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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (104,813) $ (54,880)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bargain purchase gain (25,213) 0
Stock-based compensation expense 24,262 9,648
Amortization of acquired intangible assets 3,533 8,400
Depreciation and amortization 9,375 2,874
Accretion of discount on short-term investments, net (6,303) (321)
Non-cash lease expense 4,348 2,885
Provision for excess and obsolete inventory 1,991 963
Change in fair value of warrants (474)  
Other non-cash items 1,111 611
Changes in assets and liabilities:    
Accounts receivable, net 2,272 677
Inventory (14,910) (3,258)
Prepaid expenses and other assets (2,718) 749
Accounts payable (12,887) (484)
Accrued liabilities 3,450 5,448
Deferred revenue (3,572) 218
Operating lease liabilities (4,414) (2,802)
Other liabilities (4,433) 46
Net cash used in operating activities (129,395) (29,226)
Investing activities    
Cash and restricted cash acquired in Merger 280,033  
Purchases of short-term investments (226,612) (55,857)
Proceeds from sales and maturities of investments 289,000 91,964
Purchases of property and equipment (4,973) (2,753)
Net cash provided by investing activities 337,448 33,354
Financing activities    
Repayment of term loan and convertible notes (8,192) (833)
Payment of term loan fee (545)  
Repurchase of common stock (40,490) (5,240)
Proceeds from ESPP stock issuance 425 326
Payments for taxes related to net share settlement of equity awards and other (414) (139)
Proceeds from exercise of stock options 1,120 80
Net cash used in financing activities (48,096) (5,806)
Effect of foreign exchange rate fluctuations on cash and cash equivalents (518) (196)
Net increase in cash, cash equivalents and restricted cash 159,439 (1,874)
Cash, cash equivalents and restricted cash at beginning of period 52,499 82,324
Cash, cash equivalents and restricted cash at end of period 211,938 80,450
Supplemental disclosures of cash flow information    
Equity consideration transferred in connection with Merger [1] 444,219  
Cash paid for interest 1,644 2,171
Cash paid for income taxes, net of refunds 407 629
Non-cash right-of-use assets and lease liabilities 183 226
Asset retirement obligations $ 777 $ 739
[1] Equity consideration transferred in connection with the Merger included 26,367 shares of common stock that were issued to a related party. See Note 17, Related Parties