Acacia Communications (ACIA) 10-Q 4 May 20 2020 Q1 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-37771
Entity Registrant Name	Acacia Communications, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0291921
Entity Address, Address Line One	Three Mill and Main Place
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Maynard
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01754
City Area Code	978
Local Phone Number	938-4896
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ACIA
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		41,787,199
Entity Central Index Key	0001651235
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 86,010	$ 36,617
Marketable securities - short-term	281,686	300,129
Accounts receivable	96,826	97,948
Inventory	36,300	40,820
Prepaid expenses and other current assets	8,180	6,518
Total current assets	509,002	482,032
Marketable securities - long-term	122,545	134,632
Property and equipment, net	26,427	26,801
Operating lease right-of-use assets	30,097	25,046
Deferred tax asset	52,185	51,798
Other assets	789	1,106
Total assets	741,045	721,415
Current liabilities:
Accounts payable	43,578	46,957
Accrued liabilities	58,524	61,680
Deferred revenue	3,496	4,483
Total current liabilities	105,598	113,120
Income taxes payable	7,117	7,117
Non-current operating lease liabilities	19,710	15,726
Other long-term liabilities	5,980	7,029
Total liabilities	138,405	142,992
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 5,000 shares authorized; none issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Common stock, $0.0001 par value; 150,000 shares authorized; 42,690 and 42,399 shares issued at March 31, 2020 and December 31, 2019, respectively	4	4
Treasury stock, at cost; 974 shares at March 31, 2020 and December 31, 2019	(39,712)	(39,712)
Additional paid-in capital	411,618	402,032
Accumulated other comprehensive (loss) income	(293)	720
Retained earnings	231,023	215,379
Total stockholders’ equity	602,640	578,423
Total liabilities and stockholders’ equity	$ 741,045	$ 721,415

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	42,690,000	42,399,000
Treasury stock, at cost (in shares)	974,000	974,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 125,626	$ 105,216
Cost of revenue	66,344	55,374
Gross profit	59,282	49,842
Operating expenses:
Research and development	32,095	30,953
Sales, general and administrative	14,371	15,787
Total operating expenses	46,466	46,740
Income from operations	12,816	3,102
Other income, net:
Interest income, net	2,293	2,446
Other expense, net	(43)	(52)
Total other income, net	2,250	2,394
Income before benefit for income taxes	15,066	5,496
Benefit for income taxes	(578)	(1,481)
Net income	$ 15,644	$ 6,977
Earnings per share:
Basic (in USD per share)	$ 0.38	$ 0.17
Diluted (in USD per share)	$ 0.36	$ 0.17
Weighted-average shares used to compute earnings per share:
Basic (in shares)	41,575	40,284
Diluted (in shares)	43,042	41,962

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 15,644	$ 6,977
Other comprehensive (loss) income:
Changes in unrealized income (loss) on marketable securities, net of income taxes of $39 and $(88) for the three months ended March 31, 2020 and 2019, respectively	(1,013)	555
Comprehensive income	$ 14,631	$ 7,532

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Changes in unrealized loss on marketable securities, tax	$ 39	$ (88)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2018		41,024	974
Beginning balance at Dec. 31, 2018	$ 502,727	$ 4	$ (39,712)	$ 360,267	$ (372)	$ 182,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of common stock options (in shares)		190
Exercise of common stock options	1,400			1,400
Vesting of restricted stock units (in shares)		316
Stock-based compensation expense	7,967			7,967
Unrealized gains (losses) on marketable securities, net of tax	555				555
Net income	6,977					6,977
Ending balance (in shares) at Mar. 31, 2019		41,530	974
Ending balance at Mar. 31, 2019	519,626	$ 4	$ (39,712)	369,634	183	189,517
Beginning balance (in shares) at Dec. 31, 2019		42,399	974
Beginning balance at Dec. 31, 2019	$ 578,423	$ 4	$ (39,712)	402,032	720	215,379
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of common stock options (in shares)	36	36
Exercise of common stock options	$ 323			323
Vesting of restricted stock units (in shares)		255
Stock-based compensation expense	9,263			9,263
Unrealized gains (losses) on marketable securities, net of tax	(1,013)				(1,013)
Net income	15,644					15,644
Ending balance (in shares) at Mar. 31, 2020		42,690	974
Ending balance at Mar. 31, 2020	$ 602,640	$ 4	$ (39,712)	$ 411,618	$ (293)	$ 231,023

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Changes in unrealized loss on marketable securities, tax	$ 39	$ (88)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 15,644	$ 6,977
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,670	3,243
Stock-based compensation	9,384	8,008
Deferred income taxes	(387)	(1,449)
Non-cash lease expense	1,206	1,074
Other non-cash benefits	(247)	(643)
Changes in operating assets and liabilities:
Accounts receivable	1,122	7,440
Inventory	4,520	(1,201)
Prepaid expenses and other current assets	(1,662)	805
Other assets	324	(96)
Accounts payable	(2,828)	1,658
Accrued liabilities	(3,803)	4,661
Deferred revenue	(2,155)	519
Income taxes payable	0	(862)
Lease liabilities	(1,852)	(815)
Other long-term liabilities	119	9
Net cash provided by operating activities	22,055	29,328
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(2,742)	(2,724)
Purchases of marketable securities	(81,937)	(105,206)
Sales and maturities of marketable securities	111,701	90,290
Deposits	(7)	0
Net cash provided by (used in) investing activities	27,015	(17,640)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of common stock under stock-based compensation plans	323	1,400
Net cash provided by financing activities	323	1,400
Net increase in cash and cash equivalents	49,393	13,088
Cash and cash equivalents—Beginning of period	36,617	60,444
Cash and cash equivalents—End of period	86,010	73,532
Supplemental cash flow disclosures:
(Refunds received) cash paid for income taxes, net	(545)	878
Supplemental disclosure of non-cash investing and financing activities:
Right of use assets acquired under operating leases	4,846	3,328
Capital expenditures incurred but not yet paid	$ 787	$ 862

