2024 Q1 Form 10-K Financial Statement

#000162828024006158 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $370.0M $354.0M $1.296B
YoY Change 23.0% 34.52% 38.65%
Cost Of Revenue $128.1M $124.1M $586.9M
YoY Change -42.72% 29.31% 66.09%
Gross Profit $241.8M $229.9M $709.5M
YoY Change 213.78% 37.51% 21.98%
Gross Profit Margin 65.37% 64.93% 54.73%
Selling, General & Admin $93.44M $75.56M $267.2M
YoY Change 67.19% 13.41% 14.27%
% of Gross Profit 38.64% 32.87% 37.66%
Research & Development $48.02M $16.82M $77.71M
YoY Change 57.29% -93.82% -75.07%
% of Gross Profit 19.86% 7.32% 10.95%
Depreciation & Amortization $15.45M $15.04M $60.04M
YoY Change 5.68% 26.61% 25.27%
% of Gross Profit 6.39% 6.54% 8.46%
Operating Expenses $141.5M $92.38M $344.9M
YoY Change 63.69% -72.74% -36.77%
Operating Profit $106.6M $137.5M $364.6M
YoY Change -1241.21% -180.08% 907.44%
Interest Expense $4.859M $2.517M $20.02M
YoY Change -2.64% -529.52% 178.62%
% of Operating Profit 4.56% 1.83% 5.49%
Other Income/Expense, Net $8.788M -$1.600M $66.32M
YoY Change 171.99% -52.83% -3994.3%
Pretax Income $171.3M $138.4M $410.9M
YoY Change -1642.4% -178.53% 1438.02%
Income Tax $40.20M $35.02M $84.28M
% Of Pretax Income 23.47% 25.31% 20.51%
Net Earnings $131.1M $103.4M $326.7M
YoY Change -4769.26% -186.74% 1063.86%
Net Earnings / Revenue 35.43% 29.2% 25.2%
Basic Earnings Per Share $1.91 $4.79
Diluted Earnings Per Share $1.87 $1.47 $4.65
COMMON SHARES
Basic Shares Outstanding 68.53M shares 68.49M shares 68.27M shares
Diluted Shares Outstanding 70.10M shares 70.24M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $718.3M $713.7M $713.7M
YoY Change 52.55% 71.7% 71.7%
Cash & Equivalents $718.3M $713.7M $713.7M
Short-Term Investments
Other Short-Term Assets $16.22M $16.68M $23.84M
YoY Change 48.1% 27.43% 82.11%
Inventory $69.76M $64.03M $64.03M
Prepaid Expenses $16.44M
Receivables $337.4M $284.3M $284.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.149B $1.086B $1.086B
YoY Change 48.56% 60.24% 60.24%
LONG-TERM ASSETS
Property, Plant & Equipment $150.1M $146.7M $192.0M
YoY Change 17.74% 20.08% 35.99%
Goodwill $61.19M $61.19M
YoY Change 0.0% 0.0%
Intangibles $142.1M $152.0M
YoY Change -35.39% -51.79%
Long-Term Investments $139.0M
YoY Change
Other Assets $51.34M $55.26M $160.1M
YoY Change 52.78% 60.85% 27.12%
Total Long-Term Assets $682.5M $565.3M $565.3M
YoY Change 18.49% -12.17% -12.17%
TOTAL ASSETS
Total Short-Term Assets $1.149B $1.086B $1.086B
Total Long-Term Assets $682.5M $565.3M $565.3M
Total Assets $1.831B $1.651B $1.651B
YoY Change 35.73% 24.97% 24.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.53M $41.19M $41.19M
YoY Change 21.84% 100.31% 100.31%
Accrued Expenses $146.2M $132.1M $132.1M
YoY Change -25.8% -35.08% -35.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $734.0K $823.0K $823.0K
YoY Change 73.93% 132.49% 132.49%
Total Short-Term Liabilities $237.2M $187.4M $187.4M
YoY Change -14.18% -24.36% -24.36%
LONG-TERM LIABILITIES
Long-Term Debt $562.5M $561.7M $561.7M
YoY Change 0.7% 0.71% 0.71%
Other Long-Term Liabilities $63.11M $63.32M $86.24M
YoY Change 36.57% 37.19% 25.53%
Total Long-Term Liabilities $63.11M $63.32M $647.9M
YoY Change 36.57% -89.51% 3.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $237.2M $187.4M $187.4M
Total Long-Term Liabilities $63.11M $63.32M $647.9M
Total Liabilities $885.8M $835.3M $835.3M
YoY Change -1.99% -4.44% -4.44%
SHAREHOLDERS EQUITY
Retained Earnings $264.6M $133.5M
YoY Change -235.01% -169.12%
Common Stock $757.1M $758.4M
YoY Change 5.47% 5.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $945.5M $815.9M $815.9M
YoY Change
Total Liabilities & Shareholders Equity $1.831B $1.651B $1.651B
YoY Change 35.73% 24.97% 24.97%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $131.1M $103.4M $326.7M
YoY Change -4769.26% -186.74% 1063.86%
Depreciation, Depletion And Amortization $15.45M $15.04M $60.04M
YoY Change 5.68% 26.61% 25.27%
Cash From Operating Activities $127.2M $112.3M $305.3M
YoY Change 17.27% 6.56% 8.33%
INVESTING ACTIVITIES
Capital Expenditures $36.27M $57.40M $91.90M
YoY Change 295.65% 1115.07% 400.9%
Acquisitions
YoY Change
Other Investing Activities -$70.26M $45.34M $97.84M
YoY Change 98.77% -117.44% -137.89%
Cash From Investing Activities -$106.5M -$12.06M $5.939M
YoY Change 139.32% -95.44% -102.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.933M
YoY Change -102.63%
Debt Paid & Issued, Net $184.0K $717.0K
YoY Change -38.05% -99.59%
Cash From Financing Activities -$16.85M -462.0K -$13.06M
YoY Change 94.31% -100.15% -104.19%
NET CHANGE
Cash From Operating Activities $127.2M 112.3M $305.3M
Cash From Investing Activities -$106.5M -12.06M $5.939M
Cash From Financing Activities -$16.85M -462.0K -$13.06M
Net Change In Cash $4.634M 99.74M $298.0M
YoY Change -91.61% -37.06% -5.86%
FREE CASH FLOW
Cash From Operating Activities $127.2M $112.3M $305.3M
Capital Expenditures $36.27M $57.40M $91.90M
Free Cash Flow $90.97M $54.86M $213.4M
YoY Change -8.42% -45.48% -19.01%

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DerivativeGainLossOnDerivativeNet
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DerivativeGainLossOnDerivativeNet
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CY2022 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023 us-gaap Nature Of Operations
