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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 27, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Trading Symbol	LNTH
Entity Registrant Name	LANTHEUS HOLDINGS, INC.
Entity Central Index Key	0001521036
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		38,280,637

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 73,739	$ 76,290
Accounts receivable, net	47,834	40,259
Inventory	32,086	26,080
Other current assets	5,598	5,221
Total current assets	159,257	147,850
Property, plant & equipment, net	93,777	92,999
Intangibles, net	11,106	11,798
Goodwill	15,714	15,714
Deferred tax assets, net	83,655	87,010
Other long-term assets	29,080	28,487
Total assets	392,589	383,858
Current liabilities
Current portion of long-term debt	2,750	2,750
Revolving line of credit	0	0
Accounts payable	21,012	17,464
Accrued expenses and other liabilities	21,634	26,536
Total current liabilities	45,396	46,750
Asset retirement obligations	10,702	10,412
Long-term debt, net	264,972	265,393
Other long-term liabilities	37,855	38,012
Total liabilities	358,925	360,567
Commitments and contingencies (See Note 13)
Stockholders’ equity
Preferred stock ($0.01 par value, 25,000 shares authorized; no shares issued and outstanding)	0	0
Common stock ($0.01 par value, 250,000 shares authorized; 37,997 and 37,765 shares issued and outstanding, respectively)	380	378
Additional paid-in capital	234,765	232,960
Accumulated deficit	(200,447)	(209,013)
Accumulated other comprehensive loss	(1,034)	(1,034)
Total stockholders’ equity	33,664	23,291
Total liabilities and stockholders’ equity	$ 392,589	$ 383,858

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000	25,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	37,997,000	37,765,000
Common stock, shares outstanding (in shares)	37,997,000	37,765,000

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 82,630	$ 81,359
Cost of goods sold	40,321	41,597
Gross profit	42,309	39,762
Operating expenses
Sales and marketing	10,640	10,214
General and administrative	12,543	12,270
Research and development	3,989	5,351
Total operating expenses	27,172	27,835
Operating income	15,137	11,927
Interest expense	4,050	5,420
Loss on extinguishment of debt	0	2,161
Other income	(920)	(577)
Income before income taxes	12,007	4,923
Income tax expense	3,796	785
Net income	$ 8,211	$ 4,138
Net income per common share:
Basic (in dollars per share)	$ 0.22	$ 0.11
Diluted (in dollars per share)	$ 0.21	$ 0.11
Weighted-average common shares outstanding:
Basic (in shares)	37,886	36,889
Diluted (in shares)	39,493	38,601

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 8,211	$ 4,138
Other comprehensive loss:
Foreign currency translation	0	(4)
Total other comprehensive loss	0	(4)
Comprehensive income	$ 8,211	$ 4,134

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 8,211	$ 4,138
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation, amortization and accretion	3,596	6,160
Amortization of debt related costs	320	360
Provision for bad debt	195	62
Provision for excess and obsolete inventory	1,220	285
Stock-based compensation	1,796	945
Loss on extinguishment of debt and debt retirement costs	0	2,161
Deferred taxes	2,923	0
Long-term income tax receivable	(841)	(490)
Long-term income tax payable and other long-term liabilities	854	769
Other	(46)	(58)
Increases (decreases) in cash from operating assets and liabilities:
Accounts receivable	(7,816)	(3,135)
Inventory	(6,579)	(2,427)
Other current assets	(1,003)	(1,250)
Accounts payable	2,160	1,200
Accrued expenses and other liabilities	(5,656)	(3,196)
Net cash (used in) provided by operating activities	(666)	5,524
Investing activities
Capital expenditures	(2,135)	(4,899)
Proceeds from sales of assets	1,000	335
Net cash used in investing activities	(1,135)	(4,564)
Financing activities
Proceeds from issuance of long-term debt	0	274,313
Payments on long-term debt	(715)	(284,551)
Deferred financing costs	0	(1,219)
Payments for public offering costs	0	(74)
Proceeds from stock option exercises	514	632
Proceeds from issuance of common stock	206	0
Payments for minimum statutory tax withholding related to net share settlement of equity awards	(709)	(355)
Net cash used in financing activities	(704)	(11,254)
Effect of foreign exchange rates on cash and cash equivalents	(46)	(2)
Net decrease in cash and cash equivalents	(2,551)	(10,296)
Cash and cash equivalents, beginning of period	76,290	51,178
Cash and cash equivalents, end of period	$ 73,739	$ 40,882

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Lantheus Holdings, Inc. and its direct and indirect wholly-owned subsidiaries and have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement have been included. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ended December 31, 2018 or any future period. The condensed consolidated balance sheet at December 31, 2017 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities Exchange Commission (“SEC”) on February 26, 2018. Certain immaterial amounts in the prior period condensed consolidated statement of cash flows have been reclassified to conform to the current period financial statement presentation.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Recent Accounting Pronouncements

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company’s condensed consolidated financial statements:



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted
ASU 2016-02, Leases (Topic 842)	This ASU supersedes existing guidance on accounting for leases in “Leases (Topic 840)” and generally requires all leases to be recognized in the statement of financial position. The provisions of ASU 2016-02 are effective for annual reporting periods beginning after December 15, 2018; early adoption is permitted. The provisions of this ASU are to be applied using a modified retrospective approach.	January 1, 2019	The Company is currently assessing the impact that this standard will have on its consolidated financial statements.