NATURE OF THE BUSINESS AND OPER

NATURE OF THE BUSINESS AND OPERATIONS	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF THE BUSINESS AND OPERATIONS	NATURE OF THE BUSINESS AND OPERATIONS Acacia Communications, Inc. was incorporated on June 2, 2009 , as a Delaware corporation. Acacia Communications, Inc. and its wholly-owned subsidiaries (the “Subsidiaries”) are collectively referred to as the Company. The Company’s mission is to deliver high-speed coherent optical interconnect products that transform communications networks, relied upon by cloud infrastructure operators and content and communication service providers, through improvements in performance and capacity and reductions in associated costs. By implementing optical interconnect technology in a silicon-based platform, a process the Company refers to as the siliconization of optical interconnect, the Company believes it is leading a disruption that is analogous to the computing industry’s integration of multiple functions into a microprocessor. The Company’s products fall into three product groups: embedded modules, pluggable modules and semiconductors. The Company’s embedded module and pluggable module product groups consist of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second (“Gbps”), for use in long-haul, metro and inter-data center markets. The Company’s semiconductor product group consists of its low-power coherent digital signal processor application-specific integrated circuits (“DSP ASICs”) and its silicon photonic integrated circuits (“silicon PICs”) which are either integrated into the Company’s embedded and pluggable modules or sold to customers on a standalone basis for integration into internally developed or other merchant modules. The Company is also developing a 400ZR module that will expand its pluggable module product group, and enable inter-data center transmission capacity of 400 Gbps in the same compact pluggable form factors used for 400G client optics, including QSFP-DD and OSFP. The Company’s 400 Gbps pluggable product family will also include a new CFP2-DCO module that supports transmission rates up to 400 Gbps and the OpenROADM specification. The Company’s modules perform a majority of the digital signal processing and optical functions in optical interconnects and offer low power consumption, high density and high speeds at attractive price points. Through the use of standard interfaces, the Company’s modules can be easily integrated with customers’ network equipment. The advanced software in the Company’s modules enables increased configurability and automation, provides insight into network and connection point characteristics and helps identify network performance problems, all of which increase flexibility and reduce operating costs. The Company is headquartered in Maynard, Massachusetts, and has wholly-owned subsidiaries in North America, Europe and Asia. Proposed Merger with Cisco Systems On July 8, 2019, the Company, Cisco Systems, Inc., a California corporation (the “Parent”), and Amarone Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of the Parent (the “Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, among other things, the Merger Sub will be merged with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of the Parent. The Merger Agreement was adopted by the Company’s stockholders at a special meeting held on September 6, 2019. Completion of the Merger is subject to customary closing conditions, including (i) obtaining certain foreign antitrust approvals, including in China, (ii) the absence of governmental injunctions or other legal restraints prohibiting the Merger or imposing certain antitrust restraints and (iii) the absence of a “Material Adverse Effect,” as defined in the Merger Agreement. The Company and the Parent have already received antitrust clearance for the Merger in the United States, Germany and Austria. If the Merger is completed, each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger, subject to certain exceptions, will be converted into the right to receive $70.00 in cash. Subject to the satisfaction of these conditions, the parties expect the Merger to close in the second half of the Parent’s 2020 fiscal year which ends on July 25, 2020. For additional information related to the Merger Agreement, refer to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 9, 2019, which includes the full text of the Merger Agreement as Exhibit 2.1. During the three months ended March 31, 2020 , the Company recorded acquisition-related costs of $0.9 million in sales, general and administrative expense within our condensed consolidated statements of operations.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The unaudited condensed consolidated financial statements include the accounts of Acacia Communications, Inc. and its Subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. For further information, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 , which was filed with the SEC on February 18, 2020. There have been no significant changes in the Company’s accounting policies from those disclosed in the Annual Report on Form 10-K that have had a material impact on the Company’s condensed consolidated financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2019 , and in management’s opinion, include all adjustments, consisting of only normal recurring adjustments, necessary for the fair statement of the Company’s condensed consolidated balance sheet as of March 31, 2020 , its condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019 , its condensed consolidated statements of comprehensive income for the three months ended March 31, 2020 and 2019 , its condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2020 and 2019 , and its condensed consolidated statements of cash flows for the three months ended March 31, 2020 and 2019 . All intercompany balances and transactions have been eliminated in consolidation. The financial data and the other financial information disclosed in the notes to these condensed consolidated financial statements related to the three months ended March 31, 2020 and 2019 are also unaudited. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full fiscal year or any other period. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 is intended to provide more decision-useful information about expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The main provisions include presenting financial assets measured at amortized cost at the amount expected to be collected, which is net of an allowance for expected credit losses, and recording credit losses related to available-for-sale securities through an allowance for credit losses. On January 1, 2020, the Company adopted ASU 2016-13 using the modified retrospective approach. There was no impact from the adoption of ASU 2016-13 on the Company’s condensed consolidated financial statements. The Company is exposed to credit losses through sales of its products. The Company determines if there is an expected loss on its accounts receivables using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. The Company has not recorded any allowance for credit losses as of March 31, 2020 or December 31, 2019 . Refer to Note 4 for information regarding how the Company assesses credit losses on its available-for-sale debt securities. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 is intended to simplify the accounting for income taxes by, among other things, eliminating certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. Upon adoption, ASU 2019-12 will require companies to apply certain aspects of this standard retrospectively for all periods presented, while requiring other aspects to be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this new standard on its condensed consolidated financial statements.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The opening and closing balances of the Company’s accounts receivable and deferred revenue for the three months ended March 31, 2020 are as follows (in thousands): Balance at Beginning of Period Decrease Balance at End of Period Three Months Ended March 31, 2020 Accounts receivable $ 97,948 (1,122 ) $ 96,826 Deferred revenue (current) $ 4,483 (987 ) $ 3,496 Deferred revenue (non-current) $ 3,444 (1,167 ) $ 2,277 The amount of revenue recognized in the period that was included in the opening deferred revenue balances was approximately $2.3 million for the three months ended March 31, 2020 . Generally, increases in current and non-current deferred revenue are related to billings to, or advance payments from, customers for which the Company has not yet fulfilled its performance obligations, and decreases are related to revenue recognized. Deferred revenue not expected to be recognized within the Company’s operating cycle of one year is presented as a component of “Other long-term liabilities” on the condensed consolidated balance sheets. At times, the Company receives orders for products that may be delivered over multiple dates that may extend across reporting periods. The Company invoices for each delivery upon shipment and recognizes revenues for each distinct product delivered, assuming transfer of control has occurred. Generally, scheduled delivery dates are within one year, and the Company has elected to use the optional exemption whereby revenues allocated to partially completed contracts with an expected duration of one year or less are not disclosed. As of March 31, 2020 , the Company had no contracts with unsatisfied performance obligations with a duration of more than one year. Disaggregation of Revenue The following table provides information about disaggregated revenue based on product group (in thousands). Further disaggregation of revenue by geographic country can be found in Note 14. Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Revenue ($) Revenue (%) Revenue ($) Revenue (%) Embedded modules $ 21,769 17 % $ 17,426 16 % Pluggable modules 58,658 47 % 55,517 53 % Semiconductors 45,199 36 % 32,273 31 % Total revenue $ 125,626 100 % $ 105,216 100 %

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The following tables set forth the Company’s cash, cash equivalents and short- and long-term marketable securities as of March 31, 2020 and December 31, 2019 (in thousands): As of March 31, 2020 Gross Unrealized Amortized Cost Gains Losses (1) Estimated Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 69,070 $ — $ — $ 69,070 $ 69,070 $ — Money market funds 16,429 — — 16,429 16,429 — U.S. treasury bonds 99,264 635 — 99,899 — 99,899 Commercial paper 32,040 5 — 32,045 — 32,045 Certificates of deposit 22,841 27 (144 ) 22,724 22,724 Asset-backed securities 67,825 44 (87 ) 67,782 — 67,782 Corporate debt securities 183,081 183 (972 ) 182,292 511 181,781 Total $ 490,550 $ 894 $ (1,203 ) $ 490,241 $ 86,010 $ 404,231 (1) Losses represent marketable securities that were in loss positions for less than one year. As of December 31, 2019 Gross Unrealized Gains Losses (1) Cash $ 29,116 $ — $ — $ 29,116 $ 29,116 $ — Money market funds 2,010 — — 2,010 2,010 — U.S. treasury bonds 116,710 126 (1 ) 116,835 — 116,835 Commercial paper 44,300 — — 44,300 5,491 38,809 Certificates of deposit 24,522 19 (2 ) 24,539 — 24,539 Asset-backed securities 73,370 134 (5 ) 73,499 — 73,499 Corporate debt securities 180,607 475 (3 ) 181,079 — 181,079 Total $ 470,635 $ 754 $ (11 ) $ 471,378 $ 36,617 $ 434,761 (1) Losses represent marketable securities that were in loss positions for less than one year. The proceeds from the sales and maturities of marketable securities, which were primarily reinvested and resulted in realized gains and losses, were as follows (in thousands): Three Months Ended March 31, 2020 2019 Proceeds from the sales and maturities of marketable securities $ 111,701 $ 90,290 Realized gains $ 64 $ 3 Realized losses $ — $ (2 ) The contractual maturities of short-term and long-term marketable securities held at March 31, 2020 and December 31, 2019 are as follows (in thousands): As of March 31, 2020 As of December 31, 2019 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value Due within one year $ 281,658 $ 281,686 $ 299,725 $ 300,129 Due after one year through four years 122,880 122,545 134,292 134,632 Total $ 404,538 $ 404,231 $ 434,017 $ 434,761 As of March 31, 2020 , the Company believed that none of its unrealized losses on its available-for-sale investments were attributable to credit losses and therefore were not impaired. The investments with unrealized losses consisted primarily of corporate debt securities. In making the determination that the decline in fair value of these securities did not indicate impairment, the Company considered various factors, including, but not limited to: the extent to which fair value was less than cost; the financial condition and near-term prospects of the issuers; and the Company’s intent not to sell these securities and the assessment that it is more likely than not that the Company would not be required to sell these securities before the recovery of their amortized cost basis. Unrealized gains and losses, net of taxes, are reported as a component of accumulated other comprehensive (loss) income in the Company’s condensed consolidated statements of stockholders’ equity. No material amounts were reclassified out of accumulated other comprehensive (loss) income during the three months ended March 31, 2020 and 2019 for realized gains or losses on available-for-sale investments.

INVENTORY

INVENTORY	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Raw materials $ 20,909 $ 24,777 Work-in-process 307 673 Finished goods 15,084 15,370 Inventory $ 36,300 $ 40,820

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Engineering laboratory equipment $ 59,066 $ 58,320 Computer software 3,780 3,730 Computer equipment 8,513 7,837 Furniture and fixtures 3,641 3,641 Leasehold improvements 4,104 3,999 Construction in progress 3,168 2,449 Total property and equipment 82,272 79,976 Less: Accumulated depreciation (55,845 ) (53,175 ) Property and equipment, net $ 26,427 $ 26,801 Depreciation expense was $2.7 million and $3.2 million for the three months ended March 31, 2020 and 2019 , respectively.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Employee-related liabilities $ 9,227 $ 10,816 Current maturities of operating leases 4,269 4,228 Goods and services received not invoiced 3,906 2,297 Accrued manufacturing related expenses 3,731 3,781 Warranty reserve 9,835 10,354 Litigation and settlement accrual 20,000 20,000 Other accrued liabilities 7,556 10,204 Accrued liabilities $ 58,524 $ 61,680