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Description of Business<div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lantheus Holdings, Inc., a Delaware corporation, is the parent company of Lantheus Medical Imaging, Inc. (“LMI”) and LMI is the parent company of Progenics Pharmaceuticals, Inc., a Delaware corporation (“Progenics”), and Cerveau Technologies, Inc. (“Cerveau”). See “Progenics Acquisition” and “Acquisition of Assets”, respectively.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company develops, manufactures and commercializes innovative diagnostic and therapeutic products that assist clinicians in the diagnosis and treatment of cancer, heart disease and other diseases. The Company believes its diagnostic products result in improved diagnostic information that enables healthcare providers to better detect and characterize, or rule out, disease, potentially achieving improved patient outcomes, reducing patient risk and limiting overall costs throughout the healthcare system.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s commercial products are used by cardiologists, internal medicine physicians, nuclear medicine physicians, oncologists, radiologists, sonographers, technologists, and urologists working in a variety of clinical settings. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company produces and markets its products throughout the U.S., selling primarily to hospitals, independent diagnostic testing facilities, and radiopharmacies. The Company sells its products outside the U.S. through a combination of direct distribution in Canada and third-party distribution relationships in Europe, Canada, Australia, Asia-Pacific, Central America and South America.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales of the Company’s prostate cancer diagnostic imaging agent, PYLARIFY (as defined below), are generated in the U.S. through an internal PYLARIFY sales team, as well as a sales team at some of the Company’s positron emission tomography (“PET”) manufacturing facilities (“PMF”) partners. Sales of the Company’s ultrasound enhancing agent, DEFINITY, are generated in the U.S. through an internal DEFINITY sales team. In the U.S., the Company’s other nuclear imaging products, including TechneLite, Xenon, NEUROLITE and CARDIOLITE, are primarily sold to commercial radiopharmacies, the majority of which are controlled by or associated with PharmaLogic, Cardinal, RLS, UPPI, and Jubilant Radiopharma. Research revenue is derived from existing partnerships with pharmaceutical companies that use our products and product candidates in clinical trials and includes milestone and dose-related payments. A small portion of the Company’s nuclear imaging product sales in the U.S. are generated through the Company’s internal sales force to hospitals and clinics that maintain their own in-house radiopharmaceutical preparation capabilities. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Europe, Australia, Asia-Pacific, Central America and South America, the Company generally relies on third-party distributors to market, sell and distribute its nuclear imaging and ultrasound enhancing agent products, either on a country-by-country basis or on a multi-country regional basis. The Company’s executive offices are located in Bedford, MA, with additional offices in North Billerica, MA, Somerset, NJ, Montreal, Canada and Lund, Sweden.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Progenics Acquisition</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 19, 2020 (the “Closing Date”), pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of February 20, 2020 (the “Merger Agreement”), by and among Holdings, Plato Merger Sub, Inc., a wholly-owned subsidiary of Holdings (“Merger Sub”), and Progenics, Holdings completed the acquisition of Progenics by means of a merger of Merger Sub with and into Progenics, with Progenics surviving such merger as a wholly-owned subsidiary of Holdings (the “Progenics Acquisition”).</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Progenics Acquisition, Lantheus Holdings issued 26,844,877 shares of Lantheus Holdings common stock and 86,630,633 contingent value rights (each a “CVR”) tied to the financial performance of PYLARIFY to former Progenics stockholders and option holders. Each CVR entitled its holder to receive a pro rata share of aggregate cash payments equal to 40% of United States (“U.S.”) net sales generated by PYLARIFY in 2022 and 2023 in excess of $100.0 million and $150.0 million, respectively. The Company’s aggregate payments in respect of the CVRs, together with any other non-stock consideration treated as paid in connection with the Progenics Acquisition, was capped at 19.9% of the total consideration the Company paid in the Progenics Acquisition. Based on the Company’s 2022 PYLARIFY net sales, the Company determined that the aggregate payment obligation under the CVRs was $99.6 million, which was the maximum amount payable. The Company paid out this amount in May 2023 in full satisfaction of the CVRs.</span></div>
