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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 89,508 $ 67,259 $ 266,905 $ 224,623
Expenses:        
Selling, general and administrative 26,219 28,636 84,364 71,913
Research and development 3,551 3,989 9,989 31,566
Amortization of acquired intangible assets 6,511 6,511 19,391 15,274
Changes in fair values of equity method investments, net 18,231 (71,980) 42,997 (67,886)
Changes in fair values of equity and long-term investments, net 16,936 2,640 60,827 4,887
Interest and dividend income (5,500) (4,114) (13,373) (11,032)
Interest expense 5,807 4,396 17,460 13,205
Other expense, net 914 1,047 3,123 4,289
Total expenses, net 82,659 (18,693) 254,211 91,726
Income before income taxes 6,849 85,952 12,694 132,897
Income tax expense, net 5,636 3,906 9,634 14,706
Net income and comprehensive income $ 1,213 $ 82,046 $ 3,060 $ 118,191
Net income per share:        
Basic $ 0.02 $ 1.26 $ 0.05 $ 1.79
Diluted $ 0.02 $ 0.98 $ 0.05 $ 1.45
Shares used to compute net income per share:        
Basic 62,569 64,953 62,759 66,016
Diluted 62,951 86,164 63,020 87,504
Royalty revenue        
Revenue:        
Total revenue $ 57,056 $ 53,558 $ 179,213 $ 172,681
Net product sales        
Revenue:        
Total revenue 27,822 13,701 68,557 40,942
Expenses:        
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding amortization of intangible assets) 9,990 10,182 29,433 27,910
License revenue        
Revenue:        
Total revenue 4,630 0 19,135 11,000
License        
Expenses:        
Cost of license revenue $ 0 $ 0 $ 0 $ 1,600