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) $ 137,764 $ (36,345)
Reconciliation of net income (loss) to net cash used in operating activities:    
Depreciation expense 187 218
Bad debt expense 19 (246)
Amortization of debt discount 1,678 746
Gain on termination of partner company lease   (394)
Amortization of acquired intangible assets 2,095 2,129
Settlement of partner company payables (109) (796)
Reduction in the carrying amount of operating lease right-of-use assets 945 971
Stock-based compensation expense 4,634 23,082
Change in fair value of investment (11,791)  
Change in fair value of partner company derivative liability 7,085  
Change in fair value of partner companies' warrant liabilities (1) 397
Gain from deconsolidation of subsidiary (82) (27,127)
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (6,482) (5,167)
Inventory 1,468 1,579
Other receivables - related party (348) (387)
Prepaid expenses and other current assets 1,014 2,355
Other assets (776) 292
Accounts payable and accrued expenses 2,309 (7,821)
Income taxes payable 4,823 52
Lease liabilities (1,085) (1,125)
Other long-term liabilities 1,227 464
Net cash provided by (used in) operating activities 144,574 (47,123)
Cash Flows from Investing Activities:    
Purchase of property and equipment (79)  
Proceeds from sale of property and equipment   1,165
Net cash increase upon deconsolidation of subsidiary   6,086
Net cash (used in) provided by investing activities (79) 7,251
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock for at-the-market offering, net   1,008
Proceeds from issuance of common stock under ESPP 74 43
Exercise of warrants for cash 1,218 593
Proceeds from partner companies' ESPP 148 99
Partner company's dividends declared and paid   (332)
Exchange of partner company preferred shares (165) (265)
Redemption of partner company preferred shares (14,170)  
Proceeds from partner companies' equity offerings and warrant exercises, net   54,334
Proceeds from partner companies' at-the-market offering, net (141) 6,740
Proceeds from exercise of partner company's options, net 230  
Repayment of Oaktree Note and debt issuance costs (14,494) (4,932)
Repayment of partner company installment payments - licenses   (625)
Net cash provided by (used in) financing activities (27,300) 56,663
Net increase in cash and cash equivalents and restricted cash 117,195 16,791
Cash and cash equivalents and restricted cash at beginning of period 80,601 58,815
Cash and cash equivalents and restricted cash at end of period 197,796 75,606
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,967 3,928
Cash paid for income taxes $ 147 $ 49