XML 14 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net income/(loss) $ 81,339 $ (161,525)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:    
Share-based compensation expense 82,757 87,814
Loss on extinguishment of development liability   1,949
Depreciation expense 1,231 1,350
Amortization of discounts for credit facility 1,602 742
Amortization of discounts for convertible notes 239 230
Accretion of discount to development liability   8,936
Changes in operating assets and liabilities:    
Accounts receivable (80,605) (72,569)
Inventory (6,609) (20,776)
Prepaid assets (13,157) 15,022
Other current assets 1,642 10,651
Other assets (4,181) (81)
Right-of-use assets and lease liabilities 109 (7)
Accounts payable 28 (399)
Accrued expenses (198) 12,072
Other current liabilities 0 1,903
Other liabilities (4,694) 7,462
Net cash provided by/(used in) operating activities 59,503 (107,226)
Investing Activities    
Purchase of property and equipment (205) (383)
Net cash used in investing activities (205) (383)
Financing Activities    
Proceeds from credit facility   365,454
Payment of issuance cost for credit facility   (1,589)
Repayment of development liability   (326,533)
Proceeds from settlement of capped call   98,763
Proceeds from exercise of stock options 5,445 13,995
Proceeds from issuance of common stock under employee stock purchase plan 2,191 3,193
Payments of employee tax withholding related to equity-based compensation (11) (42)
Net cash provided by financing activities 7,625 153,241
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,066 306
Net (decrease)/ increase in cash, cash equivalents and restricted cash 67,989 45,938
Cash, cash equivalents and restricted cash at beginning of period 412,612 352,299
Cash, cash equivalents and restricted cash at end of period 480,601 398,237
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 479,171 396,864
Restricted cash 1,430 1,373
Total cash, cash equivalents, and restricted cash 480,601 398,237
Supplemental Disclosure of Financing Activities    
Cash paid for interest 31,888 19,446
Issuance costs for credit facility incurred but not yet paid   5,625
Lease assets obtained in exchange for operating lease liabilities 6,457  
Cash paid for income taxes $ 847 $ 600