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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Total revenue $ 411,328 $ 358,711 $ 310,463
Amortization of acquired intangible assets 26,277 25,902 21,784
Gross profit 307,667 296,211 246,039
Operating expenses:      
Selling, general and administrative 113,318 115,690 98,232
Research and development 30,604 13,654 33,922
Total operating expenses 143,922 129,344 132,154
Income from operations 163,745 166,867 113,885
Changes in fair values of equity method investments, net 141,433 (64,253) 77,392
Changes in fair values of equity and long-term investments, net 20,160 (59,161) 11,129
Interest and dividend income 21,086 19,141 15,818
Interest expense (16,698) (22,209) (19,157)
Other expense, net (2,864) (2,997) (4,969)
Income before provision for income taxes 326,862 37,388 194,098
Income tax expense, net (55,697) (13,996) (14,376)
Net income and comprehensive income $ 271,165 $ 23,392 $ 179,722
Net income per share:      
Basic $ 4.02 $ 0.37 $ 2.75
Diluted $ 3.3 $ 0.36 $ 2.2
Shares used to compute net income per share:      
Basic 67,395 62,726 65,435
Diluted 84,760 74,187 86,876
Royalty Revenue      
Revenue:      
Total revenue $ 236,479 $ 241,733 $ 238,846
Net product sales      
Revenue:      
Total revenue 172,130 97,492 60,617
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding amortization of intangible assets) 77,384 36,598 41,040
License and other revenue      
Revenue:      
Total revenue 2,719 19,486 11,000
License      
Revenue:      
Cost of license revenue $ 0 $ 0 $ 1,600