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Accounting Standards Adopted During the Three Months Ended March 31, 2018
ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting	This ASU clarifies when to account for a change to the terms or conditions of a share–based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, vesting conditions or classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new guidance will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017 for all entities.	January 1, 2018	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and related amendments	This ASU and related amendments affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards. The guidance in this ASU supersedes the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.	January 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s condensed consolidated balance sheets and statements of operations.

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Adoption of ASC Topic 606, “Revenue from Contracts with Customers”

The Company adopted ASC 606 on January 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption. The reported results for 2018 reflect the application of ASC 606 guidance while the reported results for 2017 were prepared under the guidance of ASC 605, Revenue Recognition (“ASC 605”). For the Company’s accounting policy for revenue recognition under ASC 605, refer to Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2017. The adoption of ASC 606 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the periods presented.

Revenue Recognition

In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services. To achieve this core principle, the Company applies the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation.

Disaggregation of Revenue

The following table summarizes revenue by revenue source for the three months ended March 31, 2018:



	Reportable Segments
Major Products/Service Lines (in thousands)	U.S.		International		Total
Product revenue, net⁽¹⁾	$	71,488	$	10,580	$	82,068
License and royalty revenues	—		562		562
Total revenues	$	71,488	$	11,142	$	82,630

________________________________


(1)	The Company’s principal products include DEFINITY, TechneLite and Xenon and are categorized within product revenue, net. The Company applies the same revenue recognition policies and judgments for all of its principal products.

Product Revenue, Net

The Company sells its products principally to distributors, radiopharmacies and directly to hospitals and clinics. The Company considers customer purchase orders, which in some cases are governed by master sales or group purchasing organization agreements, to be the contracts with a customer.

For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled.

The Company typically invoices customers upon satisfaction of identified performance obligations. As the Company’s standard payment terms are 30 to 60 days from invoicing, the Company has elected to use the significant financing component practical expedient under ASC 606-10-32-18.

The Company allocates the transaction price to each distinct product based on their relative standalone selling price. The product price as specified on the purchase order is considered the standalone selling price as it is an observable input which depicts the price as if sold to a similar customer in similar circumstances.

Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs upon delivery to the customer. Further, in determining whether control has transferred, the Company considers if there is a present right to payment and legal title, along with risks and rewards of ownership having transferred to the customer.

Frequently, the Company receives orders for products to be delivered over multiple dates that may extend across several reporting periods. The Company invoices for each delivery upon shipment and recognizes revenues for each distinct product delivered, assuming transfer of control has occurred.

The Company generally does not separately charge customers for shipping and handling costs, but any shipping and handling costs charged to customers are included in product revenue, net. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues.

Variable Consideration

Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established for discounts, returns, rebates and allowances that are offered within contracts between the Company and its customers. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as a current liability. Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration which is included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect product revenue and earnings in the period such variances become known.

Rebates and Allowances: The Company provides certain customers with rebates and allowances that are explicitly stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product revenue is recognized. The Company establishes a liability for such amounts, which is included in accrued expenses in the accompanying condensed consolidated balance sheets. These rebates and allowances result from performance-based offers that are primarily based on attaining contractually specified sales volumes and administrative fees the Company is required to pay to group purchasing organizations. The Company estimates the amount of rebates and allowances that are explicitly stated in the Company’s contracts based on a combination of actual purchases and an estimate of the customer’s buying patterns.

Product Returns: The Company generally offers customers a limited right of return due to non-conforming product. The Company estimates the amount of its product sales that may be returned by its customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized. The Company currently estimates product return liabilities using its historical product return information and considers other factors that it believes could significantly impact its expected returns, including product recalls. Reserves for product returns are not significant to the Company due to the nature of its products including radiopharmaceutical products with limited half-lives.

The following table summarizes activity for reserves relating to rebate and allowances (including group purchasing organization administrative fees and returns) for the three months ended March 31, 2018:



(in thousands)	Rebates and Allowances
Balance, January 1, 2018	$	2,860
Provision related to current period revenues	3,027
Adjustments relating to prior period revenues	(121		)
Payments or credits made during the period	(2,776		)
Balance, March 31, 2018	$	2,990

License and Royalty Revenues

The Company has entered into licensing agreements, which are within the scope of ASC 606, under which it licenses certain rights to third parties. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, up-front license fees; development, regulatory and commercial milestone payments; and royalties on net sales of licensed products. The Company also has distribution licenses which are treated as combined performance obligations with the delivery of its products and are classified as product revenue, net.

In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company performs the five-step approach stated earlier. The Company uses judgment in determining the number of performance obligations in a license agreement by assessing whether the license is distinct or should be combined with another performance obligation, as well as the nature of the license. As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include market conditions, reimbursement rates for personnel costs, development timelines and probabilities of regulatory success.

Licenses of intellectual property: If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition.

Milestone Payments: At the inception of each arrangement that includes development milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect license and royalty revenues and earnings in the period of adjustment. At March 31, 2018, the Company is constraining variable consideration related to milestone payments requiring regulatory approvals.

Royalty Revenues: For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Contract Costs

The Company recognizes an asset for incremental costs of obtaining a contract with a customer if it expects to recover those costs. The Company’s sales incentive compensation plans qualify for capitalization since these plans are directly related to sales achieved during a period of time. However, the Company has elected the practical expedient under ASC 340-40-25-4 to expense the costs as they are incurred within selling and marketing expenses since the amortization period is less than one year.

