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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net loss $ (96,099) $ (8,721)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,173 1,124
Amortization of right-of-use assets 863 824
Inventory write off 3,976 1,264
Sublease termination loss (Note 5) 0 4,765
Accretion of discounts on marketable securities (2,137) (4,528)
Stock-based compensation expense 14,455 13,014
Bad debt expense 10,970 0
Non-cash interest expense 1,691 1,695
Loss on debt extinguishment 82,095 0
Changes in operating assets and liabilities:    
Accounts and other receivables, net (9,651) (1,621)
Inventories (8,325) (9,780)
Prepaid expenses and other current assets (5,518) (4,682)
Accounts payable (4,668) (2,640)
Lease liabilities (1,101) (1,025)
Accrued and other liabilities (7,363) (6,368)
Net cash used in operating activities (19,639) (16,679)
Investing activities    
Purchases of marketable securities (93,697) (150,685)
Proceeds from maturities and redemption of marketable securities 104,535 154,265
Purchases of property and equipment, net (3,928) (749)
Net cash provided by investing activities 6,910 2,831
Financing activities    
Proceeds from issuance of Convertible Notes (Note 7) 39,708 0
Payment for debt issuance costs (Note 7) (3,938) 0
Payments for debt extinguishment (Note 7) (80,938) 0
Proceeds from unwind of capped call options (Note 7) 46,554 0
Payments for repurchase of common stock (Note 11) (29,465) 0
Proceeds from exercise of stock options 6,503 1,635
Proceeds from Employee Stock Purchase Plan 835 904
Payments for taxes related to net share settlement of restricted and performance stock units (11,141) (6,742)
Net cash used in financing activities (31,882) (4,203)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 458 (201)
Net decrease in cash and cash equivalents, and restricted cash (44,153) (18,252)
Cash and cash equivalents, and restricted cash at beginning of period 96,154 150,556
Cash and cash equivalents, and restricted cash at end of period 52,001 132,304
Supplemental disclosure of cash flow information    
Cash paid during the period for income taxes 413 949
Cash paid during the period for interest 1,518 0
Non-cash investing and financing activities:    
Purchases of property and equipment, not yet paid $ 2,046 $ 355