XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 15,662 $ 450
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization expense 16,795 10,295
Depreciation expense 439 198
Stock-based compensation expense 6,879 4,951
Non-cash lease expense 7 18
Non-cash interest expense for amortization of debt discount and issuance costs 919 1,336
Changes in operating assets and liabilities:    
Accounts receivable (9,836) (12,474)
Inventory (400) (6,714)
Prepaid expenses and other assets (115) (2,990)
Accounts payable (1,350) (108)
Accrued expenses (8,029) (15,968)
Accrued rebates, returns and discounts (401) 14,337
Net cash provided by (used in) operating activities 20,570 (6,669)
Investing activities    
Purchase of intangible asset   (366,811)
Purchases of property and equipment (428) (836)
Net cash used in investing activities (428) (367,647)
Financing activities    
Proceeds from issuances of common stock from employee stock purchase plans 358 357
Proceeds from the exercise of stock options 4,182 4,454
Payments made for employee stock tax withholdings (3,508) (1,358)
Proceeds from issuance of term note, net of issuance costs of $2,200   192,373
Proceeds from convertible senior notes, net of issuance costs of $4,956   138,794
Repayment of term notes (12,500)  
Repayment of term loan   (11,500)
Net cash (used in) provided by financing activities (11,468) 323,120
Net increase (decrease) in cash, cash equivalents and restricted cash 8,674 (51,196)
Cash, cash equivalents and restricted cash at beginning of period 176,663 170,019
Cash, cash equivalents and restricted cash at end of period 185,337 118,823
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:    
Total cash, cash equivalents and restricted cash 185,337 118,823
Supplemental disclosure of cash flow information    
Cash paid for interest 5,746 3,456
Cash paid for income taxes 418  
Supplemental disclosure of non-cash activities    
Acquisition of property and equipment in accounts payable and accrued expenses 560 392
Asset acquisition transaction costs in accounts payable and accrued expenses   1,415
Accrued royalties discharged upon closing of asset acquisition   1,145
Inventory used in the construction and installation of property and equipment $ 516 394
Term notes issuance costs in accounts payable and accrued expenses   256
Convertible senior notes issuance costs in accounts payable and accrued expenses   $ 517