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASES	LEASES The Company leases real estate assets and equipment. For leases with terms greater than 12 months, the Company records the related right -of-use (“ROU”) asset and lease obligation at the present value of lease payments over the term. Many leases include fixed rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. The Company’s leases do not usually provide a readily determinable implicit discount rate; therefore, an estimate of the Company’s incremental borrowing rate is used to discount the lease payments based on information available at lease commencement, including observable rates, adjusted for various factors including financing spreads and other lease specific adjustments, as applicable. The Company has elected not to record an ROU asset and lease obligation for short-term leases (with terms less than 12 months) or separate non-lease components from associated lease components for its real estate lease assets. The Company’s leases have remaining lease terms of less than one year to eight years . Some leases include one or more options to renew with renewal terms that can extend the lease term from three years to five years , or options to terminate the leases, both at the Company’s discretion. The Company’s lease terms include options to extend or terminate leases when the Company concludes it is reasonably certain that it would exercise those options. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s lease agreements do not contain any variable lease payments, material residual value guarantees or material restrictive covenants. The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheet as of March 31, 2020 (in thousands): Classification on the Balance Sheet March 31, 2020 Assets Operating lease assets Operating lease right-of-use assets $ 30,097 Liabilities Current - operating Accrued liabilities 4,269 Noncurrent - operating Noncurrent operating lease liabilities 19,710 Total lease liabilities $ 23,979 Weighted-average remaining lease term - operating leases 6.6 years Weighted-average discount rate - operating leases 4.25 % Operating lease costs were $1.5 million and $1.2 million during the three months ended March 31, 2020 and 2019 , respectively. Short-term lease costs during the three months ended March 31, 2020 and 2019 were immaterial. Cash paid for amounts included in the measurement of lease liabilities was $1.1 million and $1.0 million during the three months ended March 31, 2020 and 2019 , respectively, which were operating cash outflows. The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2020 (in thousands): Operating Leases Remaining 2020 $ 3,248 2021 4,375 2022 4,261 2023 4,414 2024 4,436 Thereafter 6,698 Total minimum lease payments 27,432 Less: amount of lease payments representing interest (3,453 ) Present value of future minimum lease payments 23,979 Less: current obligation under leases 4,269 Long-term lease obligations $ 19,710 As of March 31, 2020 , the Company was committed to expend approximately $1.4 million for additional construction build-out at its New Jersey facility.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: Level 1 —Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investments are in money market funds, U.S. treasury bonds, commercial paper, certificates of deposit, asset-backed securities and corporate debt securities, which are classified as Level 2 within the fair value hierarchy, and were initially valued at the transaction price and subsequently valued at each reporting date utilizing market-observable data. The market-observable data included reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. The fair value of these assets measured on a recurring basis was determined using the following inputs as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets: Money market funds $ — $ 16,429 $ — $ 16,429 U.S. treasury bonds — 99,899 — 99,899 Commercial paper — 32,045 — 32,045 Certificates of deposit — 22,724 — 22,724 Asset-backed securities — 67,782 — 67,782 Corporate debt securities — 182,292 — 182,292 Total $ — $ 421,171 $ — $ 421,171 December 31, 2019 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets: Money market funds $ — $ 2,010 $ — $ 2,010 U.S. treasury bonds — 116,835 — 116,835 Commercial paper — 44,300 — 44,300 Certificates of deposit — 24,539 — 24,539 Asset-backed securities — 73,499 — 73,499 Corporate debt securities — 181,079 — 181,079 Total $ — $ 442,262 $ — $ 442,262 There were no transfers between fair value measurement levels during the three months ended March 31, 2020 or 2019 . For certain other financial instruments, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION PLANS	STOCK COMPENSATION PLANS The following table summarizes the classification of stock-based compensation in the condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenue $ 522 $ 520 Research and development 5,985 4,746 Sales, general and administrative 2,877 2,742 Total stock-based compensation $ 9,384 $ 8,008 The following table summarizes stock-based compensation expense by award type for the three months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Stock options $ 302 $ 577 Restricted stock units 8,961 7,081 Employee stock purchase plan — 309 Other awards 121 41 Total stock-based compensation $ 9,384 $ 8,008 Stock Options A summary of stock option activity under the Company’s equity incentive plans for the three months ended March 31, 2020 is as follows: Number of Options (in thousands) Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2019 715 $ 11.14 4.6 $ 41,036 Granted — $ — Exercised (36 ) $ 9.03 $ 2,124 Canceled — $ — Outstanding at March 31, 2020 679 $ 11.25 4.3 $ 38,505 Vested and expected to vest at: March 31, 2020 679 $ 11.25 4.3 $ 38,505 December 31, 2019 715 $ 11.14 4.6 $ 41,036 Exercisable at: March 31, 2020 661 $ 10.51 4.2 $ 37,910 December 31, 2019 671 $ 9.99 4.4 $ 39,212 As of March 31, 2020 and December 31, 2019 , there was $0.2 million and $0.5 million , respectively, of unrecognized compensation cost related to unvested common stock options which will be recognized over weighted-average periods of 1.1 years and 0.6 years , respectively. No stock option awards were issued by the Company during the three months ended March 31, 2020 or 2019 . Restricted Stock Units During the three months ended March 31, 2020 , the Company granted approximately 103,000 restricted stock units (“RSUs”) to employees under the 2016 Equity Incentive Plan that vest upon the satisfaction of a service condition, generally over four years . The cost of any RSUs with only a service condition is determined using the fair value of the Company’s common stock on the date of grant, and compensation is recognized on a ratable basis over the requisite vesting period. As soon as practicable following each vesting date of RSUs, the Company will issue to the holder of the RSUs the number of shares of common stock equal to the aggregate number of RSUs that have vested. Notwithstanding the foregoing, the Company may, in its sole discretion, in lieu of issuing shares of common stock to the holder of the RSUs, pay the holder an amount in cash equal to the fair market value of such shares of common stock. To date, the Company has not settled any vested RSUs with cash. A summary of the changes in the Company’s RSUs during the three months ended March 31, 2020 is as follows: RSUs (in thousands) Weighted-Average Grant Date Fair Value Outstanding at December 31, 2019 1,951 $ 48.69 Granted 103 $ 68.35 Vested (255 ) $ 42.35 Canceled (2 ) $ 52.98 Outstanding at March 31, 2020 1,797 $ 50.70 As of March 31, 2020 and December 31, 2019 , there was $68.0 million and $70.1 million , respectively, of total unrecognized compensation cost related to unvested RSUs which will be recognized over weighted-average periods of 2.0 years and 2.1 years , respectively.

