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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net (loss) income $ (8,246) $ 17,624
Adjustments to reconcile net (loss) income to net cash and cash equivalents provided by operating activities:    
Stock-based compensation 22,283 15,031
Deferred taxes (4,383) (3,394)
Depreciation and amortization 45,131 44,597
Unrealized gain on investment in equity securities (8,298) 0
Non-cash operating lease expense 1,134 888
Non-cash interest 319 2,970
Contingent consideration fair value adjustment 1,274 (559)
Gain on sale of building (5,347) 0
Loss on extinguishment of debt (7,468) 0
Amortization of inventory step up 3,224 0
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable, net 4,426 (13,404)
Inventories (20,612) (1,236)
Prepaid expenses and other assets 3,822 (636)
Accounts payable 7,300 4,772
Accrued royalties 7,171 (2,668)
Prepaid income taxes (14,268) 4,426
Accrued government rebates (1,475) (51)
Returned goods reserve 4,296 (1,961)
Accrued expenses, accrued compensation, and other 2,938 7,820
Net Cash and Cash Equivalents Provided by Operating Activities 48,157 74,219
Cash Flows From Investing Activities    
Acquisition of Alimera, net of cash acquired (393,079) 0
Acquisition of product rights, intangible assets, and other related assets (631) (7,143)
Acquisition of property and equipment, net (13,842) (6,589)
Proceeds from the sale of building 13,514 0
Net Cash and Cash Equivalents Used in Investing Activities (394,038) (13,732)
Cash Flows From Financing Activities    
Proceeds from convertible notes 316,250 0
Proceeds from term loan 325,000 0
Purchase of capped call transaction (40,575) 0
Repayment on borrowings under credit agreement (292,500) 0
Debt issuance costs (15,376) 0
Principal payments on borrowings under credit agreements (1,500) (2,250)
Series A convertible preferred stock dividends paid (1,219) (1,219)
Proceeds from stock option exercises and ESPP purchases 4,788 7,027
Proceeds from public offering 0 80,555
Treasury stock purchases for restricted stock vests (10,641) (4,756)
Payments on contingent consideration (12,500) 0
Payment of accrued licensor payments (1,875) 0
Net Cash and Cash Equivalents Provided by Financing Activities 269,852 79,357
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (75) 0
Net Change in Cash, Cash Equivalents, and Restricted Cash (76,104) 139,844
Cash, cash equivalents, and restricted cash, beginning of period 221,121 53,234
Cash. cash equivalents, and restricted cash end of period 145,017 193,078
Supplemental disclosure for cash flow information:    
Cash paid for interest, net of amounts capitalized 19,232 23,426
Cash paid for income taxes 17,214 930
Right-of-use assets obtained in exchange for lease obligations 0 4,499
Supplemental non-cash investing and financing activities:    
Property and equipment purchased and included in accounts payable 635 247
Purchase consideration for Alimera Acquisition (16,523) 0
Accrued deferred financing costs $ (1,976) $ 0