under the income approach based on a projected cash flow method using a discount rate determined by its management which is commensurate with the risk inherent in its current business model. The Company’s discounted cash flow projections are based on its annual financial forecasts developed internally by management for use in managing its business. If the fair value of the indefinite-lived intangible assets exceeds its carrying value, the indefinite-lived intangible assets are not impaired and no further testing is required. If the implied fair value of the indefinite-lived intangible assets is less than the carrying value, the difference is recorded as an impairment loss.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Inventories are reduced for write-downs based on periodic reviews for evidence of slow-moving or obsolete parts. The write-down is based on comparison between inventory on hand and estimated future sales for each specific product. Once written down, inventory write-downs are not reversed until the inventory is sold or scrapped. Inventory write-downs are also established when conditions indicate that the net realizable value is less than cost due to physical deterioration, obsolescence, changes in price level or other causes.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment include computer software, computer equipment, leasehold improvements, machinery, and furniture and fixtures. Computer software, computer equipment, machinery, and furniture and fixtures are stated at cost and generally depreciated on a straight-line basis over an estimated useful life of three years, three years, seven years and three years, respectively. Refer to Note 11, “Balance Sheet Details,” for additional information. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the remaining terms of the leases. Upon disposal, assets and related accumulated depreciation are removed from the accounts and the related gain or loss is included in the results from operations.
Definite-Lived Asset Impairment	Definite-Lived Asset Impairment The Company evaluates definite-lived assets (including property, plant and equipment and intangible assets) for impairment whenever events or changes in circumstances indicate the carrying value of an asset group may not be recoverable. The carrying value is not recoverable if it exceeds the undiscounted cash flows resulting from the use of the asset group and its eventual disposition. The Company’s estimates of future cash flows attributable to its asset groups require significant judgment based on its historical and anticipated results and are subject to many factors. Factors that the Company considers important which could trigger an impairment review include significant negative industry or economic trends, significant loss of clients and significant changes in the manner of its use of the acquired assets or the strategy for its overall business. When the Company determines that the carrying value of the asset groups may not be recoverable based upon the existence of one or more of the above indicators of impairment, the Company measures the potential impairment based on a projected discounted cash flow method using a discount rate determined by the Company to be commensurate with the risk inherent in the Company’s current business model. An impairment loss is recognized only if the carrying amount of the asset group is not recoverable and exceeds its fair value. The impairment charge is recorded to reduce the pre-impairment carrying amount of the assets based on the relative carrying amount of those assets, though not to reduce the carrying amount of an asset below its fair value. Different assumptions and judgments could materially affect the calculation of the fair value of the assets. During 2023, 2022 and 2021, the Company did not recognize any impairment of its definite-lived and indefinite-lived assets.
Income Taxes	Income Taxes Income taxes are accounted for using an asset and liability approach, which requires the recognition of deferred tax assets and liabilities for expected future tax events that have been recognized differently in the Company’s consolidated financial statements and tax returns. The measurement of current and deferred tax assets and liabilities is based on provisions of the enacted tax law and the effects of future changes in tax laws or rates are not anticipated. A valuation allowance is established when necessary to reduce deferred tax assets to amounts expected to be realized based on available evidence. In addition, the calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations. As a result, the Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in its tax return. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes.
Stock-Based Compensation and Equity Incentive Plans	Stock-Based Compensation and Equity Incentive Plans The Company maintained stock plans covering a broad range of equity grants including stock options, nonvested equity stock and equity stock units and performance-based instruments. In addition, the Company sponsors an Employee Stock Purchase Plan (“ESPP”), whereby eligible employees are entitled to purchase common stock semi-annually, by means of limited payroll deductions, at a 15% discount from the fair market value of the common stock as of specific dates. The Company determines compensation expense associated with restricted stock units based on the fair value of its common stock on the date of grant. The Company determines compensation expense associated with stock options based on the estimated grant-date fair value method using the Black-Scholes Merton (“BSM”) valuation model. The Company generally recognizes compensation expense using a straight-line amortization method over the respective vesting period for awards that are ultimately expected to vest. Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 has been reduced for estimated forfeitures. When estimating forfeitures, the Company considers voluntary termination behaviors, as well as trends of actual option forfeitures.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents are investments with original maturity of three months or less at the date of purchase. The Company maintains its cash balances with high-quality financial institutions. Cash equivalents are invested in highly rated, liquid money market securities, time deposits and certain U.S. government sponsored obligations.
Marketable Securities	Marketable Securities Rambus invests its excess cash and cash equivalents primarily in U.S. government-sponsored obligations, corporate bonds, commercial paper and notes, time deposits and money market funds that mature within three years. Available-for-sale securities are carried at fair value, based on quoted market prices, with the unrealized gains or losses reported, net of tax, in stockholders’ equity as part of accumulated other comprehensive income (loss). The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, both of which are included in interest and other income, net. Realized gains and losses are recorded on the specific identification method and are included in interest and other income, net. The Company reviews its investments in marketable securities for possible other than temporary impairments on a regular basis. If any loss on investment is believed to be a credit loss, a charge will be recognized in operations. In evaluating whether a credit loss on a debt security has occurred, the Company considers the following factors: 1) the Company’s intent to sell the security, 2) if the Company intends to hold the security, whether or not it is more likely than not that the Company will be required to sell the security before recovery of the security’s amortized cost basis and 3) even if the Company intends to hold the security, whether or not the Company expects the security to recover the entire amortized cost basis. Due to the high credit quality and short-term nature of the Company’s investments, there have been no material credit losses recorded to date. The classification of funds between short-term and long-term is based on whether the securities are available for use in operations or other purposes.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value measurement statement defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and requires disclosure that establishes a framework for measuring fair value and expands disclosure about fair value measurements. The statement requires that fair value measurement be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company uses unadjusted quotes to determine fair value. The financial assets in Level 1 include money market funds. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. The Company uses observable pricing inputs including benchmark yields, reported trades and broker/dealer quotes. The financial assets in Level 2 include U.S. government bonds and notes, and corporate bonds, commercial paper and notes. Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, and the Company considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of non-performance. The Company does not have any financial assets or liabilities in Level 3 as of December 31, 2023 and 2022, except for the Company’s liability for the earn-out consideration related to the PLDA acquisition, which is recorded within other long-term liabilities. The Company has classified this liability within Level 3 of the fair value hierarchy because the fair value is determined using significant unobservable inputs. Refer to Note 9, “Fair Value of Financial Instruments and Note 21, “Acquisitions,” for additional information. The carrying value of cash equivalents, accounts receivable and accounts payable approximate their fair values due to their relatively short maturities as of December 31, 2023 and 2022. The Company’s financial instruments are measured and recorded at fair value, except for equity method investments and convertible notes. Marketable securities are comprised of available-for-sale securities that are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income (loss), a component of stockholders’ equity, net of tax. Fair value of the marketable securities is determined based on quoted market prices. The fair value of the Company’s convertible notes fluctuated with interest rates and with the market price of the common stock, but did not affect the carrying value of the debt on the balance sheet. The Company’s non-financial assets, such as goodwill, intangible assets and property, plant and equipment, are measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized. The Company’s equity method investments were initially recognized at cost, and the carrying amount was increased or decreased to recognize the Company’s share of the profit or loss of the investee after the date of acquisition. The Company’s share of the investee’s profit or loss was recognized in the Company’s Consolidated Statements of Operations. Distributions received from an investee reduced the carrying amount of the investment.
Research and Development	Research and Development Costs incurred in research and development, which include engineering expenses, such as salaries and related benefits, stock-based compensation, depreciation, professional services and overhead expenses related to the general development of the Company’s products, are expensed as incurred. Software development costs are capitalized beginning when a product’s technological feasibility has been established and ending when a product is available for general release to customers. The Company has not capitalized any software development costs in the period between establishing technological feasibility and general customer release since the period is relatively short and as such, these costs have not been material.
Computation of Earnings (Loss) Per Share	Computation of Earnings (Loss) Per Share Basic earnings (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing the earnings (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of incremental common shares issuable upon exercise of stock options, employee stock purchases, and restricted stock and restricted stock units, and shares issuable upon the conversion of convertible notes. The dilutive effect of outstanding shares is reflected in diluted earnings per share by application of the treasury stock method, or the if-converted method for the in-the-money conversion benefit feature of the 2023 Notes. This method includes consideration of the amounts to be paid by the employees, the amount of excess tax benefits that would be recognized in equity if the instrument was exercised and the amount of unrecognized stock-based compensation related to future services. No potential dilutive common shares are included in the computation of any diluted per share amount when a net loss is reported.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including foreign currency translation adjustments and unrealized gains and losses on marketable securities. Other comprehensive income (loss), net of tax, is presented in the Consolidated Statements of Comprehensive Income (Loss).
Credit Concentration	Credit Concentration As of December 31, 2023 and 2022, the Company’s cash, cash equivalents and marketable securities were invested with various financial institutions in the form of corporate bonds, commercial paper and notes, money market funds, U.S. Treasuries and U.S. Government Agencies. The Company’s exposure to market risk for changes in interest rates relates primarily to its investment portfolio. The Company places its investments with high-credit issuers and, by investment policy, attempts to limit the amount of credit exposure to any one issuer. As stated in the Company’s investment policy, it will ensure the safety and preservation of the Company’s invested funds by limiting default risk and market risk. The Company has no investments denominated in foreign country currencies and therefore is not subject to foreign exchange risk from these assets. The Company holds cash, cash equivalents and marketable securities in excess of federally insured limits. The Company mitigates default risk by investing in high credit quality securities and by positioning its portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor. The portfolio includes only marketable securities with active secondary or resale markets to enable portfolio liquidity. The Company’s accounts receivable are derived from revenue earned from customers located in the U.S. and internationally. Refer to Note 7, “Segments and Major Customers,” for additional information. The Company’s unbilled receivables are collected from customers located in the U.S. and internationally. Refer to Note 4, “Revenue Recognition,” for additional information.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company has on occasion, entered into foreign currency forward contracts (the “Contracts”) to manage the Company’s exposure related to certain foreign currency denominated monetary assets (the “Hedging Program”) and to minimize the related impact of foreign currency fluctuations on the Company’s earnings. The hedged monetary assets primarily consisted of certain euro-denominated cash and accounts receivable balances. The Contracts mitigate the Company’s foreign currency exposure when the Contracts are settled at their maturity by generally offsetting the gains and losses generated by the re-measurement of the underlying monetary assets. The Contracts are typically entered into at the end of a month, with an approximately one month duration at inception. Due to the short duration of these Contracts, their fair value has been deemed immaterial. As the Contracts were considered derivative instruments that were not designated and did not qualify as hedging instruments, any gains and losses resulting from changes in their fair value were recorded to interest income and other income (expense), net in the Company’s Consolidated Statements of Operations. The Company does not use its Hedging Program for speculative or trading purposes.
Foreign Currency Translation and Re-Measurement	Foreign Currency Translation and Re-Measurement The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. Revenue and expenses for these subsidiaries are translated using rates that approximate those in effect during the period. Gains and losses from these translations are recognized in foreign currency translation included in accumulated other comprehensive gain (loss) in the Company’s Consolidated Statements of Stockholders’ Equity. The Company’s subsidiaries that use the U.S. dollar as their functional currency re-measure monetary assets and liabilities at exchange rates in effect at the end of each period, and inventories, property and non-monetary assets and liabilities at historical rates. Additionally, foreign currency transaction gains and losses are included in interest income and other (income) expense, net, in the Company’s Consolidated Statements of Operations and were not material in the periods presented.
Business Combinations	Business Combinations The Company accounts for acquisitions of businesses using the purchase method of accounting, which requires the Company to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, as well as contingent consideration, where applicable, the estimates are inherently uncertain and subject to refinement. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Company’s Consolidated Statements of Operations. Accounting for business combinations requires management to make significant estimates and assumptions, especially at the acquisition date including the Company’s estimates for intangible assets, contractual obligations assumed and pre-acquisition contingencies where applicable. Although the Company believes the assumptions and estimates made in the past have been reasonable and appropriate, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. On May 20, 2022, the Company completed the acquisition of Hardent, Inc. and applied judgment in estimating the fair value of the intangible assets from the acquisition. This involved the use of assumptions related to revenue growth rates and discount rates for the existing technology acquired, and the use of assumptions related to cost of labor to recreate the intangible assets for the customer contracts and contract relationships acquired. Unanticipated events and circumstances may occur that may affect the accuracy or validity of such assumptions, estimates, or actual results.
Litigation	Litigation The Company may be involved in certain legal proceedings. Based upon consultation with outside counsel handling its defense in these matters and an analysis of potential results, if the Company believes that a loss arising from such matters is probable and can be reasonably estimated, the Company records the estimated liability in its consolidated financial statements. If only a range of estimated losses can be determined, the Company records an amount within the range that, in its judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, the Company records the low end of the range. Any such accrual would be charged to expense in the appropriate period. The Company recognizes litigation expenses in the period in which the litigation services were provided.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract balances	The Company’s contract balances were as follows: As of December 31, (In thousands) 2023 2022 Unbilled receivables $ 55,295 $ 150,920 Deferred revenue 18,085 25,421

