v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 129,467 $ 231,252
Marketable securities 0 155,427
Accounts receivable, net 285,102 211,328
Inventory 113,269 40,912
Prepaid expenses and other current assets 60,326 32,642
Restricted cash 19,850 19,850
Total current assets 608,014 691,411
Property and equipment, net 10,653 12,013
Operating lease assets 3,791 4,187
Intangible assets, net 1,186,084 669,510
Restricted cash 1,060 1,056
Deferred tax assets 120,774 112,539
Other noncurrent assets 15,237 20,193
Goodwill 190,177 145,925
Total assets 2,135,790 1,656,834
Current liabilities    
Accounts payable 9,241 10,659
Accrued liabilities 71,250 62,464
Accrued rebates, returns and discounts 406,854 318,266
Current portion of term notes payable 55,000 29,000
Current portion of operating lease liabilities 1,561 1,407
Business combination consideration payable 29,719 17,565
Current portion of contingent consideration 15,569 0
Deferred revenue 667 667
Total current liabilities 589,861 440,028
Term notes payable, net of current portion 797,824 542,112
Convertible senior notes 238,733 238,213
Operating lease liabilities, net of current portion 3,407 4,132
Deferred royalty obligation 121,357 121,563
Deferred revenue, net of current portion 8,778 9,111
Contingent consideration, net of current portion 22,956 0
Deferred tax liabilities 40,965 0
Total liabilities 1,823,881 1,355,159
Commitments and contingencies (refer to Note 17)
Shareholders’ equity:    
Preferred stock, $0.001 par value; authorized shares - 5,000,000 0 0
Common stock, $0.001 par value; authorized shares - 100,000,000; 40,629,601 issued and 31,600,879 outstanding shares as of March 31, 2026 and 39,646,749 issued and 31,440,155 outstanding shares as of December 31, 2024 41 41
Additional paid-in capital 636,062 624,954
Treasury stock, at cost; 9,028,722 shares as of June 30, 2026 and December 31, 2025 (222,510) (222,510)
Accumulated other comprehensive income 0 319
Accumulated deficit (101,684) (101,129)
Total shareholders’ equity 311,909 301,675
Total liabilities and shareholders’ equity $ 2,135,790 $ 1,656,834