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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net (loss) income before redeemable non-controlling interest $ (58,408) $ (59,797)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation, amortization and accretion of debt discount 18,442 18,198
Stock-based compensation 18,282 20,061
Loss on short-term investments 6 0
Non-cash operating lease expense 4,025 0
Provision for inventory obsolescence and revaluation 4,550 97
Provision for bad debts 100 1,042
Loss (gain) on the disposition of businesses, property, equipment and other assets 57 0
Benefit for deferred income taxes and reserve adjustments 0 628
Loss on equity method investment 142 0
Asset impairment 1,187 24
Changes in operating accounts:    
Accounts receivable (2,597) (6,173)
Inventories (24,469) (16,609)
Prepaid expenses and other current assets (4,556) (2,981)
Accounts payable 4,381 6,168
Deferred revenue and customer deposits 1,870 (704)
Accrued and other liabilities (6,836) 1,618
All other operating activities (2,445) 217
Net cash (used in) provided by operating activities (46,269) (38,211)
Cash flows from investing activities:    
Purchases of property and equipment (13,549) (10,368)
Purchases of short-term investments 0 (384,450)
Sales and maturities of short-term investments 179,790 41,044
Acquisitions and other investments, net of cash acquired (15,654) (83,312)
Net cash provided by (used in) investing activities 150,587 (437,086)
Cash flows from financing activities:    
Debt issuance costs 0 (16)
Purchase of non-controlling interests 0 (2,300)
Taxes paid related to net-share settlement of equity awards (4,564) (10,047)
Other financing activities (362) (324)
Net cash (used in) provided by financing activities (4,926) (12,687)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 645 (2,047)
Net (decrease) increase in cash, cash equivalents and restricted cash 100,037 (490,031)
Cash, cash equivalents and restricted cash at the beginning of the year [1] 391,975 789,970
Cash, cash equivalents and restricted cash at the end of the year [1] 492,012 299,939
Supplemental cash flow information    
Lease assets obtained in exchange for new lease liabilities 26,368 1,922
Cash interest payments 95 55
Cash income tax payments, net 4,013 8,496
Transfer of equipment from inventory to property and equipment, net [2] $ 2,360 $ 21
[1] The amounts for cash and cash equivalents and restricted cash shown above include restricted cash of $1,277 and $114 as of June 30, 2023 and December 31, 2022, respectively, which are included in prepaid expenses and other current assets. In addition, included in cash and cash equivalents and restricted cash above as of June 30, 2023 and December 31, 2022 is $291 and $3,727, respectively, of restricted cash, which, is included in other non-current assets. The amounts for cash and cash equivalents and restricted cash shown above include restricted cash of $1,105 and $313 as of June 30, 2022 and December 31, 2021, respectively.
[2] Inventory is transferred to property and equipment at cost when we require additional machines for training or demonstration or for placement into on demand manufacturing services locations.