v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income (loss) $ 52,862 $ (38,367)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation 9,217 7,438
Depreciation and amortization 497 451
Non-cash lease expense (409) 55
Accretion and non-cash interest expense 6,494 4,670
Changes in operating assets and liabilities:    
Accounts receivable, net (20,064) 1,472
Inventory (4,565) (1,108)
Prepaid expenses and other current assets (2,780) 815
Other noncurrent assets (4,601) (4,624)
Accounts payable 562 3,418
Accrued expenses and other current liabilities 14,532 (4,818)
Operating lease liabilities 372 (81)
Other noncurrent liabilities 873  
Net cash provided by (used in) operating activities 52,990 (30,679)
Investing activities    
Purchases of property, plant and equipment (2,830) (330)
Net cash used in investing activities (2,830) (330)
Financing activities    
Proceeds from long-term debt, net of fees 0 24,975
Payments on long-term debt (19,969) (2,122)
Principal payments on finance leases 0 (64)
Receipts from litigation financing 163 235
Proceeds from issuance of common stock under stock incentive plans 1,752 1,264
Net cash provided by (used in) financing activities (18,054) 24,288
Net increase (decrease) in cash, cash equivalents, and restricted cash 32,106 (6,721)
Cash, cash equivalents, and restricted cash, beginning of period 194,184 176,479
Cash, cash equivalents, and restricted cash, end of period 226,290 169,758
Supplemental disclosure of cash flow information    
Cash paid for operating lease liabilities 387 341
Non-cash increase in property, plant and equipment through accounts payable 6,586 151
Non-cash increase in indemnification asset through accounts payable $ 155 $ 417