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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 698,572 $ 525,540
Short-term marketable debt securities 0 314,438
Accounts receivable, net 115,426 110,253
Inventory, net 77,256 71,083
Prepaid expenses and other current assets, net 35,772 33,800
Total current assets 927,026 1,055,114
Restricted cash 105,281 104,215
Property and equipment, net 129,294 136,813
Right-of-use assets, net 140,500 142,265
Intangible assets, net 6,280 6,760
Goodwill 3,290 3,290
Other assets, net 32,555 37,152
Total Assets 1,344,226 1,485,609
Current liabilities:    
Accounts payable 49,770 38,551
Accrued compensation 63,678 83,219
Accrued expenses 76,003 68,345
Deferred revenue 36,302 35,468
Total current liabilities 225,753 225,583
Convertible senior notes, net, principal amount of $1,090,660 and $1,150,000 as of March 31, 2025 and December 31, 2024, respectively 1,116,339 1,142,547
Long-term operating lease liabilities 160,378 164,292
Other long-term liabilities 92,545 92,834
Total Liabilities 1,595,015 1,625,256
Commitments and contingencies
Stockholders’ deficit:    
Preferred stock, par value of $0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2025 and December 31, 2024 0 0
Common stock, par value of $0.00001 per share; 350,000,000 shares authorized; 124,623,517 and 123,994,006 shares issued as of March 31, 2025 and December 31, 2024; and 123,647,166 and 123,994,006 shares outstanding as of March 31, 2025 and December 31, 2024, respectively 1 1
Treasury stock, at cost, 976,351 shares as of March 31, 2025 (45,010) 0
Additional paid-in capital 2,472,272 2,443,788
Accumulated other comprehensive loss (4,658) (5,201)
Accumulated deficit (2,673,394) (2,578,235)
Total Stockholders’ Deficit (250,789) (139,647)
Total Liabilities and Stockholders’ Deficit $ 1,344,226 $ 1,485,609