Unaudited

v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Net sales $ 704,274 $ 598,365 $ 282,250
Cost of sales:      
Cost of product (excluding amortization) 177,221 116,554 96,611
Amortization of patented formulations 7,500 7,989 6,052
Total cost of sales 184,721 124,543 102,663
Gross profit 519,553 473,822 179,587
Operating expenses:      
Selling, general, and administrative 113,877 98,878 37,170
Amortization of other intangibles 41,282 40,790 39,825
Acquisition costs 0 0 16,499
Total operating expenses 155,159 139,668 93,494
Operating income 364,394 334,154 86,093
Interest expense, net (41,178) (61,148) (38,645)
Other (expense) income, net      
Loss on extinguishment of debt (18,803) 0 0
Tax receivable agreement liability adjustment 3,084 3,615 0
Other expense, net (2,256) (1,012) (190)
Total other (expense) income, net (17,975) 2,603 (190)
Income before provision for income taxes 305,241 275,609 47,258
Income tax provision 61,169 54,825 7,980
Net income $ 244,072 $ 220,784 $ 39,278
Net income per share:      
Net income per share: Basic (in usd per share) $ 0.38 $ 0.34 $ 0.06
Net income per share: Diluted (in usd per share) $ 0.35 $ 0.32 $ 0.06
Weighted average common shares outstanding:      
Weighted average common shares outstanding: Basic (in shares) 649,092,846 648,166,472 635,386,219
Weighted average common shares outstanding: Diluted (in shares) 691,005,846 689,923,792 636,819,975
Other comprehensive income:      
Unrealized gain on derivatives, net of income tax effect $ 2,577 $ 0 $ 0
Total other comprehensive income 2,577 0 0
Comprehensive income $ 246,649 $ 220,784 $ 39,278

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