v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 149,802 $ 144,861
Restricted cash 34 33
Accounts receivable, net of $139,655 and $127,824 of adjustments for chargebacks and other allowances at March 31, 2025 and December 31, 2024, respectively 220,334 221,726
Inventories 137,408 136,782
Prepaid expenses and other current assets 23,326 17,975
Investment in equity securities 5,386 6,307
Total Current Assets 536,290 527,684
Non-current Assets    
Property and equipment, net 58,179 56,863
Deferred tax assets, net of deferred tax liabilities and valuation allowance 88,489 85,106
Intangible assets, net 538,495 541,834
Goodwill 60,662 59,990
Derivatives and other non-current assets 10,313 12,220
Total Assets 1,292,428 1,283,697
Current Liabilities    
Current debt, net of deferred financing costs 11,193 9,172
Accounts payable 53,058 45,656
Accrued royalties 23,713 22,626
Accrued compensation and related expenses 22,297 37,725
Accrued government rebates 22,644 18,714
Income taxes payable 14,188 6,749
Returned goods reserve 42,464 39,274
Current contingent consideration 229 29
Accrued expenses and other 12,029 13,735
Total Current Liabilities 201,815 193,680
Non-current Liabilities    
Non-current debt, net of deferred financing costs and current component 305,294 309,108
Non-current convertible notes, net of deferred financing costs 306,335 305,812
Non-current contingent consideration, net of current 17,426 19,825
Accrued licensor payments due 11,068 20,961
Other non-current liabilities 7,020 5,781
Total Liabilities 848,958 855,167
Commitments and Contingencies (Note 15)
Mezzanine Equity    
Convertible Preferred Stock, Series A, $0.0001 par value, 1,666,667 shares authorized; 25,000 shares issued and outstanding at March 31, 2025 and December 31, 2024 24,850 24,850
Stockholders’ Equity    
Common Stock, $0.0001 par value, 33,333,334 shares authorized; 22,254,757 shares issued and 21,661,794 outstanding at March 31, 2025; 21,537,707 shares issued and 21,108,152 shares outstanding at December 31, 2024 2 2
Class C Special Stock, $0.0001 par value, 781,281 shares authorized; 10,864 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 0 0
Preferred Stock, $0.0001 par value, 1,666,667 shares authorized; 0 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 0 0
Treasury stock, 592,963 shares of common stock, at cost, at March 31, 2025 and 429,555 shares of common stock, at cost, at December 31, 2024 (31,043) (21,040)
Additional paid-in capital 531,055 519,653
Accumulated deficit (85,004) (100,279)
Accumulated other comprehensive income, net of tax 3,610 5,344
Total Stockholders’ Equity 418,620 403,680
Total Liabilities, Mezzanine Equity, and Stockholders’ Equity $ 1,292,428 $ 1,283,697