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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Operating activities      
Net income (loss) $ 27,713 $ (17,426)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization expense 34,517 37,466  
Depreciation expense 917 817  
Deferred income taxes (4,412) (46)  
Stock-based compensation expense 7,475 6,035  
Non-cash lease benefit (22) (105)  
Non-cash interest expense for amortization of debt discount and issuance costs 1,780 2,287  
Loss on extinguishment of debt   23,504  
Net amortization of premiums and discounts on investments (415)    
Changes in operating assets and liabilities:      
Accounts receivable 4,832 3,993  
Inventory 1,056 13,606  
Prepaid expenses and other assets (177) (238)  
Accounts payable (2,536) (502)  
Accrued liabilities 660 (12,131)  
Accrued rebates, returns and discounts (9,451) (29,589)  
Net cash provided by operating activities 61,937 27,671  
Investing activities      
Purchases of property and equipment (568) (176)  
Purchases of marketable securities (39,110)    
Maturities of marketable securities 21,550    
Net cash used in investing activities (18,128) (176)  
Financing activities      
Proceeds from issuances of common stock from employee stock purchase plan 356 169  
Proceeds from the exercise of stock options 4,205 3,848  
Payments made for employee stock tax withholdings (12,874) (7,736)  
Repayment of term notes (45,833) (25,000)  
Proceeds from issuances of 2029 Convertible Notes, net of issuance costs of $5,846   235,654  
Repurchase of 2026 Convertible Notes, including premium   (138,638)  
Net cash (used in) provided by financing activities (54,146) 68,297  
Net (decrease) increase in cash, cash equivalents and restricted cash (10,337) 95,792  
Cash, cash equivalents and restricted cash at beginning of period 239,994 176,235 $ 176,235
Cash, cash equivalents and restricted cash at end of period 229,657 272,027 239,994
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:      
Cash and cash equivalents 228,610 269,480 238,947
Restricted cash 1,047 2,547 1,047
Total cash, cash equivalents and restricted cash 229,657 272,027 $ 239,994
Supplemental disclosure of cash flow information      
Cash paid for interest 17,468 19,499  
Cash paid for income taxes $ 173 743  
Supplemental disclosure of non-cash activities      
Note issuance costs in accounts payable and accrued liabilities   $ 434