Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 43,162 $ 47,276
Accounts receivable, net 96,321 39,593
Inventories 142,172 145,652
Prepaid expenses and other current assets 13,662 18,493
Total current assets 295,317 251,014
Property, plant and equipment, net 59,369 59,402
Operating lease right-of-use assets 15,446 16,339
Finance lease right-of-use assets 6,553 6,064
Goodwill 1,030,180 1,036,279
Intangible assets, net 913,673 945,007
Other assets, net 1,092 1,317
Total assets 2,321,630 2,315,422
Current liabilities:    
Accrued expenses and other current liabilities 42,991 30,710
Deferred revenue 7,927 0
Total current liabilities 81,852 55,051
Long-term debt, net 667,125 666,494
Operating lease liabilities, net of current portion 14,068 14,908
Finance lease liabilities, net of current portion 6,063 5,547
Deferred income taxes 247,809 253,454
Founders advisory fees payable - related party 116,708 56,917
Other liabilities 2,151 2,193
Total liabilities 1,246,456 1,163,127
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Ordinary shares, $1 nominal value per share, 4,000,000,000 shares authorized; 166,824,659 and 165,066,195 shares issued; 145,221,577 and 146,451,005 shares outstanding at June 30, 2024 and December 31, 2023, respectively 166,825 165,067
Treasury shares, at cost; 21,603,082 and 18,615,190 shares at June 30, 2024 and December 31, 2023, respectively (127,824) (113,407)
Additional paid-in capital 1,704,141 1,701,163
Accumulated other comprehensive loss (26,242) (19,710)
Accumulated deficit (641,726) (580,818)
Total shareholders’ equity 1,075,174 1,152,295
Total liabilities and shareholders’ equity 2,321,630 2,315,422
Nonrelated Party    
Current liabilities:    
Accounts payable 21,805 21,639
Redeemable preferred shares 107,862 105,799
Related Party    
Current liabilities:    
Accounts payable 9,129 2,702
Redeemable preferred shares 2,818 2,764
Customer lists, net    
Current assets:    
Intangible assets, net 653,472 674,786
Technology and patents, net    
Current assets:    
Intangible assets, net 173,456 180,653
Tradenames, net    
Current assets:    
Intangible assets, net $ 86,745 $ 89,568