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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 20,053,269 $ 11,328,266 $ 11,372,239
Adjustments to reconcile net income to net cash provided in operating activities:      
Amortization 2,432,941 2,239,551 1,691,539
Stock-based compensation expense 263,431 127,378 133,904
Deferred tax expense 90,176 1,550,416 (2,667,150)
Extinguishment of accrued liabilities (78,138) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (4,308,855) (844,313) (1,262,872)
Income tax receivable / payable (763,740) 563,444 422,132
Prepaid expenses and other current assets (23,246) 842 (240,535)
Patent costs (121,199) (204,416) (23,341)
Accounts payable and accrued expenses 325,577 195,349 127,640
Deferred royalty buy-down 0 (600,000) (600,000)
Deferred revenue (139,680) (1,198,863) 7,398,793
Net cash provided by operating activities from operations 17,730,536 13,157,654 16,352,349
Cash flows from investing activities:      
Maturities of marketable securities 75,170,817 54,320,741 43,242,679
Purchases of marketable securities (86,629,358) (64,687,200) (59,935,130)
Net cash used in investing activities from operations (11,458,541) (10,366,459) (16,692,451)
Cash flows from financing activities:      
Proceeds from stock option exercises 2,570,830 395,750 711,400
Repurchases of common stock (3,000,183) (616,499) (1,048,592)
Excess tax benefits from share-based payment arrangements 0 0 302,783
Net cash used in financing activities (429,353) (220,749) (34,409)
Increase (decrease) in cash and cash equivalents 5,842,642 2,570,446 (374,511)
Cash and cash equivalents at beginning of year 7,333,810 4,763,364 5,137,875
Cash and cash equivalents at end of year 13,176,452 7,333,810 4,763,364
Cash paid during the period for:      
Interest 0 0 0
Taxes $ 5,417,572 $ 5,400,000 $ 7,945,000