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Selected Quarterly Financial Information (Unaudited) | 12 Months Ended
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Dec. 31, 2021
Selected Quarterly Financial Information (Unaudited) |
Selected Quarterly Financial Information (Unaudited) |
Note 14. | Selected Quarterly Financial Information (Unaudited)
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​
​ | ​ | March 31, | ​ | June 30, | ​ | September 30, | ​ | December 31, | ​
(in thousands, except per share amounts) | ​ | 2021 | ​ | 2021 | ​ | 2021 | ​ | 2021 | ​
Net sales |  | $ | 67,968 |  | $ | 78,093 |  | $ | 74,710 |  | $ | 73,240 |
Cost of sales | ​ |  | 16,633 | ​ |  | 17,759 | ​ |  | 15,370 | ​ | ​ | 16,865 | ​
Gross profit | ​ |  | 51,335 | ​ |  | 60,334 | ​ |  | 59,340 | ​ | ​ | 56,375 | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative | ​ |  | 41,921 | ​ |  | 45,300 | ​ |  | 44,470 | ​ | ​ | 47,566 | ​
Research and development | ​ |  | 21,219 | ​ |  | 24,256 | ​ |  | 28,846 | ​ | ​ | 26,678 | ​
In-process research and development | ​ | ​ | — | ​ | ​ | 5,000 | ​ | ​ | 5,000 | ​ | ​ | — | ​
Litigation-related settlement | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (30,000) | ​ | ​ | — | ​
Total operating expenses | ​ |  | 63,140 | ​ |  | 74,556 | ​ |  | 48,316 | ​ | ​ | 74,244 | ​
(Loss) income from operations | ​ |  | (11,805) | ​ |  | (14,222) | ​ |  | 11,024 | ​ | ​ | (17,869) | ​
Non-operating expense | ​ |  | (4,385) | ​ |  | (3,052) | ​ |  | (4,592) | ​ | ​ | (4,366) | ​
Income tax provision (benefit) | ​ |  | 279 | ​ |  | 208 | ​ |  | 202 | ​ |  | (363) | ​
Net (loss) income | ​ | $ | (16,469) | ​ | $ | (17,482) | ​ | $ | 6,230 | ​ | $ | (21,872) | ​
Net (loss) income per share (1): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted | ​ | $ | (0.36) | ​ | $ | (0.38) | ​ | $ | 0.13 | ​ | $ | (0.47) | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended |
​ | ​ | March 31, | ​ | June 30, | ​ | September 30, | ​ | December 31, |
(in thousands, except per share amounts) | ​ | 2020 | ​ | 2020 | ​ | 2020 | ​ | 2020 |
Net sales |  | $ | 55,336 |  | $ | 31,558 |  | $ | 64,831 |  | $ | 73,234 | ​
Cost of sales | ​ |  | 32,529 | ​ |  | 21,668 | ​ |  | 17,932 | ​ | ​ | 19,590 | ​
Gross profit | ​ |  | 22,807 | ​ |  | 9,890 | ​ |  | 46,899 | ​ | ​ | 53,644 | ​
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative | ​ |  | 50,546 | ​ |  | 38,116 | ​ |  | 38,947 | ​ | ​ | 43,792 | ​
Research and development | ​ |  | 24,873 | ​ |  | 18,971 | ​ |  | 20,304 | ​ | ​ | 21,244 | ​
Total operating expenses | ​ |  | 75,419 | ​ |  | 57,087 | ​ |  | 59,251 | ​ | ​ | 65,036 | ​
Loss from operations | ​ |  | (52,612) | ​ |  | (47,197) | ​ |  | (12,352) | ​ | ​ | (11,392) | ​
Non-operating expense | ​ |  | (1,896) | ​ |  | (81) | ​ |  | (4,285) | ​ | ​ | (2,499) | ​
Income tax provision | ​ |  | (450) | ​ |  | (7,384) | ​ |  | (889) | ​ |  | (3,243) | ​
Net loss | ​ | $ | (54,058) | ​ | $ | (39,894) | ​ | $ | (15,748) | ​ | $ | (10,648) | ​
Net loss per share (1): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted | ​ | $ | (1.24) | ​ | $ | (0.90) | ​ | $ | (0.35) | ​ | $ | (0.24) | ​
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(1) | Net income or loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share amounts will not necessarily equal the annual per share amount.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
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