XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ (4,162) $ 45,714
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 513 286
Loss on disposal of property and equipment 33  
Share-based compensation expense 8,385 7,131
Change in fair value of note hedge warrants   (19)
Non-cash interest expense 589 402
Deferred income taxes 6,050 17,052
Changes in assets and liabilities:    
Accounts receivable, net 57,107 14,298
Prepaid expenses and other current assets (2,607) (3,669)
Operating lease right-of-use assets 378 349
Other assets 30 27
Accounts payable and accrued expenses (12,526) 705
Accrued research and development costs (9,451) (2,384)
Operating lease liabilities (523) (479)
Other liabilities 1,169 758
Net cash provided by operating activities 44,985 80,171
Cash flows from investing activities:    
Purchases of property and equipment (68) (13)
Net cash used in investing activities (68) (13)
Cash flows from financing activities:    
Proceeds from exercise of stock options and employee stock purchase plan 10,061 3,981
Taxes paid related to net share settlement of share-based awards (616)  
Repayments of revolving credit facility (25,000)  
Net cash provided by (used in) financing activities (15,555) 3,981
Effect of exchange rate changes on cash, cash equivalents and restricted cash 24  
Net increase in cash, cash equivalents and restricted cash 29,386 84,139
Cash, cash equivalents and restricted cash, beginning of period 92,154 657,938
Cash, cash equivalents and restricted cash, end of period $ 121,540 $ 742,077