v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 631,234 $ 398,866
Restricted cash 1,895 141,121
Accounts receivable-net [1] 735,336 755,499
Inventories-net 390,602 337,698
Prepaid expenses and other current assets [2] 67,422 128,806
Deferred other costs-current [3] 49,472 49,164
Total current assets 1,875,961 1,811,154
Property, plant and equipment-net 108,748 87,910
Goodwill 919,660 917,560
Deferred other costs-non-current [3] 746,737 771,635
Deferred tax assets 93,250 96,013
Other long-term assets 44,044 43,434
Total Assets 5,168,151 5,119,621
Current liabilities:    
Accounts payable [4] 202,101 137,930
Accrued expenses [5] 264,558 230,721
Income taxes payable 40,821 49,612
Accrued distributor termination fees 8,761 264,088
Accrued promotional allowance [6] 453,043 307,922
Contingent consideration 0 25,000
Deferred revenue-current [7] 31,460 26,988
Other current liabilities 42,891 36,465
Total current liabilities 1,043,635 1,078,726
Long-term debt 667,850 669,926
Deferred revenue-non-current [3] 463,856 401,155
Other long term liabilities 33,251 28,372
Total Liabilities 2,208,592 2,178,179
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common Stock, $0.001 par value per share; 400,000 shares authorized; 258,703 shares issued and 253,341 shares outstanding as of June 30, 2026; and 258,108 shares issued and 256,906 shares outstanding as of December 31, 2025 101 101
Treasury stock, at cost; 5,362 shares and 1,202 shares as of June 30, 2026 and December 31, 2025, respectively (183,469) (48,226)
Additional paid-in capital 1,069,452 1,050,518
Accumulated other comprehensive income 335 3,162
Retained earnings 313,165 175,912
Total Stockholders’ Equity 1,199,584 1,181,467
Total Liabilities, Mezzanine Equity and Stockholders’ Equity 5,168,151 5,119,621
Series A Convertible Preferred Stock    
Mezzanine equity:    
Series A convertible preferred stock, $0.001 par value per share, 1,467 shares issued and outstanding as of both June 30, 2026 and December 31, 2025 and Series B convertible preferred stock, $0.001 par value per share, 390 shares issued and outstanding as of both June 30, 2026 and December 31, 2025 [3] 852,355 852,355
Series B Convertible Preferred Stock    
Mezzanine equity:    
Series A convertible preferred stock, $0.001 par value per share, 1,467 shares issued and outstanding as of both June 30, 2026 and December 31, 2025 and Series B convertible preferred stock, $0.001 par value per share, 390 shares issued and outstanding as of both June 30, 2026 and December 31, 2025 [3] 907,620 907,620
Customer relationships-net    
Current assets:    
Intangible assets, net (excluding goodwill) 99,529 111,604
Brands-net    
Current assets:    
Intangible assets, net (excluding goodwill) $ 1,280,222 $ 1,280,311
[1] Includes $387.2 million and $349.1 million from a related party as of June 30, 2026 and December 31, 2025, respectively.
[2] Includes no amounts from a related party as of June 30, 2026 and $64.2 million from a related party as of December 31, 2025.
[3] Amounts in this line item are associated with a related party for all periods presented.
[4] Includes $35.8 million and $28.6 million due to a related party as of June 30, 2026 and December 31, 2025, respectively.
[5] Includes $4.0 million and $1.8 million due to a related party as of June 30, 2026 and December 31, 2025, respectively.
[6] Includes $247.6 million and $128.9 million due to a related party as of June 30, 2026 and December 31, 2025, respectively.
[7] Includes $30.7 million and $26.3 million due to a related party as of June 30, 2026 and December 31, 2025, respectively.