2024 Q4 Form 10-Q Financial Statement

#000162828024044196 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $175.4M $126.2M
YoY Change 39.0% 75.56%
Cost Of Revenue $15.30M $9.100M
YoY Change 68.18% 55.56%
Gross Profit $160.1M $117.0M
YoY Change 36.81% 77.22%
Gross Profit Margin 91.27% 92.73%
Selling, General & Admin $132.1M $105.2M
YoY Change 25.57% 19.04%
% of Gross Profit 82.53% 89.91%
Research & Development $66.82M $41.55M
YoY Change 60.82% 24.87%
% of Gross Profit 41.74% 35.51%
Depreciation & Amortization $138.0K $130.0K
YoY Change 6.15% -23.53%
% of Gross Profit 0.09% 0.11%
Operating Expenses $214.2M $155.9M
YoY Change 37.42% 22.26%
Operating Profit -$38.85M -$29.71M
YoY Change 30.75% -46.59%
Interest Expense $12.90M $5.500M
YoY Change 134.53% 159.19%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$25.95M -$24.22M
YoY Change 7.16% -54.74%
Income Tax $374.0K $43.00K
% Of Pretax Income
Net Earnings -$26.32M -$24.26M
YoY Change 8.52% -54.66%
Net Earnings / Revenue -15.01% -19.23%
Basic Earnings Per Share -$0.25 -$0.25
Diluted Earnings Per Share -$0.25 -$0.25
COMMON SHARES
Basic Shares Outstanding 106.0M shares 105.7M shares 96.09M shares
Diluted Shares Outstanding 105.8M shares 96.14M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.007B $493.0M
YoY Change 104.16% -25.83%
Cash & Equivalents $464.3M $99.40M
Short-Term Investments $542.3M $393.6M
Other Short-Term Assets $96.02M $63.80M
YoY Change 50.5% 39.06%
Inventory $23.54M $42.99M
Prepaid Expenses
Receivables $145.6M $102.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.272B $702.4M
YoY Change 81.05% -7.55%
LONG-TERM ASSETS
Property, Plant & Equipment $2.005M $1.789M
YoY Change 12.07% -14.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.219M $86.00K
YoY Change 7131.4% 0.0%
Total Long-Term Assets $52.71M $15.24M
YoY Change 245.92% -31.49%
TOTAL ASSETS
Total Short-Term Assets $1.272B $702.4M
Total Long-Term Assets $52.71M $15.24M
Total Assets $1.324B $717.7M
YoY Change 84.55% -8.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.34M $10.61M
YoY Change -2.59% -25.36%
Accrued Expenses $155.8M $92.50M
YoY Change 68.41% 46.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $166.1M $103.1M
YoY Change 61.13% 33.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.51M $13.90M
YoY Change -2.83% -27.48%
Total Long-Term Liabilities $13.51M $13.90M
YoY Change -2.83% -27.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $166.1M $103.1M
Total Long-Term Liabilities $13.51M $13.90M
Total Liabilities $179.6M $117.0M
YoY Change 53.54% 21.13%
SHAREHOLDERS EQUITY
Retained Earnings -$1.675B -$1.589B
YoY Change 5.44% 10.82%
Common Stock $2.818B $2.191B
YoY Change 28.65% 3.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.145B $600.7M
YoY Change
Total Liabilities & Shareholders Equity $1.324B $717.7M
YoY Change 84.55% -8.23%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$26.32M -$24.26M
YoY Change 8.52% -54.66%
Depreciation, Depletion And Amortization $138.0K $130.0K
YoY Change 6.15% -23.53%
Cash From Operating Activities -$26.53M -$25.27M
YoY Change 4.97% -52.63%
INVESTING ACTIVITIES
Capital Expenditures $696.0K $270.0K
YoY Change 157.78% -330.77%
Acquisitions
YoY Change
Other Investing Activities -$208.5M -$19.90M
YoY Change 947.77% -118.72%
Cash From Investing Activities -$209.2M -$20.17M
YoY Change 937.2% -119.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.734M 2.580M
YoY Change 161.01% -54.37%
NET CHANGE
Cash From Operating Activities -26.53M -25.27M
Cash From Investing Activities -209.2M -20.17M
Cash From Financing Activities 6.734M 2.580M
Net Change In Cash -229.0M -42.86M
YoY Change 434.28% -173.3%
FREE CASH FLOW
Cash From Operating Activities -$26.53M -$25.27M
Capital Expenditures $696.0K $270.0K
Free Cash Flow -$27.22M -$25.54M
YoY Change 6.58% -52.02%