During the three months ended March 31, 2018, the Company recognized the following revenues:



(in thousands)	Amount
Remainder of amounts included in the contract liability at the beginning of the period	$	8
Performance obligations satisfied (or partially satisfied) in previous periods	$	—

The Company’s performance obligations are typically part of contracts that have an original expected duration of one year or less. As such, under the optional exemption provided by ASC 606-10-50-14, the Company is not disclosing the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially satisfied) as of the end of the reporting period.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability of fair value measurements, financial instruments are categorized based on a hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:


•	Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

•

Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).


•	Level 3 — Unobservable inputs that reflect a Company’s estimates about the assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data.

The Company’s financial assets measured at fair value on a recurring basis consist of money market funds. The Company invests excess cash from its operating cash accounts in overnight investments and reflects these amounts in cash and cash equivalents in the condensed consolidated balance sheets at fair value using quoted prices in active markets for identical assets.

The table below presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:



	March 31, 2018
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Money market	$	10,624	$	10,624	$	—	$	—
Total	$	10,624	$	10,624	$	—	$	—



	December 31, 2017
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Money market	$	8,700	$	8,700	$	—	$	—
Total	$	8,700	$	8,700	$	—	$	—

Nonrecurring Fair Value Measurements

As of December 31, 2017, the Company wrote down the value of land held for sale in the U.S. segment to its fair value, less estimated costs to sell, using level 3 inputs. See Note 7, “Property, Plant & Equipment, Net” for further discussion regarding land held for sale.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full year, adjusted for any discrete events which are recorded in the period they occur. The Company’s effective tax rate in fiscal 2018 differs from the U.S. federal statutory rate of 21% principally due to the impact of state taxes, uncertain tax positions, and losses in certain foreign jurisdictions for which no tax benefit is recorded. The Company’s effective rate in fiscal 2017 was impacted by the valuation allowance the Company had on all its U.S. deferred tax assets until the fourth quarter of fiscal 2017. Cumulative adjustments to the tax provision are recorded in the interim period in which a change in the estimated annual effective tax rate is determined. The Company’s income tax expense was $3.8 million and $0.8 million for the three months ended March 31, 2018 and 2017, respectively. On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act of 2017 (the “Act”). The Act is significant and has wide-ranging effects. The Company is still studying all of the ramifications of the Act, but expects the primary material impact of the Act to be the remeasurement of the Company’s deferred tax assets which was recorded in fiscal 2017 as a result of the reduction in U.S. corporate tax rates from 35% to 21%. As of December 31, 2017, the Company determined it had no accumulated unrepatriated foreign earnings, and therefore had recorded no liability for the repatriation transition tax. No changes have been made to these estimates. The Company is continuing to evaluate other changes resulting from the Act, including the impact of Global Intangible Low Tax Income, Base Erosion and Anti-abuse Tax and revisions to Section 162(m). The Company has incorporated estimates of these items in its fiscal 2018 effective tax rate and expects to complete its accounting for these items within the prescribed measurement period. The Company regularly assesses its ability to realize its deferred tax assets. Assessing the realizability of deferred tax assets requires significant management judgment. In determining whether its deferred tax assets are more-likely-than-not realizable, the Company evaluated all available positive and negative evidence, and weighed the objective evidence and expected impact.The Company released its full valuation allowance recorded against its domestic deferred tax assets during the year ended December 31, 2017. The Company continues to record a partial valuation allowance against its foreign net deferred tax assets. In connection with the Company’s acquisition of the medical imaging business from Bristol Myers Squibb (“BMS”) in 2008, the Company entered into a tax indemnification agreement with BMS related to certain tax obligations arising prior to the acquisition of the Company, for which the Company has the primary legal obligation. A long-term receivable is recorded to account for the expected value to the Company of future indemnification payments, net of actual U.S. federal tax benefits. The tax indemnification receivable is recognized within other long-term assets. The changes in the tax indemnification asset are recognized within other income in the condensed consolidated statement of operations. In accordance with the Company’s accounting policy, the change in the tax liability and penalties and interest associated with these obligations (net of any offsetting federal or state benefit) is recognized within income tax expense. Accordingly, as these reserves change, adjustments are included in income tax expense while the offsetting adjustment is included in other income. Assuming that the receivable from BMS continues to be considered recoverable by the Company, there will be minimal net effect on earnings and net cash outflows related to these liabilities.

Inventory

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following:



(in thousands)	March 31, 2018		December 31, 2017
Raw materials	$	11,178	$	10,447
Work in process	10,310		5,509
Finished goods	10,598		10,124
Total inventory	$	32,086	$	26,080

As of March 31, 2018 and December 31, 2017, the Company had $0.5 million and $1.1 million, respectively, of inventory classified within other long-term assets, which represent raw materials not expected to be used by the Company during the next twelve months.

Property, Plant & Equipment, Net

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant & Equipment, Net

Property, plant & equipment, net, consisted of the following:



(in thousands)	March 31, 2018			December 31, 2017
Land	$	13,450		$	13,450
Buildings	63,689			76,059
Machinery, equipment and fixtures	69,330			71,870
Computer software	20,280			20,271
Construction in progress	9,816			7,622
	176,565			189,272
Less: accumulated depreciation and amortization	(82,788		)	(96,273		)
Total property, plant & equipment, net	$	93,777		$	92,999

Depreciation and amortization expense related to property, plant & equipment, net, was $2.6 million and $5.1 million for the three months ended March 31, 2018 and 2017, respectively.

