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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 284,434 $ 263,351
Short-term investments 582,056 734,493
Total cash, cash equivalents and short-term investments 866,490 997,844
Accounts receivable, net of allowance for credit losses of $0 and $0, respectively (including related party) 14,549 10,029
Inventories 116,699 95,182
Government grant receivable 7,846 19,302
Prepaid expenses and other current assets 11,599 8,820
Total current assets 1,017,183 1,131,177
Non-current assets    
Property, plant and equipment, net 1,230,517 1,158,054
Operating lease right-of-use assets 9,004 10,065
Inventories 19,825 13,350
Equity method investment 8,962 9,673
Intangible assets, net 7,970 8,881
Other non-current assets 6,825 5,252
Total non-current assets 1,283,103 1,205,275
Total assets 2,300,286 2,336,452
Current liabilities    
Accounts and construction payable 21,711 27,995
Accrued liabilities 66,224 73,939
Deferred revenue 50,000 0
Other current liabilities 8,854 6,616
Total current liabilities 146,789 108,550
Non-current liabilities    
Asset retirement obligations 5,856 5,518
Environmental obligations 16,506 16,545
Long-term debt, net 937,634 681,980
Operating lease liabilities 6,016 6,829
Deferred government grant 19,836 17,433
Deferred income taxes 98,541 130,793
Other non-current liabilities 4,568 3,025
Total non-current liabilities 1,088,957 862,123
Total liabilities 1,235,746 970,673
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock ($0.0001 par value, 50,000,000 shares authorized, none issued and outstanding in either period) 0 0
Common stock ($0.0001 par value, 450,000,000 shares authorized, 178,439,486 and 178,082,383 shares issued, and 163,189,704 and 178,082,383 shares outstanding, as of September 30, 2024, and December 31, 2023, respectively) 18 17
Additional paid-in capital 948,687 979,891
Retained earnings 342,644 385,726
Accumulated other comprehensive income 296 145
Treasury stock, at cost, 15,249,782 and 0 shares, respectively (227,105) 0
Total stockholders’ equity 1,064,540 1,365,779
Total liabilities and stockholders’ equity $ 2,300,286 $ 2,336,452