NET INCOME PER SHARE

NET INCOME PER SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE The following table sets forth the computation of the Company’s basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Numerator: Net income $ 15,644 $ 6,977 Denominator: Weighted-average shares used to compute net income per share - basic 41,575 40,284 Dilutive effect of stock options, unvested restricted stock units and employee stock purchase plan 1,467 1,678 Weighted-average shares used to compute net income per share - diluted 43,042 41,962 Net income per share Basic $ 0.38 $ 0.17 Diluted $ 0.36 $ 0.17 The following common stock equivalents (in thousands) were excluded from the computation of diluted net income per share for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2020 2019 Options to purchase common stock 21 49 Unvested restricted stock units 9 176 Estimates of the number of shares contingently issuable based on average market prices through March 31, 2020 for all outstanding performance-based RSUs that include a market condition in addition to a service condition have been included in the antidilutive table above.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Warranties The Company’s standard warranty obligation to its customers provides for repair or replacement of a defective product at the Company’s discretion for a period of time following purchase, generally between 12 and 24 months . Factors that affect the warranty obligation include product failure rates, material usage and service delivery costs incurred in correcting product failures. In addition, from time to time, specific warranty accruals may be made if unforeseen technical problems arise. The estimated cost associated with fulfilling the Company’s warranty obligation to customers is recorded in cost of revenue. Changes in the Company’s warranty liability, which is included as a component of accrued liabilities on the condensed consolidated balance sheets, are set forth in the table below (in thousands): Three Months Ended March 31, 2020 2019 Warranty reserve, beginning of period $ 10,354 $ 8,220 Provisions made to warranty reserve during the period 1,847 5,026 Charges against warranty reserve during the period (2,366 ) (3,729 ) Warranty reserve, end of period $ 9,835 $ 9,517 Legal Contingencies On January 21, 2016, ViaSat, Inc. filed a lawsuit in California state court, 37-2016-00002323-CU-BC-NC, later removed to the U.S. District Court for the Southern District of California, against the Company alleging, among other things, breach of contract, breach of the implied covenant of good faith and fair dealing and misappropriation of trade secrets. On February 19, 2016, the Company responded to ViaSat’s lawsuit and alleged counterclaims against ViaSat including, among other things, patent misappropriation, breach of contract, breach of the implied covenant of good faith and fair dealing, misappropriation of trade secrets and unfair competition. In its response filed March 16, 2016, ViaSat denied the Company’s counterclaims. On September 28, 2018 the matter was remanded back to the California Superior Court, County of San Diego, North County Division 3:16-cv-00463, D.I. 197. In April 2019, the California Superior Court denied the parties’ cross motions for summary adjudication. At the court’s direction, the parties participated in a mandatory mediation process, but no resolution was reached. Trial took place in June and July of 2019, and the jury returned a verdict on July 17, 2019. The jury found against the Company for breach of contract, willful and malicious misappropriation of trade secrets, and breach of the covenant of good faith and fair dealing implied by law in the parties’ contract. The jury also found that ViaSat breached the same contract and misappropriated the Company’s trade secrets. The jury awarded damages of $49.3 million to ViaSat for the Company’s breaches of contract, and $1 to ViaSat for its trade secret misappropriation claim. The jury awarded $1 to the Company for ViaSat’s misappropriation of trade secrets and awarded no damages to the Company for ViaSat’s breach of contract. ViaSat filed post-trial motions seeking up to approximately $10.0 million for attorney’s fees and approximately $6.2 million for so-called “cost-of-proof” sanctions and an order that the Company pay ViaSat ongoing royalties on sales after December 31, 2018. ViaSat also sought a new trial and judgment in its favor notwithstanding the verdict on its trade secret damages claim. The Company filed post-trial motions for entry of judgment in its favor notwithstanding the verdict on ViaSat’s breach of contract and trade secret damages claims and for a new trial, and moved to reduce the total damages awarded to ViaSat to no more than $12.8 million pursuant to a provision of the contract containing a limitation on liability for claims arising from the contract. The Court denied the post-trial motions filed by both parties, and on December 5, 2019, the Court entered judgment (the “December 2019 Judgment”) against the Company in the amount of $49.3 million , and against ViaSat in the amount of $1 . On January 17, 2020, the Court awarded ViaSat an additional $0.1 million in costs. On December 20, 2019, the Company filed a notice of appeal of the December 2019 Judgment, and ViaSat filed a notice of cross-appeal on December 26, 2019. The parties’ respective appeals are pending and briefs have not yet been submitted. As of March 31, 2020 , the Company has accrued a total of $20.0 million in litigation and settlement-related accruals. The amount of such accruals is based upon currently available information and is subject to significant judgment and a variety of assumptions and known and unknown uncertainties, which may change quickly and significantly from time to time. As a result, actual losses could significantly exceed the amount of such accruals, and no conclusion as to the Company’s ultimate exposure from these proceedings should be drawn from such accruals. In view of the numerous legal, technical and factual issues involved in this lawsuit, the Company is not able to provide an estimate of the likely outcome or range of outcomes, if any, at this time. On November 6, 2019, ViaSat, Inc. filed a second lawsuit in California Superior Court, County of San Diego, North County Division, 37-2019-00060731, D.I. 01, against the Company alleging breach of contract, breach of the implied covenant of good faith and fair dealing, and misappropriation of trade secrets. ViaSat’s complaint relies on the verdict in the first lawsuit, seeks damages on sales of the Company’s products after December 31, 2018, and its claims for relief include preliminary and permanent injunctive relief prohibiting sales of the Company’s products alleged by ViaSat to misappropriate its trade secrets. On January 17, 2020, the Company responded to ViaSat’s second lawsuit with a general denial and moved to stay the case. On February 28, 2020, the court issued an order granting the Company’s motion to stay the case pending outcome of the appeal in the first lawsuit. In view of the numerous legal, technical and factual issues involved in this lawsuit, the Company is not able to provide an estimate of the likely outcome or range of outcomes, if any, at this time. On July 28, 2017, the Company filed a lawsuit in the Commonwealth of Massachusetts Superior Court - Business Litigation Session against ViaSat asserting commercial disparagement, libel, slander of title, unfair competition, intentional interference with advantageous relations and intentional interference with contractual relations. On April 5, 2018, ViaSat responded to the Company’s action and alleged counterclaims including, among other things, breach of contract, breach of the implied covenant of good faith and fair dealing, misappropriation of trade secrets, and unfair competition. On December 13, 2018, the Massachusetts court entered an order staying the Massachusetts litigation pending resolution of the first California state court action discussed above. On December 12, 2019, the Massachusetts court entered an order continuing the stay of the Massachusetts litigation to and including July 10, 2020. The litigation matters described above are referred to collectively as the ViaSat litigation. In August 2019, two shareholder lawsuits and two putative class action lawsuits were filed against the Company and each of the Company’s directors in connection with the proposed Merger, which lawsuits included Jiang v. Acacia Communications, Inc., et al., Civil Action No. 1:19-cv-07267 (the “Jiang lawsuit”), O’Brien v. Acacia Communications, Inc., et al., Civil Action No. 1:19-cv-01463 (the “O’Brien lawsuit”), Rosenblatt v. Acacia Communications, Inc., et al., Civil Action No. 1:19-cv-01470 (the “Rosenblatt lawsuit”), and Mac v. Acacia Communications, Inc., et al., Civil Action No. 1:19-cv-11706 (the “Mac lawsuit”). On August 27, 2019, the Company and the plaintiffs in the O’Brien, Rosenblatt and Mac lawsuits entered into a memorandum of understanding in which these plaintiffs agreed to dismiss with prejudice their individual claims and to dismiss without prejudice the class claims asserted in those actions, in return for the Company’s agreement to make the supplemental disclosures set forth under the heading “Supplement to Proxy Statement” in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 27, 2019 (the “Supplemental Disclosures”). On August 28, 2019, the Company and the plaintiff in the remaining Jiang lawsuit entered into a memorandum of understanding in which the plaintiff would dismiss with prejudice his claims asserted in that action, in return for the Company’s agreement to make the Supplemental Disclosures. Pursuant to the memoranda of understanding, the plaintiffs in all four actions filed notices of voluntary dismissal on September 11, 2019. Pursuant to the memoranda of understanding, the plaintiffs in these four actions and their counsel reserved their right to file applications seeking attorney’s fees and expenses based upon the purported benefit they believe was conferred upon the Company’s stockholders by causing the Supplemental Disclosures to be disseminated. In February 2020, the parties resolved the fee claim and no fee applications will be necessary. The Company intends to continue to engage in a vigorous defense and pursuit of Company-favorable judgments of the ongoing litigation matters described above. The ultimate resolution of these proceedings may have a material adverse effect on the Company’s results of operations and cash flows, potentially in the near term. In addition, the timing of the final resolution of these proceedings is uncertain. The Company will continue to incur litigation and other expenses as a result of these proceedings, which could have a material impact on the Company’s business, consolidated financial position, results of operations and cash flows. In addition, from time to time the Company may become involved in legal proceedings or be subject to claims arising in the ordinary course of the Company’s 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 the Company’s business or on the Company’s consolidated financial position, results of operations 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 resources and other factors. Surety Bond On December 20, 2019, the Company filed a Notice of Appeal to appeal the final judgment issued by the California Superior Court in the ViaSat litigation. In order to stay the execution of the final judgment pending its appeal, the Company filed a surety bond in the amount of $75.0 million as provided by California Code of Civil Procedure Sec. 917.1. The bond is issued by the Philadelphia Indemnity Insurance Company (“Philadelphia Indemnity”). In support of the bond, the Company entered into an indemnity agreement with Philadelphia Indemnity to indemnify it from any liability or loss under the bond. The indemnity agreement does not require collateral to be posted at the time of the issuance of the bond. However, Philadelphia Indemnity may on demand require deposit of an amount sufficient to fund any liability or loss. For additional information, see the discussion regarding the ViaSat litigation under “Legal Contingencies” above. Indemnification In the ordinary course of business, the Company enters into various agreements containing standard indemnification provisions. The Company’s indemnification obligations under such provisions are typically in effect from the date of execution of the applicable agreement through the end of the applicable statute of limitations. During the three months ended March 31, 2020 and 2019 , the Company incurred an immaterial amount of expenses related to these indemnification obligations. Currently, the Company does not anticipate significant claims related to these indemnification obligations, and consequently, has concluded that the fair value of these obligations is not material. Accordingly, as of March 31, 2020 and December 31, 2019 , no material amounts have been accrued related to such indemnification provisions.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is subject to income tax in the United States as well as other tax jurisdictions in which it conducts business. Earnings from non-U.S. activities are subject to local country income tax. As a result of the concept of “deemed distributions” under the U.S. Tax Cuts and Jobs Act, the impact of global intangible low-tax income (“GILTI”) on the Company’s future foreign earnings, and lack of certain foreign governments’ withholding tax imposed on dividends, the Company no longer takes the position that most of its foreign earnings are permanently reinvested. For certain foreign operating subsidiaries, the Company continues to take the position that earnings are permanently reinvested. The Company’s tax provision for interim periods has historically been determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, the Company makes a cumulative adjustment in that quarter. The Company’s quarterly tax (benefit) provision, and its quarterly estimate of its annual effective tax rate, are subject to significant volatility due to several factors, including the Company’s ability to accurately predict its pre-tax income and loss in multiple jurisdictions, as well as the portions of stock-based compensation that will either not generate tax benefits or the tax benefit is unpredictable and reflected when realized by employees. For the three months ended March 31, 2020 , the Company recorded a benefit from income taxes of $0.6 million as compared to $1.5 million for the three months ended March 31, 2019 , resulting in an effective tax rate of (3.8)% and (26.9)% for the three months ended March 31, 2020 and 2019 , respectively. The benefits from income taxes recorded in the three months ended March 31, 2020 and 2019 were primarily a result of the recognition of excess tax benefits from the taxable compensation on share-based awards recognized in the respective periods, as well as federal and state research and development credits. The Company’s historical (benefit) provision for income taxes is not necessarily reflective of its future tax provisions or results of operations. In the normal course of business, the Company is potentially subject to examination by tax authorities throughout the United States and other foreign jurisdictions in which the Company operates. All tax years since inception remain open to examination by the Internal Revenue Service (“IRS”) or state tax authorities, as carryforward attributes generated in prior period tax years may still be adjusted upon examination if they have or will be used in a future period. The Company also files foreign tax returns in the foreign jurisdictions in which it operates when required. The Company is currently being audited by the IRS for tax years 2014 through 2017, the state of New Jersey for tax years 2015 through 2017 and the state of Massachusetts for tax years 2016 through 2018. There are currently no foreign examinations in process. As of March 31, 2020 and December 31, 2019 , the Company identified $7.2 million and $6.8 million , respectively, of gross uncertain tax positions. Included in those balances as of March 31, 2020 and December 31, 2019 are $3.7 million and $3.6 million , respectively, of tax benefits that, if recognized, would impact the effective tax rate. These have been accrued for as long-term liabilities on the Company’s condensed consolidated balance sheets. The Company’s existing tax positions are expected to continue to generate an increase in unrecognized tax benefits in subsequent periods. The Company’s policy is to record interest and penalties related to unrecognized tax benefits as income tax expense. During the three and three months ended March 31, 2020 and 2019 , the amounts recorded related to interest and penalties were immaterial in each period. On July 27, 2015, in Altera Corp. v. Commissioner, the U.S. Tax Court issued an opinion invalidating the regulations relating to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement. A final decision was issued by the Tax Court in December 2015. The IRS appealed the decision in June 2016. On July 24, 2018, the Ninth Circuit Court of Appeals issued a decision that was subsequently withdrawn and a reconstituted panel conferred on the appeal. On June 7, 2019, the Court of Appeals reversed the 2015 decision of the Tax Court and upheld the cost-sharing regulations. On July 22, 2019, Altera petitioned for a rehearing with the Court of Appeals, and on November 12, 2019, the court denied that petition. On February 10, 2020, Altera filed a petition asking the United States Supreme Court to review the decision of the Court of Appeals. Due to the uncertainty surrounding the status of the current regulations and questions related to jurisdiction, the Company has determined no adjustment is required to the consolidated financial statements as a result of this ruling. As of March 31, 2020 , the Company has maintained its position which is consistent with the U.S. Tax Court decision in favor of Altera. The Company estimates that the potential impact of a final adverse decision could be as much as $6.3 million on a financial statement basis for prior years’ taxes. The Company will continue to monitor ongoing developments and potential impacts to its consolidated financial statements. On March 27, 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide certain relief as a result of the global spread of the novel coronavirus, severe acute respiratory syndrome coronavirus 2 (“SARS-CoV-2”), and the coronavirus disease, COVID-19. The Company is currently evaluating how provisions in the CARES Act could impact the Company’s income tax obligations, if at all, or its financial position, results of operations and cash flows.

