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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (224,717) $ (229,864)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 8,487 6,937
Amortization of intangible assets 1,408 685
Amortization of right-of-use assets 4,940 5,152
Share-based compensation expense 55,534 60,658
Merger-related compensation expense 3,395 0
Accretion of discount and amortization of premium on marketable securities, net (10,088) 1,069
Change in the estimated fair value of contingent consideration 13,960 (2,221)
Loss on extinguishment of debt 2,033 0
Inventory provision 4,691 2,667
Deferred income taxes (10,706) 0
Other 667 562
Changes in assets and liabilities    
Accounts receivable, net (11,700) 1,485
Inventory (22,849) (23,367)
Prepaid expenses and other assets (7,287) (5,685)
Accounts payable 1,706 1,511
Accrued expenses 2,055 (11,054)
Deferred revenue (4,867) (3,575)
Operating lease liabilities (6,396) (5,905)
Contingent consideration liability (732) 0
Other liabilities (1,147) (1,700)
Net cash used in operating activities (201,613) (202,645)
Cash flows from investing activities    
Purchase of property and equipment (6,819) (11,846)
Cash paid for purchase of Apton, net of cash acquired (102) 0
Purchases of investments (553,748) (307,899)
Sales of investments 595 0
Maturities of investments 631,253 355,425
Net cash provided by investing activities 71,179 35,680
Cash flows from financing activities    
Proceeds from issuance of common stock under equity offerings, net of issuance costs 189,200 0
Proceeds from issuance of common stock from equity plans 14,383 9,983
Payment of debt issuance costs (7,325) 0
Payment of contingent consideration (4,368) 0
Notes payable principal payoff (1,397) (1,180)
Net cash provided by financing activities 190,493 8,803
Net increase (decrease) in cash, cash equivalents, and restricted cash 60,059 (158,162)
Cash, cash equivalents, and restricted cash at beginning of period 328,311 465,817
Cash, cash equivalents, and restricted cash at end of period 388,370 307,655
Cash and cash equivalents at end of period 385,648 304,433
Restricted cash at end of period 2,722 3,222
Cash, cash equivalents, and restricted cash at end of period $ 388,370 $ 307,655