Long-Lived Assets Held for Sale

During the fourth quarter of 2017, the Company committed to a plan to sell a portion of its land in the U.S. segment. This event qualified for held for sale accounting and the land was written down to its fair value, less estimated costs to sell, which is classified in other current assets at December 31, 2017. During the three months ended March 31, 2018, the Company completed the sale of the land for proceeds of $1.0 million.

Asset Retirement Obligations

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

The Company considers its legal obligation to remediate its facilities upon a decommissioning of its radioactive-related operations as an asset retirement obligation. The Company has production facilities which manufacture and process radioactive materials at its North Billerica, Massachusetts and San Juan, Puerto Rico sites.

The Company is required to provide the U.S. Nuclear Regulatory Commission and Massachusetts Department of Public Health financial assurance demonstrating the Company’s ability to fund the decommissioning of its North Billerica, Massachusetts production facility upon closure, although the Company does not intend to close the facility. The Company has provided this financial assurance in the form of a $28.2 million surety bond.

The fair value of a liability for asset retirement obligations is recognized in the period in which the liability is incurred. As of March 31, 2018, the liability is measured at the present value of the obligation expected to be incurred, of approximately $26.9 million, and is adjusted in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying values of the related long-lived assets and depreciated over the assets’ useful lives.

The following table provides a summary of the changes in the Company’s asset retirement obligations:



(in thousands)	Amount
Balance at December 31, 2017	$	10,412
Accretion expense	290
Balance at March 31, 2018	$	10,702

Financing Arrangements

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Financing Arrangements

On March 30, 2017, the Company refinanced its previous $365 million seven-year term loan agreement (the facility thereunder, the “2015 Term Facility”) with a new five-year $275 million term loan facility (the “2017 Term Facility” and the loans thereunder, the “Term Loans”). In addition, the Company replaced its previous $50 million five-year asset based loan facility (the “ABL Facility”) with a new $75 million five-year revolving credit facility (the “2017 Revolving Facility” and, together with the 2017 Term Facility, the “2017 Facility”). The terms of the 2017 Facility are set forth in that certain Amended and Restated Credit Agreement, dated as of March 30, 2017 (the “Credit Agreement”), by and among Holdings, the Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. The 2017 Term Facility was issued net of a $0.7 million discount. The Company has the right to request an increase to the 2017 Term Facility or request the establishment of one or more new incremental term loan facilities, in an aggregate principal amount of up to $75.0 million, plus additional amounts, in certain circumstances.

The net proceeds of the 2017 Term Facility, together with approximately $15.3 million of cash on hand, were used to refinance in full the aggregate remaining principal amount of the loans outstanding under the 2015 Term Facility and pay related interest, transaction fees and expenses. No amounts were outstanding under the ABL Facility at that time. The Company accounted for the refinancing as both a debt extinguishment and debt modification by evaluating the refinancing on a creditor by creditor basis. The Company recorded a loss on extinguishment of debt of $2.2 million related to the write-off of unamortized debt issuance costs and incurred general and administrative expenses of $1.7 million related to third-party costs associated with the modified debt. In addition, the Company incurred and capitalized $1.6 million of new debt issuance costs related to the refinancing.

On November 29, 2017, the Company entered into Amendment No. 1 (the “Repricing Amendment”) to the 2017 Facility to, among other things, (i) reduce the applicable interest rate margins with respect to the LIBOR and Base Rate Term Loans (as defined in the Credit Agreement) and (ii) reduce the applicable interest rate margins with respect to the LIBOR and Base Rate Revolving Loans (as defined in the Credit Agreement). The Company accounted for the Repricing Amendment as both a debt extinguishment and debt modification by evaluating the refinancing on a creditor by creditor basis.

2017 Term Facility

The Term Loans under the 2017 Term Facility bear interest, with pricing based from time to time at the Company’s election at (i) LIBOR plus a spread of 3.75% or (ii) the Base Rate (as defined in the Credit Agreement) plus a spread of 2.75%. Interest is payable (i) with respect to LIBOR Term Loans, at the end of each Interest Period (as defined in the Credit Agreement) and (ii) with respect to Base Rate Term Loans, at the end of each quarter. At March 31, 2018, the Company’s interest rate under the 2017 Term Facility was 5.6%.

The Company is permitted to voluntarily prepay the Term Loans, in whole or in part. The 2017 Term Facility requires the Company to make mandatory prepayments of the outstanding Term Loans in certain circumstances. The 2017 Term Facility amortizes at 1.00% per year until its June 30, 2022 maturity date.

The Company’s maturities of principal obligations under the 2017 Term Facility are as follows as of March 31, 2018:



(in thousands)	Amount
Remainder of 2018	$	2,063
2019	2,750
2020	2,750
2021	2,750
2022	261,937
Total principal outstanding	272,250
Unamortized debt discount	(1,923		)
Unamortized debt issuance costs	(2,605		)
Total	267,722
Less: current portion	(2,750		)
Total long-term debt	$	264,972

2017 Revolving Facility

Under the terms of the 2017 Revolving Facility, the lenders thereunder agreed to extend credit to the Company from time to time until March 30, 2022 (the “Revolving Termination Date”) consisting of revolving loans (the “Revolving Loans” and, together with the Term Loans, the “Loans”) in an aggregate principal amount not to exceed $75 million (the “Revolving Commitment”) at any time outstanding. The 2017 Revolving Facility includes a $20 million sub-facility for the issuance of letters of credit (the “Letters of Credit”). The Letters of Credit and the borrowings under the 2017 Revolving Facility are expected to be used for working capital and other general corporate purposes.

