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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income (loss) $ 48,155 $ (25,002) $ 71,517
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization and impairment expense 145,760 136,255 67,181
Depreciation expense 3,496 2,684 1,736
Deferred income taxes (2,153) (8,391) (78,042)
Stock-based compensation expense 27,136 22,874 24,255
Non-cash lease (benefit) expense (280) 238 18
Loss on extinguishment of debt 23,504    
Non-cash interest expense for amortization of debt discount and issuance costs 8,635 8,285 3,406
Net amortization of premiums and discounts on investments (1,235)    
Changes in operating assets and liabilities:      
Accounts receivable 3,594 (21,780) (22,524)
Inventory 14,169 48,274 (2,296)
Prepaid expenses and other assets 1,439 (4,606) (1,086)
Accounts payable 5,061 (707) (5,827)
Accrued liabilities 628 (11,131) 4,777
Accrued rebates, returns and discounts (3,160) (22,766) 40,442
Operating lease assets and liabilities   3  
Net cash provided by operating activities 274,749 124,230 103,557
Investing activities      
Purchases of property and equipment (461) (1,622) (1,944)
Purchases of marketable securities (92,351)    
Maturities of marketable securities 22,000    
Acquisition of BDSI (net of cash acquired)   (572,069)  
Net cash used in investing activities (70,812) (573,691) (1,944)
Financing activities      
Proceeds from issuances of common stock from employee stock purchase plans 460 337 755
Proceeds from the exercise of stock options 8,641 11,811 11,952
Payments made for employee stock tax withholdings (8,361) (4,044) (4,149)
Repurchases of common stock (75,000) (14,063) (47,861)
Repayment of term notes (162,500) (75,000) (50,000)
Proceeds from term note modification   517,682  
Proceeds from issuances of 2029 convertible notes, net of issuance costs of $6,280 235,220    
Repurchase of 2026 Convertible Notes, including premium (138,638)    
Net cash (used in) provided by financing activities (140,178) 436,723 (89,303)
Net increase (decrease) in cash, cash equivalents and restricted cash 63,759 (12,738) 12,310
Cash, cash equivalents and restricted cash at beginning of year 176,235 188,973 176,663
Cash, cash equivalents and restricted cash at end of year 239,994 176,235 188,973
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:      
Cash and cash equivalents 238,947 173,688 186,426
Restricted cash 1,047 2,547 2,547
Total cash, cash equivalents and restricted cash 239,994 176,235 188,973
Supplemental disclosure of cash flow information      
Cash paid for interest 73,256 52,528 17,608
Cash paid for income taxes 24,205 $ 10,400 3,005
Supplemental disclosure of non-cash activities      
Acquisition of property and equipment in accounts payable and accrued liabilities 176   72
Excise tax on share repurchases in accrued liabilities $ 457    
Inventory used in the construction and installation of property and equipment     $ 516