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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 262,610 $ 144,861
Restricted cash 36 33
Accounts receivable, net of $125,165 and $127,824 of adjustments for chargebacks and other allowances at September 30, 2025 and December 31, 2024, respectively 252,617 221,726
Inventories 146,475 136,782
Prepaid income taxes 9,254 0
Prepaid expenses and other current assets 18,551 17,975
Investment in equity securities 8,859 6,307
Total Current Assets 698,402 527,684
Non-current Assets    
Property and equipment, net 63,560 56,863
Deferred tax assets, net of deferred tax liabilities and valuation allowance 71,396 85,106
Intangible assets, net 499,817 541,834
Goodwill 62,480 59,990
Derivatives and other non-current assets 12,497 12,220
Total Assets 1,408,152 1,283,697
Current Liabilities    
Current debt, net of deferred financing costs 15,241 9,172
Accounts payable 69,795 45,656
Accrued royalties 51,247 22,626
Accrued compensation and related expenses 33,221 37,725
Accrued government rebates 37,032 18,714
Income taxes payable 0 6,749
Returned goods reserve 50,005 39,274
Current contingent consideration 63 29
Accrued expenses and other 13,951 13,735
Total Current Liabilities 270,555 193,680
Non-current Liabilities    
Non-current debt, net of deferred financing costs and current component 297,677 309,108
Non-current convertible notes, net of deferred financing costs 307,392 305,812
Non-current contingent consideration, net of current 11,379 19,825
Accrued licensor payments due 4,062 20,961
Other non-current liabilities 11,270 5,781
Total Liabilities 902,335 855,167
Commitments and Contingencies (Note 15)
Mezzanine Equity    
Convertible Preferred Stock, Series A, $0.0001 par value, 1,666,667 shares authorized; 0 shares issued and outstanding at September 30, 2025 and 25,000 shares issued and outstanding at December 31, 2024 0 24,850
Stockholders’ Equity    
Common Stock, $0.0001 par value, 66,000,000 shares authorized; 23,076,007 shares issued and 22,462,035 outstanding at September 30, 2025; $0.0001 par value, 33,333,334 shares authorized 21,537,707 shares issued and 21,108,152 shares outstanding at December 31, 2024 3 2
Class C Special Stock, $0.0001 par value, 781,281 shares authorized; 10,864 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 0 0
Preferred Stock, $0.0001 par value, 1,666,667 shares authorized; 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 0 0
Treasury stock, 613,972 shares of common stock, at cost, at September 30, 2025 and 429,555 shares of common stock, at cost, at December 31, 2024 (32,638) (21,040)
Additional paid-in capital 586,230 519,653
Accumulated deficit (50,589) (100,279)
Accumulated other comprehensive income, net of tax 2,811 5,344
Total Stockholders’ Equity 505,817 403,680
Total Liabilities, Mezzanine Equity, and Stockholders’ Equity $ 1,408,152 $ 1,283,697