SEGMENT INFORMATION AND GEOGRAP

SEGMENT INFORMATION AND GEOGRAPHIC DATA	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION AND GEOGRAPHIC DATA	SEGMENT INFORMATION AND GEOGRAPHIC DATA The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s president and chief executive officer, in deciding how to allocate resources and assess performance. The CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the condensed consolidated financial statements. Revenue by country, based on ship-to destinations, which in certain instances may be the location of a contract manufacturer rather than the Company’s end customer, was as follows (in thousands): Three Months Ended March 31, 2020 2019 United States $ 27,201 $ 12,340 China 28,873 42,887 Germany 6,365 10,833 Thailand 22,096 23,681 Malaysia 13,027 2,384 Other 28,064 13,091 Total revenue $ 125,626 $ 105,216 Certain prior period amounts have been reclassified to conform to the current period presentation. Specifically, for the three months ended March 31, 2019, $2.4 million of Malaysia revenue was included within “Other” and has now been reclassified to be presented on a separate line in conformity with the current period presentation. Total long-lived assets by country consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 United States $ 18,194 $ 18,325 Thailand 3,550 3,870 China 1,828 1,949 Other 2,855 2,657 Total long-lived assets $ 26,427 $ 26,801

CONCENTRATIONS OF RISK

CONCENTRATIONS OF RISK	3 Months Ended
	Mar. 31, 2020
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF RISK	CONCENTRATIONS OF RISK Customer Concentration Customers with revenue equal to or greater than 10% of total revenue for the three months ended March 31, 2020 and 2019 were as follows: Three Months Ended March 31, 2020 2019 A 20 % 31 % B * 10 % C 29 % 10 % E 15 % 18 % * Less than 10% of revenue in the period indicated Customers, which include their authorized contract manufacturers, that accounted for equal to or greater than 10% of accounts receivable at March 31, 2020 and December 31, 2019 were as follows: March 31, 2020 December 31, 2019 A 30 % 28 % B 10 % 16 % C 20 % * G * 10 % * Less than 10% of accounts receivable at the date indicated Supplier Concentration The Company’s most significant vendor spending is related to purchases from contract manufacturers and component suppliers located in China and Thailand, from which the Company purchases a substantial portion of its inventory. For the three months ended March 31, 2020 and 2019 , total purchases from each of the suppliers were as follows: Three Months Ended March 31, 2020 2019 X 13 % 18 % Y 53 % 56 % The Company also outsources certain engineering projects to vendors located throughout the world. Total research and development costs incurred with one vendor, not listed above, were less than 10% during the three months ended March 31, 2020 and 15% during the three months ended March 31, 2019 .

RELATED PARTIES

RELATED PARTIES	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES One of the members of the Company’s board of directors, Vincent Roche, is also the President and Chief Executive Officer and a member of the board of directors of Analog Devices, Inc. (“ADI”). The Company, through its contract manufacturers, periodically purchases supplies from ADI pursuant to purchase orders negotiated on an arm’s length basis between ADI and the Company’s contract manufacturers at prevailing prices. These purchased supplies are used as content in certain of the Company’s manufactured products. Based on shipments during the respective periods, the Company’s contract manufacturers made purchases from ADI of approximately $1.3 million and $0.9 million during the three months ended March 31, 2020 and 2019 , respectively. In 2018, the Company entered into a product development agreement with ADI related to the development of integrated circuits for $1.5 million , of which no costs were incurred during the three months ended March 31, 2020 and $0.3 million of costs were incurred during the three months ended March 31, 2019

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSAn outbreak of SARS-CoV-2, and the coronavirus disease, COVID-19, was identified in China in late 2019 and has globally spread throughout other areas such as Asia, Europe, the Middle East and North America. The Centers for Disease Control and Prevention has recognized this outbreak as a pandemic which has resulted in authorities imposing, and businesses and individuals implementing, numerous unprecedented measures to try to contain the virus, such as travel bans and restrictions, quarantines, shelter-in-place/stay-at-home and social distancing orders and shutdowns. These measures have impacted and may further impact the Company’s workforce and operations, the operations of the Company’s customers, and those of the Company’s and its customers respective vendors, suppliers and partners. While the pandemic and these measures did not have a significant impact on the Company’s financial results for the three month period ended March 31, 2020, the extent to which the COVID-19 pandemic could impact the Company’s going forward results of operations will depend on future developments that are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of the virus and the actions to contain its impact and the duration of the pandemic and related responsive measures. The Company is in the process of monitoring and assessing the effect of the COVID-19 pandemic.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 is intended to provide more decision-useful information about expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The main provisions include presenting financial assets measured at amortized cost at the amount expected to be collected, which is net of an allowance for expected credit losses, and recording credit losses related to available-for-sale securities through an allowance for credit losses. On January 1, 2020, the Company adopted ASU 2016-13 using the modified retrospective approach. There was no impact from the adoption of ASU 2016-13 on the Company’s condensed consolidated financial statements. The Company is exposed to credit losses through sales of its products. The Company determines if there is an expected loss on its accounts receivables using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. The Company has not recorded any allowance for credit losses as of March 31, 2020 or December 31, 2019 . Refer to Note 4 for information regarding how the Company assesses credit losses on its available-for-sale debt securities. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 is intended to simplify the accounting for income taxes by, among other things, eliminating certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. Upon adoption, ASU 2019-12 will require companies to apply certain aspects of this standard retrospectively for all periods presented, while requiring other aspects to be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this new standard on its condensed consolidated financial statements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Deferred Revenue and Accounts Receivable	The opening and closing balances of the Company’s accounts receivable and deferred revenue for the three months ended March 31, 2020 are as follows (in thousands): Balance at Beginning of Period Decrease Balance at End of Period Three Months Ended March 31, 2020 Accounts receivable $ 97,948 (1,122 ) $ 96,826 Deferred revenue (current) $ 4,483 (987 ) $ 3,496 Deferred revenue (non-current) $ 3,444 (1,167 ) $ 2,277
Schedule of Disaggregation of Revenue	The following table provides information about disaggregated revenue based on product group (in thousands). Further disaggregation of revenue by geographic country can be found in Note 14. Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Revenue ($) Revenue (%) Revenue ($) Revenue (%) Embedded modules $ 21,769 17 % $ 17,426 16 % Pluggable modules 58,658 47 % 55,517 53 % Semiconductors 45,199 36 % 32,273 31 % Total revenue $ 125,626 100 % $ 105,216 100 %