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
Earnings (Loss) Per Share (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Computation of basic and diluted income (loss) per share	The following table sets forth the computation of basic and diluted net income (loss) per share: For the Years Ended December 31, (In thousands, except per share amounts) 2023 2022 2021 Net income (loss) per share: Numerator: Net income (loss) $ 333,904 $ (14,310) $ 18,334 Denominator: Weighted-average common shares outstanding - basic 108,183 109,472 110,538 Effect of potential dilutive common shares 2,706 — 4,327 Weighted-average common shares outstanding - diluted 110,889 109,472 114,865 Basic net income (loss) per share $ 3.09 $ (0.13) $ 0.17 Diluted net income (loss) per share $ 3.01 $ (0.13) $ 0.16
Schedule of antidilutive securities excluded from computation of earnings per share	The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to the Company’s common stockholders for the year ended December 31, 2022 because the impact of including them would have been anti-dilutive (in thousands): For the Year Ended December 31, (In thousands) 2022 Stock options 282 Restricted stock units 2,361 Potentially issuable shares related to the in-the-money conversion benefit feature of convertible notes 175 Total 2,818

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
Intangible Assets and Goodwill (Tables)	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in carrying amount of goodwill	The following tables present goodwill information for the years ended December 31, 2023 and December 31, 2022: (In thousands) December 31, Divestiture of Goodwill (1) December 31, Total goodwill $ 292,040 $ (5,228) $ 286,812 ______________________________________ (1) In September 2023, the Company divested its PHY IP group, which resulted in the Company recognizing a decrease in goodwill based on the relative fair value of the Company’s single reporting unit in proportion to the fair value of the divested PHY IP group. Refer to Note 20, “Divestiture,” for additional information. (In thousands) December 31, Additions to Goodwill (1) Adjustment to Goodwill (2) Effect of Exchange Rates (3) December 31, Total goodwill $ 278,810 $ 12,069 $ 1,013 $ 148 $ 292,040 ______________________________________ (1) In May 2022, the Company acquired Hardent, Inc. (“Hardent”), which resulted in the Company recognizing additional goodwill. Refer to Note 21, “Acquisitions,” for additional information. (2) The adjustment to goodwill primarily includes a correction of an immaterial error related to an understatement in other current liabilities that originated from the acquisition of AnalogX Inc. (“AnalogX”) in 2021 and working capital adjustments from the acquisition of Hardent within the measurement period of one year. (3) Effect of exchange rates relates to foreign currency translation adjustments for the period.
Components of intangible assets	The components of the Company’s intangible assets as of December 31, 2023 and December 31, 2022 were as follows: As of December 31, 2023 (In thousands, except useful life) Useful Life Gross Carrying Amount (1) Accumulated Amortization (1) Net Carrying Amount Existing technology 3 to 10 years $ 286,712 $ (265,756) $ 20,956 Customer contracts and contractual relationships 0.5 to 10 years 37,496 (37,083) 413 Non-compete agreements and trademarks 3 years 300 (300) — IPR&D Not applicable 7,400 — 7,400 Total intangible assets $ 331,908 $ (303,139) $ 28,769 ______________________________________ (1) In September 2023, the Company disposed of approximately $7.4 million of net intangible assets (including $3.8 million of IPR&D) in connection with the divestiture of the Company’s PHY IP group. Refer to Note 20, “Divestiture,” for additional information. As of December 31, 2022 (In thousands, except useful life) Useful Life Gross Carrying Amount (1) (2) Accumulated Amortization (1) (2) Net Carrying Amount Existing technology 3 to 10 years $ 299,925 $ (261,708) $ 38,217 Customer contracts and contractual relationships 0.5 to 10 years 37,996 (36,533) 1,463 Non-compete agreements and trademarks 3 years 300 (300) — IPR&D Not applicable 11,200 — 11,200 Total intangible assets $ 349,421 $ (298,541) $ 50,880 ______________________________________ (1) During the year ended December 31, 2022, the Company acquired certain intangible assets for $3.0 million in cash. The assets were classified as existing technology and are being amortized over their expected useful life of five years. During the year ended December 31, 2022, the amortization for the acquired assets was not material. (2) In May 2022, the Company acquired Hardent, which resulted in the Company recognizing additional intangible assets. Refer to Note 21, “Acquisitions,” for additional information.
Estimated future amortization expense of intangible assets	The estimated future amortization expense of intangible assets as of December 31, 2023 was as follows (in thousands): Years Ending December 31: Amount 2024 $ 11,742 2025 5,427 2026 3,739 2027 461 2028 — Thereafter — Total amortizable purchased intangible assets 21,369 IPR&D 7,400 Total intangible assets $ 28,769

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2023
Concentration risk
Revenue from external customer by geographic regions	Revenue from customers in the geographic regions based on the location of contracting parties was as follows: Years Ended December 31, (In thousands) 2023 2022 2021 United States $ 176,821 $ 277,776 $ 211,419 South Korea 152,328 7,222 6,007 Singapore 53,327 57,309 39,798 Other 78,641 112,486 71,080 Total $ 461,117 $ 454,793 $ 328,304
Accounts receivable
Concentration risk
Schedule of customer accounts representing 10% or more than 10% of total balance	Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable at December 31, 2023 and 2022, respectively, was as follows: As of December 31, Customer 2023 2022 Customer 1 49 % * Customer 2 13 % 14 % Customer 3 12 % * Customer 4 * 23 % Customer 5 * 16 % _________________________________________ * Customer accounted for less than 10% of total accounts receivable in the period.
Revenue
Concentration risk
Schedule of customer accounts representing 10% or more than 10% of total balance	Revenue from the Company’s major customers representing 10% or more of total revenue for the years ended December 31, 2023, 2022 and 2021, respectively, was as follows: Years Ended December 31, Customer 2023 2022 2021 Customer A 27 % * * Customer B 18 % 19 % 21 % Customer C * 17 % 13 % Customer D * 14 % 11 % _________________________________________ * Customer accounted for less than 10% of total revenue in the period.

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
Marketable Securities (Tables)	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Cash equivalents and marketable securities classified as available-for-sale	Total cash, cash equivalents and marketable securities are summarized as follows: As of December 31, 2023 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 88,486 $ 88,486 $ — $ — Cash equivalents: Money market funds 3,790 3,790 — — U.S. Government bonds and notes 2,491 2,491 — — Total cash equivalents 6,281 6,281 — — Total cash and cash equivalents 94,767 94,767 — — Marketable securities: U.S. Government bonds and notes 194,428 194,389 251 (212) Corporate bonds, commercial paper and notes 136,649 136,892 162 (405) Total marketable securities 331,077 331,281 413 (617) Total cash, cash equivalents and marketable securities $ 425,844 $ 426,048 $ 413 $ (617) As of December 31, 2022 (In thousands) Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Cash $ 94,737 $ 94,737 $ — $ — Cash equivalents: Money market funds 15,763 15,763 — — Corporate bonds, commercial paper and notes 14,834 14,838 — (4) Total cash equivalents 30,597 30,601 — (4) Total cash and cash equivalents 125,334 125,338 — (4) Marketable securities: U.S. Government bonds and notes 96,371 98,250 1 (1,880) Corporate bonds, commercial paper and notes 91,521 93,254 7 (1,740) Total marketable securities 187,892 191,504 8 (3,620) Total cash, cash equivalents and marketable securities $ 313,226 $ 316,842 $ 8 $ (3,624)
Available-for-sale securities reported at fair value	Available-for-sale securities are reported at fair value on the balance sheets and were classified along with cash as follows: As of December 31, (In thousands) 2023 2022 Cash $ 88,486 $ 94,737 Cash equivalents 6,281 30,597 Total cash and cash equivalents 94,767 125,334 Marketable securities 331,077 187,892 Total cash, cash equivalents and marketable securities $ 425,844 $ 313,226
Estimated fair value of cash equivalents and marketable securities classified by date of contractual maturity and the length of time that the securities have been in a continuous unrealized loss position	The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at December 31, 2023 and 2022 are as follows: Fair Value Gross Unrealized Losses (In thousands) December 31, December 31, December 31, December 31, Less than 12 months U.S. Government bonds and notes $ 32,454 $ 28,893 $ (53) $ (23) Corporate bonds, commercial paper and notes 46,407 45,538 (40) (35) Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months 78,861 74,431 (93) (58) 12 months or greater U.S. Government bonds and notes 6,841 62,588 (159) (1,857) Corporate bonds, commercial paper and notes 16,619 49,559 (365) (1,709) Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater 23,460 112,147 (524) (3,566) Total cash equivalents and marketable securities in a continuous unrealized loss position $ 102,321 $ 186,578 $ (617) $ (3,624)
Contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities	The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows: (In thousands) December 31, Due less than one year $ 251,857 Due from one year through three years 81,711 Total $ 333,568

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
Fair Value of Financial Instruments (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Summary of the valuation of cash equivalents and marketable securities by pricing levels	The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels detailed in Note 2, “Summary of Significant Accounting Policies,” as of December 31, 2023 and 2022: As of December 31, 2023 (In thousands) Total Quoted Market Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Assets carried at fair value Money market funds $ 3,790 $ 3,790 $ — $ — U.S. Government bonds and notes 196,919 — 196,919 — Corporate bonds, commercial paper and notes 136,649 — 136,649 — Total assets carried at fair value $ 337,358 $ 3,790 $ 333,568 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 12,500 $ — $ — $ 12,500 Total liabilities carried at fair value $ 12,500 $ — $ — $ 12,500 As of December 31, 2022 (In thousands) Total Quoted Market Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Assets carried at fair value Money market funds $ 15,763 $ 15,763 $ — $ — U.S. Government bonds and notes 96,371 — 96,371 — Corporate bonds, commercial paper and notes 106,355 — 106,355 — Total assets carried at fair value $ 218,489 $ 15,763 $ 202,726 $ — Liabilities carried at fair value Earn-out consideration related to PLDA acquisition $ 14,800 $ — $ — $ 14,800 Total liabilities carried at fair value $ 14,800 $ — $ — $ 14,800
Fair value, liabilities measured on recurring basis, unobservable input reconciliation	The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of December 31, 2023 and 2022: Years Ended December 31, (In thousands) 2023 2022 2021 Balance as of beginning of period $ 14,800 $ 16,900 $ — Addition of earn-out liability due to acquisition — — 11,600 Change in fair value of earn-out liability due to remeasurement 9,234 3,111 5,300 Change in fair value of earn-out liability due to achievement of revenue target (11,534) (5,211) — Balance as of end of period $ 12,500 $ 14,800 $ 16,900
Financial instruments not carried at fair value but requiring fair value disclosure	The following table presents the financial instruments that are not carried at fair value but require fair value disclosure as of 2022: As of December 31, 2022 (In thousands) Face Value Carrying Value Fair Value 1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) $ 10,381 $ 10,378 $ 19,625

