v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 55,958 $ 174,927
Current restricted cash 4,112 0
Short-term investments 391,437 558,594
Accounts receivable, net 83,221 59,601
Inventory 14,508 9,126
Short-term portion of financial royalty assets, net 27,495 22,792
Income taxes receivable 24,296 1,446
Other current assets 7,207 5,785
Total current assets 608,234 832,271
Noncurrent restricted cash 43,321 0
Intangible assets, net 302,039 225,438
Goodwill 207,860 101,541
Long-term portion of financial royalty assets, net 772,619 196,877
Noncurrent derivative assets 29,203 15,632
Equity method investments 48,445 46,500
Other investments 94,479 121,451
Deferred income taxes, net 104,117 8,345
Other assets 27,145 12,582
Total assets 2,237,462 1,560,637
Current liabilities:    
Accounts payable 4,095 3,238
Accrued liabilities 35,665 31,453
Income taxes payable 2,746 1,239
Current contingent liabilities 4,795 287
Current operating lease liabilities 4,557 1,095
Current portion of convertible senior notes, net 448,308 0
Other current liabilities 403 135
Total current liabilities 500,569 37,447
Long-term contingent liabilities 34,072 2,934
Long-term operating lease liabilities 21,434 4,204
Noncurrent portion of convertible senior notes, net 679,909 446,192
Deferred income taxes, net 22,398 36,019
Other long-term liabilities 17,317 16,629
Total liabilities 1,275,699 543,425
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000 shares authorized; zero issued and outstanding at September 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value; 60,000 shares authorized; 20,001 and 19,774 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 20 20
Additional paid-in capital 403,538 400,649
Accumulated other comprehensive income 3,439 8,455
Retained earnings 554,766 608,088
Total stockholders’ equity 961,763 1,017,212
Total liabilities and stockholders’ equity $ 2,237,462 $ 1,560,637