v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net (loss) income $ (555) $ 14,400
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization expense 118,426 110,946
Depreciation expense 2,275 2,226
Deferred income taxes (8,123) (3,453)
Stock-based compensation expense 25,364 22,342
Non-cash lease benefit (175) (60)
Non-cash interest expense for amortization of debt discount and issuance costs 1,901 2,722
Net (amortization) accretion for deferred royalty obligation (206) 2,014
Net amortization of premiums and discounts on investments (223) (588)
Change in fair value of contingent consideration 0 (1,144)
Changes in operating assets and liabilities:    
Accounts receivable (15,305) 15,509
Inventory (2,426) (2,588)
Prepaid expenses and other assets (4,100) (21,120)
Accounts payable (3,510) 6,956
Accrued liabilities 8,123 (12,086)
Accrued rebates, returns and discounts 7,303 (8,239)
Deferred revenue (333) 0
Net cash provided by operating activities 128,436 127,837
Investing activities    
Acquisition of Azstarys (net of cash acquired) (655,403) 0
Purchases of property and equipment (766) (863)
Purchases of marketable securities (20,100) (42,501)
Sales of marketable securities 151,805 0
Maturities of marketable securities 23,500 30,769
Net cash used in investing activities (500,964) (12,595)
Financing activities    
Proceeds from issuances of common stock from employee stock purchase plan 947 506
Proceeds from the exercise of stock options 875 1,860
Payments made for employee stock tax withholdings (16,079) (11,021)
Proceeds from 2025 Credit Facility 299,504 0
Repayment of term notes (14,500) (32,292)
Payments made for deferred purchase price for acquisition 0 (7,555)
Net cash provided by (used in) financing activities 270,747 (73,606)
Net (decrease) increase in cash, cash equivalents and restricted cash (101,781) 41,636
Cash, cash equivalents and restricted cash at beginning of period 252,158 96,612
Cash, cash equivalents and restricted cash at end of period 150,377 138,248
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:    
Cash and cash equivalents 129,467 117,348
Restricted cash 20,910 20,900
Total cash, cash equivalents and restricted cash 150,377 138,248
Supplemental disclosure of cash flow information    
Cash paid for interest 34,435 35,541
Cash paid for income taxes 37,474 32,273
Supplemental disclosure of non-cash activities    
Acquisition of property and equipment included in accrued liabilities 508 124
Business combination consideration payable 12,154 0
Acquisition date fair value of contingent consideration 38,525 0
Note issuance costs in accounts payable and accrued liabilities $ 75 $ 0