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2023
Leases [Abstract]
Lessee, operating lease liabilities, maturities and undiscounted cash flows	The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2023 (in thousands): Years ending December 31, Amount 2024 $ 5,908 2025 5,897 2026 6,137 2027 4,838 2028 4,548 Thereafter 8,453 Total minimum lease payments 35,781 Less: amount of lease payments representing interest (5,073) Present value of future minimum lease payments 30,708 Less: current obligations under leases (4,453) Long-term lease obligations $ 26,255

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	12 Months Ended
Balance Sheet Details (Tables)	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Inventory	Inventories consisted of the following: As of December 31, (In thousands) 2023 2022 Raw materials $ 17,483 $ 4,683 Work in process 5,299 8,341 Finished goods 13,372 7,876 Total $ 36,154 $ 20,900 (1) As of December 31, 2023 and 2022, the Company had inventory reserve balances of approximately $6.0 million and $1.3 million included in the Consolidated Balance Sheets, respectively.
Components of property, plant and equipment, net	Property, plant and equipment, net is comprised of the following: As of December 31, (In thousands) 2023 2022 Computer software $ 44,226 $ 59,500 Computer equipment 36,198 36,865 Leasehold improvements 27,810 32,384 Machinery 30,446 19,587 Furniture and fixtures 12,561 12,664 Construction in progress 5,660 6,949 Property, plant and equipment, gross 156,901 167,949 Less accumulated depreciation and amortization (89,093) (81,694) Property, plant and equipment, net $ 67,808 $ 86,255
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive loss is comprised of the following: As of December 31, (In thousands) 2023 2022 Foreign currency translation adjustments $ (913) $ (1,195) Unrealized loss on available-for-sale securities, net of tax (356) (3,768) Total $ (1,269) $ (4,963)
Other Current Liabilities	Other current liabilities are comprised of the following: As of December 31, (In thousands) 2023 2022 EDA tools software licenses liability $ 14,566 $ 15,563 Price protection liability 6,563 — Other current liabilities 5,469 8,429 Total $ 26,598 $ 23,992

Convertible Notes (Tables)

Convertible Notes (Tables)	12 Months Ended
Convertible Notes (Tables)	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of convertible notes	The Company’s convertible notes are shown in the following table: As of December 31, (In thousands) 2022 2023 Notes (1) $ 10,381 Unamortized debt issuance costs — 2023 Notes (3) Total convertible notes 10,378 Less current portion 10,378 Total long-term convertible notes $ — (1) As of December 31, 2023, none of the 2023 Notes remained outstanding.
Schedule of interest expense on notes	Interest expense related to the convertible notes for the years ended December 31, 2022 and 2021 was as follows: Years Ended December 31, (In thousands) 2022 2021 2023 Notes coupon interest at a rate of 1.375% $ 610 $ 2,372 2023 Notes amortization of discount and debt issuance cost 194 7,656 Total interest expense on convertible notes $ 804 $ 10,028

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of material contractual obligations	As of December 31, 2023, the Company’s material contractual obligations were as follows: (In thousands) Total 2024 2025 2026 2027 2028 Contractual obligations (1) (2) Software licenses (3) $ 24,635 $ 16,552 $ 8,083 $ — $ — $ — Other contractual obligations 1,594 1,326 131 137 — — Acquisition retention bonuses (4) (5) 894 558 336 — — — Total $ 27,123 $ 18,436 $ 8,550 $ 137 $ — $ — ______________________________________ (1) The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $110.7 million, including $31.7 million recorded as a reduction of long-term deferred tax assets and $78.9 million in long-term income taxes payable, as of December 31, 2023. As noted below in Note 18, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the timing of the outcome at this time. (2) For the Company’s lease commitments as of December 31, 2023, refer to Note 10, “Leases.” (3) The Company has commitments with various software vendors for agreements generally having terms longer than one year. As of December 31, 2023, approximately $14.6 million of the fair value of the liability was included in other current liabilities and $8.0 million was included in other long-term liabilities, in the accompanying Consolidated Balance Sheet. (4) In connection with the acquisitions of Hardent in the second quarter of 2022 and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment. (5) In connection with the acquisition of AnalogX in the third quarter of 2021, the Company was obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment. In September 2023, the Company divested its PHY IP group, which included AnalogX and resulted in the Company recognizing an immaterial decrease related to the remaining AnalogX acquisition retention bonus liability. Refer to Note 20, “Divestiture,” for additional information.

Equity Incentive Plans and St_2

Equity Incentive Plans and Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of shares available for grant	A summary of shares available for grant under the Company’s plans is as follows: Shares Available for Grant Total shares available for grant as of December 31, 2020 12,412,320 Stock options forfeited 54,327 Nonvested equity stock and stock units granted (1) (2) (3,918,251) Nonvested equity stock and stock units forfeited (1) 1,943,782 Total shares available for grant as of December 31, 2021 10,492,178 Nonvested equity stock and stock units granted (1) (3) (4,107,633) Nonvested equity stock and stock units forfeited (1) 1,271,224 Total shares available for grant as of December 31, 2022 7,655,769 Increase in shares approved for issuance (4) 5,210,000 Nonvested equity stock and stock units granted (1) (5) (2,082,334) Nonvested equity stock and stock units forfeited (1) 1,170,715 Total shares available for grant as of December 31, 2023 11,954,150 ______________________________________ (1) For purposes of determining the number of shares available for grant under the 2015 Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 shares and each restricted stock unit forfeited increases shares available for grant by 1.0 shares. (2) Amount includes approximately 0.4 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2021 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. (3) Amount includes approximately 0.6 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2022 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. (4) On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Plan. (5) Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below.
Schedule of stock option activity	The following table summarizes stock option activity under the Company’s equity incentive plans for the years ended December 31, 2023, 2022 and 2021 and information regarding stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2023: Options Outstanding Weighted-Average Remaining Contractual Term (years) (In thousands, except per share amounts and years) Number of Shares Weighted-Average Exercise Price Per Share Aggregate Intrinsic Value Outstanding as of December 31, 2020 964,211 $ 11.08 Options exercised (360,303) $ 11.06 Options forfeited (54,327) $ 14.98 Outstanding as of December 31, 2021 549,581 $ 10.71 Options exercised (117,138) $ 7.43 Outstanding as of December 31, 2022 432,443 $ 11.60 Options exercised (307,711) $ 11.61 $ 17,430 Outstanding as of December 31, 2023 124,732 $ 11.60 3.35 $ 7,066 Vested or expected to vest at December 31, 2023 124,732 $ 11.60 3.35 $ 7,066 Options exercisable at December 31, 2023 124,732 $ 11.60 3.35 $ 7,066
Weighted-average assumptions for employee stock purchase plan	Employee Stock Purchase Plan for Years Ended December 31, 2023 2022 2021 Employee Stock Purchase Plan Expected stock price volatility 48%-53% 40%-44% 32%-33% Risk free interest rate 5.14%-5.51% 1.49%-4.58% 0.04%-0.05% Expected term (in years) 0.5 0.5 0.5 Weighted-average fair value of purchase rights granted under the purchase plan $14.86 $8.02 $5.17
Schedule of nonvested equity stock and stock units activity	The following table reflects the activity related to nonvested equity stock and stock units for the years ended December 31, 2023, 2022 and 2021: Nonvested Equity Stock and Stock Units Shares Weighted-Average Nonvested at December 31, 2020 4,851,265 $ 12.82 Granted 2,363,885 $ 21.18 Vested (1,524,950) $ 12.41 Forfeited (971,815) $ 15.30 Nonvested at December 31, 2021 4,718,385 $ 16.62 Granted 2,338,255 $ 28.10 Vested (1,853,260) $ 14.42 Forfeited (485,320) $ 20.48 Nonvested at December 31, 2022 4,718,060 $ 22.78 Granted 1,268,973 $ 46.93 Vested (1,797,002) $ 18.07 Forfeited (759,839) $ 28.60 Nonvested at December 31, 2023 3,430,192 $ 32.90

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of income (loss) before income tax	Income (loss) before taxes consisted of the following: Years Ended December 31, (In thousands) 2023 2022 2021 Domestic $ 154,434 $ (16,663) $ 19,244 Foreign 32,726 8,838 4,042 $ 187,160 $ (7,825) $ 23,286
Components of provision for (benefit from) income taxes	The provision for (benefit from) income taxes was comprised of: Years Ended December 31, (In thousands) 2023 2022 2021 Federal: Current $ 1,075 $ 183 $ (112) Deferred (126,734) 2,479 2,042 State: Current 893 (215) 214 Deferred (17,264) 24 324 Foreign: Current (3,362) 5,828 3,328 Deferred (1,352) (1,814) (844) $ (146,744) $ 6,485 $ 4,952
Schedule of effective income tax rate reconciliation	The differences between the Company’s effective tax rate and the U.S. federal statutory regular tax rate were as follows: Years Ended December 31, 2023 2022 2021 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State income tax expense (benefit) (8.7) 6.1 2.2 Withholding tax 3.9 (36.6) 4.4 Foreign rate differential (2.6) (28.3) 3.3 Research and development credit (2.9) 4.8 (7.1) Executive compensation 3.9 (49.0) 6.6 Stock-based compensation (5.2) 47.9 (7.7) Foreign tax credit (2.5) 57.4 (84.0) Foreign-derived intangible income deduction (1.9) 70.5 (55.8) Acquisition 1.6 (25.1) 8.8 Debt extinguishment — (226.7) — Other 0.3 (1.0) (0.2) Valuation allowance (85.3) 76.1 129.8 (78.4) % (82.9) % 21.3 %
Components of the net deferred tax assets (liabilities)	The components of the net deferred tax assets (liabilities) were as follows: As of December 31, (In thousands) 2023 2022 Deferred tax assets: Depreciation and amortization $ — $ 3,247 Lease liabilities 6,607 7,691 Other timing differences, accruals and reserves 5,306 10,393 Deferred equity compensation 3,973 4,366 Net operating loss carryovers 14,578 13,423 Capitalized research 77,244 49,649 Tax credits 50,445 96,758 Total gross deferred tax assets 158,153 185,527 Deferred tax liabilities: Lease right-of-use assets (4,589) (5,501) Deferred revenue — (76) Depreciation and amortization (5,078) — Total gross deferred tax liabilities (9,667) (5,577) Total net deferred tax assets 148,486 179,950 Valuation allowance (25,056) (201,883) Net deferred tax assets (liabilities) $ 123,430 $ (21,933) As of December 31, (In thousands) 2023 2022 Reported as: Non-current deferred tax assets $ 127,892 $ 3,031 Non-current deferred tax liabilities (4,462) (24,964) Net deferred tax assets (liabilities) $ 123,430 $ (21,933)
Summary of valuation allowance	The following table presents the tax valuation allowance information for the years ended December 31, 2023, 2022 and 2021: (In thousands) Balance at Beginning of Period Charged (Credited) to Operations Charged to Other Account* Valuation Allowance Release Balance at End of Period Tax Valuation Allowance Year ended December 31, 2021 $ 174,119 32,544 211 — $ 206,874 Year ended December 31, 2022 $ 206,874 (7,233) 2,242 — $ 201,883 Year ended December 31, 2023 $ 201,883 1,776 (717) (177,886) $ 25,056 ______________________________________ * Amounts not charged to operations are charged to other comprehensive income or retained earnings.
Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits	A reconciliation of the beginning and ending amounts of unrecognized income tax benefits for the years ended December 31, 2023, 2022 and 2021 was as follows: Years Ended December 31, (In thousands) 2023 2022 2021 Balance as of January 1 $ 164,531 $ 146,215 $ 134,044 Tax positions related to current year: Additions 19,403 18,515 18,748 Tax positions related to prior years: Additions 1,378 — 615 Reductions (391) (199) (1,586) Settlements — — (5,606) Balance as of December 31 $ 184,921 $ 164,531 $ 146,215

