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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (105,897) $ (87,154) $ (59,853)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 3,807 2,841 3,324
Stock-based compensation expense 19,134 10,337 3,796
Change in fair value in derivative liability and redeemable convertible preferred stock warrants 107 283 (199)
Non-cash lease adjustment 13 1,478 (345)
Inventory write-down 995 62 650
Loss on loan extinguishment 0 3,258 0
Changes in operating assets and liabilities:      
Accounts receivable, net (33,103) (10,809) (2,914)
Inventory (9,751) (15,251) (6,124)
Prepaid expenses and other current assets 1,051 (1,880) (2,631)
Other assets (868) (51) 0
Accounts payable 5,789 3,959 812
Accrued compensation 3,438 6,972 1,834
Accrued interest expense 125 757 1,045
Deferred revenue 3,317 1,830 792
Operating lease liabilities 4,989 327 0
Other liabilities (1,149) 2,659 2,479
Net cash used in operating activities (108,003) (80,382) (57,334)
Cash flows from investing activities:      
Purchases of property and equipment (25,206) (2,653) (592)
Net cash used in investing activities (25,206) (2,653) (592)
Cash flows from financing activities:      
Proceeds from issuance of common stock under employee stock purchase plan 3,610 2,409 0
Proceeds from issuance of common stock from the exercise of stock options 2,480 4,008 4,184
Proceeds from issuance of common stock from the initial public offering, net of underwriting discounts, commissions and offering expenses 0 0 172,364
Proceeds from issuance of common stock, net of issuance costs 161,705 0 0
Proceeds from the exercise of redeemable convertible preferred stock warrants 0 0 858
Proceeds from issuance of long-term debt, net of issuance costs 0 51,195 0
Payment of principal on long-term debt 0 (50,000) 0
Payment of final payment fee 0 (3,000) 0
Payment of prepayment fee 0 (1,000) 0
Net cash provided by financing activities 167,795 3,612 262,116
Net increase (decrease) in cash, cash equivalents and restricted cash 34,586 (79,423) 204,190
Beginning of the period 225,674 305,097 100,907
End of the period 260,260 225,674 305,097
Reconciliation of cash, cash equivalents and restricted cash to balance sheets:      
Cash and cash equivalents 257,222 221,859 304,320
Restricted cash 3,038 3,815 777
Cash, cash equivalents and restricted cash in balance sheets 260,260 225,674 305,097
Supplemental cash flow information      
Interest paid 4,056 4,291 4,750
Non-cash investing and financing activities      
Transfer of evaluation units from inventory to property and equipment, net 347 124 (679)
Property and equipment included in accounts payable and accrued expenses 1,863 3,544 210
Right-of-use assets obtained in exchange for operating lease liabilities 0 22,854 0
Conversion of redeemable convertible preferred stock to common stock 0 0 329,534
Series G      
Cash flows from financing activities:      
Proceeds from issuance of Series G redeemable convertible preferred stock, net of issuance costs $ 0 $ 0 $ 84,710