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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income $ 108,845 $ 64,069
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 231 177
Stock-based compensation 13,447 12,656
Amortization of intangible assets 18,689 18,688
Deferred taxes (4,755) (3,359)
Accretion of discount (138) 287
Reduction in the carrying amount of right-of-use asset 146 137
Change in fair value of equity securities 308 3,406
Inventory reserve and write-offs 673  
(Increase) decrease in:    
Accounts receivable, net (387) (3,658)
Inventory, net 218 (2,370)
Prepaid expenses and other current assets (387) (11,015)
Increase (decrease) in:    
Accounts payable (11,065) (7,679)
Accrued expenses and other liabilities 5,713 24,902
Operating lease liability (197) (181)
Net cash provided by (used in) operating activities 131,341 96,060
Investing Activities:    
Purchases of property and equipment (26) (209)
Net cash provided by (used in) investing activities (26) (209)
Financing Activities:    
Payment of employee withholding tax related to stock-based compensation (861) (204)
Proceeds from exercise of stock options 6,997 3,553
Payment of liabilities arising from asset acquisition (2,204) (1,847)
Proceeds from issuance of common stock 0 141,000
Payment of fees in connection with issuance of common stock 0 (296)
Net cash provided by (used in) financing activities 3,932 142,206
Net increase (decrease) in cash and cash equivalents 135,247 238,057
Cash and cash equivalents – beginning of period 517,553 137,636
Cash and cash equivalents – end of period 652,800 375,693
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 39,240 34,101
Cash paid for interest $ 215 $ 140