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Dec. 31, 2023
Hardent, Inc.
Business acquisition
Schedule of recognized identified assets acquired and liabilities assumed	The total consideration from the acquisition was allocated as of the Closing Date and reflects adjustments made during the measurement period to finalize the purchase price accounting, as follows: (In thousands) Total Cash and cash equivalents $ 209 Accounts receivable 1,088 Unbilled receivables 239 Prepaid expenses and other current assets 16 Identified intangible assets 5,000 Goodwill 12,069 Accounts payable (55) Deferred revenue (578) Income taxes payable (466) Deferred tax liability (1,325) Other current liabilities (56) Total $ 16,141
Schedule of finite-lived intangible assets acquired as part of business combination	The identified intangible assets assumed in the acquisition of Hardent were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 4,800 5 years Customer contracts and contractual relationships 200 2 years Total $ 5,000
Business acquisition, pro forma information	Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition: Years Ended December 31, (In thousands) 2022 2021 (unaudited) Total revenue $ 457,852 $ 336,258 Net income (loss) $ (13,251) $ 19,452
AnalogX, Inc.
Business acquisition
Schedule of recognized identified assets acquired and liabilities assumed	The total consideration from the business combination was allocated as of the Closing Date and reflects adjustments made through the measurement period to finalize the purchase price accounting, as follows: (In thousands) Total Cash and cash equivalents $ 2,763 Accounts receivable 280 Unbilled receivables 1,566 Prepaid expenses and other current assets 1,354 Identified intangible assets 6,800 IPR&D 3,800 Goodwill 39,309 Property, plant and equipment, net 118 Accounts payable (1,112) Deferred revenue (23) Income taxes payable (7,127) Other current liabilities (215) Total $ 47,513
Schedule of finite-lived and indefinite-lived intangible assets acquired as part of business combination	The identified intangible assets assumed in the acquisition of AnalogX were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 6,300 5 years Customer contracts and contractual relationships 500 2 years IPR&D 3,800 Not applicable Total $ 10,600
PLDA Group
Business acquisition
Schedule of recognized identified assets acquired and liabilities assumed	The total consideration from the business combination was allocated as of the Closing Date as follows: (In thousands) Total Cash and cash equivalents $ 5,820 Accounts receivable 2,233 Inventories 125 Prepaid expenses and other current assets 836 Identified intangible assets 21,400 IPR&D 7,400 Goodwill 57,543 Property, plant and equipment, net 679 Operating lease right-of-use asset 864 Other assets 339 Accounts payable (1,046) Accrued salaries and benefits (814) Deferred revenue (514) Income taxes payable (118) Operating lease liability (852) Deferred tax liability (8,180) Other current liabilities (74) Total $ 85,641
Schedule of finite-lived and indefinite-lived intangible assets acquired as part of business combination	The identified intangible assets assumed in the acquisition of PLDA were recognized as follows based upon their estimated fair values as of the acquisition date: Total Estimated Weighted-Average Useful Life (in thousands) (in years) Existing technology $ 20,400 3 to 5 years Customer contracts and contractual relationships 1,000 2 years IPR&D 7,400 Not applicable Total $ 28,800
AnalogX, Inc and PLDA Group
Business acquisition
Business acquisition, pro forma information	Additionally, the pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisitions: (In thousands) For the Year Ended December 31, 2021 (unaudited) Total revenue $ 338,961 Net income $ 16,533

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 461,117	$ 454,793	$ 328,304
Minimum
License agreement, term of agreement	1 year
Long-duration contracts, assumptions by product and guarantee, discount rate	5%
Maximum
License agreement, term of agreement	10 years
Long-duration contracts, assumptions by product and guarantee, discount rate	10%
Percentage of completion
Revenue	$ 6,100

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details 2)	Dec. 31, 2023
Minimum
Lessee, Lease, Description
Lessee, operating lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description
Lessee, operating lease, remaining lease term	7 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 3)	Dec. 31, 2023
Minimum
Components of intangible assets
Useful life (in years)	6 months
Maximum
Components of intangible assets
Useful life (in years)	10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 4)	Dec. 31, 2023
Computer software
Property, plant and equipment
Property, plant and equipment, estimated useful life (in years)	3 years
Computer equipment
Property, plant and equipment
Property, plant and equipment, estimated useful life (in years)	3 years
Machinery
Property, plant and equipment
Property, plant and equipment, estimated useful life (in years)	7 years
Furniture and fixtures
Property, plant and equipment
Property, plant and equipment, estimated useful life (in years)	3 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 5)	12 Months Ended
Summary of Significant Accounting Policies (Details 5)	Dec. 31, 2023
Contingently issuable ESPP shares
Stock-Based Compensation and Equity Incentive Plans
Discount from the fair market value (as a percentage)	15%

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details 6)	12 Months Ended
Summary of Significant Accounting Policies (Details 6)	Dec. 31, 2023
Cash equivalents and marketable securities
Maximum maturity period of available-for-sale securities (in years)	3 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details 7)	12 Months Ended
Summary of Significant Accounting Policies (Details 7)	Dec. 31, 2023
Accounting Policies [Abstract]
Debt Instrument, Term	1 month

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Nov. 17, 2017
New accounting pronouncements or change in accounting principle
Liabilities	$ (220,126)	$ (233,297)
Accumulated deficit	$ (285,534)	$ (513,256)
Convertible senior notes \| 1.375% Convertible senior notes due 2023
New accounting pronouncements or change in accounting principle
Convertible notes, stated interest rate (as a percentage)	1.375%	1.375%		1.375%	1.375%
Cumulative effect, period of adoption, adjustment \| Convertible senior notes \| Debt discount \| Accounting Standards Update 2020-06
New accounting pronouncements or change in accounting principle
Additional paid in capital			$ 35,200
Liabilities			8,300
Accumulated deficit			26,900
Cumulative effect, period of adoption, adjustment \| Convertible senior notes \| Debt issuance costs \| Accounting Standards Update 2020-06
New accounting pronouncements or change in accounting principle
Additional paid in capital			700
Accumulated deficit			$ 500

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 55,295	$ 150,920
Deferred revenue	$ 18,085	$ 25,421

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Millions	12 Months Ended
Revenue Recognition (Details 2) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract balances, revenue recognized	$ 20.8	$ 23.6

Revenue Recognition (Details 3)

Revenue Recognition (Details 3) $ in Millions	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 19.3
Remaining performance obligation, expected timing of satisfaction, start date: 2024-01-01
Remaining performance obligation, expected timing of satisfaction
Remaining performance obligations, expected timing of satisfaction period	2 years

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income (loss)	$ 333,904	$ (14,310)	$ 18,334
Denominator:
Weighted-average common shares outstanding, basic (in shares)	108,183	109,472	110,538
Effect of potential dilutive common shares	2,706	0	4,327
Denominator:
Weighted-average common shares outstanding, diluted (in shares)	110,889	109,472	114,865
Basic net income (loss) per share	$ 3.09	$ (0.13)	$ 0.17
Diluted net income (loss) per share	$ 3.01	$ (0.13)	$ 0.16

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details 2) shares in Thousands	12 Months Ended
Earnings (Loss) Per Share (Details 2) shares in Thousands	Dec. 31, 2022 shares
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	2,818
Stock options
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	282
Restricted stock units
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	2,361
Potentially issuable shares related to the in-the-money conversion benefit feature of convertible notes
Anti-dilutive shares excluded from calculation of earnings per share
Anti-dilutive shares excluded from calculation of earnings per share	175

Earnings (Loss) Per Share (Narr

Earnings (Loss) Per Share (Narrative) (Details) - 1.375% Convertible senior notes due 2023 - Convertible senior notes - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Anti-dilutive shares excluded from calculation of earnings per share
Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares)	0.3
Carrying value	$ 10,400	$ 10,378

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Goodwill Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 292,040	$ 278,810
Addition to goodwill		12,069
Adjustments to goodwill		1,013
Divestiture of goodwill	(5,228)
Effect of exchange rates		148
Ending balance	$ 286,812	$ 292,040

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2023
Components of intangible assets
Intangible assets, gross	$ 331,908	$ 349,421
Accumulated amortization	(303,139)	(298,541)
Finite-lived intangible assets	21,369
In-process research and development	7,400
Intangible assets, net	28,769	50,880
Acquisition of intangible assets	$ 0	3,000	$ 0
Divestiture, not discontinued operations \| PHY IP Group
Components of intangible assets
Disposal of intangible assets, noncurrent				$ 7,400
Minimum
Components of intangible assets
Useful life (in years)	6 months
Maximum
Components of intangible assets
Useful life (in years)	10 years
In-process research and development
Components of intangible assets
In-process research and development	$ 7,400	11,200
In-process research and development \| Divestiture, not discontinued operations \| PHY IP Group
Components of intangible assets
Disposal of intangible assets, noncurrent				$ 3,800
Existing technology
Components of intangible assets
Gross carrying amount	286,712	299,925
Accumulated amortization	(265,756)	(261,708)
Finite-lived intangible assets	$ 20,956	38,217
Acquisition of intangible assets		$ 3,000
Identified intangible assets assumed, useful life (in years)		5 years
Existing technology \| Minimum
Components of intangible assets
Useful life (in years)	3 years	3 years
Existing technology \| Maximum
Components of intangible assets
Useful life (in years)	10 years	10 years
Customer contracts and contractual relationships
Components of intangible assets
Gross carrying amount	$ 37,496	$ 37,996
Accumulated amortization	(37,083)	(36,533)
Finite-lived intangible assets	$ 413	$ 1,463
Customer contracts and contractual relationships \| Minimum
Components of intangible assets
Useful life (in years)	6 months	6 months
Customer contracts and contractual relationships \| Maximum
Components of intangible assets
Useful life (in years)	10 years	10 years
Non-compete agreements and trademarks
Components of intangible assets
Gross carrying amount	$ 300	$ 300
Accumulated amortization	(300)	(300)
Finite-lived intangible assets	$ 0	$ 0
Useful life (in years)	3 years	3 years

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 14,741	$ 15,610	$ 17,467

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Estimated future amortization expense of intangible assets
2024	$ 11,742
2025	5,427
2026	3,739
2027	461
2028	0
Thereafter	0
Finite-lived intangible assets	21,369
In-process research and development	7,400
Intangible assets, net	$ 28,769	$ 50,880

Segment Information (Details)

Segment Information (Details) - Customer concentration risk - Accounts receivable	Dec. 31, 2023	Dec. 31, 2022
Customer 1
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable	49%
Customer 2
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable	13%	14%
Customer 3
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable	12%
Customer 4
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable		23%
Customer 5
Concentration risk
Accounts receivable from major customer as a percentage of total accounts receivable		16%

Segment Information (Details 2)

Segment Information (Details 2) - Customer concentration risk - Revenue	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Customer A
Concentration risk
Revenue from major customer as a percentage of total revenue	27%
Customer B
Concentration risk
Revenue from major customer as a percentage of total revenue	18%	19%	21%
Customer C
Concentration risk
Revenue from major customer as a percentage of total revenue		17%	13%
Customer D
Concentration risk
Revenue from major customer as a percentage of total revenue		14%	11%

Segment Information (Details 3)

Segment Information (Details 3) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major customer disclosure
Revenue	$ 461,117	$ 454,793	$ 328,304
Property, plant and equipment, net	67,808	86,255
United States
Major customer disclosure
Revenue	176,821	277,776	211,419
Property, plant and equipment, net	64,100	80,500
South Korea
Major customer disclosure
Revenue	152,328	7,222	6,007
Singapore
Major customer disclosure
Revenue	53,327	57,309	39,798
Other countries
Major customer disclosure
Revenue	78,641	112,486	$ 71,080
India
Major customer disclosure
Property, plant and equipment, net	3,000	3,400
Other foreign locations
Major customer disclosure
Property, plant and equipment, net	$ 700	$ 2,400

