v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 35,137 $ 45,653
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 31,638 25,720
Amortization of premiums and accretion of discounts on investment securities (503) (3,652)
Amortization of intangible assets 5,445 5,444
Depreciation 705 442
Deferred Income Taxes 9,679 0
Changes in operating assets and liabilities:    
Accounts receivable, net (29,188) (8,766)
Interest and other receivables 11,080 (6,225)
Inventory 3,975 (14,553)
Prepaid expenses and other current assets (9,843) 2,934
Other assets 346 (1,306)
Operating lease right-of-use assets 4,398 4,259
Accounts payable 33,666 3,905
Accrued liabilities 46,088 21,350
Operating lease liabilities (4,032) (1,418)
Long-term liabilities (3,829) 10,492
Net cash provided by operating activities 134,762 84,279
Cash flows from investing activities    
Purchases of investment securities (108,447) (330,398)
Maturity of investment securities 176,500 262,190
Payment of milestone and contingent payments in connection with asset acquisition 0 (98,838)
Purchases of property and equipment (10,301) (297)
Net cash provided by (used in) investing activities 57,752 (167,343)
Cash flows from financing activities    
Proceeds from issuance of common stock, net of issuance costs 14,725 17,794
Net cash provided by financing activities 14,725 17,794
Effect of exchange rate changes on cash 52 19
Net increase (decrease) in cash, cash equivalents and restricted cash 207,291 (65,251)
Cash, cash equivalents and restricted cash    
Beginning of period 185,540 328,359
End of period 392,831 263,108
Supplemental disclosure of noncash information:    
Accrued inventory purchases 1,152 4,040
Stock based compensation capitalized $ 122 $ 308