XML 19 R6.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 2,417 $ 27,713
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization expense 55,473 34,517
Depreciation expense 1,091 917
Deferred income taxes (539) (4,412)
Stock-based compensation expense 11,524 7,475
Non-cash lease benefit (30) (22)
Non-cash interest expense for amortization of debt discount and issuance costs 1,367 1,780
Net accretion of deferred royalty obligation 909  
Net amortization of premiums and discounts on investments (324) (415)
Change in fair value of contingent consideration (786)  
Changes in operating assets and liabilities:    
Accounts receivable (170) 4,832
Inventory (1,658) 1,056
Prepaid expenses and other assets (10,272) (177)
Accounts payable 13,919 (2,536)
Accrued liabilities (17,673) 660
Accrued rebates, returns and discounts 150 (9,451)
Net cash provided by operating activities 55,398 61,937
Investing activities    
Purchases of property and equipment (798) (568)
Purchases of marketable securities (25,890) (39,110)
Maturities of marketable securities 17,008 21,550
Net cash used in investing activities (9,680) (18,128)
Financing activities    
Proceeds from issuances of common stock from employee stock purchase plan 506 356
Proceeds from the exercise of stock options 1,552 4,205
Payments made for employee stock tax withholdings (10,593) (12,874)
Repayment of term notes (16,146) (45,833)
Payments made for deferred purchase price for acquisition (555)  
Net cash used in financing activities (25,236) (54,146)
Net increase (decrease) in cash, cash equivalents and restricted cash 20,482 (10,337)
Cash, cash equivalents and restricted cash at beginning of period 96,612 239,994
Cash, cash equivalents and restricted cash at end of period 117,094 229,657
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:    
Cash and cash equivalents 96,192 228,610
Restricted cash 20,902 1,047
Total cash, cash equivalents and restricted cash 117,094 229,657
Supplemental disclosure of cash flow information    
Cash paid for interest 21,694 17,468
Cash paid for income taxes $ 2,456 $ 173