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents
Gross unrealized gains	$ 0	$ 0
Gross unrealized losses	0	(4)
Total cash and cash equivalents, fair value	94,767	125,334	$ 107,891
Cash and cash equivalents	94,767	125,338
Marketable securities
Fair value	331,077	187,892
Amortized cost	331,281	191,504
Gross unrealized gains	413	8
Gross unrealized losses	(617)	(3,620)
Cash, cash equivalents and marketable securities
Fair value	425,844	313,226
Amortized cost	426,048	316,842
Gross unrealized gains	413	8
Gross unrealized losses	(617)	(3,624)
U.S. Government bonds and notes
Marketable securities
Fair value	194,428	96,371
Amortized cost	194,389	98,250
Gross unrealized gains	251	1
Gross unrealized losses	(212)	(1,880)
Corporate bonds, commercial paper and notes
Marketable securities
Fair value	136,649	91,521
Amortized cost	136,892	93,254
Gross unrealized gains	162	7
Gross unrealized losses	(405)	(1,740)
Cash
Cash and cash equivalents
Fair value	88,486	94,737
Amortized cost	88,486	94,737
Money market funds
Cash and cash equivalents
Fair value	3,790	15,763
Amortized cost	3,790	15,763
Gross unrealized gains	0	0
Gross unrealized losses	0	0
U.S. Government bonds and notes
Cash and cash equivalents
Fair value	2,491
Amortized cost	2,491
Gross unrealized gains	0
Gross unrealized losses	0
Corporate bonds, commercial paper and notes
Cash and cash equivalents
Fair value		14,834
Amortized cost		14,838
Gross unrealized gains		0
Gross unrealized losses		(4)
Cash equivalents
Cash and cash equivalents
Fair value	6,281	30,597
Amortized cost	6,281	30,601
Gross unrealized gains	0	0
Gross unrealized losses	$ 0	$ (4)

Marketable Securities (Details

Marketable Securities (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt securities, available-for-sale
Cash and cash equivalents	$ 94,767	$ 125,334	$ 107,891
Marketable securities	331,077	187,892
Total cash, cash equivalents and marketable securities	425,844	313,226
Marketable securities
Debt securities, available-for-sale
Marketable securities	331,077	187,892
Cash
Debt securities, available-for-sale
Cash	88,486	94,737
Cash equivalents
Debt securities, available-for-sale
Cash Equivalents	$ 6,281	$ 30,597

Marketable Securities (Detail_2

Marketable Securities (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt securities, available-for-sale
Less than 12 Months, fair value	$ 78,861	$ 74,431
Less than 12 months, gross unrealized loss	(93)	(58)
12 months or greater, fair value	23,460	112,147
12 months or greater, gross unrealized losses	(524)	(3,566)
Fair value	102,321	186,578
Gross unrealized losses	(617)	(3,624)
U.S. Government bonds and notes
Debt securities, available-for-sale
Less than 12 Months, fair value	32,454	28,893
Less than 12 months, gross unrealized loss	(53)	(23)
12 months or greater, fair value	6,841	62,588
12 months or greater, gross unrealized losses	(159)	(1,857)
Corporate bonds, commercial paper and notes
Debt securities, available-for-sale
Less than 12 Months, fair value	46,407	45,538
Less than 12 months, gross unrealized loss	(40)	(35)
12 months or greater, fair value	16,619	49,559
12 months or greater, gross unrealized losses	$ (365)	$ (1,709)

Marketable Securities (Detail_3

Marketable Securities (Details 4) $ in Thousands	Dec. 31, 2023 USD ($)
Contractual maturities
Contractual maturities, fair value, due less than one year	$ 251,857
Contractual maturities, fair value, due from one year through three years	81,711
Contractual maturities, fair value	$ 333,568

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets carried at fair value
Fair value	$ 331,077	$ 187,892
U.S. Government bonds and notes
Assets carried at fair value
Fair value	194,428	96,371
Corporate bonds, commercial paper and notes
Assets carried at fair value
Fair value	136,649	91,521
Recurring basis
Assets carried at fair value
Total assets carried at fair value	337,358	218,489
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	12,500	14,800
Total liabilities carried at fair value	12,500	14,800
Recurring basis \| Money market funds
Assets carried at fair value
Fair value	3,790	15,763
Recurring basis \| U.S. Government bonds and notes
Assets carried at fair value
Fair value	196,919	96,371
Recurring basis \| Corporate bonds, commercial paper and notes
Assets carried at fair value
Fair value	136,649	106,355
Recurring basis \| Quoted market prices in active markets (Level 1)
Assets carried at fair value
Total assets carried at fair value	3,790	15,763
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	0	0
Total liabilities carried at fair value	0	0
Recurring basis \| Quoted market prices in active markets (Level 1) \| Money market funds
Assets carried at fair value
Fair value	3,790	15,763
Recurring basis \| Quoted market prices in active markets (Level 1) \| U.S. Government bonds and notes
Assets carried at fair value
Fair value	0	0
Recurring basis \| Quoted market prices in active markets (Level 1) \| Corporate bonds, commercial paper and notes
Assets carried at fair value
Fair value	0	0
Recurring basis \| Significant other observable inputs (Level 2)
Assets carried at fair value
Total assets carried at fair value	333,568	202,726
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	0	0
Total liabilities carried at fair value	0	0
Recurring basis \| Significant other observable inputs (Level 2) \| Money market funds
Assets carried at fair value
Fair value	0	0
Recurring basis \| Significant other observable inputs (Level 2) \| U.S. Government bonds and notes
Assets carried at fair value
Fair value	196,919	96,371
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate bonds, commercial paper and notes
Assets carried at fair value
Fair value	136,649	106,355
Recurring basis \| Significant unobservable inputs (Level 3)
Assets carried at fair value
Total assets carried at fair value	0	0
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	12,500	14,800
Total liabilities carried at fair value	12,500	14,800
Recurring basis \| Significant unobservable inputs (Level 3) \| Money market funds
Assets carried at fair value
Fair value	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| U.S. Government bonds and notes
Assets carried at fair value
Fair value	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate bonds, commercial paper and notes
Assets carried at fair value
Fair value	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Details 2) - Earn-out liability - Significant unobservable inputs (Level 3) - Recurring basis - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair value, liabilities measured on recurring basis, unobservable input reconciliation, roll forward
Balance as of beginning of period	$ 14,800	$ 16,900	$ 0
Addition of earn-out liability due to acquisition	0	0	11,600
Change in fair value of earn-out liability due to remeasurement	9,234	3,111	5,300
Change in fair value of earn-out liability due to achievement of revenue target	(11,534)	(5,211)	0
Balance as of end of period	$ 12,500	$ 14,800	$ 16,900

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Details 3) - Convertible senior notes - 1.375% Convertible senior notes due 2023 - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Nov. 17, 2017
Debt instrument
Face value		$ 10,381	$ 172,500
Carrying value	$ 10,400	10,378
Fair value		$ 19,625

Fair Value of Financial Instr_6

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2024	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2023	Mar. 31, 2023
Equity security without readily determinable fair value
Gain on sale of non-marketable equity security, gross			$ 23,924
Gain on sale of non-marketable equity security, net			$ 23,924	$ 0	$ 0
Gain on sale of equity security				3,500
1.375% Convertible senior notes due 2023 \| Convertible senior notes
Equity security without readily determinable fair value
Carrying value				$ 10,378			$ 10,400
Private company
Equity security without readily determinable fair value
Non-marketable equity security, ownership percentage		25%	25%	25%		25%
Non-marketable equity security						$ 0
Proceeds from sale of non-marketable equity security		$ 25,000
Gain on sale of non-marketable equity security, gross		23,900
Transaction costs		1,100
Realized gain on sale of equity method investment, gross		$ 25,000
Private company \| Subsequent event
Equity security without readily determinable fair value
Proceeds from sale of non-marketable equity security	$ 23,000
Recurring basis \| Earn-out liability \| Significant unobservable inputs (Level 3)
Equity security without readily determinable fair value
Fair value remeasurement recognized as an additional expense			$ 9,234	$ 3,111	$ 5,300

Leases (Operating Lease Maturit

Leases (Operating Lease Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 5,908
2025	5,897
2026	6,137
2027	4,838
2028	4,548
Thereafter	8,453
Total minimum lease payments	35,781
Less: amount of lease payments representing interest	(5,073)
Present value of future minimum lease payments	30,708
Operating lease liabilities	(4,453)	$ (5,024)
Long-term operating lease liabilities	$ 26,255	$ 29,079

Leases (Additional Details) (De

Leases (Additional Details) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease, weighted-average remaining lease term	6 years 2 months 12 days
Operating lease, weighted-average discount rate, percent	6.30%
Operating lease, cost	$ 6	$ 7.5	$ 7.4
Operating lease, payments	$ 6.7	$ 8.6	$ 7.8

Balance Sheet Details (Details)

Balance Sheet Details (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory
Raw materials	$ 17,483	$ 4,683
Work in process	5,299	8,341
Finished goods	13,372	7,876
Inventories	36,154	20,900
Inventory reserves	$ 6,000	$ 1,300

Balance Sheet Details (Details

Balance Sheet Details (Details 2) - USD ($) $ in Thousands	12 Months Ended
Balance Sheet Details (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment, net
Property, plant and equipment, gross	$ 156,901	$ 167,949
Less accumulated depreciation and amortization	(89,093)	(81,694)
Property, plant and equipment, net	67,808	86,255
Depreciation expense	37,700	26,000	$ 21,000
Computer software
Property, plant and equipment, net
Property, plant and equipment, gross	44,226	59,500
Computer equipment
Property, plant and equipment, net
Property, plant and equipment, gross	36,198	36,865
Leasehold improvements
Property, plant and equipment, net
Property, plant and equipment, gross	27,810	32,384
Machinery
Property, plant and equipment, net
Property, plant and equipment, gross	30,446	19,587
Furniture and fixtures
Property, plant and equipment, net
Property, plant and equipment, gross	12,561	12,664
Construction in progress
Property, plant and equipment, net
Property, plant and equipment, gross	$ 5,660	$ 6,949

Balance Sheet Details (Detail_2

Balance Sheet Details (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accumulated other comprehensive income (Loss)
Foreign currency translation adjustments	$ (913)	$ (1,195)
Unrealized gain (loss) on available-for-sale securities, net of tax	(356)	(3,768)
Total	$ (1,269)	$ (4,963)

Balance Sheet Details (Detail_3

Balance Sheet Details (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
EDA tools software licenses liability	$ 14,566	$ 15,563
Price protection liability	6,563	0
Other current liabilities	5,469	8,429
Other current liabilities	$ 26,598	$ 23,992

Convertible Notes (Schedule of

Convertible Notes (Schedule of Notes) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Nov. 17, 2017
Debt instrument
Less current portion	$ 0		$ 10,378
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Debt instrument
Face value			10,381	$ 172,500
Unamortized debt issuance costs			(3)
Total convertible notes		$ 10,400	10,378
Less current portion			10,378
Total long-term convertible notes			$ 0

Convertible Notes (Interest Exp

Convertible Notes (Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 17, 2017
Interest expense related to notes
Amortization of discount and debt issuance costs	$ 3	$ 207	$ 7,656
Convertible senior notes \| 1.375% Convertible senior notes due 2023
Interest expense related to notes
Convertible notes, stated interest rate (as a percentage)	1.375%	1.375%	1.375%	1.375%
Coupon interest expense		$ 610	$ 2,372
Amortization of discount and debt issuance costs		194	7,656
Total interest expense on convertible notes		$ 804	$ 10,028

