XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net (loss) income including noncontrolling interests in subsidiaries $ (110,939) $ 150,365
Adjustments to reconcile net (loss) income including noncontrolling interests in subsidiaries to net cash (used in) provided by operating activities:    
Change in fair value of investment 0 2,752
Gain on sale of investment 0 (3,591)
Depreciation and amortization 13,514 10,688
Amortization of debt discount and issuance costs 90 110
Change in fair value of Series A redeemable convertible preferred stock embedded derivatives (1,613) (8,280)
Change in fair value of Series A warrants (1,895) 4,651
Change in fair value of Series B warrants (11,598) 44,037
Loss from Warrant Exercises 2,004 0
Compensation expense for share-based awards 3,820 2,053
Loss on foreign currency exchange 3,324 89
Change in fair value of equity securities 263,695 (87,527)
Gain on sale of equity securities (125,318) (116,129)
Earnings on equity investment in joint venture (42,531) (3,530)
Deferred income taxes (17,810) 15,742
Changes in assets and liabilities:    
Accounts receivable 998 (747)
Inventories (5,291) 1,906
Prepaid expenses and other assets (5,986) (78)
Accounts payable and accrued expenses (136) 760
Royalties and contingent legal fees payable (1,764) 301
Deferred revenue 100 (246)
Net cash (used in) provided by operating activities (37,336) 13,326
Acquisition, net of cash acquired 0 (33,250)
Cash flows from investing activities:    
Patent acquisition (5,000) (21,000)
Sale of investment at fair value 0 3,591
Purchases of equity securities (112,142) (66,624)
Sales of equity securities 273,934 154,784
Distributions received from equity investment in joint venture 28,404 2,362
Purchases of property and equipment (732) (91)
Net cash provided by investing activities 184,464 35,751
Cash flows from financing activities:    
Repurchase of common stock (50,988) (4,012)
Issuance of Senior Secured Notes, net of lender fee 0 115,000
Paydown of Senior Secured Notes (120,000) (50,000)
Dividend on Series A Redeemable Convertible Preferred Stock (2,799) (1,452)
Taxes paid related to net share settlement of share-based awards (1,600) 0
Proceeds from exercise of Series A warrants 9,250 0
Proceeds from exercise of stock options 0 202
Net cash (used in) provided by financing activities (166,137) 59,738
Effect of exchange rates on cash and cash equivalents (2,566) 0
(Decrease) increase in cash and cash equivalents and restricted cash (21,575) 108,815
Cash and cash equivalents and restricted cash, beginning 309,361 200,546
Cash and cash equivalents and restricted cash, ending 287,786 309,361
Supplemental schedule of cash flow information:    
Interest paid 7,229 7,336
Income taxes paid 384 25
Noncash investing and financing activities:    
Patent acquisition in exchange of notes receivable 0 4,000
Accrued patent costs 9,000 5,000
Distribution to noncontrolling interests in subsidiaries 14,126 1,168
Cash distributed for notes receivable $ 0 $ (4,021)