XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 71,517 $ 26,752 $ (22,722)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Amortization expense 67,181 60,680 14,752
Depreciation expense 1,736 870 731
Deferred income taxes (78,042)    
Stock-based compensation expense 24,255 21,910 16,528
Non-cash lease expense 18 57 313
Non-cash interest expense for amortization of debt discount and issuance costs 3,406 8,972  
Changes in operating assets and liabilities:      
Accounts receivable (22,524) (10,367) 4,993
Inventory (2,296) (8,270) (1,826)
Prepaid expenses and other assets (1,086) (1,598) 2,037
Accounts payable (5,827) 3,769 (5,903)
Accrued expenses 4,777 (7,838) 6,056
Accrued rebates, returns and discounts 40,442 (995) 12,766
Operating lease assets and liabilities     734
Other long-term liabilities     (676)
Net cash provided by operating activities 103,557 93,942 27,783
Investing activities      
Purchase of intangible asset   (368,226)  
Purchases of property and equipment (1,944) (5,546) (6,438)
Net cash used in investing activities (1,944) (373,772) (6,438)
Financing activities      
Proceeds from issuances of common stock from employee stock purchase plans 755 758 817
Proceeds from the exercise of stock options 11,952 6,577 2,046
Payments made for employee stock tax withholdings (4,149) (2,255) (822)
Repurchases of common stock, including the ASR agreement (47,861)    
Proceeds from issuance of term note, net of issuance costs of $2,456   192,117  
Proceeds from convertible senior notes, net of issuance costs of $5,473   138,277  
Repayment of term notes (50,000) (37,500)  
Repayment of term loan   (11,500)  
Net cash (used in) provided by financing activities (89,303) 286,474 2,041
Net increase in cash, cash equivalents and restricted cash 12,310 6,644 23,386
Cash, cash equivalents and restricted cash at beginning of period 176,663 170,019 146,633
Cash, cash equivalents and restricted cash at end of period 188,973 176,663 170,019
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:      
Cash and cash equivalents 186,426 174,116 170,019
Restricted cash 2,547 2,547  
Total cash, cash equivalents and restricted cash 188,973 176,663 170,019
Supplemental disclosure of cash flow information      
Cash paid for offering costs     30
Cash paid for interest 17,608 18,967 709
Cash paid for income taxes 3,005 483  
Supplemental disclosure of non-cash activities      
Acquisition of property and equipment in accounts payable and accrued expenses 72 293 134
Accrued royalties discharged upon closing of asset acquisition   1,145  
Inventory used in the construction and installation of property and equipment $ 516 2,299  
Receivable from stock option exercises in other current assets   $ 80  
Operating lease assets assumed     9,957
Operating lease liabilities assumed     $ 10,691