Convertible Notes (Narrative) (

Convertible Notes (Narrative) (Details) $ / shares in Units, shares in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Aug. 25, 2022 $ / shares

Aug. 11, 2022 USD ($)

Apr. 01, 2022 USD ($)

Mar. 31, 2022 USD ($)

Mar. 02, 2022 USD ($)

Nov. 17, 2017 USD ($) D $ / shares

Mar. 29, 2022 $ / shares

Mar. 31, 2023 USD ($) shares

Sep. 30, 2022 USD ($)

Mar. 31, 2022 USD ($)

Dec. 31, 2023 USD ($) shares

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Jan. 01, 2022 USD ($)

Debt instrument

Liabilities

$ (220,126,000)

$ (233,297,000)

Accumulated deficit

(285,534,000)

(513,256,000)

Loss on extinguishment of debt

83,626,000

$ 0

Loss on fair value adjustment of derivatives, net

$ 240,000

10,585,000

$ 0

Common stock

Debt instrument

Issuance of common stock in connection with the maturity of the convertible senior notes related to the settlement of the in-the-money conversion feature of the convertible senior notes (in shares) | shares

284

Convertible senior notes | Debt discount | Cumulative effect, period of adoption, adjustment | Accounting Standards Update 2020-06

Debt instrument

Additional paid in capital

$ 35,200,000

Liabilities

8,300,000

Accumulated deficit

26,900,000

Convertible senior notes | Debt issuance costs | Cumulative effect, period of adoption, adjustment | Accounting Standards Update 2020-06

Debt instrument

Additional paid in capital

700,000

Accumulated deficit

$ 500,000

1.375% Convertible senior notes due 2023 | Convertible senior notes

Debt instrument

Face value

$ 172,500,000

$ 10,381,000

Liability component, principal amount

137,300,000

Equity component, principal amount

$ 35,200,000

Debt discount amortization period

5 years

Convertible notes, stated interest rate (as a percentage)

1.375%

Debt issuance costs, gross

$ 3,300,000

Debt issuance cost, convertible, liability component

2,600,000

Debt issuance cost, convertible, equity component

$ 700,000

Conversion rate, number of shares to be issued per $1000 of principal (in shares)

52.8318

Principal amount of notes used as the denominator to determine number of shares converted into notes

$ 1,000

Initial conversion price of notes (in dollars per share) | $ / shares

$ 18.93

Debt instrument, convertible, threshold trading days

Debt instrument, convertible, threshold consecutive trading days | D

Debt instrument, convertible, threshold percentage of stock price trigger

130%

Number of consecutive trading days before the five business days during the debt instrument measurement period

5 days

Denomination of the principal amount of notes used to calculate the percent of trading price during the debt instrument measurement period

$ 1,000

Maximum conversion price as a percentage of closing stock price

98%

Percentage of face amount of debt instrument redeemable at the company's option

100%

Carrying value

$ 10,400,000

$ 10,378,000

300

Events of default

Period of default in payment of interest (in days)

30 days

Period of default to comply with other agreements (in days)

60 days

Minimum percentage of aggregate outstanding principal required for default event with other agreements

25%

Minimum principal amount of debt nonpayment required for debt default to occur

$ 40,000,000

Period of nonpayment of principal amount required for debt default to occur (in days)

30 days

Minimum percentage of aggregate outstanding principal required for nonpayment of debt default to occur

25%

Minimum percentage of aggregate outstanding principal required for immediate payment declaration to occur

25%

Debt instrument, default percent of principal and accrued and unpaid interest

100%

1.375% Convertible senior notes due 2023 | Convertible senior notes | 2023 Notes Partial Repurchase, first quarter 2022

Debt instrument

Repayments of convertible debt

$ 174,500,000

$ 199,100,000

Repurchased convertible debt, face amount

$ 107,900,000

$ 123,100,000

$ 107,900,000

Debt, volume-weighted average price | $ / shares

$ 29.6789

Loss on extinguishment of debt

66,500,000

Loss on fair value adjustment of derivatives, net

$ 8,300,000

1.375% Convertible senior notes due 2023 | Convertible senior notes | 2023 Notes Partial Repurchase, first quarter 2022 | Remainder of 2023 Notes Partial Repurchase

Debt instrument

Repayments of convertible debt

$ 24,600,000

Repurchased convertible debt, face amount

$ 15,200,000

1.375% Convertible senior notes due 2023 | Convertible senior notes | 2023 Notes Partial Repurchase, third quarter 2022

Debt instrument

Repayments of convertible debt

$ 58,900,000

Repurchased convertible debt, face amount

$ 39,000,000

Debt, volume-weighted average price | $ / shares

$ 27.8456

Loss on extinguishment of debt

$ 17,100,000

Loss on fair value adjustment of derivatives, net

$ 2,300,000

Convertible Notes (Narrative)_2

Convertible Notes (Narrative) (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended			12 Months Ended
	Nov. 14, 2017	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Payments for hedge, financing activities	$ 33,500
Derivative, nonmonetary notional amount, shares	9,100
Class of warrant or right, number of securities called by warrants or rights	9,100
Class of warrant or right, exercise price of warrants or rights	$ 23.30
Stock price premium	60%
Share price	$ 14.56
Proceeds from issuance of warrants	$ 23,200
Proceeds from retirement of convertible senior note hedges			$ 19,300	$ 72,400	$ 0	$ 91,729	$ 0
Payments for settlement of warrants		$ (10,700)	$ (14,400)	$ (55,100)	(10,697)	(69,528)	0
Loss on fair value adjustment of derivatives, net					$ (240)	$ (10,585)	$ 0
Common stock
Debt instrument
Exercise of the convertible senior note hedges in connection with the conversion of convertible senior notes and retirement of the corresponding shares (in shares)		300			284

Convertible Notes (Narrative)_3

Convertible Notes (Narrative) (Details 3) - $ / shares	Nov. 17, 2017	Nov. 14, 2017
Debt instrument
Class of warrant or right, exercise price of warrants or rights		$ 23.30
1.375% Convertible senior notes due 2023 \| Convertible senior notes
Debt instrument
Initial conversion price of notes (in dollars per share)	$ 18.93

Convertible Notes (Narrative)_4

Convertible Notes (Narrative) (Details 4)	Nov. 17, 2017 $ / shares
1.375% Convertible senior notes due 2023 \| Convertible senior notes
Debt instrument
Initial conversion price of notes (in dollars per share)	$ 18.93

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Contractual obligations
2024	[1],[2]	$ 18,436
2025	[1],[2]	8,550
2026	[1],[2]	137
2027	[1],[2]	0
2028	[1],[2]	0
Total contractual obligation	[1],[2]	27,123
Unrecognized tax benefit excluding foreign tax withholdings		110,700
Unrecognized tax benefits		184,921	$ 164,531	$ 146,215	$ 134,044
Long-term deferred tax assets
Contractual obligations
Unrecognized tax benefits		31,700	19,600
Long-term income taxes payable
Contractual obligations
Unrecognized tax benefits		78,900	$ 1,300
Software licenses
Contractual obligations
2024	[1],[2],[3]	16,552
2025	[1],[2],[3]	8,083
2026	[1],[2],[3]	0
2027	[1],[2],[3]	0
2028	[1],[2],[3]	0
Total contractual obligation	[1],[2],[3]	$ 24,635
Software licenses \| Engineering development tools
Contractual obligations
Terms of noncancellable license agreement, minimum (in years)		1 year
Software licenses \| Engineering development tools \| Other current liabilities
Contractual obligations
Total contractual obligation		$ 14,600
Software licenses \| Engineering development tools \| Other noncurrent liabilities
Contractual obligations
Total contractual obligation		8,000
Other contractual commitments
Contractual obligations
2024	[1],[2]	1,326
2025	[1],[2]	131
2026	[1],[2]	137
2027	[1],[2]	0
2028	[1],[2]	0
Total contractual obligation	[1],[2]	1,594
Acquisition retention bonuses
Contractual obligations
2024	[1],[2],[4],[5]	558
2025	[1],[2],[4],[5]	336
2026	[1],[2],[4],[5]	0
2027	[1],[2],[4],[5]	0
2028	[1],[2],[4],[5]	0
Total contractual obligation	[1],[2],[4],[5]	$ 894

[1]For the Company’s lease commitments as of December 31, 2023, refer to Note 10, “Leases.”[2]The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $110.7 million, including $31.7 million recorded as a reduction of long-term deferred tax assets and $78.9 million in long-term income taxes payable, as of December 31, 2023. As noted below in Note 18, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the timing of the outcome at this time.[3]The Company has commitments with various software vendors for agreements generally having terms longer than one year. As of December 31, 2023, approximately $14.6 million of the fair value of the liability was included in other current liabilities and $8.0 million was included in other long-term liabilities, in the accompanying Consolidated Balance Sheet.[4] In connection with the acquisitions of Hardent in the second quarter of 2022 and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment.

Equity Incentive Plans and St_3

Equity Incentive Plans and Stock-Based Compensation (Details) - shares		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Potential additional performance stock units
Shares available for grant
Nonvested equity stock and stock units granted (in shares)		200,000		600,000		400,000
Stock compensation plan
Shares available for grant
Shares available as of beginning of period		7,655,769		10,492,178		12,412,320
Number of additional shares authorized	[1]	5,210,000
Stock options forfeited						54,327
Nonvested equity stock and stock units granted (in shares)	[3]	(2,082,334)	[2]	(4,107,633)	[4]	(3,918,251)	[5]
Nonvested equity stock and stock units forfeited (in shares)	[3]	1,170,715		1,271,224		1,943,782
Shares available as of end of period		11,954,150		7,655,769		10,492,178
Stock compensation plan \| Award date, period 1
Shares available for grant
Conversion factor used to calculate the decrease in the number of shares available for grant resulting from the grant of restricted stock awards		1.5
Conversion factor used to calculate the increase in the number of shares available for grant resulting from the forfeiture of restricted stock awards		1.5
Stock compensation plan \| Award date, period 2
Shares available for grant
Conversion factor used to calculate the decrease in the number of shares available for grant resulting from the grant of restricted stock awards		1
Conversion factor used to calculate the increase in the number of shares available for grant resulting from the forfeiture of restricted stock awards		1

[1] On April 27, 2023, the Company’s stockholders approved these additional shares to be reserved for issuance under the 2015 Plan. Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2023 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below. Amount includes approximately 0.6 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in 2022 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below.