The Revolving Loans under the 2017 Revolving Facility bear interest, with pricing based from time to time at the Company’s election at (i) LIBOR plus a spread of 3.00% or (ii) the Base Rate (as defined in the Credit Agreement) plus a spread of 2.00%. The 2017 Revolving Facility also includes an unused line fee, which is set at 0.38% while the Company’s secured leverage ratio (as defined in the Credit Agreement) is greater than 3.00 to 1.00 and 0.25% when the Company’s secured leverage ratio is less than or equal to 3.00 to 1.00.

The Company is permitted to voluntarily prepay the Revolving Loans, in whole or in part, or reduce or terminate the Revolving Commitment, in each case, without premium or penalty. On any business day on which the total amount of outstanding Revolving Loans and Letters of Credit exceeds the total Revolving Commitment, the Company must prepay the Revolving Loans in an amount equal to such excess. As of March 31, 2018, there were no outstanding borrowings under the 2017 Revolving Facility.

2017 Facility Covenants

The 2017 Facility contains a number of affirmative, negative, reporting and financial covenants, in each case subject to certain exceptions and materiality thresholds. The 2017 Facility requires the Company to be in quarterly compliance, measured on a trailing four quarter basis, with a financial covenant. The maximum consolidated leverage ratio permitted by the financial covenant is displayed in the table below:



Period	Consolidated Leverage Ratio
Q2 2018 through Q1 2019	4.75 to 1.00
Thereafter	4.50 to 1.00

The 2017 Facility contains usual and customary restrictions on the ability of the Company and its subsidiaries to: (i) incur additional indebtedness (ii) create liens; (iii) consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; (iv) sell certain assets; (v) pay dividends on, repurchase or make distributions in respect of capital stock or make other restricted payments; (vi) make certain investments; (vii) repay subordinated indebtedness prior to stated maturity; and (viii) enter into certain transactions with its affiliates.

Upon an event of default, the administrative agent under the Credit Agreement will have the right to declare the Loans and other obligations outstanding immediately due and payable and all commitments immediately terminated or reduced.

The 2017 Facility is guaranteed by Holdings and Lantheus MI Real Estate, LLC (“LMI-RE”), and obligations under the 2017 Facility are generally secured by first priority liens over substantially all of the assets of each of LMI, Holdings and LMI-RE (subject to customary exclusions set forth in the transaction documents) owned as of March 30, 2017 or thereafter acquired.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

The following table presents stock-based compensation expense recognized in the Company’s accompanying condensed consolidated statements of operations:



	Three Months Ended March 31,
(in thousands)	2018		2017
Cost of goods sold	$	229	$	139
Sales and marketing	302		124
General and administrative	980		551
Research and development	285		131
Total stock-based compensation expense	$	1,796	$	945

During the first quarter of 2018, the Company granted approximately 207,000 total stockholder return restricted stock awards (“TSR Awards”) that include a three-year market condition where the performance measurement period is three years. Vesting of the TSR Awards is based on the Company’s level of attainment of specified TSR targets relative to a specified index of companies for the respective three-year period and is also subject to the continued employment of the grantees. The number of shares that can be earned over the performance period ranges from 0% to 200% of the initial award. The fair value of these awards are based on a Monte Carlo simulation valuation model.

Net Income Per Common Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Net Income Per Common Share

A summary of net income per common share is presented below:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2018		2017
Net income	$	8,211	$	4,138

Basic weighted-average common shares outstanding	37,886		36,889
Effect of dilutive stock options	150		303
Effect of dilutive restricted stock	1,457		1,409
Diluted weighted-average common shares outstanding	39,493		38,601

Basic income per common share	$	0.22	$	0.11
Diluted income per common share	$	0.21	$	0.11

Antidilutive securities excluded from diluted net income per common share	86		387

Other Income

3 Months Ended

Mar. 31, 2018

Other Income and Expenses [Abstract]

Other Income

Other income consisted of the following:



	Three Months Ended March 31,
(in thousands)	2018		2017
Foreign currency gains	$	72	$	85
Tax indemnification income	841		490
Other	7		2
Total other income	$	920	$	577

Legal Proceedings and Contingencies	3 Months Ended
Legal Proceedings and Contingencies	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	Legal Proceedings and Contingencies From time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. In addition, the Company has in the past been, and may in the future be, subject to investigations by governmental and regulatory authorities, which expose it to greater risks associated with litigation, regulatory or other proceedings, as a result of which the Company could be required to pay significant fines or penalties. The costs and outcome of litigation, regulatory or other proceedings cannot be predicted with certainty, and some lawsuits, claims, actions or proceedings may be disposed of unfavorably to the Company. In addition, intellectual property disputes often have a risk of injunctive relief which, if imposed against the Company, could materially and adversely affect its financial condition or results of operations. As of March 31, 2018, the Company has no material ongoing litigation in which the Company was a party or any material ongoing regulatory or other proceedings and had no knowledge of any investigations by government or regulatory authorities in which the Company is a target that could have a material adverse effect on its current business. The Company is currently in arbitration with Pharmalucence in connection with a Manufacturing and Supply Agreement, dated November 12, 2013, under which Pharmalucence agreed to manufacture and supply DEFINITY for the Company. The commercial arrangement contemplated by that agreement was repeatedly delayed and ultimately never successfully realized. After extended settlement discussions between Sun Pharma, the ultimate parent of Pharmalucence, and the Company, which did not lead to a mutually acceptable outcome, on November 10, 2017, the Company filed an arbitration demand (and later an amended arbitration demand) with the American Arbitration Association against Pharmalucence, alleging breach of contract, breach of the covenant of good faith and fair dealing, tortious misrepresentation and violation of the Massachusetts Consumer Protection Law, also known as Chapter 93A. The Company is seeking monetary damages but cannot predict the outcome of this dispute resolution proceeding and whether the Company will be able to obtain any financial recovery as a result of this proceeding.

