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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Revenue $ 121,132 $ 84,859 $ 220,182 $ 155,241
Cost of revenue        
Cost of product revenue 20,417 11,422 38,814 22,832
Cost of contract and other revenue 974 1,017 1,598 2,573
Amortization of acquired intangible assets 3,421 4,439 6,799 8,825
Cost of revenue 24,812 16,878 47,211 34,230
Gross profit 96,320 67,981 172,971 121,011
Operating expenses:        
Research and development 39,538 31,469 79,353 63,823
Sales, general and administrative 26,305 22,184 53,211 45,746
Amortization of acquired intangible assets 417 229 826 458
Restructuring charges 0 0 0 368
Change in fair value of earn-out liability (5,500) 0 (4,300) 0
Total operating expenses 60,760 53,882 129,090 110,395
Operating income 35,560 14,099 43,881 10,616
Interest income and other income (expense), net 2,738 2,381 4,098 5,362
Loss on extinguishment of debt 0 0 (66,497) 0
Loss on fair value adjustment of derivatives, net 0 0 (8,283) 0
Interest expense (348) (2,683) (953) (5,297)
Interest and other income (expense), net 2,390 (302) (71,635) 65
Income (loss) before income taxes 37,950 13,797 (27,754) 10,681
Provision for income taxes 2,930 2,631 3,444 2,128
Net income (loss) $ 35,020 $ 11,166 $ (31,198) $ 8,553
Net income (loss) per share:        
Basic net income (loss) per share $ 0.32 $ 0.10 $ (0.28) $ 0.08
Diluted net income (loss) per share $ 0.31 $ 0.10 $ (0.28) $ 0.07
Weighted-average shares used in per share calculation:        
Basic (in shares) 110,447 112,144 110,170 112,177
Diluted (in shares) 112,715 114,931 110,170 115,358
Product revenue        
Revenue        
Revenue $ 53,302 $ 31,170 $ 101,271 $ 61,951
Royalties        
Revenue        
Revenue 48,038 41,910 78,502 70,769
Contract and other revenue        
Revenue        
Revenue $ 19,792 $ 11,779 $ 40,409 $ 22,521