Equity Incentive Plans and St_4

Equity Incentive Plans and Stock-Based Compensation (Details 2) - Stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of shares
Outstanding as of the beginning of the period	432,443	549,581	964,211
Options exercised	(307,711)	(117,138)	(360,303)
Options forfeited			(54,327)
Outstanding as of the end of the period	124,732	432,443	549,581
Vested or expected to vest at the end of the period	124,732
Options exercisable at the end of the period	124,732
Weighted-average exercise price
Outstanding at the beginning of the year	$ 11.60	$ 10.71	$ 11.08
Options exercised (in dollars per share)	11.61	7.43	11.06
Options forfeited (in dollars per share)			14.98
Outstanding at the end of the period	11.60	$ 11.60	$ 10.71
Vested or expected to vest at the end of the period (in dollars per share)	11.60
Options exercisable at the end of the period (in dollars per share)	$ 11.60
Weighted-average remaining contractual term (in years)
Outstanding	3 years 4 months 6 days
Vested or expected to vest	3 years 4 months 6 days
Options exercisable	3 years 4 months 6 days
Aggregate intrinsic value
Options exercised	$ 17,430
Outstanding	7,066
Vested or expected to vest	7,066
Options exercisable	$ 7,066

Equity Incentive Plans and St_5

Equity Incentive Plans and Stock-Based Compensation (Details 3) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock options
Valuation assumptions
Dividend yield			0%
Contingently issuable ESPP shares
Valuation assumptions
Expected stock price volatility rate, minimum	48%	40%	32%
Expected stock price volatility rate, maximum	53%	44%	33%
Risk free interest rate, minimum	5.14%	1.49%	0.04%
Risk free interest rate, maximum	5.51%	4.58%	0.05%
Expected term	6 months	6 months	6 months
Weighted-average fair value of purchase rights granted under the purchase plan	$ 14.86	$ 8.02	$ 5.17

Equity Incentive Plans and St_6

Equity Incentive Plans and Stock-Based Compensation (Details 4) - Nonvested equity stock and stock units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonvested equity stock and stock units
Nonvested at the beginning of the period (in shares)	4,718,060	4,718,385	4,851,265
Granted (in shares)	1,268,973	2,338,255	2,363,885
Vested (in shares)	(1,797,002)	(1,853,260)	(1,524,950)
Forfeited (in shares)	(759,839)	(485,320)	(971,815)
Nonvested at the end of the period (in shares)	3,430,192	4,718,060	4,718,385
Weighted-average grant-date fair value
Nonvested at the beginning of the period (in dollars per share)	$ 22.78	$ 16.62	$ 12.82
Granted (in dollars per share)	46.93	28.10	21.18
Vested (in dollars per share)	18.07	14.42	12.41
Forfeited (in dollars per share)	28.60	20.48	15.30
Nonvested at the end of the period (in dollars per share)	$ 32.90	$ 22.78	$ 16.62

Equity Incentive Plans and St_7

Equity Incentive Plans and Stock-Based Compensation (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($) plan $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 shares
Stock-Based Compensation
Tenure of award	10 years
Option One
Stock-Based Compensation
Requisite service period	60 months
Option Two
Stock-Based Compensation
Requisite service period	48 months
Stock compensation plan
Stock-Based Compensation
Shares available for issuance \| shares	11,954,150	7,655,769	10,492,178	12,412,320
Contingently issuable ESPP shares
Stock-Based Compensation
Number of employee stock purchase plans \| plan	1
Minimum number of hours of weekly employment in order to qualify for eligibility in the plan	20 hours
Minimum number of months of employment in a fiscal year in order to qualify for eligibility in the plan	5 months
Offering period	6 months
Percentage of the price at the beginning of the offering period or price at the end of each offering period to derive purchase price	85%
Maximum share value per employee in any calendar year	$ 25,000
Employee stock purchase plan, shares issued during period \| shares	172,711	255,614	384,087
Employee stock purchase plan, weighted-average price per share \| $ / shares	$ 31.10	$ 20.60	$ 12.95
Shares available for issuance \| shares	2,400,000
Stock-based compensation expense	$ 1,800,000	$ 1,700,000	$ 1,400,000
Unrecognized compensation cost	$ 800,000
Unrecognized compensation cost, weighted-average period	4 months
Stock options
Stock-Based Compensation
Total fair value of options vested	$ 500,000	$ 1,700,000	$ 2,000,000
Nonvested equity stock and stock units
Stock-Based Compensation
Requisite service period	4 years	4 years	4 years
Stock-based compensation expense	$ 43,100,000	$ 33,800,000	$ 25,700,000
Unrecognized compensation cost	$ 64,200,000
Unrecognized compensation cost, weighted-average period	1 year 10 months 24 days
Awards, nonvested grants in period, shares \| shares	1,268,973	2,338,255	2,363,885
Awards, nonvested grants in period, fair value	$ 60,700,000	$ 65,600,000	$ 50,100,000
Nonvested equity stock and stock units \| Minimum
Stock-Based Compensation
Awards, vesting rights	0%
Nonvested equity stock and stock units \| Maximum
Stock-Based Compensation
Awards, vesting rights	200%
Nonvested equity stock and stock units \| Director
Stock-Based Compensation
Requisite service period	1 year	1 year	1 year

Stockholders' Equity (Details)

Stockholders' Equity (Details) - 2020 Share repurchase program - USD ($) $ in Millions	Dec. 31, 2023	Nov. 02, 2023	Oct. 29, 2020
Class of stock
Number of shares authorized to be repurchased under the plan			20,000,000
Remaining number of shares authorized to be repurchased	7,900,000
Amount authorized to be repurchased		$ 50
Amount authorized to be repurchased per quarter, maximum		$ 25

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - USD ($) $ in Thousands, shares in Millions			3 Months Ended						12 Months Ended
	Sep. 22, 2023	Aug. 11, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of stock
Repurchase and retirement of common stock under repurchase plan, value									$ (100,526)	$ (100,421)	$ (100,081)
Accumulated deficit
Class of stock
Repurchase and retirement of common stock under repurchase plan, value									$ (94,742)	$ (90,140)	$ (95,810)
2020 Accelerated share repurchase program
Class of stock
Accelerated share repurchase program, upfront payment								$ 50,000
Repurchase and retirement of common stock under repurchase plan, shares							(0.1)	(2.6)
Repurchase and retirement of common stock under repurchase plan, value								$ (40,000)
Remaining initial payment, unsettled forward contract indexed to Company's stock								$ 10,000
2021 Accelerated share repurchase program
Class of stock
Accelerated share repurchase program, upfront payment							$ 100,000
Repurchase and retirement of common stock under repurchase plan, shares						(0.4)	(3.9)
Repurchase and retirement of common stock under repurchase plan, value							$ (80,000)
Remaining initial payment, unsettled forward contract indexed to Company's stock							$ 20,000
2022 Accelerated share repurchase program
Class of stock
Accelerated share repurchase program, upfront payment					$ 100,000
Repurchase and retirement of common stock under repurchase plan, shares				(0.1)	(3.1)
Repurchase and retirement of common stock under repurchase plan, value					$ (80,000)
Remaining initial payment, unsettled forward contract indexed to Company's stock					$ 20,000
2023 Accelerated share repurchase program
Class of stock
Accelerated share repurchase program, upfront payment			$ 100,000
Repurchase and retirement of common stock under repurchase plan, shares	(0.2)	(1.6)
Repurchase and retirement of common stock under repurchase plan, value			(80,000)
Remaining initial payment, unsettled forward contract indexed to Company's stock			$ 20,000

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee contribution limit per calendar year to 401(k) Plan (as a percentage of compensation)	60%
Employer match of employee's gross pay (as a percentage of compensation)	50%
Employer match of employee contributions of first 6% of eligible compensation (as a percentage)	6%
Employer contribution	$ 2	$ 1.9	$ 1.8

Restructuring and Other Charges

Restructuring and Other Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring costs and reserves
Restructuring and other charges	$ 9,368	$ 0	$ 368
2023 Plan
Restructuring costs and reserves
Balance at beginning of period	0
Restructuring and other charges	9,368
Non-cash items	(948)
Payments for Restructuring	(6,752)
Balance at end of period	1,668	0
2023 Plan \| Employee severance
Restructuring costs and reserves
Balance at beginning of period	0
Restructuring and other charges	4,620
Non-cash items	0
Payments for Restructuring	(4,152)
Balance at end of period	468	0
2023 Plan \| Other restructuring
Restructuring costs and reserves
Balance at beginning of period	0
Restructuring and other charges	4,748
Non-cash items	(948)
Payments for Restructuring	(2,600)
Balance at end of period	$ 1,200	$ 0

Restructuring and Other Charg_2

Restructuring and Other Charges (Narrative) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Restructuring costs and reserves
Restructuring and other charges		$ 9,368	$ 0	$ 368
2023 Plan
Restructuring costs and reserves
Restructuring, number of positions eliminated	42
Restructuring and other charges		$ 9,400

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income before taxes
Domestic	$ 154,434	$ (16,663)	$ 19,244
Foreign	32,726	8,838	4,042
Income (loss) before income taxes	187,160	(7,825)	23,286
Income tax contingencies
Unrecognized tax benefits	184,921	$ 164,531	$ 146,215	$ 134,044
Unrecognized Tax Benefits, Including Interest
Income tax contingencies
Unrecognized tax benefits	$ 185,700

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal:
Current	$ 1,075	$ 183	$ (112)
Deferred	(126,734)	2,479	2,042
State:
Current	893	(215)	214
Deferred	(17,264)	24	324
Foreign:
Current	(3,362)	5,828	3,328
Deferred	(1,352)	(1,814)	(844)
Provision for income taxes	$ (146,744)	$ 6,485	$ 4,952

Income Taxes (Details 3)

Income Taxes (Details 3)	12 Months Ended
Income Taxes (Details 3)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective income tax rate reconciliation
Expense (benefit) at U.S. federal statutory rate (as a percentage)	21%	21%	21%
Expense (benefit) at state statutory rate (as a percentage)	(8.70%)	(6.10%)	(2.20%)
Withholding tax (as a percentage)	(3.90%)	(36.60%)	(4.40%)
Foreign rate differential (as a percentage)	(2.60%)	(28.30%)	(3.30%)
Research and development credit (as a percentage)	(2.90%)	(4.80%)	(7.10%)
Executive compensation (as a percentage)	(3.90%)	(49.00%)	(6.60%)
Stock-based compensation (as a percentage)	(5.20%)	(47.90%)	(7.70%)
Foreign tax credit (as a percentage)	(2.50%)	(57.40%)	(84.00%)
Foreign-derived intangible income deduction (as a percentage)	(1.90%)	(70.50%)	(55.80%)
Acquisition (as a percentage)	(1.60%)	(25.10%)	(8.80%)
Debt extinguishment (as a percentage)	0%	(226.70%)	0%
Other (as a percentage)	(0.30%)	(1.00%)	(0.20%)
Valuation allowance (as a percentage)	(85.30%)	(76.10%)	(129.80%)
Effective income tax rate reconciliation (as a percentage)	(78.40%)	(82.90%)	21.30%

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Components of net deferred tax assets (liabilities)
Depreciation and amortization	$ 0	$ 3,247
Lease liabilities	6,607	7,691
Other timing differences, accruals and reserves	5,306	10,393
Deferred equity compensation	3,973	4,366
Net operating loss carryovers	14,578	13,423
Capitalized research	77,244	49,649
Tax credits	50,445	96,758
Total gross deferred tax assets	158,153	185,527
Lease right-of-use assets	(4,589)	(5,501)
Deferred revenue	0	(76)
Depreciation and amortization	(5,078)	0
Total gross deferred tax liabilities	(9,667)	(5,577)
Total net deferred tax assets before valuation allowance	148,486	179,950
Valuation allowance	(25,056)	(201,883)
Net deferred tax assets (liabilities)	$ 123,430
Net deferred tax assets (liabilities)		$ (21,933)

Income Taxes (Details 5)

Income Taxes (Details 5) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Non-current deferred tax assets	$ 127,892	$ 3,031
Non-current deferred tax liabilities	(4,462)	(24,964)
Net deferred tax assets (liabilities)		$ (21,933)
Net deferred tax assets (liabilities)	$ 123,430

Income Taxes (Details 6)

Income Taxes (Details 6) - Tax Valuation Allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in valuation and qualifying accounts
Balance at beginning of period	$ 201,883	$ 206,874	$ 174,119
Charged (credited) to operations	1,776	(7,233)	32,544
Charged to other account	(717)	2,242	211
Valuation allowance release	(177,886)	0	0
Balance at end of period	$ 25,056	$ 201,883	$ 206,874

Income Taxes (Details 7)

Income Taxes (Details 7) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 7) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of the beginning and ending amounts of unrecognized income tax benefits
Balance at beginning of the period	$ 164,531	$ 146,215	$ 134,044
Tax positions related to current year:
Additions	19,403	18,515	18,748
Tax positions related to prior years:
Additions	1,378	0	615
Reductions	(391)	(199)	(1,586)
Settlements	0	0	(5,606)
Balance at end of the period	$ 184,921	$ 164,531	$ 146,215