Segment Information

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Information

The Company reports two operating segments, U.S. and International, based on geographic customer base. The results of these operating segments are regularly reviewed by the Company’s chief operating decision maker, the President and Chief Executive Officer. The Company’s segments derive revenues through the manufacture, marketing, selling and distribution of medical imaging products, focused primarily on cardiovascular diagnostic imaging. All goodwill has been allocated to the U.S. operating segment. The Company does not identify or allocate assets to its segments.

Selected information regarding the Company’s segments is provided as follows:



	Three Months Ended March 31,
(in thousands)	2018				2017
Revenues from external customers
U.S.	$	71,488			$	71,027
International	11,142				10,332
Total revenues from external customers	$	82,630		—	$	81,359
Operating income
U.S.	$	14,156			$	11,168
International	981				759
Total operating income	15,137				11,927
Interest expense	4,050				5,420
Loss on extinguishment of debt	—				2,161
Other income	(920		)		(577		)
Income before income taxes	$	12,007			$	4,923

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Lantheus Holdings, Inc. and its direct and indirect wholly-owned subsidiaries and have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement have been included. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ended December 31, 2018 or any future period.

The condensed consolidated balance sheet at December 31, 2017 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities Exchange Commission (“SEC”) on February 26, 2018. Certain immaterial amounts in the prior period condensed consolidated statement of cash flows have been reclassified to conform to the current period financial statement presentation.

Recent Accounting Pronouncements

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company’s condensed consolidated financial statements:



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted
ASU 2016-02, Leases (Topic 842)	This ASU supersedes existing guidance on accounting for leases in “Leases (Topic 840)” and generally requires all leases to be recognized in the statement of financial position. The provisions of ASU 2016-02 are effective for annual reporting periods beginning after December 15, 2018; early adoption is permitted. The provisions of this ASU are to be applied using a modified retrospective approach.	January 1, 2019	The Company is currently assessing the impact that this standard will have on its consolidated financial statements.



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Accounting Standards Adopted During the Three Months Ended March 31, 2018
ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting	This ASU clarifies when to account for a change to the terms or conditions of a share–based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, vesting conditions or classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new guidance will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017 for all entities.	January 1, 2018	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and related amendments	This ASU and related amendments affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards. The guidance in this ASU supersedes the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.	January 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s condensed consolidated balance sheets and statements of operations.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Recent Accounting Pronouncements

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company’s condensed consolidated financial statements:



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted
ASU 2016-02, Leases (Topic 842)	This ASU supersedes existing guidance on accounting for leases in “Leases (Topic 840)” and generally requires all leases to be recognized in the statement of financial position. The provisions of ASU 2016-02 are effective for annual reporting periods beginning after December 15, 2018; early adoption is permitted. The provisions of this ASU are to be applied using a modified retrospective approach.	January 1, 2019	The Company is currently assessing the impact that this standard will have on its consolidated financial statements.



Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Accounting Standards Adopted During the Three Months Ended March 31, 2018
ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting	This ASU clarifies when to account for a change to the terms or conditions of a share–based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, vesting conditions or classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new guidance will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017 for all entities.	January 1, 2018	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and related amendments	This ASU and related amendments affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards. The guidance in this ASU supersedes the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.	January 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s condensed consolidated balance sheets and statements of operations.

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes revenue by revenue source for the three months ended March 31, 2018:



	Reportable Segments
Major Products/Service Lines (in thousands)	U.S.		International		Total
Product revenue, net⁽¹⁾	$	71,488	$	10,580	$	82,068
License and royalty revenues	—		562		562
Total revenues	$	71,488	$	11,142	$	82,630

________________________________


(1)	The Company’s principal products include DEFINITY, TechneLite and Xenon and are categorized within product revenue, net. The Company applies the same revenue recognition policies and judgments for all of its principal products.

