Unaudited

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Statement of Comprehensive Income [Abstract]        
Net sales $ 210,903 $ 152,124 $ 397,099 $ 270,243
Cost of sales:        
Cost of product (excluding amortization) 52,293 29,324 95,515 51,397
Amortization of patented formulations 2,180 2,268 3,949 4,719
Total cost of sales 54,473 31,592 99,464 56,116
Gross profit 156,430 120,532 297,635 214,127
Operating expenses:        
Selling, general, and administrative 26,111 33,786 48,425 45,066
Amortization of other intangibles 10,295 10,183 20,561 20,365
Total operating expenses 36,406 43,969 68,986 65,431
Operating income 120,024 76,563 228,649 148,696
Interest expense (8,694) (15,563) (20,154) (31,065)
Other expense, net        
Loss on extinguishment of debt 0 0 (18,803) 0
Other expense, net (1,224) (157) (1,601) (204)
Total other expense, net (1,224) (157) (20,404) (204)
Income before provision for income taxes 110,106 60,843 188,091 117,427
Income tax provision 22,391 11,492 38,415 22,545
Net income 87,715 49,351 149,676 94,882
Comprehensive income $ 87,715 $ 49,351 $ 149,676 $ 94,882
Net income per share:        
Net income (loss) per share: Basic (in usd per share) $ 0.14 $ 0.08 $ 0.23 $ 0.15
Net income (loss) per share: Diluted (in usd per share) $ 0.13 $ 0.08 $ 0.22 $ 0.14
Weighted average common shares outstanding:        
Weighted average common shares outstanding: Basic (in shares) 648,973,952 648,124,642 648,894,417 648,066,435
Weighted average common shares outstanding: Diluted (in shares) 691,365,072 656,745,557 692,985,088 683,430,562

Source