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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 890,190 $ 755,981
Accounts receivable-net [1] 270,342 183,703
Note receivable-net 0 2,318
Inventories-net 131,165 229,275
Deferred other costs-current [2] 14,124 14,124
Prepaid expenses and other current assets 18,759 19,503
Total current assets 1,324,580 1,204,904
Property, plant and equipment-net 55,602 24,868
Right of use assets-operating leases 21,606 1,957
Right of use assets-finance leases-net 230 208
Intangibles-net 12,213 12,139
Goodwill 71,582 14,173
Deferred other costs-non-current [2] 234,215 248,338
Deferred tax assets 38,699 29,518
Other long-term assets 8,154 291
Total Assets 1,766,881 1,536,396
Current liabilities:    
Accounts payable [3] 41,287 42,840
Accrued expenses [4] 148,780 62,120
Income taxes payable 10,834 50,424
Accrued promotional allowance [5] 135,948 99,787
Lease liability operating leases 3,265 980
Lease liability finance leases 100 59
Deferred revenue [2] 9,513 9,513
Other current liabilities 15,808 10,890
Total current liabilities 365,535 276,613
Lease liability operating leases 16,674 955
Lease liability finance leases 211 193
Deferred tax liability 2,330 2,880
Deferred revenue [2] 157,714 167,227
Total Liabilities 542,464 447,868
Commitment and contingencies (Note 15)
Mezzanine Equity:    
Series A convertible preferred stock, $0.001 par value, 5% cumulative dividends; 1,466,666 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively, aggregate liquidation preference of $550,000 as of December 31, 2024 and December 31, 2023, respectively 824,488 824,488
Stockholders’ Equity:    
Common stock, $0.001 par value; 300,000,000 shares authorized, 235,013,960 and 231,787,482 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively. 79 77
Additional paid-in capital 297,579 276,717
Accumulated other comprehensive loss (3,250) (701)
Retained earnings (accumulated deficit) 105,521 (12,053)
Total Stockholders’ Equity 399,929 264,040
Total Liabilities, Mezzanine Equity and Stockholders’ Equity $ 1,766,881 $ 1,536,396
[1] Includes $168.2 million and $130.4 million from a related party as of December 31, 2024 and December 31, 2023, respectively.
[2] Amounts in this line item are associated with a related party for all periods presented.
[3] Includes $1.7 million and $0.1 million to a related party as of December 31, 2024 and December 31, 2023, respectively.
[4] Includes $0.2 million and $1.0 million to a related party as of December 31, 2024 and December 31, 2023, respectively.
[5] Includes $75.1 million and $51.8 million to a related party as of December 31, 2024 and December 31, 2023, respectively.