Contract Liabilities



(in thousands)	Rebates and Allowances
Balance, January 1, 2018	$	2,860
Provision related to current period revenues	3,027
Adjustments relating to prior period revenues	(121		)
Payments or credits made during the period	(2,776		)
Balance, March 31, 2018	$	2,990

During the three months ended March 31, 2018, the Company recognized the following revenues:



(in thousands)	Amount
Remainder of amounts included in the contract liability at the beginning of the period	$	8
Performance obligations satisfied (or partially satisfied) in previous periods	$	—

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:



	March 31, 2018
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Money market	$	10,624	$	10,624	$	—	$	—
Total	$	10,624	$	10,624	$	—	$	—



	December 31, 2017
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Money market	$	8,700	$	8,700	$	—	$	—
Total	$	8,700	$	8,700	$	—	$	—

Inventory (Tables)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory consisted of the following:



(in thousands)	March 31, 2018		December 31, 2017
Raw materials	$	11,178	$	10,447
Work in process	10,310		5,509
Finished goods	10,598		10,124
Total inventory	$	32,086	$	26,080

Property, Plant & Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant & Equipment, Net

Property, plant & equipment, net, consisted of the following:



(in thousands)	March 31, 2018			December 31, 2017
Land	$	13,450		$	13,450
Buildings	63,689			76,059
Machinery, equipment and fixtures	69,330			71,870
Computer software	20,280			20,271
Construction in progress	9,816			7,622
	176,565			189,272
Less: accumulated depreciation and amortization	(82,788		)	(96,273		)
Total property, plant & equipment, net	$	93,777		$	92,999

Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Summary of Changes in Asset Retirement Obligations

The following table provides a summary of the changes in the Company’s asset retirement obligations:



(in thousands)	Amount
Balance at December 31, 2017	$	10,412
Accretion expense	290
Balance at March 31, 2018	$	10,702

Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Maturities of Principal Obligations Under New Term Facility

The Company’s maturities of principal obligations under the 2017 Term Facility are as follows as of March 31, 2018:



(in thousands)	Amount
Remainder of 2018	$	2,063
2019	2,750
2020	2,750
2021	2,750
2022	261,937
Total principal outstanding	272,250
Unamortized debt discount	(1,923		)
Unamortized debt issuance costs	(2,605		)
Total	267,722
Less: current portion	(2,750		)
Total long-term debt	$	264,972

Schedule of Term Facility Financial Covenant

The maximum consolidated leverage ratio permitted by the financial covenant is displayed in the table below:



Period	Consolidated Leverage Ratio
Q2 2018 through Q1 2019	4.75 to 1.00
Thereafter	4.50 to 1.00

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-Based Compensation Expense Recognized

The following table presents stock-based compensation expense recognized in the Company’s accompanying condensed consolidated statements of operations:



	Three Months Ended March 31,
(in thousands)	2018		2017
Cost of goods sold	$	229	$	139
Sales and marketing	302		124
General and administrative	980		551
Research and development	285		131
Total stock-based compensation expense	$	1,796	$	945

Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Summary of Net Income Per Common Share

A summary of net income per common share is presented below:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2018		2017
Net income	$	8,211	$	4,138

Basic weighted-average common shares outstanding	37,886		36,889
Effect of dilutive stock options	150		303
Effect of dilutive restricted stock	1,457		1,409
Diluted weighted-average common shares outstanding	39,493		38,601

Basic income per common share	$	0.22	$	0.11
Diluted income per common share	$	0.21	$	0.11

Antidilutive securities excluded from diluted net income per common share	86		387

Other Income (Tables)

3 Months Ended

Mar. 31, 2018

Other Income and Expenses [Abstract]

Schedule of Other Income

Other income consisted of the following:



	Three Months Ended March 31,
(in thousands)	2018		2017
Foreign currency gains	$	72	$	85
Tax indemnification income	841		490
Other	7		2
Total other income	$	920	$	577

Segment Information (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Schedule of Selected Information for Each Operating Segment

Selected information regarding the Company’s segments is provided as follows:



	Three Months Ended March 31,
(in thousands)	2018				2017
Revenues from external customers
U.S.	$	71,488			$	71,027
International	11,142				10,332
Total revenues from external customers	$	82,630		—	$	81,359
Operating income
U.S.	$	14,156			$	11,168
International	981				759
Total operating income	15,137				11,927
Interest expense	4,050				5,420
Loss on extinguishment of debt	—				2,161
Other income	(920		)		(577		)
Income before income taxes	$	12,007			$	4,923

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Disaggregation of Revenue [Line Items]
Total revenues	$ 82,630
Product revenue, net(1)
Disaggregation of Revenue [Line Items]
Total revenues	82,068
License and royalty revenues
Disaggregation of Revenue [Line Items]
Total revenues	562
U.S.
Disaggregation of Revenue [Line Items]
Total revenues	71,488
U.S. \| Product revenue, net(1)
Disaggregation of Revenue [Line Items]
Total revenues	71,488
U.S. \| License and royalty revenues
Disaggregation of Revenue [Line Items]
Total revenues	0
International
Disaggregation of Revenue [Line Items]
Total revenues	11,142
International \| Product revenue, net(1)
Disaggregation of Revenue [Line Items]
Total revenues	10,580
International \| License and royalty revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 562

Revenue from Contracts with Customers - Reserves Related to Rebate and Allowances (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 2,860
Provision related to current period revenues	3,027
Adjustments relating to prior period revenues	(121)
Payments or credits made during the period	(2,776)
Ending balance	$ 2,990

Revenue from Contracts with Customers - Contract Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Revenue from Contract with Customer [Abstract]
Remainder of amounts included in the contract liability at the beginning of the period	$ 8
Performance obligations satisfied (or partially satisfied) in previous periods	$ 0

Fair Value of Financial Instruments - Schedule of the Information about the Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Recurring basis - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 10,624	$ 8,700
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	10,624	8,700
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	10,624	8,700
Money market \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	10,624	8,700
Money market \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	0	0
Money market \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	$ 0	$ 0

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,796	$ 785

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 11,178	$ 10,447
Work in process	10,310	5,509
Finished goods	10,598	10,124
Total inventory	$ 32,086	$ 26,080

