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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (51,907) $ (48,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,907 17,885
Stock-based compensation 22,318 17,322
Amortization of debt discount and debt issuance costs 2,418 1,058
Amortization of right-of-use assets 1,271 1,031
Write-down for excess and obsolete inventories 3,571 2,979
Loss on disposal of assets 1,563 832
Loss on debt extinguishment 17,576 0
Gain on derivative liability (17,400) 0
Other 4,252 1,655
Changes in operating assets and liabilities:    
Accounts receivable (10,282) (17,058)
Inventories 1,243 (19,514)
Prepaid expenses and other current assets (807) 812
Other assets 107 (141)
Accounts payable (11,918) 6,780
Accrued expenses 13,938 (2,551)
Lease liabilities (1,349) (1,047)
Contract liabilities 761 (184)
Other long-term liabilities (301) 198
Net cash used in operating activities (5,039) (38,438)
Investing activities:    
Purchase of property and equipment (9,934) (31,312)
Purchase of intangible assets (1,678) (2,306)
Net cash used in investing activities (11,612) (33,618)
Financing activities:    
Proceeds from issuance of convertible notes, net 392,850 0
Repurchase of convertible notes (268,231) 0
Repayment of revolving credit facility (52,800) (42,000)
Purchase of capped calls (42,485) 0
Proceeds from revolving credit facility 4,092 42,000
Net cash paid for common stock exercises (3,003) (4,697)
Other 336 327
Net cash provided by (used in) financing activities 30,759 (4,370)
Effect of exchange rate changes on cash 296 (459)
Net change in cash and cash equivalents 14,404 (76,885)
Cash and cash equivalents at beginning of period 138,840 220,970
Cash and cash equivalents at end of period 153,244 144,085
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,530 5,463
Supplemental disclosure of noncash activities:    
Financed insurance 1,347 1,156
Purchases of property and equipment in accounts payable and accrued expenses 277 5,795
Purchase of intangible assets in accrued expenses 2,631 0
Recognition of derivative liability $ 124,062 $ 0