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash, Cash Equivalents and Short- and Long-term Marketable Securities	The following tables set forth the Company’s cash, cash equivalents and short- and long-term marketable securities as of March 31, 2020 and December 31, 2019 (in thousands): As of March 31, 2020 Gross Unrealized Amortized Cost Gains Losses (1) Estimated Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 69,070 $ — $ — $ 69,070 $ 69,070 $ — Money market funds 16,429 — — 16,429 16,429 — U.S. treasury bonds 99,264 635 — 99,899 — 99,899 Commercial paper 32,040 5 — 32,045 — 32,045 Certificates of deposit 22,841 27 (144 ) 22,724 22,724 Asset-backed securities 67,825 44 (87 ) 67,782 — 67,782 Corporate debt securities 183,081 183 (972 ) 182,292 511 181,781 Total $ 490,550 $ 894 $ (1,203 ) $ 490,241 $ 86,010 $ 404,231 (1) Losses represent marketable securities that were in loss positions for less than one year. As of December 31, 2019 Gross Unrealized Gains Losses (1) Cash $ 29,116 $ — $ — $ 29,116 $ 29,116 $ — Money market funds 2,010 — — 2,010 2,010 — U.S. treasury bonds 116,710 126 (1 ) 116,835 — 116,835 Commercial paper 44,300 — — 44,300 5,491 38,809 Certificates of deposit 24,522 19 (2 ) 24,539 — 24,539 Asset-backed securities 73,370 134 (5 ) 73,499 — 73,499 Corporate debt securities 180,607 475 (3 ) 181,079 — 181,079 Total $ 470,635 $ 754 $ (11 ) $ 471,378 $ 36,617 $ 434,761 (1) Losses represent marketable securities that were in loss positions for less than one year.
Proceeds from Sales and Maturities of Marketable Securities	The proceeds from the sales and maturities of marketable securities, which were primarily reinvested and resulted in realized gains and losses, were as follows (in thousands): Three Months Ended March 31, 2020 2019 Proceeds from the sales and maturities of marketable securities $ 111,701 $ 90,290 Realized gains $ 64 $ 3 Realized losses $ — $ (2 )
Contractual Maturities of Short-term and Long-Term Marketable Securities Held	The contractual maturities of short-term and long-term marketable securities held at March 31, 2020 and December 31, 2019 are as follows (in thousands): As of March 31, 2020 As of December 31, 2019 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value Due within one year $ 281,658 $ 281,686 $ 299,725 $ 300,129 Due after one year through four years 122,880 122,545 134,292 134,632 Total $ 404,538 $ 404,231 $ 434,017 $ 434,761

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Raw materials $ 20,909 $ 24,777 Work-in-process 307 673 Finished goods 15,084 15,370 Inventory $ 36,300 $ 40,820

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Engineering laboratory equipment $ 59,066 $ 58,320 Computer software 3,780 3,730 Computer equipment 8,513 7,837 Furniture and fixtures 3,641 3,641 Leasehold improvements 4,104 3,999 Construction in progress 3,168 2,449 Total property and equipment 82,272 79,976 Less: Accumulated depreciation (55,845 ) (53,175 ) Property and equipment, net $ 26,427 $ 26,801

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 Employee-related liabilities $ 9,227 $ 10,816 Current maturities of operating leases 4,269 4,228 Goods and services received not invoiced 3,906 2,297 Accrued manufacturing related expenses 3,731 3,781 Warranty reserve 9,835 10,354 Litigation and settlement accrual 20,000 20,000 Other accrued liabilities 7,556 10,204 Accrued liabilities $ 58,524 $ 61,680

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Lessee, Operating Leases	The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheet as of March 31, 2020 (in thousands): Classification on the Balance Sheet March 31, 2020 Assets Operating lease assets Operating lease right-of-use assets $ 30,097 Liabilities Current - operating Accrued liabilities 4,269 Noncurrent - operating Noncurrent operating lease liabilities 19,710 Total lease liabilities $ 23,979 Weighted-average remaining lease term - operating leases 6.6 years Weighted-average discount rate - operating leases 4.25 %
Schedule of Maturities of Operating Lease Liabilities	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2020 (in thousands): Operating Leases Remaining 2020 $ 3,248 2021 4,375 2022 4,261 2023 4,414 2024 4,436 Thereafter 6,698 Total minimum lease payments 27,432 Less: amount of lease payments representing interest (3,453 ) Present value of future minimum lease payments 23,979 Less: current obligation under leases 4,269 Long-term lease obligations $ 19,710

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The fair value of these assets measured on a recurring basis was determined using the following inputs as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets: Money market funds $ — $ 16,429 $ — $ 16,429 U.S. treasury bonds — 99,899 — 99,899 Commercial paper — 32,045 — 32,045 Certificates of deposit — 22,724 — 22,724 Asset-backed securities — 67,782 — 67,782 Corporate debt securities — 182,292 — 182,292 Total $ — $ 421,171 $ — $ 421,171 December 31, 2019 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets: Money market funds $ — $ 2,010 $ — $ 2,010 U.S. treasury bonds — 116,835 — 116,835 Commercial paper — 44,300 — 44,300 Certificates of deposit — 24,539 — 24,539 Asset-backed securities — 73,499 — 73,499 Corporate debt securities — 181,079 — 181,079 Total $ — $ 442,262 $ — $ 442,262

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Classification of Stock-based Compensation	The following table summarizes the classification of stock-based compensation in the condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenue $ 522 $ 520 Research and development 5,985 4,746 Sales, general and administrative 2,877 2,742 Total stock-based compensation $ 9,384 $ 8,008
Schedule of Stock-Based Compensation Expense by Award Type	The following table summarizes stock-based compensation expense by award type for the three months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Stock options $ 302 $ 577 Restricted stock units 8,961 7,081 Employee stock purchase plan — 309 Other awards 121 41 Total stock-based compensation $ 9,384 $ 8,008
Schedule of Stock Option Activity	A summary of stock option activity under the Company’s equity incentive plans for the three months ended March 31, 2020 is as follows: Number of Options (in thousands) Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2019 715 $ 11.14 4.6 $ 41,036 Granted — $ — Exercised (36 ) $ 9.03 $ 2,124 Canceled — $ — Outstanding at March 31, 2020 679 $ 11.25 4.3 $ 38,505 Vested and expected to vest at: March 31, 2020 679 $ 11.25 4.3 $ 38,505 December 31, 2019 715 $ 11.14 4.6 $ 41,036 Exercisable at: March 31, 2020 661 $ 10.51 4.2 $ 37,910 December 31, 2019 671 $ 9.99 4.4 $ 39,212
Schedule of Summary of Changes in Company's RSU	A summary of the changes in the Company’s RSUs during the three months ended March 31, 2020 is as follows: RSUs (in thousands) Weighted-Average Grant Date Fair Value Outstanding at December 31, 2019 1,951 $ 48.69 Granted 103 $ 68.35 Vested (255 ) $ 42.35 Canceled (2 ) $ 52.98 Outstanding at March 31, 2020 1,797 $ 50.70

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net (Loss) Income Per Share	The following table sets forth the computation of the Company’s basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Numerator: Net income $ 15,644 $ 6,977 Denominator: Weighted-average shares used to compute net income per share - basic 41,575 40,284 Dilutive effect of stock options, unvested restricted stock units and employee stock purchase plan 1,467 1,678 Weighted-average shares used to compute net income per share - diluted 43,042 41,962 Net income per share Basic $ 0.38 $ 0.17 Diluted $ 0.36 $ 0.17
Summary of Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) Per Share	The following common stock equivalents (in thousands) were excluded from the computation of diluted net income per share for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2020 2019 Options to purchase common stock 21 49 Unvested restricted stock units 9 176

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Product Warrant Liability	Changes in the Company’s warranty liability, which is included as a component of accrued liabilities on the condensed consolidated balance sheets, are set forth in the table below (in thousands): Three Months Ended March 31, 2020 2019 Warranty reserve, beginning of period $ 10,354 $ 8,220 Provisions made to warranty reserve during the period 1,847 5,026 Charges against warranty reserve during the period (2,366 ) (3,729 ) Warranty reserve, end of period $ 9,835 $ 9,517

SEGMENT INFORMATION AND GEOGR_2

SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Summary of Revenue by Country	Revenue by country, based on ship-to destinations, which in certain instances may be the location of a contract manufacturer rather than the Company’s end customer, was as follows (in thousands): Three Months Ended March 31, 2020 2019 United States $ 27,201 $ 12,340 China 28,873 42,887 Germany 6,365 10,833 Thailand 22,096 23,681 Malaysia 13,027 2,384 Other 28,064 13,091 Total revenue $ 125,626 $ 105,216
Summary of Total Long-Lived Assets by Country	Total long-lived assets by country consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands): March 31, 2020 December 31, 2019 United States $ 18,194 $ 18,325 Thailand 3,550 3,870 China 1,828 1,949 Other 2,855 2,657 Total long-lived assets $ 26,427 $ 26,801

CONCENTRATIONS OF RISK (Tables)

