XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income (loss) $ 83,949 $ (181,896) $ 176,685 $ (166,059)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation 700 400 1,676 952  
Amortization     445 402  
Impairment of intangible assets     0 2,379  
Allowance for credit losses     1,880 705  
Amortization of deferred other costs     10,593 2,354  
Inventory excess and obsolescence     2,677 1,078  
Loss on disposal of property and equipment     195 0  
Stock-based compensation expense     16,221 14,780  
Deferred income taxes-net     (44,303) 31,329  
Foreign exchange loss     258 1,007  
Changes in operating assets and liabilities:          
Accounts receivable-net     (153,271) (78,967)  
Inventories-net     (28,092) 36,211  
Prepaid expenses and other current assets     (12,406) 1,459  
Accounts payable and accrued expenses     14,652 (3,050)  
Income taxes payable     57,662 30,299  
Accrued promotional allowance     100,580 24,213  
Accrued distributor termination fees     (3,986) 115,551  
Other current liabilities     5,239 2,291  
Change in right of use and lease obligation-net     (64) (126)  
Deferred revenue     (10,593) 154,103  
Other assets     (2) 56  
Net cash provided by operating activities     136,046 170,967  
Cash flows from investing activities:          
Collections from note receivable     3,233 2,592  
Purchase of property and equipment     (12,687) (3,477)  
Net cash (used in) investing activities     (9,454) (885)  
Cash flows from financing activities:          
Principal payments on finance lease obligations     (33) (49)  
Proceeds from exercise of stock options     1,603 3,104  
Proceeds from issuance of Series A preferred shares, net of issuance costs     0 542,018  
Dividends paid on preferred shares     (20,512) (4,596)  
Net cash (used in) provided by financing activities     (18,942) 540,477  
Effect of exchange rate changes on cash and cash equivalents     (555) 158  
Net increase in cash and cash equivalents     107,095 710,717  
Cash and cash equivalents at beginning of the period     652,927 16,255 $ 16,255
Cash and cash equivalents at end of the period $ 760,022 $ 726,972 760,022 726,972 $ 652,927
Cash paid for:          
Taxes     $ 33,049 $ 591