Net Income

22% increase (from $158 million in Q1 2025 to $193 million in Q1 2026)

Improved operational performance: The increase in net income builds on previous period improvements in gross profit and cost controls, reflecting stronger underlying profitability and better margin management from earlier efficiency initiatives. " "

Operating Cash Flow

–567% swing (from $30 million in Q1 2025 to –$140 million in Q1 2026)

Worsening working capital and timing issues: The dramatic decline likely stems from unfavorable changes in working capital—such as slower inventory turnover or increased receivables—that reversed the positive cash flows seen in Q1 2025, building on previous favorable trends that could not be sustained. " "

Share-Based Compensation

37% increase (from $27 million in Q1 2025 to $37 million in Q1 2026)

Higher grant activity and revised equity programs: The rise reflects continued expansion of share-based awards initiated in earlier periods, with increased grant volumes and enhanced fair value metrics driving compensation expense upward as part of ongoing incentive strategy adjustments. " "

Cash and Cash Equivalents

29% increase (from $1,532 million in Q1 2025 to $1,976 million in Q1 2026)

Stronger liquidity position: The improved cash balance results from robust operating cash generation in earlier periods combined with prudent liquidity management and higher levels of short-term investments, reinforcing the positive cash dynamics seen previously. " "

Total Stockholders’ Equity

23% increase (from $2,707 million in Q1 2025 to $3,321 million in Q1 2026)

Cumulative effect of net income and capital adjustments: This growth is driven by the accumulation of higher net income, share-based compensation that increased additional paid-in capital, and positive capital inflows offsetting dividend payouts and repurchases—a trend that had been building in prior periods. " "