v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 700,617 $ 398,866
Restricted cash 0 141,121
Accounts receivable-net [1] 666,636 755,499
Inventories-net 371,814 337,698
Prepaid expenses and other current assets [2] 98,983 128,806
Deferred other costs-current [3] 49,520 49,164
Total current assets 1,887,570 1,811,154
Property, plant and equipment-net 124,363 87,910
Goodwill 919,610 917,560
Deferred other costs-non-current [3] 734,543 771,635
Deferred tax assets 66,458 96,013
Other long-term assets 46,034 43,434
Total Assets 5,152,385 5,119,621
Current liabilities:    
Accounts payable [4] 194,381 137,930
Accrued expenses [5] 161,996 230,721
Income taxes payable 12,570 49,612
Accrued distributor termination fees 2,083 264,088
Accrued promotional allowance [6] 479,164 307,922
Contingent consideration 0 25,000
Deferred revenue-current [7] 33,825 26,988
Other current liabilities 74,999 36,465
Total current liabilities 959,018 1,078,726
Long-term debt 667,755 669,926
Deferred revenue-non-current [3] 456,166 401,155
Other long-term liabilities 34,103 28,372
Total Liabilities 2,117,042 2,178,179
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common Stock, $0.001 par value per share; 400,000 shares authorized; 258,728 shares issued and 251,725 shares outstanding as of September 30, 2026; and 258,108 shares issued and 256,906 shares outstanding as of December 31, 2025 101 101
Treasury stock, at cost; 7,003 shares and 1,202 shares as of September 30, 2026 and December 31, 2025, respectively (228,753) (48,226)
Additional paid-in capital 1,078,166 1,050,518
Accumulated other comprehensive income 37 3,162
Retained earnings 425,817 175,912
Total Stockholders’ Equity 1,275,368 1,181,467
Total Liabilities, Mezzanine Equity and Stockholders’ Equity 5,152,385 5,119,621
Series A Preferred Stock    
Mezzanine equity:    
Series A Preferred Stock, $0.001 par value per share, 1,467 shares authorized, issued and outstanding as of both September 30, 2026 and December 31, 2025 and Series B Preferred Stock, $0.001 par value per share, 390 shares authorized, issued and outstanding as of both September 30, 2026 and December 31, 2025 [3] 852,355 852,355
Series B Preferred Stock    
Mezzanine equity:    
Series A Preferred Stock, $0.001 par value per share, 1,467 shares authorized, issued and outstanding as of both September 30, 2026 and December 31, 2025 and Series B Preferred Stock, $0.001 par value per share, 390 shares authorized, issued and outstanding as of both September 30, 2026 and December 31, 2025 [3] 907,620 907,620
Customer relationships-net    
Current assets:    
Intangible assets, net (excluding goodwill) 93,626 111,604
Brands-net    
Current assets:    
Intangible assets, net (excluding goodwill) $ 1,280,181 $ 1,280,311
[1] Includes $390.3 million and $349.1 million from a related party as of September 30, 2026 and December 31, 2025, respectively.
[2] Includes no amounts from a related party as of September 30, 2026 and $64.2 million from a related party as of December 31, 2025.
[3] Amounts in this line item are associated with a related party for all periods presented.
[4] Includes $43.4 million and $28.6 million due to a related party as of September 30, 2026 and December 31, 2025, respectively.
[5] Includes $4.6 million and $1.8 million due to a related party as of September 30, 2026 and December 31, 2025, respectively.
[6] Includes $285.3 million and $128.9 million due to a related party as of September 30, 2026 and December 31, 2025, respectively.
[7] Includes $30.8 million and $26.3 million due to a related party as of September 30, 2026 and December 31, 2025, respectively.