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Unaudited Quarterly Operating Results (Tables)
12 Months Ended
Dec. 31, 2023
Unaudited Quarterly Operating Results  
Summary of unaudited quarterly results of operations

First

Second

Third

Fourth

Year Ended December 31, 2023

Quarter

Quarter

Quarter

Quarter

Product revenues, net

$

144,767

$

135,546

$

136,709

$

149,745

Cost of product revenues

Cost of product revenues (excluding intangible asset amortization)

29,899

24,257

20,081

20,601

Intangible asset amortization and impairment

37,466

37,463

36,317

34,514

Total cost of products revenues

 

67,365

 

61,720

 

56,398

 

55,115

Gross profit

77,402

73,826

80,311

94,630

Operating expenses

Selling, general and administrative

 

52,775

 

38,193

 

35,298

 

32,942

Total operating expenses

 

52,775

 

38,193

 

35,298

 

32,942

Income from operations

 

24,627

 

35,633

 

45,013

 

61,688

Interest expense

 

(21,427)

 

(21,863)

 

(20,768)

 

(19,281)

Interest income

2,747

4,027

4,538

4,303

Loss on extinguishment of debt

(23,504)

(Loss) income before income taxes

(17,557)

17,797

28,783

46,710

(Benefit from) provision for income taxes

(131)

4,790

8,149

14,770

Net (loss) income

$

(17,426)

$

13,007

$

20,634

$

31,940

(Loss) earnings per share — basic

$

(0.51)

$

0.38

$

0.61

$

0.99

Weighted-average shares — basic

34,319,291

34,622,284

33,744,209

32,301,211

(Loss) earnings per share — diluted

$

(0.51)

$

0.34

$

0.53

$

0.82

Weighted-average shares — diluted

34,319,291

42,849,952

42,058,821

41,279,981

First

Second

Third

Fourth

Year Ended December 31, 2022

Quarter

Quarter

Quarter

Quarter

Product revenues, net

$

83,751

$

123,549

$

127,013

$

129,620

Cost of product revenues

Cost of product revenues (excluding intangible asset amortization)

16,332

33,684

30,622

37,552

Intangible asset amortization and impairment

18,923

37,501

37,552

42,279

Total cost of products revenues

 

35,255

 

71,185

 

68,174

 

79,831

Gross profit

48,496

52,364

58,839

49,789

Operating expenses

Research and development

3,983

Selling, general and administrative

 

54,528

 

41,254

 

38,372

 

38,032

Total operating expenses

 

58,511

 

41,254

 

38,372

 

38,032

(Loss) income from operations

 

(10,015)

 

11,110

 

20,467

 

11,757

Interest expense

 

(5,831)

 

(17,761)

 

(19,046)

 

(20,575)

Interest income

4

5

11

1,027

(Loss) income before income taxes

(15,842)

(6,646)

1,432

(7,791)

(Benefit from) provision for income taxes

(2,773)

(1,455)

975

(592)

Net (loss) income

$

(13,069)

$

(5,191)

$

457

$

(7,199)

(Loss) earnings per share — basic

$

(0.39)

$

(0.15)

$

0.01

$

(0.21)

Weighted-average shares — basic

33,673,912

34,001,553

34,058,802

33,582,202

(Loss) earnings per share — diluted

$

(0.39)

$

(0.15)

$

0.01

$

(0.21)

Weighted-average shares — diluted

33,673,912

34,001,553

34,570,319

33,582,202