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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 99,898 $ 80,992 $ 177,397 $ 157,364
Expenses:        
Selling, general and administrative 27,740 23,542 58,145 43,277
Research and development 2,560 14,989 6,438 27,577
Amortization of acquired intangible assets 6,440 4,958 12,880 8,763
Changes in fair values of equity method investments, net 60,108 19,911 24,766 4,094
Changes in fair values of equity and long-term investments, net 30,556 83 43,891 2,247
Interest and dividend income (3,474) (3,553) (7,873) (6,918)
Interest expense 5,802 4,382 11,653 8,809
Other expense, net 973 1,896 2,209 3,242
Total expenses, net 139,177 75,187 171,552 110,419
Income (loss) before income taxes (39,279) 5,805 5,845 46,945
Income tax expense (benefit), net (4,594) 4,525 3,998 10,800
Net income (loss) and comprehensive income (loss) $ (34,685) $ 1,280 $ 1,847 $ 36,145
Net income (loss) per share:        
Basic $ (0.55) $ 0.02 $ 0.03 $ 0.54
Diluted $ (0.55) $ 0.02 $ 0.03 $ 0.46
Shares used to compute net income (loss) per share:        
Basic 62,526 65,341 62,856 66,557
Diluted 62,526 65,489 63,064 88,175
Royalty revenue        
Revenue:        
Total revenue $ 63,742 $ 62,265 $ 122,157 $ 119,123
Net product sales        
Revenue:        
Total revenue 21,651 15,727 40,735 27,241
Expenses:        
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding amortization of intangible assets) 8,472 8,979 19,443 17,728
License revenue        
Revenue:        
Total revenue 14,505 3,000 14,505 11,000
License        
Expenses:        
Cost of license revenue $ 0 $ 0 $ 0 $ 1,600