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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (309,851) $ (306,735) $ (314,248)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation 13,774 11,463 9,480
Amortization of intangible assets 27,412 8,261 913
Amortization of right-of-use assets 12,165 6,810 6,925
Share-based compensation expense 71,036 72,118 78,613
Impairment charges 184,500 0 0
Merger-related compensation expense 0 3,395 0
Loss on extinguishment of debt 0 2,033 0
Gain on debt restructuring (154,407) 0 0
Accretion of discount and amortization of premium on marketable securities, net (13,044) (12,840) (244)
Change in the estimated fair value of contingent consideration (850) 15,060 2,377
Inventory provision 4,618 10,584 6,027
Deferred income taxes (205) (11,424) 0
Other (628) 1,059 918
Changes in assets and liabilities      
Accounts receivable, net 9,091 (17,829) 5,455
Inventory, net (8,320) (13,841) (33,906)
Prepaid expenses and other assets 2,228 (8,984) (12,324)
Accounts payable 1,405 206 1,025
Accrued expenses (26,342) 13,103 (3,651)
Deferred revenue (2,108) (10,420) (3,734)
Operating lease liabilities (11,920) (8,759) (7,724)
Contingent consideration liability 0 (14,882) 0
Other liabilities (4,612) 2,449 887
Net cash used in operating activities (206,058) (259,173) (263,211)
Cash flows from investing activities      
Purchase of property and equipment (6,188) (8,843) (16,750)
Purchase of intangible assets 0 0 (179)
Cash paid for purchases of acquired entities, net of cash acquired 0 (102) 0
Purchase of investments (498,635) (756,567) (442,788)
Sales of investments 34,856 595 0
Maturities of investments 593,971 769,521 575,800
Net cash provided by investing activities 124,004 4,604 116,083
Cash flows from financing activities      
Proceeds from issuance of common stock under equity offerings, net of issuance costs 0 189,200 0
Proceeds from issuance of common stock from equity plans 7,703 15,319 11,230
Payment of debt issuance costs 0 (7,375) 0
Payment of contingent consideration 0 (86,411) 0
Payments made in conjunction with convertible notes exchange 50,200 0 0
Notes payable principal payoff (490) (1,842) (1,608)
Net cash (used in) provided by financing activities (42,987) 108,891 9,622
Net decrease in cash, cash equivalents, and restricted cash (125,041) (145,678) (137,506)
Cash, cash equivalents, and restricted cash at beginning of period 182,633 328,311 465,817
Cash, cash equivalents, and restricted cash at end of period 57,592 182,633 328,311
Cash and cash equivalents at end of period 55,370 179,911 325,089
Restricted cash at end of period 2,222 2,722 3,222
Cash, cash equivalents, and restricted cash at end of period 57,592 182,633 328,311
Supplemental disclosure of cash flow information      
Interest paid 14,805 15,687 14,049
Supplemental disclosure of non-cash investing and financing activities      
Convertible notes exchange 0 441,000 0
Note Exchange      
Supplemental disclosure of non-cash investing and financing activities      
Issuance of common stock 36,199 0 0
Liquidity Bonus Event      
Supplemental disclosure of non-cash investing and financing activities      
Issuance of common stock 0 2,111 0
Milestone Achievement      
Supplemental disclosure of non-cash investing and financing activities      
Issuance of common stock 0 84,761 0
Apton And Omniome      
Supplemental disclosure of non-cash investing and financing activities      
Inventory transferred to property and equipment 4,194 3,984 2,812
Property and equipment transferred to inventory (2,572) (7,022) (715)
Right-of-use asset and liability additions and modifications 18,253 0 0
Apton And Omniome | Business Combination      
Supplemental disclosure of non-cash investing and financing activities      
Issuance of common stock $ 0 $ 76,642 $ 0