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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net income $ 161,628 $ 107,953
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 303 283
Stock-based compensation 19,117 17,080
Amortization of intangible assets 28,033 28,033
Deferred taxes (2,338) (11,943)
Accretion of discount (234) (796)
Reduction in the carrying amount of right-of-use asset 220 207
Change in fair value of equity securities 2,397 1,647
Inventory reserve and write-offs 381  
(Increase) decrease in:    
Accounts receivable, net (40,933) (4,752)
Inventory, net (8,869) (4,373)
Prepaid expenses and other current assets (7,084) (5,849)
Increase (decrease) in:    
Accounts payable (7,497) (3,232)
Accrued expenses and other liabilities 18,954 44,948
Operating lease liability (299) (275)
Net cash provided by (used in) operating activities 163,779 168,931
Investing Activities:    
Purchases of property and equipment (26) (468)
Net cash provided by (used in) investing activities (26) (468)
Financing Activities:    
Payment of employee withholding tax related to stock-based compensation (861) (204)
Proceeds from exercise of stock options 12,793 7,531
Payment of liabilities arising from asset acquisition (3,346) (11,799)
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 8,586 136,232
Net increase (decrease) in cash and cash equivalents 172,339 304,695
Cash and cash equivalents – beginning of period 517,553 137,636
Cash and cash equivalents – end of period 689,892 442,331
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 55,135 51,691
Cash paid for interest $ 336 $ 1,301