Inventory - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Other long-term assets
Inventory [Line Items]
Raw materials	$ 0.5	$ 1.1

Property, Plant & Equipment, Net - Schedule of Property, Plant & Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	$ 176,565	$ 189,272
Less: accumulated depreciation and amortization	(82,788)	(96,273)
Total property, plant & equipment, net	93,777	92,999
Land
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	13,450	13,450
Buildings
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	63,689	76,059
Machinery, equipment and fixtures
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	69,330	71,870
Construction in progress
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	9,816	7,622
Computer software
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	$ 20,280	$ 20,271

Property, Plant & Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property, Plant & Equipment [Line Items]
Proceeds from sales of assets	$ 1,000	$ 335
Property, plant and equipment
Property, Plant & Equipment [Line Items]
Depreciation and amortization	$ 2,600	$ 5,100

Asset Retirement Obligations - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Financial assurance in form of surety bond	$ 28.2
Asset retirement obligation liabilities expected, present value	$ 26.9

Asset Retirement Obligations - Summary of Changes in Company's Asset Retirement Obligations (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations, beginning balance	$ 10,412
Accretion expense	290
Asset retirement obligations, ending balance	$ 10,702

Financing Arrangements - Additional Information (Detail) - USD ($)		3 Months Ended
	Mar. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 2,200,000	$ 0	$ 2,161,000
Third-party costs associated with modified debt	1,700,000
Capitalized debt issuance costs	1,600,000
Revolving line of credit		0		$ 0
2015 Term Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 365,000,000
Debt instrument, term (in years)	7 years
Cash paid during the execution of refinancing	$ 15,300,000
2017 Term Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 275,000,000
Debt instrument, term (in years)	5 years
Debt instrument, discount amount	$ 700,000
Increase in aggregate principle amount	75,000,000
Amount outstanding		$ 272,250,000
Interest rate at end of period		5.60%
2017 Term Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (in percentage)		3.75%
2017 Term Facility \| Reference Rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percentage)		2.75%
Asset Based Loan Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 50,000,000
Debt instrument, term (in years)	5 years
2017 Revolving Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 75,000,000	$ 75,000,000
Debt instrument, term (in years)	5 years
2017 Revolving Facility \| Leverage Ratio Range One
Debt Instrument [Line Items]
Unused line of credit fee (in percentage)		0.38%
Debt instrument covenant leverage ratio		300.00%
2017 Revolving Facility \| Leverage Ratio Range Two
Debt Instrument [Line Items]
Unused line of credit fee (in percentage)		0.25%
2017 Revolving Facility \| Letter of Credit
Debt Instrument [Line Items]
Debt instrument, face amount		$ 20,000,000
2017 Revolving Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (in percentage)		3.00%
2017 Revolving Facility \| Reference Rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percentage)		2.00%

Financing Arrangements - Schedule of Maturities of Principal Obligations Under New Term Facility (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Less: current portion	$ (2,750)	$ (2,750)
Total long-term debt	264,972	$ 265,393
2017 Term Facility
Debt Instrument [Line Items]
Remainder of 2018	2,063
2019	2,750
2020	2,750
2021	2,750
2022	261,937
Total principal outstanding	272,250
Unamortized debt discount	(1,923)
Unamortized debt issuance costs	(2,605)
Total	267,722
Less: current portion	(2,750)
Total long-term debt	$ 264,972

Financing Arrangements - Schedule of Term Facility Financial Covenant (Detail) - 2017 Facility	3 Months Ended
	Mar. 31, 2018
Q2 2018 through Q1 2019
Debt Instrument [Line Items]
Consolidated Leverage Ratio	475.00%
Thereafter
Debt Instrument [Line Items]
Consolidated Leverage Ratio	450.00%

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,796	$ 945
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	229	139
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	302	124
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	980	551
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 285	$ 131

Stock-based Compensation - Additional Information (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market condition period	3 years
Performance measurement period	3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period range (in percent)	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period range (in percent)	200.00%
Restricted Stock Awards, Including Three Year Market Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (in shares)	207

Net Income Per Common Share - Summary of Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Line Items]
Net income	$ 8,211	$ 4,138
Basic weighted-average common shares outstanding (in shares)	37,886	36,889
Effect of dilutive stock options (in shares)	150	303
Effect of dilutive restricted stock (in shares)	1,457	1,409
Diluted weighted-average common shares outstanding (in shares)	39,493	38,601
Basic income per common share (in dollars per share)	$ 0.22	$ 0.11
Diluted income per common share (in dollars per share)	$ 0.21	$ 0.11
Stock options \| Nonvested restricted stock
Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted income per common share (in shares)	86	387

Other Income - Schedule of Other Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Foreign currency gains	$ 72	$ 85
Tax indemnification income	841	490
Other	7	2
Other income	$ 920	$ 577

Segment Information - Additional Information (Detail)	3 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2018 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Schedule of Selected Information for Each Business Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenues from external customers	$ 82,630	$ 81,359
Operating income
Operating income	15,137	11,927
Interest expense	4,050	5,420
Loss on extinguishment of debt	0	2,161
Other income	(920)	(577)
Income before income taxes	12,007	4,923
U.S.
Segment Reporting Information [Line Items]
Revenues from external customers	71,488	71,027
Operating income
Operating income	14,156	11,168
International
Segment Reporting Information [Line Items]
Revenues from external customers	11,142	10,332
Operating income
Operating income	$ 981	$ 759