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The estimates reflected in the Company’s consolidated financial statements include, but are not limited to, certain judgments regarding revenue recognition, goodwill, tangible and intangible asset valuation, inventory valuation, asset retirement obligations, contingent assets and liabilities, income tax liabilities and related indemnification receivable, deferred tax assets and liabilities and accrued expenses. Actual results could materially differ from those estimates or assumptions.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Risks and Limited Suppliers</span></div><div style="margin-top:6pt;text-indent:22.5pt"><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 principally of trade accounts receivable. The Company periodically reviews its accounts receivable for collectability and provides for an allowance for doubtful accounts to the extent that amounts are not expected to be collected. The Company sells primarily to hospitals, independent diagnostic testing facilities, and radiopharmacies.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2023 and 2022, no customer accounted for greater than 10% of accounts receivable, net. No customer accounted for greater than 10% of revenues for the years ended December 31, 2023, 2022 and 2021.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company relies on certain materials used in its development and manufacturing processes, some of which are procured from only one or a few sources. The failure of one of these suppliers to deliver on schedule could delay or interrupt the manufacturing or commercialization process and would adversely affect the Company’s operating results. In addition, a disruption in the commercial supply of, or a significant increase in the cost of one of the Company’s materials from these sources could have a material adverse effect on the Company’s business, financial position and results of operations.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company currently relies on JHS as its significant manufacturer of DEFINITY and its sole source manufacturer of NEUROLITE, CARDIOLITE and evacuation vials for TechneLite. The Company relies on Samsung Biologics Co., Ltd. (“SBL”) as its sole source manufacturer of DEFINITY RT. The Company has Mo-99 supply agreements with IRE of Belgium, running through December 31, 2024, with auto-renewal provisions and terminable upon notice of non-renewal, and with NTP and its subcontractor ANSTO, running through December 31, 2024.</span></div>
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P6Y8M12D
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18283464000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
48.13
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y8M12D
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
18283464000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
466039 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
26.99
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16462767000 usd
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12900000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
13100000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1600000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
13200000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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1249992 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
34.65
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
710985 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
74.38
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
612912 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
29.78
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50.36
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1210259 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
58.71
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
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150000000 usd
CY2022Q4 us-gaap Proceeds From Repayment Of Loans To Purchase Common Stock
ProceedsFromRepaymentOfLoansToPurchaseCommonStock
75000000 usd
CY2022Q4 us-gaap Sale Of Stock Price Per Share
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56.01
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1300000 shares
CY2022 us-gaap Stock Repurchased During Period Value
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75000000 usd
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2023Q4 lnth Number Of Operating Leases
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2 lease
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45325000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19033000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1438000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
582000 usd
CY2023Q4 lnth Lease Right Of Use Asset
LeaseRightOfUseAsset
46763000 usd
CY2022Q4 lnth Lease Right Of Use Asset
LeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1904000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2177000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
823000 usd
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FinanceLeaseLiabilityCurrent
354000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
54453000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25442000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