CONCENTRATIONS OF RISK (Tables)	3 Months Ended
	Mar. 31, 2020
Risks and Uncertainties [Abstract]
Summary of Concentrations of Risk	Customers with revenue equal to or greater than 10% of total revenue for the three months ended March 31, 2020 and 2019 were as follows: Three Months Ended March 31, 2020 2019 A 20 % 31 % B * 10 % C 29 % 10 % E 15 % 18 % * Less than 10% of revenue in the period indicated Customers, which include their authorized contract manufacturers, that accounted for equal to or greater than 10% of accounts receivable at March 31, 2020 and December 31, 2019 were as follows: March 31, 2020 December 31, 2019 A 30 % 28 % B 10 % 16 % C 20 % * G * 10 % * Less than 10% of accounts receivable at the date indicated March 31, 2020 and 2019 , total purchases from each of the suppliers were as follows: Three Months Ended March 31, 2020 2019 X 13 % 18 % Y 53 % 56 %

NATURE OF THE BUSINESS AND OP_2

NATURE OF THE BUSINESS AND OPERATIONS - (Details) $ / shares in Units, $ in Millions	Jul. 08, 2019$ / shares	Mar. 31, 2020USD ($)GB
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Optical interconnect modules transmission speed		400
Business combination, conversion of stock (in USD per share) | $ / shares	$ 70
Minimum
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Optical interconnect modules transmission speed		100
Maximum
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Optical interconnect modules transmission speed		1,200
Sales, general and administrative
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Business combination, acquisition related costs | $		$ 0.9

REVENUE - Deferred Revenue and

REVENUE - Deferred Revenue and Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 96,826		$ 97,948
Deferred revenue (current)	3,496		4,483
Deferred revenue (non-current)	2,277		$ 3,444
Decrease, accounts receivable	(1,122)	$ (7,440)
Decrease, deferred revenue (current)	(987)
Decrease, deferred revenue (non-current)	$ (1,167)

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 2,300,000
Capitalized contracts	$ 0

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 125,626	$ 105,216
Revenue (%)	100.00%	100.00%
Embedded modules
Disaggregation of Revenue [Line Items]
Revenue	$ 21,769	$ 17,426
Revenue (%)	17.00%	16.00%
Pluggable modules
Disaggregation of Revenue [Line Items]
Revenue	$ 58,658	$ 55,517
Revenue (%)	47.00%	53.00%
Semiconductors
Disaggregation of Revenue [Line Items]
Revenue	$ 45,199	$ 32,273
Revenue (%)	36.00%	31.00%

FINANCIAL INSTRUMENTS - Schedul

FINANCIAL INSTRUMENTS - Schedule of Cash, Cash Equivalents and Short- and Long-term Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	$ 490,550	$ 470,635
Gross Unrealized Gains	894	754
Gross Unrealized Losses Less than One Year	(1,203)	(11)
Estimated Fair Value	490,241	471,378
Cash and Cash Equivalents	86,010	36,617
Marketable Securities	404,231	434,761
U.S. treasury bonds
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	99,264	116,710
Gross Unrealized Gains	635	126
Gross Unrealized Losses Less than One Year	0	(1)
Estimated Fair Value	99,899	116,835
Cash and Cash Equivalents	0	0
Marketable Securities	99,899	116,835
Commercial paper
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	32,040	44,300
Gross Unrealized Gains	5	0
Gross Unrealized Losses Less than One Year	0	0
Estimated Fair Value	32,045	44,300
Cash and Cash Equivalents	0	5,491
Marketable Securities	32,045	38,809
Certificates of deposit
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	22,841	24,522
Gross Unrealized Gains	27	19
Gross Unrealized Losses Less than One Year	(144)	(2)
Estimated Fair Value	22,724	24,539
Cash and Cash Equivalents		0
Marketable Securities	22,724	24,539
Asset-backed securities
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	67,825	73,370
Gross Unrealized Gains	44	134
Gross Unrealized Losses Less than One Year	(87)	(5)
Estimated Fair Value	67,782	73,499
Cash and Cash Equivalents	0	0
Marketable Securities	67,782	73,499
Corporate debt securities
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	183,081	180,607
Gross Unrealized Gains	183	475
Gross Unrealized Losses Less than One Year	(972)	(3)
Estimated Fair Value	182,292	181,079
Cash and Cash Equivalents	511	0
Marketable Securities	181,781	181,079
Cash
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	69,070	29,116
Estimated Fair Value	69,070	29,116
Cash and Cash Equivalents	69,070	29,116
Marketable Securities	0	0
Money market funds
Schedule Of Cash Cash Equivalents And Marketable Securities [Line Items]
Amortized Cost	16,429	2,010
Estimated Fair Value	16,429	2,010
Cash and Cash Equivalents	16,429	2,010
Marketable Securities	$ 0	$ 0

FINANCIAL INSTRUMENTS - Proceed

FINANCIAL INSTRUMENTS - Proceeds from Sales and Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds from the sales and maturities of marketable securities	$ 111,701	$ 90,290
Realized gains	64	3
Realized losses	$ 0	$ (2)

FINANCIAL INSTRUMENTS - Contrac

FINANCIAL INSTRUMENTS - Contractual Maturities of Short-term and Long-term Marketable Securities Held (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Amortized Cost Basis
Due within one year	$ 281,658	$ 299,725
Due after one year through four years	122,880	134,292
Amortized Cost Basis	404,538	434,017
Aggregate Fair Value
Due within one year	281,686	300,129
Due after one year through four years	122,545	134,632
Aggregate Fair Value	$ 404,231	$ 434,761

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 20,909	$ 24,777
Work-in-process	307	673
Finished goods	15,084	15,370
Inventory	$ 36,300	$ 40,820

PROPERTY AND EQUIPMENT - Schedu

PROPERTY AND EQUIPMENT - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 82,272	$ 79,976
Less: Accumulated depreciation	(55,845)	(53,175)
Property and equipment, net	26,427	26,801
Engineering laboratory equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	59,066	58,320
Computer software
Property, Plant and Equipment [Line Items]
Total property and equipment	3,780	3,730
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	8,513	7,837
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	3,641	3,641
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	4,104	3,999
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,168	$ 2,449

PROPERTY AND EQUIPMENT - Narrat

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,670	$ 3,243

ACCRUED LIABILITIES - Schedule

ACCRUED LIABILITIES - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Employee-related liabilities	$ 9,227	$ 10,816
Current maturities of operating leases	4,269	4,228
Goods and services received not invoiced	3,906	2,297
Accrued manufacturing related expenses	3,731	3,781
Warranty reserve	9,835	10,354	$ 9,517	$ 8,220
Litigation and settlement accrual	20,000	20,000
Other accrued liabilities	7,556	10,204
Accrued liabilities	$ 58,524	$ 61,680

LEASES - Balance Sheet Classifi

LEASES - Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 30,097	$ 25,046
Operating lease, liability, current	4,269	4,228
Noncurrent operating lease liabilities	19,710	$ 15,726
Total lease liabilities	$ 23,979
Weighted-average remaining lease term - operating leases	6 years 7 months 6 days
Weighted-average discount rate - operating leases	4.25%

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 1,500	$ 1,200
Lease liabilities	1,100	$ 1,000
Lease committed to expend	$ 23,979
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Renewal term	3 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	8 years
Renewal term	5 years
Leasehold improvements
Lessee, Lease, Description [Line Items]
Lease committed to expend	$ 1,400

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Leases Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating Leases, After Adoption of 842
Remaining 2020	$ 3,248
2021	4,375
2022	4,261
2023	4,414
2024	4,436
Thereafter	6,698
Total minimum lease payments	27,432
Less: amount of lease payments representing interest	(3,453)
Total lease liabilities	23,979
Operating lease, liability, current	4,269	$ 4,228
Non-current operating lease liabilities	$ 19,710	$ 15,726

FAIR VALUE MEASUREMENT - Summar

FAIR VALUE MEASUREMENT - Summary of Assets And Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 421,171	$ 442,262
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	421,171	442,262
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	99,899	116,835
U.S. treasury bonds | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
U.S. treasury bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	99,899	116,835
U.S. treasury bonds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	32,045	44,300
Commercial paper | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Commercial paper | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	32,045	44,300
Commercial paper | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	22,724	24,539
Certificates of deposit | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Certificates of deposit | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	22,724	24,539
Certificates of deposit | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	67,782	73,499
Asset-backed securities | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Asset-backed securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	67,782	73,499
Asset-backed securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	182,292	181,079
Corporate debt securities | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Corporate debt securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	182,292	181,079
Corporate debt securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	16,429	2,010
Money market funds | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	16,429	2,010
Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0

FAIR VALUE MEASUREMENT - Narrat

FAIR VALUE MEASUREMENT - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Transfers between fair value measurement levels	$ 0	$ 0

STOCK COMPENSATION PLANS - Clas

STOCK COMPENSATION PLANS - Classification of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 9,384	$ 8,008
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	522	520
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	5,985	4,746
Sales, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 2,877	$ 2,742

STOCK COMPENSATION PLANS - Sche

STOCK COMPENSATION PLANS - Schedule of Stock-Based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 9,384	$ 8,008
Employee stock purchase plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	0	309
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	302	577
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	8,961	7,081
Other awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 121	$ 41

