v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 326,169 $ 318,731
Accounts receivable, net of allowances of $14,503 and $18,123 37,501 29,013
Inventory 66,364 60,215
Prepaid expenses and other current assets 16,227 62,387
Total current assets 446,261 470,346
Property and equipment, net 1,516 1,422
Intangible assets, net 834,864 847,821
Goodwill 168,300 168,300
Deferred tax assets 0 46
Other assets 9,253 9,552
Total assets 1,460,194 1,497,487
Current Liabilities:    
Accounts payable 29,184 8,117
Accrued expenses and other current liabilities 32,758 85,304
Current portion of Related Party payable pursuant to Tax Receivable Agreement 9,206 9,206
Total current liabilities 71,148 102,627
Long-term debt 352,484 352,290
Deferred tax liabilities 929 5,283
Related Party payable pursuant to Tax Receivable Agreement 155,858 155,858
Other liabilities 1,789 2,039
Total liabilities 582,208 618,097
Commitments and contingencies (Note 12)
Stockholders’ equity (Notes 1 and 10):    
Common stock, $0.001 par value per share; 2,000,000,000 shares authorized, 671,711,593 and 669,076,651 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 672 669
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding 0 0
Additional paid-in capital 346,086 342,345
Accumulated other comprehensive loss (198) (337)
Retained earnings 531,426 536,713
Total stockholders’ equity 877,986 879,390
Total liabilities and stockholders’ equity $ 1,460,194 $ 1,497,487