XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ (8,721) $ (24,332)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,124 1,013
Amortization of right-of-use assets 824 642
Accretion of discounts on marketable securities (4,528) (3,498)
Sublease termination loss (Note 5) 4,765 0
Stock-based compensation expense 13,014 10,034
Bad debt expense (Note 6) 0 12,313
Non-cash interest expense 1,695 1,686
Inventory write-off 1,264 0
Changes in operating assets and liabilities:    
Accounts and other receivables, net (1,621) 30,336
Inventories (9,780) 1,753
Prepaid expenses and other current assets (4,800) (1,304)
Other assets 118 677
Accounts payable (2,640) 4,096
Lease liabilities (1,025) (793)
Accrued and other liabilities (6,368) (5,001)
Net cash (used in) provided by operating activities (16,679) 27,622
Investing activities    
Purchases of marketable securities (150,685) (185,301)
Proceeds from maturities and redemption of marketable securities 154,265 134,250
Purchases of property and equipment, net (749) (1,283)
Net cash provided by (used in) investing activities 2,831 (52,334)
Financing activities    
Proceeds from exercise of stock options 1,635 239
Proceeds from Employee Stock Purchase Plan 904 777
Payments for taxes related to net share settlement of restricted stock units (6,742) (4,106)
Net cash used in financing activities (4,203) (3,090)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash (201) 151
Net decrease in cash and cash equivalents, and restricted cash (18,252) (27,651)
Cash and cash equivalents, and restricted cash at beginning of period 150,556 202,211
Cash and cash equivalents, and restricted cash at end of period 132,304 174,560
Supplemental disclosure of cash flow information    
Cash paid during the period for income taxes 949 32
Reclassification of contract asset from other current assets to other assets 0 71,307
Reclassification of CEPI accrual to CEPI accrual long-term 0 (60,337)
Non-cash investing and financing activities:    
Purchases of property and equipment, not yet paid 355 926
Right-of-use assets obtained in exchange of operating lease liabilities $ 0 $ 278