v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 92,064 $ (13,787)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 900 946
Loss on disposal of property and equipment   85
Share-based compensation expense 6,889 9,815
Non-cash interest expense 808 832
Non-cash lease expense 897 827
Deferred income taxes 34,369 14,775
Changes in operating assets and liabilities:    
Accounts receivable, net (65,987) (4,282)
Prepaid expenses and other current assets 4,581 (471)
Other assets 138 284
Accounts payable and accrued expenses (9,500) (4,174)
Accrued research and development costs 22 (2,664)
Operating lease liabilities (1,256) (1,156)
Other liabilities (528) 3,856
Net cash provided by operating activities 63,397 4,886
Cash flows from investing activities:    
Purchases of property and equipment   (33)
Net cash used in investing activities   (33)
Cash flows from financing activities:    
Proceeds from employee stock purchase plan 303 94
Repayment of 2026 Convertible Notes (200,000)  
Net cash provided by (used in) financing activities (199,697) 94
Effect of exchange rate changes on cash and cash equivalents (29) (654)
Net increase (decrease) in cash and cash equivalents (136,329) 4,293
Cash and cash equivalents, beginning of period 215,456 88,559
Cash and cash equivalents, end of period $ 79,127 $ 92,852