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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 11,372,239 $ 9,617,632 $ 4,645,960
Adjustments to reconcile net income to net cash provided in operating activities:      
Amortization 1,691,539 933,009 247,097
Stock-based compensation expense 133,904 105,782 21,416
Deferred tax expense (2,667,150) 455,799 429,005
Gain on the sale of fixed assets 0 0 (1,150)
Changes in operating assets and liabilities:      
Accounts receivable (1,262,872) 390,811 2,051,335
Income tax receivable 422,132 (263,727) (397,408)
Prepaid expenses and other current assets (240,535) (124,647) 81,708
Patent costs (23,341) (25,934) (198,952)
Accounts payable and accrued expenses 127,640 67,313 (90,580)
Deferred royalty buy-down (600,000) (600,000) (600,000)
Deferred revenue 7,398,793 50,622 (59,255)
Net cash provided by operating activities from operations 16,352,349 10,606,660 6,129,176
Cash flows from investing activities:      
Maturities of marketable securities 43,242,679 14,070,544 7,646,964
Purchases of marketable securities (59,935,130) (34,180,085) (12,848,374)
Proceeds from sale of fixed assets 0 0 1,150
Net cash used in investing activities from operations (16,692,451) (20,109,541) (5,200,260)
Cash flows from financing activities:      
Proceeds from stock option exercises 711,400 2,823,983 2,146,821
Repurchases of common stock (1,048,592) (1,802,466) (829,613)
Excess tax benefits from share-based payment arrangements 302,783 3,808,423 1,939,832
Net cash (used in) provided by financing activities from operations (34,409) 4,829,940 3,257,040
(Decrease) increase in cash and cash equivalents (374,511) (4,672,941) 4,185,956
Cash and cash equivalents at beginning of year 5,137,875 9,810,816 5,624,860
Cash and cash equivalents at end of year 4,763,364 5,137,875 9,810,816
Cash paid during the period for:      
Interest 0 0 0
Taxes $ 7,945,000 $ 1,906,000 $ 415,279