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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows provided by (used in) operating activities:    
Net income $ 18,655 $ 8,278
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation of property and equipment 18 21
Reduction in carrying value of right of use assets 36 151
Stock-based compensation 1,077 946
Net gains on investment in marketable securities (2,690) (3,683)
Net gain on derivative instruments (2,600) (615)
Foreign currency remeasurement loss 49 0
Shares issued to an employee in lieu of cash compensation 553 385
Other noncash (182) (26)
Changes in operating assets and liabilities:    
Accounts and other receivables (186) (501)
Prepaid expenses and other current assets 1,146 383
Long-term deposits (210) 18
Other assets 109 113
Accounts payable (27) (68)
Accrued compensation 60 (1,259)
Other current liabilities 6,191 602
Deferred revenue 7,898 (1,189)
Other long-term liabilities 0 (33)
Net cash and cash equivalents provided by operating activities 29,897 3,523
Cash flows provided by (used in) investing activities:    
Purchases of marketable securities and other investments (40,913) (54,954)
Proceeds from sale or maturities of marketable securities and other investments 48,707 30,771
Proceeds from sale of derivative instruments 3,853 5,844
Payments for settlement of derivative instruments (4,771) (1,369)
Net cash and cash equivalents provided by (used in) investing activities 6,876 (19,708)
Cash flows provided by (used in) financing activities:    
Dividend payments to stockholders (1,490) (4,400)
Shares withheld to cover payroll taxes (257) (757)
Other financing activities 0 6
Net cash and cash equivalents used in financing activities (1,747) (5,151)
Net increase (decrease) in cash and cash equivalents 35,026 (21,336)
Cash and cash equivalents:    
Beginning of period 56,071 48,820
End of period 91,097 27,484
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 32 19
Supplemental disclosure of non-cash investing, and financing activities:    
Dividends declared but not yet paid $ 1,502 $ 1,015