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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 61,122 $ 49,868
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,027 4,161
Loss on disposal of fixed assets 0 24
Deferred income tax provision 5,045 0
Stock-based compensation 9,587 5,004
Amortization of debt discount 350 480
Loss on extinguishment of debt 1,159 0
Amortization of license revenue (71) (71)
Changes in operating assets and liabilities:    
Accounts receivable (59,726) (2,692)
Inventories (21,229) (6,904)
Prepaid expenses and other current assets (2,095) (190)
Deposits and other assets (306) (68)
Accounts payable 9,409 (1,410)
Accrued expenses (5,206) (5,193)
Other current and non-current liabilities (602) 419
Net cash provided by operating activities 1,464 43,428
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (7,123) (4,413)
Acquisition of intangible assets (124) (314)
Net cash used in investing activities (7,247) (4,727)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on term loan (30,000) 0
Proceeds from issuance on revolver 30,000 0
Prepayment penalties on repayment of debt (450) 0
Taxes paid on vested restricted stock units (8,419) (3,169)
Net proceeds from the exercise of stock options 2,165 1,360
Payment of end of term fee (375) 0
Net cash used in financing activities (7,079) (1,809)
Net (decrease) increase in cash and cash equivalents (12,862) 36,892
Cash and cash equivalents - beginning of period 103,147 51,352
Cash and cash equivalents - end of period $ 90,285 $ 88,244