STOCK COMPENSATION PLANS - Stoc

STOCK COMPENSATION PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Number of Options, Abstract
Number of options outstanding at beginning of period (in shares)	715
Number of options granted (in shares)	0
Number of options exercised (in shares)	(36)
Number of options cancelled (in shares)	0
Number of options outstanding at end of period (in shares)	679	715
Number of options vested and expected to vest (in shares)	679	715
Number of options exercisable (in shares)	661	671
Weighted-Average Exercise Price, Abstract
Weighted-average exercise price outstanding at beginning of period (in USD per share)	$ 11.14
Options granted, Weighted-average exercise price (in USD per share)	0
Options exercised, Weighted-average exercise price (in USD per share)	9.03
Options cancelled, Weighted-average exercise price (in USD per share)	0
Weighted-average exercise price outstanding at end of period (in USD per share)	11.25	$ 11.14
Options vested and expected to vest, Weighted-average exercise price (in USD per share)	11.25	11.14
Options exercisable, Weighted-average exercise price (in USD per share)	$ 10.51	$ 9.99
Weighted-Average Remaining Contract Term, Abstract
Options outstanding, Weighted-average remaining contractual term	4 years 3 months 18 days	4 years 7 months 6 days
Options vested and expected to vest, Weighted-average remaining contractual term	4 years 3 months 18 days	4 years 7 months 6 days
Options exercisable, Weighted-average remaining contractual term	4 years 2 months 12 days	4 years 4 months 24 days
Aggregate Intrinsic Value, Abstract
Options outstanding, Aggregate intrinsic value at beginning of period	$ 41,036
Options exercised, Aggregate intrinsic value	2,124
Options outstanding, Aggregate intrinsic value at end of period	38,505	$ 41,036
Options vested and expected to vest, Aggregate intrinsic value	38,505	41,036
Options exercisable, Aggregate intrinsic value	$ 37,910	$ 39,212

STOCK COMPENSATION PLANS - Narr

STOCK COMPENSATION PLANS - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted (in shares)	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost, stock options	$ 200,000		$ 500,000
Weighted average recognition period	1 year 1 month 6 days		7 months 6 days
Number of options granted (in shares)	0	0
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average recognition period	2 years		2 years 1 month 6 days
Restricted stock units granted (in shares)	103,000
Vested awards settled in cash	$ 0
Unrecognized stock-based compensation expense	$ 68,000,000		$ 70,100,000
Restricted stock units | Employees and Executives | 2016 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)	103,000
Awards vesting period	4 years

STOCK COMPENSATION PLANS - Chan

STOCK COMPENSATION PLANS - Changes in Company Restricted Stock Units (Details) - Restricted stock units shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Shares outstanding at beginning of period (in shares) | shares	1,951
Granted (in shares) | shares	103
Vested (in shares) | shares	(255)
Cancelled (in shares) | shares	(2)
Shares outstanding at end of period (in shares) | shares	1,797
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Shares outstanding, Weighted-average grant date fair value at beginning of period (in USD per share) | $ / shares	$ 48.69
Granted, Weighted-average grant date fair value (in USD per share) | $ / shares	68.35
Vested, Weighted-average grant date fair value (in USD per share) | $ / shares	42.35
Cancelled, Weighted-average grant date fair value (in USD per share) | $ / shares	52.98
Shares outstanding, Weighted-average grant date fair value at end of period (in USD per share) | $ / shares	$ 50.70

NET INCOME PER SHARE - Computat

NET INCOME PER SHARE - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income	$ 15,644	$ 6,977
Denominator:
Weighted-average shares used to compute net income per share - basic (in shares)	41,575	40,284
Dilutive effect of stock options, unvested restricted stock units and employee stock purchase plan (in shares)	1,467	1,678
Weighted-average shares used to compute net income per share - diluted (in shares)	43,042	41,962
Net income per share
Basic (in USD per share)	$ 0.38	$ 0.17
Diluted (in USD per share)	$ 0.36	$ 0.17

NET INCOME PER SHARE - Summary

NET INCOME PER SHARE - Summary of Common Stock Equivalents Excluded from Computation of Diluted Net Income Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	21	49
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	9	176

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)	Jan. 17, 2020	Jul. 18, 2019	Jul. 17, 2019	Mar. 31, 2020	Dec. 31, 2019	Dec. 20, 2019
Loss Contingencies [Line Items]
Litigation and settlement accrual				$ 20,000,000	$ 20,000,000
Indemnification
Loss Contingencies [Line Items]
Litigation and settlement accrual				$ 0	$ 0
Minimum
Loss Contingencies [Line Items]
Standard warranty period on repair or replacement of defective products				12 months
Maximum
Loss Contingencies [Line Items]
Standard warranty period on repair or replacement of defective products				24 months
Pending Litigation | ViaSat, Inc. U.S. District Court for the Southern District of California
Loss Contingencies [Line Items]
Supersedeas bond, amount						$ 75,000,000
Pending Litigation | ViaSat, Inc. U.S. District Court for the Southern District of California | Breach Of Contract
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 100,000	$ 12,800,000	$ 49,300,000
Litigation settlement, post trail expense, cost-of-proof sanctions		6,200,000
Pending Litigation | ViaSat, Inc. U.S. District Court for the Southern District of California | Trade Secret Misappropriation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party			1
Litigation settlement, amount awarded from other party			$ 1
Pending Litigation | ViaSat, Inc. U.S. District Court for the Southern District of California | Maximum | Breach Of Contract
Loss Contingencies [Line Items]
Litigation settlement, post trial expense		$ 10,000,000
Pending Litigation | ViaSat, Inc. Commonwealth of Massachusetts
Loss Contingencies [Line Items]
Litigation and settlement accrual				$ 20,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Changes in Product Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserve, beginning of period	$ 10,354	$ 8,220
Provisions made to warranty reserve during the period	1,847	5,026
Charges against warranty reserve during the period	(2,366)	(3,729)
Warranty reserve, end of period	$ 9,835	$ 9,517

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Benefit for income taxes	$ (578)	$ (1,481)
Effective income tax rate	(3.80%)	(26.90%)
Uncertain tax positions	$ 7,200		$ 6,800
Unrecognized tax benefits that, if recognized, would favorably impact effective tax rate	3,700		$ 3,600
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Estimate of possible loss	$ 6,300

SEGMENT INFORMATION AND GEOGR_3

SEGMENT INFORMATION AND GEOGRAPHIC DATA - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	1
Segment Reporting Information [Line Items]
Revenue	$ 125,626	$ 105,216
Malaysia
Segment Reporting Information [Line Items]
Revenue	$ 13,027	$ 2,384

SEGMENT INFORMATION AND GEOGR_4

SEGMENT INFORMATION AND GEOGRAPHIC DATA - Summary of Revenue by Country (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 125,626	$ 105,216
United States
Segment Reporting Information [Line Items]
Revenue	27,201	12,340
China
Segment Reporting Information [Line Items]
Revenue	28,873	42,887
Germany
Segment Reporting Information [Line Items]
Revenue	6,365	10,833
Thailand
Segment Reporting Information [Line Items]
Revenue	22,096	23,681
Malaysia
Segment Reporting Information [Line Items]
Revenue	13,027	2,384
Other
Segment Reporting Information [Line Items]
Revenue	$ 28,064	$ 13,091

SEGMENT INFORMATION AND GEOGR_5

SEGMENT INFORMATION AND GEOGRAPHIC DATA - Summary of Total Long-Lived Assets by Country (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total long-lived assets	$ 26,427	$ 26,801
United States
Segment Reporting Information [Line Items]
Total long-lived assets	18,194	18,325
Thailand
Segment Reporting Information [Line Items]
Total long-lived assets	3,550	3,870
China
Segment Reporting Information [Line Items]
Total long-lived assets	1,828	1,949
Other
Segment Reporting Information [Line Items]
Total long-lived assets	$ 2,855	$ 2,657

CONCENTRATIONS OF RISK - Summar

CONCENTRATIONS OF RISK - Summary of Customer Concentration of Total Revenue (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	30.00%		28.00%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%		16.00%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%
Revenue Benchmark | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	31.00%
Revenue Benchmark | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage		10.00%
Revenue Benchmark | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	29.00%	10.00%
Revenue Benchmark | Customer E
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%	18.00%

CONCENTRATIONS OF RISK - Summ_2

CONCENTRATIONS OF RISK - Summary of Customer Concentration of Accounts Receivable (Details) - Customer Concentration Risk - Accounts Receivable	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	30.00%	28.00%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	16.00%
Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%
Customer G
Concentration Risk [Line Items]
Concentration risk, percentage		10.00%

CONCENTRATIONS OF RISK - Summ_3

CONCENTRATIONS OF RISK - Summary of Supplier Concentration (Details) - Supplier Concentration Risk - Purchases	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplier X
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	18.00%
Supplier Y
Concentration Risk [Line Items]
Concentration risk, percentage	53.00%	56.00%

CONCENTRATIONS OF RISK - Narrat

CONCENTRATIONS OF RISK - Narrative (Details)	3 Months Ended
	Mar. 31, 2019
Vendor | Supplier Concentration Risk | Research and development
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%

RELATED PARTIES - Narrative (De

RELATED PARTIES - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
ADI
Related Party Transaction [Line Items]
Purchase from related party	$ 1,300,000	$ 900,000
Product development agreement			$ 1,500,000
Product development agreement costs incurred	$ 0	300,000
M/A-COM
Related Party Transaction [Line Items]
Purchase from related party		$ 0