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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 585,967 $ 466,400
Accounts receivable, net of allowances of $15,859 and $21,465 14,934 40,921
Inventory 75,165 95,922
Prepaid expenses and other current assets 13,647 9,953
Total current assets 689,713 613,196
Property and equipment, net 1,442 930
Intangible assets, net 899,549 947,714
Goodwill 168,300 168,300
Other assets 8,719 10,198
Total assets 1,767,723 1,740,338
Current Liabilities:    
Accounts payable 10,423 7,073
Accrued expenses and other current liabilities 35,639 29,643
Current portion of long-term debt 6,750 6,750
Current portion of Related Party payable pursuant to Tax Receivable Agreement 11,842 12,675
Total current liabilities 64,654 56,141
Long-term debt 643,712 649,023
Deferred tax liabilities 5,164 3,016
Related Party payable pursuant to Tax Receivable Agreement 177,469 185,496
Other liabilities 2,322 1,694
Total liabilities 893,321 895,370
Commitments and Contingencies (Note 14)
Stockholders’ equity (Notes 1 and 12):    
Common stock, $0.001 par value per share; 2,000,000,000 shares authorized, 664,224,893 and 660,731,935 shares issued and outstanding as of December 31, 2024 and 2023, respectively 664 671
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding as of December 31, 2024 and 2023, respectively 0 0
Additional paid-in capital 328,538 316,489
Accumulated other comprehensive (loss) income (765) 1,365
Retained earnings 545,965 526,443
Total stockholders’ equity 874,402 844,968
Total liabilities and stockholders’ equity $ 1,767,723 $ 1,740,338