XML 14 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss before allocation to noncontrolling interest $ (63,628) $ (39,804)
Adjustments to reconcile net loss before noncontrolling interest to cash used in operating activities:    
Depreciation and amortization 10,958 19,945
Amortization of debt issuance costs 309 900
Loss (gain) on remeasurement of warrant liabilities 3,206 (18,214)
Stock-based compensation 7,826 4,933
Paid-in-kind ("PIK") interest expense 497 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 10,611 (8,306)
Accounts payable and accrued expenses 715 (8,396)
Operating lease right-of-use assets and operating lease liabilities (30) (8)
Contract liabilities (210) 0
Other assets and liabilities 1,200 828
Net cash used in operating activities (28,546) (48,122)
Cash flows from investing activities:    
Purchase of property and equipment (120,456) (39,568)
Net cash used in investing activities (120,456) (39,568)
Cash flows from financing activities:    
Proceeds from debt 449,248 110,000
Repayments of debt (65) (62)
Payment for debt issuance costs (6,400) (5,162)
Proceeds from issuance of common stock 56,265 108,100
Payments for third party equity issuance costs (1,463) (382)
Issuance of equity under employee stock plan 4,181 0
Employee taxes paid for stock-based compensation awards (1,373) (314)
Purchase of capped call transactions (44,528) 0
Net cash provided by financing activities 455,865 212,180
Effect of exchange rate changes on cash, cash equivalents and restricted cash 61 (147)
Net increase in cash, cash equivalents and restricted cash 306,924 124,343
Cash and cash equivalents and restricted cash, beginning of period 567,534 88,097
Cash and cash equivalents and restricted cash, end of period 874,458 212,440
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued expenses 12,906 5,734
PIK interest paid through issuance of PIK notes 497 0
Convertible Notes Settled by Issuance of Common Stock 139,620 0
Interest 3,887 2,205
Income taxes, net $ 700 $ 710