v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Total revenue $ 88,632 $ 77,499
Amortization of acquired intangible assets 6,475 6,440
Gross profit 73,315 60,088
Operating expenses:    
Selling, general and administrative 27,491 30,405
Research and development 4,396 3,878
Total operating expenses 31,887 34,283
Income from operations 41,428 25,805
Changes in fair values of equity method investments, net (13,549) 35,342
Changes in fair values of equity and long-term investments, net (65,299) (13,335)
Interest and dividend income 4,538 4,399
Interest expense (4,711) (5,851)
Other expense, net (996) (1,236)
Income (loss) before income taxes (38,589) 45,124
Income tax expense, net (7,995) (8,592)
Net income (loss) and comprehensive income (loss) $ (46,584) $ 36,532
Net income (loss) per share:    
Basic $ (0.74) $ 0.58
Diluted $ (0.74) $ 0.46
Shares used to compute net income (loss) per share:    
Basic 62,709 63,185
Diluted 62,709 84,531
Royalty Revenue    
Revenue:    
Total revenue $ 57,807 $ 58,415
Net product sales    
Revenue:    
Total revenue 30,279 19,084
Cost of products sold (inclusive of amortization of inventory fair value adjustments) 8,842 10,971
License and other revenue    
Revenue:    
Total revenue $ 546 $ 0