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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ 293,156 $ 76,713 $ (75,240)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,812 4,296 4,273
Amortization of right-of-use assets 2,856 2,715 2,562
Inventory write-off 34,288 2,588 0
Loss (gain) on disposal of property and equipment and from lease termination 0 47 (98)
Amortization of premiums (accretion of discounts) on marketable securities (4,181) 470 535
Realized gain on available-for-sale securities 0 0 (57)
Loss on debt extinguishment 0 5,232 0
Change in fair value of warrant liability (1,801) 49,354 (4,124)
Stock compensation expense 32,915 21,285 13,484
Cost of sales - amortization of intangible assets 0 0 2,500
Non-cash interest expense 1,088 1,608 2,542
Tenant improvements provided by the landlord 0 0 1,137
Gain on sale of assets (1,000) (1,000) (6,851)
Changes in operating assets and liabilities:      
Accounts and other receivables, net (15,699) (109,155) (13,775)
Inventories, net (32,399) (234) (22,357)
Prepaid manufacturing 159,655 (130,232) (29,423)
Prepaid expenses and other current assets (11,865) (64,558) (1,826)
Other assets 87 175 (229)
Accounts payable 691 (767) (3,448)
CEPI accrual (Note 9) (21,110) 128,848 0
Lease liabilities (3,125) (3,234) (2,872)
Deferred revenue (349,864) 311,652 38,212
Accrued and other liabilities (24,788) 39,725 2,804
Net cash provided by (used in) operating activities 62,716 335,528 (92,251)
Investing activities      
Acquisition of technology licenses 0 0 (7,000)
Purchases of marketable securities (632,306) (164,928) (201,786)
Proceeds from maturities and redemptions of marketable securities 322,450 187,630 148,565
Proceeds from sales of marketable securities 0 0 30,910
Purchases of property and equipment, net (7,139) (9,477) (4,072)
Proceeds from sale of assets, net of transaction costs 1,000 1,000 6,851
Net cash (used in) provided by investing activities (315,995) 14,225 (26,532)
Financing activities      
Proceeds from issuances of common stock, net 0 28,156 108,538
Proceeds from issuance of Convertible Notes, net 0 219,822 0
Purchases of capped call options 0 (27,240) 0
Repayment of long-term debt 0 (190,194) 0
Proceeds from warrants exercises 8,455 17,814 0
Proceeds from exercise of stock options and release of restricted stock awards, net 9,639 6,577 289
Proceeds from Employee Stock Purchase Plan 1,431 841 672
Net cash provided by financing activities 19,525 55,776 109,499
Effect of exchange rate changes on cash and cash equivalents, and restricted cash (443) (1,431) 1,494
Net increase (decrease) in cash and cash equivalents, and restricted cash (234,197) 404,098 (7,790)
Cash and cash equivalents, and restricted cash at beginning of year 436,408 32,310 40,100
Cash and cash equivalents, and restricted cash at end of year 202,211 436,408 32,310
Supplemental disclosure of cash flow information      
Cash paid during the year for income taxes 2,208 1,312 0
Cash paid during the year for interest 5,638 9,815 16,541
Non-cash investing and financing activities:      
Purchases of property and equipment, not yet paid 1,015 591 361
Right-of-use assets obtained in exchange for operating lease liabilities $ 2,848 $ 2,468 $ 0