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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 303,016 $ 315,353
Accounts receivable, net 198,825 142,001
Inventories, net 18,441 15,732
Prepaid and other current assets 16,338 11,978
Total current assets 536,620 485,064
Equipment, net 667 584
Right-of-use asset - operating lease 22,472 5,383
Goodwill 12,042 12,042
Intangible asset, net 43,733 46,894
Non-current inventory and other assets 24,251 18,531
Total assets 639,785 568,498
Current liabilities:    
Accounts payable 91,628 71,997
Accrued expenses and other current liabilities 170,902 147,987
Operating lease liability, current portion 337 1,835
Contingent consideration, current 9,232 8,285
Short-term borrowings 70,000  
Total current liabilities 342,099 230,104
Contingent consideration, non-current 79,655 91,680
Loan payable, long-term 117,540 180,710
Operating lease liability, long-term 23,624 6,046
Finance lease liability, long-term 3,792 2,943
Total liabilities 566,710 511,483
Stockholders’ equity:    
Preferred stock, $0.0001 par value per share (10,000,000 shares authorized, none issued and outstanding)
Common stock, $0.0001 par value per share (150,000,000 shares authorized, 49,815,301 and 48,667,587 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively) 5 5
Additional paid-in capital 1,303,243 1,179,797
Accumulated deficit (1,230,173) (1,122,787)
Total stockholders’ equity 73,075 57,015
Total liabilities and stockholders’ equity $ 639,785 $ 568,498