v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 35,733 $ 932
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 1,410 1,427
Accretion on marketable securities (453) (802)
Amortization of operating lease right-of-use assets 224 182
Stock-based compensation expense, net 13,478 9,299
Realized gain on investments (1,502) (1,213)
Other, net 614 (238)
Changes in operating assets and liabilities    
Accounts receivable, net 1,486 (4,427)
Inventory (1,395) (2,238)
Prepaid expenses and other current assets (2,976) (212)
Lease liability (136) (199)
Other long-term liabilities 534 0
Accounts payable 906 727
Accrued expenses and other current liabilities 3,695 (5,162)
Accrued rebates 10,601 5,312
Accrued litigation settlement (31,250) 12,500
Net cash provided by operating activities 30,969 15,888
Investing Activities    
Proceeds from disposal of assets 435 0
Purchases of property and equipment (6,204) (1,260)
Purchases of investments (137,806) (88,335)
Maturities of investments 88,806 63,615
Net cash (used in) investing activities (54,769) (25,980)
Financing Activities    
Proceeds from exercise of stock options 1,462 15,969
Net cash (used in) provided by financing activities (12,466) 10,583
Effect of exchange rate changes on cash and cash equivalents 171 187
Net (decrease) increase in cash and cash equivalents (36,095) 678
Cash and cash equivalents at beginning of period 344,865 358,328
Cash and cash equivalents at end of period 308,770 359,006
Supplemental Disclosures of Non-Cash Activities    
Unpaid purchases of property and equipment included in accounts payable and accrued expenses 1,397 8,456
Initial recognition of right-of-use assets 1,802 0
Supplemental Cash Flow Information    
Income taxes paid 400 0
Restricted Stock Units (RSUs)    
Financing Activities    
Taxes paid related to settlement of restricted stock awards (12,116) (4,181)
Restricted Stock    
Financing Activities    
Taxes paid related to settlement of restricted stock awards $ (1,812) $ (1,205)