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating loss and tax credit carryforwards
Valuation allowance, deferred tax asset, decrease	$ 177,900
Unrecognized tax benefits	184,921	$ 164,531	$ 146,215	$ 134,044
Long-term income taxes payable
Operating loss and tax credit carryforwards
Unrecognized tax benefits	78,900	$ 1,300
State and local tax authority \| California Franchise Tax Board
Operating loss and tax credit carryforwards
Operating loss carryforwards	167,700
Tax credit carryforwards, alternative minimum tax credit	500
State and local tax authority \| Other
Operating loss and tax credit carryforwards
Operating loss carryforwards	800
Research and development tax credit carryforward \| Federal
Operating loss and tax credit carryforwards
Tax credit carryforwards	45,200
Research and development tax credit carryforward \| State and local tax authority \| California Franchise Tax Board
Operating loss and tax credit carryforwards
Tax credit carryforwards	28,100
Foreign tax credit
Operating loss and tax credit carryforwards
Tax credit carryforwards	10,100
Foreign tax credit \| Federal
Operating loss and tax credit carryforwards
Tax credit carryforward, subject to expiration	$ 3,900

Income Taxes (Narrative) (Det_2

Income Taxes (Narrative) (Details 2) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax contingencies
Unrecognized tax benefits		$ 184,921	$ 164,531	$ 146,215	$ 134,044
Income tax receivable		88,768	1,064
Long-term income taxes payable		78,947	5,892
Valuation allowance, deferred tax asset, decrease		177,900
Foreign tax authority \| National Tax Services
Income tax contingencies
Portion of unrecognized tax benefits, which if recognized, would be recorded as an income tax benefit		162,200
Income tax receivable	$ 82,700
Long-term income taxes payable	72,600
Valuation allowance, deferred tax asset, decrease	$ 10,100
Long-term deferred tax assets
Income tax contingencies
Unrecognized tax benefits		31,700	19,600
Other assets \| Foreign tax authority \| National Tax Services
Income tax contingencies
Unrecognized tax benefits		75,000	143,600
Long-term income taxes payable
Income tax contingencies
Unrecognized tax benefits		78,900	$ 1,300
Long-term income taxes payable \| Foreign tax authority \| National Tax Services
Income tax contingencies
Unrecognized tax benefits		$ 77,100

Income Taxes (Narrative) (Det_3

Income Taxes (Narrative) (Details 3) $ in Millions	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Undistributed foreign earnings	$ 50.3
Undistributed foreign earnings, estimated foreign withholding taxes	$ 3.1

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Divestiture (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Divestiture
Divestiture, gain (loss), net		$ (90,784)	$ 0	$ 0
Other asset impairment charges		10,045	$ 0	$ 0
Divestiture, not discontinued operations \| PHY IP Group
Divestiture
Divestiture, consideration, initial selling price	$ 110,000
Divestiture, proceeds net	106,300
Divestiture, purchase price adjustments	$ 3,700
Divestiture, gain (loss), net		(90,800)
Divestiture, transaction costs		$ 1,400

Acquisitions Acquisition (Consi

Acquisitions Acquisition (Consideration Transferred) (Details) - USD ($) shares in Millions, $ in Millions	May 20, 2022	Aug. 18, 2021	Jul. 02, 2021
Hardent, Inc.
Business acquisition
Total consideration	$ 16.1
Total consideration transferred	14.7
Hardent, Inc. \| Indemnification obligations
Business acquisition
Escrow deposit	$ 1.2
Escrow release term	18 months
Hardent, Inc. \| Other contractual provisions
Business acquisition
Escrow deposit	$ 0.2
AnalogX, Inc.
Business acquisition
Total consideration			$ 47.5
Total consideration transferred			40.4
Deferred payments, total			7.4
Deferred payments, fair value			7.1
Escrow deposit			$ 5.9
Escrow release term			12 months
PLDA Group
Business acquisition
Total consideration		$ 85.6
Total consideration transferred		$ 67.1
Shares issued related to business acquisition (in shares)		0.3
Shares issued related to business acquisition, fair value		$ 6.9
Additional consideration subject to certain revenue targets, fair value		16.9
Escrow deposit		$ 10
Escrow release term		24 months
PLDA Group \| Maximum
Business acquisition
Additional consideration subject to certain revenue targets		$ 21

Acquisitions Acquisition (Purch

Acquisitions Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	May 20, 2022	Dec. 31, 2021	Aug. 18, 2021	Jul. 02, 2021
Business acquisition
Goodwill	$ 286,812	$ 292,040		$ 278,810
Hardent, Inc.
Business acquisition
Cash and cash equivalents			$ 209
Accounts receivable			1,088
Unbilled receivables			239
Prepaid expenses and other current assets			16
Identified intangible assets			5,000
Goodwill			12,069
Accounts payable			(55)
Deferred revenue			(578)
Income taxes payable			(466)
Deferred tax liability			(1,325)
Other current liabilities			(56)
Recognized identifiable assets acquired and liabilities assumed, net			$ 16,141
AnalogX, Inc.
Business acquisition
Cash and cash equivalents						$ 2,763
Accounts receivable						280
Unbilled receivables						1,566
Prepaid expenses and other current assets						1,354
Identified intangible assets						6,800
IPR&D						3,800
Goodwill						39,309
Property, plant and equipment, net						118
Accounts payable						(1,112)
Deferred revenue						(23)
Income taxes payable						(7,127)
Other current liabilities						(215)
Recognized identifiable assets acquired and liabilities assumed, net						$ 47,513
PLDA Group
Business acquisition
Cash and cash equivalents					$ 5,820
Accounts receivable					2,233
Inventories					125
Prepaid expenses and other current assets					836
Identified intangible assets					21,400
IPR&D					7,400
Goodwill					57,543
Property, plant and equipment, net					679
Operating lease right-of-use assets					864
Other asset					339
Accounts payable					(1,046)
Accrued salaries and benefits					(814)
Deferred revenue					(514)
Income taxes payable					(118)
Operating lease liability					(852)
Deferred tax liability					(8,180)
Other current liabilities					(74)
Recognized identifiable assets acquired and liabilities assumed, net					$ 85,641

Acquisitions Acquisitions (Inta

Acquisitions Acquisitions (Intangible Assets Acquired as Part of Business Combination) (Details) - USD ($) $ in Thousands				12 Months Ended
	May 20, 2022	Aug. 18, 2021	Jul. 02, 2021	Dec. 31, 2022	Dec. 31, 2023
Minimum
Identified intangible assets assumed in the acquisitions
Useful life (in years)					6 months
Maximum
Identified intangible assets assumed in the acquisitions
Useful life (in years)					10 years
Existing technology
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed, weighted-average useful life				5 years
Existing technology \| Minimum
Identified intangible assets assumed in the acquisitions
Useful life (in years)				3 years	3 years
Existing technology \| Maximum
Identified intangible assets assumed in the acquisitions
Useful life (in years)				10 years	10 years
Customer contracts and contractual relationships \| Minimum
Identified intangible assets assumed in the acquisitions
Useful life (in years)				6 months	6 months
Customer contracts and contractual relationships \| Maximum
Identified intangible assets assumed in the acquisitions
Useful life (in years)				10 years	10 years
Hardent, Inc.
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 5,000
Hardent, Inc. \| Existing technology
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 4,800
Identified intangible assets assumed, weighted-average useful life	5 years
Hardent, Inc. \| Customer contracts and contractual relationships
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed	$ 200
Identified intangible assets assumed, weighted-average useful life	2 years
AnalogX, Inc.
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed			$ 10,600
Indefinite-lived intangible assets acquired			3,800
AnalogX, Inc. \| Existing technology
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed			$ 6,300
Identified intangible assets assumed, weighted-average useful life			5 years
AnalogX, Inc. \| Customer contracts and contractual relationships
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed			$ 500
Identified intangible assets assumed, weighted-average useful life			2 years
AnalogX, Inc. \| In-process research and development \| Minimum
Identified intangible assets assumed in the acquisitions
Useful life (in years)			3 years
PLDA Group
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed		$ 28,800
Indefinite-lived intangible assets acquired		7,400
PLDA Group \| Existing technology
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed		$ 20,400
PLDA Group \| Existing technology \| Minimum
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed, weighted-average useful life		3 years
PLDA Group \| Existing technology \| Maximum
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed, weighted-average useful life		5 years
PLDA Group \| Customer contracts and contractual relationships
Identified intangible assets assumed in the acquisitions
Identified intangible assets assumed		$ 1,000
Identified intangible assets assumed, weighted-average useful life		2 years
PLDA Group \| In-process research and development \| Minimum
Identified intangible assets assumed in the acquisitions
Useful life (in years)		3 years
PLDA Group \| In-process research and development \| Maximum
Identified intangible assets assumed in the acquisitions
Useful life (in years)		5 years

Acquisitions Acquisitions (Pro

Acquisitions Acquisitions (Pro Forma Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Hardent, Inc.
Pro forma financial information, nonrecurring adjustment
Pro forma financial information, revenue	$ 457,852	$ 336,258
Pro forma financial information, net income (loss)	$ (13,251)	19,452
AnalogX, Inc and PLDA Group
Pro forma financial information, nonrecurring adjustment
Pro forma financial information, revenue		338,961
Pro forma financial information, net income (loss)		$ 16,533

Acquisitions Acquisition (Addit

Acquisitions Acquisition (Additional Information) (Details) - USD ($) $ in Thousands						12 Months Ended
		May 20, 2022	Aug. 18, 2021	Jul. 02, 2021	Jun. 16, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Business acquisition
Contractual obligation	[1],[2]							$ 27,123
Acquisition retention bonuses
Business acquisition
Contractual obligation	[1],[2],[3],[4]							$ 894
Hardent, Inc.
Business acquisition
Total consideration		$ 16,100
Total consideration transferred		14,700
Acquisition-related costs						$ 1,200
Hardent, Inc. \| Acquisition-related Costs
Business acquisition
Pro forma financial information, adjustment, acquisition-related costs						$ 1,200
Hardent, Inc. \| Acquisition retention bonuses \| Annually
Business acquisition
Contractual obligation		1,200
Hardent, Inc. \| Indemnification obligations
Business acquisition
Escrow deposit		$ 1,200
Escrow release term		18 months
Hardent, Inc. \| Other contractual provisions
Business acquisition
Escrow deposit		$ 200
AnalogX, Inc.
Business acquisition
Total consideration				$ 47,500
Total consideration transferred				40,400
Escrow deposit				$ 5,900
Escrow release term				12 months
Acquisition-related costs				$ 800
Goodwill expected to be tax deductible				26,900
AnalogX, Inc. \| Acquisition retention bonuses
Business acquisition
Contractual obligation				$ 3,500
PLDA Group
Business acquisition
Total consideration			$ 85,600
Total consideration transferred			67,100
Escrow deposit			$ 10,000
Escrow release term			24 months
Acquisition-related costs			$ 1,400
PLDA Group \| In-process research and development
Business acquisition
Expected period of project completion					36 months
PLDA Group \| Acquisition retention bonuses
Business acquisition
Contractual obligation			$ 3,000
AnalogX, Inc and PLDA Group \| Acquisition-related Costs
Business acquisition
Pro forma financial information, adjustment, acquisition-related costs							$ 2,200

[1]For the Company’s lease commitments as of December 31, 2023, refer to Note 10, “Leases.”[2]The above table does not reflect possible payments in connection with unrecognized tax benefits of approximately $110.7 million, including $31.7 million recorded as a reduction of long-term deferred tax assets and $78.9 million in long-term income taxes payable, as of December 31, 2023. As noted below in Note 18, “Income Taxes,” although it is possible that some of the unrecognized tax benefits could be settled within the next 12 months, the Company cannot reasonably estimate the timing of the outcome at this time.[3] In connection with the acquisitions of Hardent in the second quarter of 2022 and PLDA in the third quarter of 2021, the Company is obligated to pay retention bonuses to certain employees subject to certain eligibility and acceleration provisions, including the condition of employment.