Unaudited

v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net sales $ 109,241 $ 210,903 $ 223,028 $ 397,099
Cost of sales:        
Cost of product (excluding amortization) 29,781 52,293 61,016 95,515
Amortization of patented formulations 1,964 2,180 3,706 3,949
Total cost of sales 31,745 54,473 64,722 99,464
Gross profit 77,496 156,430 158,306 297,635
Operating expenses:        
Selling, general, and administrative 48,413 26,111 83,337 48,425
Amortization of other intangible assets 10,324 10,295 20,647 20,561
Total operating expenses 58,737 36,406 103,984 68,986
Operating income 18,759 120,024 54,322 228,649
Interest expense, net (10,206) (8,694) (20,749) (20,154)
Other expense, net        
Loss on extinguishment of debt 0 0 0 (18,803)
Other expense, net (600) (1,224) (358) (1,601)
Total other expense, net (600) (1,224) (358) (20,404)
Income before provision for income taxes 7,953 110,106 33,215 188,091
Income tax provision 1,797 22,391 6,095 38,415
Net income $ 6,156 $ 87,715 $ 27,120 $ 149,676
Net income per share:        
Basic (in usd per share) $ 0.01 $ 0.14 $ 0.04 $ 0.23
Diluted (in usd per share) $ 0.01 $ 0.13 $ 0.04 $ 0.22
Weighted average common shares outstanding:        
Weighted average common shares outstanding: Basic (in shares) 654,345,056 648,973,952 653,045,245 648,894,417
Weighted average common shares outstanding: Diluted (in shares) 680,349,161 691,365,072 682,107,732 692,985,088
Other comprehensive income:        
Unrealized gain on derivatives, net of income tax effect $ 1,647 $ 0 $ 1,090 $ 0
Total other comprehensive income: 1,647 0 1,090 0
Comprehensive income: $ 7,803 $ 87,715 $ 28,210 $ 149,676

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