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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 903,748 $ 755,981
Accounts receivable-net [1] 208,774 183,703
Note receivable-current-net 1,025 2,318
Inventories-net 197,572 229,275
Deferred other costs-current [2] 14,124 14,124
Prepaid expenses and other current assets 38,227 19,503
Total current assets 1,363,470 1,204,904
Property and equipment-net 38,370 24,868
Deferred tax assets 24,186 29,518
Right of use assets-operating leases 5,506 1,957
Right of use assets-finance leases 214 208
Deferred other costs-non-current [2] 237,746 248,338
Intangibles-net 11,877 12,139
Goodwill 14,360 14,173
Other long-term assets 8,594 291
Total Assets 1,704,323 1,536,396
Current liabilities:    
Accounts payable [3] 30,938 42,840
Accrued expenses [4] 73,024 62,120
Income taxes payable 739 50,424
Accrued promotional allowance [5] 158,810 99,787
Lease liability operating-current 1,358 980
Lease liability finance-current 99 59
Deferred revenue-current [2] 9,513 9,513
Other current liabilities 14,979 10,890
Total current liabilities 289,460 276,613
Lease liability operating-non-current 4,193 955
Lease liability finance-non-current 189 193
Deferred tax liabilities 2,275 2,880
Deferred revenue-non-current [2] 160,092 167,227
Total Liabilities 456,209 447,868
Commitments and contingencies (Note 16)
Mezzanine Equity    
Series A convertible preferred stock, $0.001 par value per share, 5% cumulative dividends; 1,466,666 shares issued and outstanding at each of September 30, 2024 and December 31, 2023, aggregate liquidation preference of $550,000 as of both September 30, 2024 and December 31, 2023. [2] 824,488 824,488
Stockholders’ Equity:    
Common stock, $0.001 par value per share; 300,000,000 shares authorized, 234,982,044 and 231,787,482 shares issued and outstanding at each of September 30, 2024 and December 31, 2023, respectively 79 77
Additional paid-in capital 292,576 276,717
Accumulated other comprehensive loss (338) (701)
Retained earnings (accumulated deficit) 131,309 (12,053)
Total Stockholders’ Equity 423,626 264,040
Total Liabilities, Mezzanine Equity and Stockholders’ Equity $ 1,704,323 $ 1,536,396
[1] Includes $118.1 million and $130.0 million from a related party as of September 30, 2024 and December 31, 2023, respectively.
[2] Amounts in this line item are associated with a related party for all periods presented.
[3] Includes $0.8 million and $0.1 million due to a related party as of September 30, 2024 and December 31, 2023, respectively.
[4] Includes no balance due to a related party as of September 30, 2024 and $1.0 million as of December 31, 2023.
[5] Includes $101.3 million and $51.8 million due to a related party as of September 30, 2024 and December 31, 2023, respectively.