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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (331,647) $ (157,771) $ (48,511)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 18,654 10,375 5,604
Non-cash research and development arrangements 520 520 520
Stock-based compensation 106,878 69,743 31,456
(Gain) loss on change in fair value of warrant liabilities 117,107 19,206 (30,136)
Amortization of premiums and accretion of discounts on available-for-sale securities (8,804) (9,746) (1,577)
Other, net 4,803 1,474 441
Changes in operating assets and liabilities:      
Accounts receivable 1,609 (8,175) (1,510)
Prepaid expenses and other current assets (15,200) (14,413) (7,012)
Accounts payable (601) 2,188 1,060
Accrued expenses and other current liabilities (411) 3,319 1,344
Unearned revenue (1,752) 2,604 3,892
Other assets and liabilities 3,161 1,865 (269)
Net cash provided by (used in) operating activities (105,683) (78,811) (44,698)
Cash flows from investing activities:      
Purchases of property and equipment (17,992) (13,703) (9,336)
Capitalized software development costs (3,905) (4,558) (2,179)
Intangible asset acquisition costs (1,672) (1,288) (1,049)
Purchases of available-for-sale securities (296,329) (298,445) (605,689)
Maturities of available-for-sale securities 418,082 386,760 310,045
Businesses acquired (15,454) 0 (848)
Net cash provided by (used in) investing activities 82,730 68,766 (309,056)
Cash flows from financing activities:      
Proceeds from stock options exercised 8,012 1,954 1,059
Proceeds from public warrants exercised 33,437 37 17
Other financing, net 238 (230) 20
Net cash provided by (used in) financing activities 41,687 1,761 1,096
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 25 (2) 0
Net change in cash, cash equivalents and restricted cash 18,759 (8,286) (352,658)
Cash, cash equivalents and restricted cash at the beginning of the period 38,081 46,367 399,025
Cash, cash equivalents and restricted cash at the end of the period 56,840 38,081 46,367
Supplemental disclosures of non-cash investing and financing transactions      
Property and equipment purchases in accounts payable and accrued expenses 1,060 773 485
Intangible asset purchases in accounts payable and accrued expenses 77 254 164
Operating lease right-of-use assets subject to lease liability 6,129 2,380 0
Remeasurement of operating lease right-of-use assets due to lease modification 0 (849) 0
Noncash reclassification of warrant liabilities to equity upon exercise 69,423 20 8
Bonus settled in restricted stock units 11,443 3,923 473
Net share settled stock option exercises $ 1,016 $ 291 $ 0