625000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
231000 usd
CY2023Q4 lnth Lease Liability
LeaseLiability
57805000 usd
CY2022Q4 lnth Lease Liability
LeaseLiability
28204000 usd
CY2021Q3 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P9Y
CY2021 us-gaap Impairment Lessor Asset Under Operating Lease
ImpairmentLessorAssetUnderOperatingLease
9500000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
4627000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
1797000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
795000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
426000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
81000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
28000 usd
CY2023 us-gaap Lease Cost
LeaseCost
5503000 usd
CY2022 us-gaap Lease Cost
LeaseCost
2251000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.073
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.062
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3462000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
2440000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
81000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
28000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
504000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
384000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
29396000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
29396000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11019000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11019000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1437000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
582000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4624000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
846000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5413000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
664000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7090000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
151000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7312000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7453000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
67642000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
99534000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1661000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
43177000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
213000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
56357000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1448000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
16437000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12887000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
246000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
205000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
16683000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
13092000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45325000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19033000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
9936000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
15322000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
55261000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
34355000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
326661000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28067000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-71279000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68266000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68487000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67486000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
199000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70239000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70671000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67486000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.79
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.06
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.65
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.06
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
421000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
358000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2893000 shares
CY2023Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
2716000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
2716000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2716000 usd
CY2023Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
2716000 usd
CY2023Q4 lnth Purchase Obligation To Be Paid Year Five And Thereafter
PurchaseObligationToBePaidYearFiveAndThereafter
0 usd
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
10864000 usd
CY2023Q4 lnth Contingent Payments Under Companys License Agreements
ContingentPaymentsUnderCompanysLicenseAgreements
264400000 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
4100000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3100000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2600000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true

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