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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue      
Revenue $ 556,624 $ 461,117 $ 454,793
Cost of revenue      
Cost of product revenue 95,875 84,495 88,976
Cost of contract and other revenue 3,028 5,403 4,668
Amortization of acquired intangible assets 11,204 13,524 13,935
Cost of revenue 110,107 103,422 107,579
Gross profit 446,517 357,695 347,214
Operating expenses      
Research and development 162,881 156,827 158,769
Sales, general and administrative 104,094 108,149 106,718
Amortization of acquired intangible assets 506 1,217 1,674
Restructuring and other charges 0 9,368 0
Gain on divestiture 0 (90,784) 0
Impairment of assets 1,071 10,045 0
Change in fair value of earn-out liability (5,044) 9,234 3,111
Total operating expenses 263,508 204,056 270,272
Operating income 183,009 153,639 76,942
Interest income and other income (expense), net 18,450 11,327 7,771
Gain on sale of equity security 0 0 3,547
Loss on extinguishment of debt 0 0 (83,626)
Loss on fair value adjustment of derivatives, net 0 (240) (10,585)
Gain on sale of non-marketable equity security 0 23,924 0
Interest Expense, Nonoperating 1,416 1,490 1,874
Interest and other income (expense), net 17,034 33,521 (84,767)
Income (loss) before income taxes 200,043 187,160 (7,825)
Provision for (benefit from) income taxes 20,222 (146,744) 6,485
Net income (loss) $ 179,821 $ 333,904 $ (14,310)
Net income (loss) per share:      
Basic net income (loss) per share $ 1.67 $ 3.09 $ (0.13)
Diluted net income (loss) per share $ 1.65 $ 3.01 $ (0.13)
Weighted-average shares used in per share calculations:      
Basic (in shares) 107,438 108,183 109,472
Diluted (in shares) 109,041 110,889 109,472
Product revenue      
Revenue      
Revenue $ 246,815 $ 224,632 $ 227,068
Royalties      
Revenue      
Revenue 226,172 150,110 139,816
Contract and other revenue      
Revenue      
Revenue $ 83,637 $ 86,375 $ 87,909