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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (70,845) $ (117,741)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing 1,665 2,080
Depreciation and amortization 6,506 5,691
Stock-based compensation 65,688 67,982
Non-cash changes in the fair value of contingent consideration payable 0 2,583
Foreign currency remeasurement loss 15,167 18,121
Deferred taxes 0 (4,939)
Other 7,048 2,360
Changes in operating assets and liabilities:    
Accounts receivable (9,090) (8,614)
Inventories (61,632) (42,233)
Prepaid expenses and other current assets 28,216 (26,010)
Accounts payable, accrued expenses, and other current liabilities (11,483) 41,101
Other non-current assets and liabilities (1,215) (4,993)
Payment of contingent consideration 0 (7,937)
Net cash used in operating activities (29,975) (72,549)
Investing activities    
Sale and redemption of marketable securities 101,875 180,828
Purchases of marketable securities (78,778) (53,098)
Capital expenditures (3,265) (5,709)
Net cash provided by investing activities 19,832 122,021
Financing activities    
Payment of finance leases (54) (82)
Withholding taxes paid on vested restricted stock units (21,197) (16,355)
Proceeds from stock options exercised, net 6,122 7,847
Proceeds from warrants exercised, net 0 12
Proceeds from the issuance of shares in connection with at-the-market offering, net of issuance costs 19,153 63,108
Payment of contingent consideration 0 (1,063)
Net cash provided by financing activities 4,024 53,467
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (7,138) 10,218
Net (decrease) increase in cash, cash equivalents, and restricted cash at the end of the period (13,257) 113,157
Cash, cash equivalents, and restricted cash at the beginning of period 250,077 153,115
Cash, cash equivalents, and restricted cash at the end of period 236,820 266,272
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 47,587 35,448
Cash paid for taxes 2,729 6,473
Tenant improvements paid through lease incentives 217 0
Capital expenditures unpaid at the end of period $ 168 $ 877