Facts In Submission

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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
5861000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
31590000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
27481000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3750000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19066000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
50755000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
218000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
23596000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
8172000 usd
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CY2023Q1 us-gaap Stockholders Equity
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CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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StockholdersEquity
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CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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StockIssuedDuringPeriodValueIssuedForServices
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CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13843000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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OtherComprehensiveIncomeLossNetOfTax
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CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2024Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16370000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-16220000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2024Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
18000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
17489000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-26324000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2297000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation
Depreciation
399000 usd
us-gaap Depreciation
Depreciation
392000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
6043000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
5861000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
31590000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
27481000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3750000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19066000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
50755000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
16805000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
218000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
23596000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
8172000 usd
itci Increase Decrease In Accrued Customer Programs
IncreaseDecreaseInAccruedCustomerPrograms
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itci Increase Decrease In Accrued Customer Programs
IncreaseDecreaseInAccruedCustomerPrograms
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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2132000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2452000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1106000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60099000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
482077000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
310805000 usd
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
297568000 usd
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
369192000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
749000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
268000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
58119000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
18816000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
14806000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
543086000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
561902000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14806000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
316545000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-49213000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
466062000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101152000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2548000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1364000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
464312000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99402000 usd
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1750000 usd
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1750000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
466062000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101152000 usd
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
7876713 shares
CY2024Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
73.00
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
575000000 usd
itci Increase Decrease In Accrued Customer Programs
IncreaseDecreaseInAccruedCustomerPrograms
-9997000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2132000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2452000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-312000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1106000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60099000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-122138000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
482077000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
310805000 usd
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
297568000 usd
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
369192000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
749000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
268000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-185258000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
58119000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
543086000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
561902000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14806000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
316545000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-49213000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
466062000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101152000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2548000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1364000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
464312000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99402000 usd
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1750000 usd
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1750000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
466062000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101152000 usd
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
7876713 shares
CY2024Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
73.00
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
575000000 usd
CY2024Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
543100000 usd
CY2024Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
543100000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although actual results could differ from those estimates, management does not believe that such differences would be material.
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject the Company to concentrations of credit risk consist of accounts receivable, net from customers and cash, cash equivalents and investment securities held at financial institutions. For the nine-month period ended September 30, 2024, 98% of product sales were generated from three major industry wholesalers. </span></div>Three individual customers accounted for approximately 37%, 33%, and 28% as well as 36%, 32%, and 29% of product sales for the nine-month periods ended September 30, 2024 and 2023, respectively. As of September 30, 2024, the Company continues to believe that such customers are of high credit quality.
CY2024Q3 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
563917000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1674000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
45000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
565546000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
412570000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
490000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
386000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
412674000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
164000000.0 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
77800000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
1000000.0 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
65200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
165200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
95100000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although actual results could differ from those estimates, management does not believe that such differences would be material.
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject the Company to concentrations of credit risk consist of accounts receivable, net from customers and cash, cash equivalents and investment securities held at financial institutions. For the nine-month period ended September 30, 2024, 98% of product sales were generated from three major industry wholesalers. </span></div>Three individual customers accounted for approximately 37%, 33%, and 28% as well as 36%, 32%, and 29% of product sales for the nine-month periods ended September 30, 2024 and 2023, respectively. As of September 30, 2024, the Company continues to believe that such customers are of high credit quality.
CY2024Q3 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
563917000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1674000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
45000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
565546000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
412570000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
490000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
386000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
412674000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
164000000.0 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
77800000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
66200000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
1000000.0 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
65200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
165200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
70100000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
95100000 usd
CY2024Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
225100000 usd
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
10700000 usd
CY2024Q3 us-gaap Inventory Raw Materials Net Of Reserves
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30479000 usd
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