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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,953) $ (16,460)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 33 63
Accretion of investments (1,547) (907)
Stock-based compensation 5,218 5,556
Amortization of intangible asset 729 702
Changes in assets and liabilities:    
Accounts receivable, net 17,757 (2,246)
Inventory 6,726 22,809
Prepaid and other current assets 3,476 (386)
Other long-term assets 36 (556)
Interest receivable 0 (16)
Deferred revenue (401) (445)
Accounts payable and other current liabilities (34,896) (15,237)
Other long-term liabilities 221 115
Net cash used in operating activities (12,601) (7,008)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities of securities 62,000 32,913
Purchases of securities (33,281) (52,523)
Net cash provided by (used in) investing activities 28,719 (19,610)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options, net of transaction costs 10 1,871
Taxes paid related to stock-based awards (1,436) (1,507)
Net cash (used in) provided by financing activities (1,426) 364
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 14,692 (26,254)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 199,777 218,189
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 214,469 191,935
Cash paid during the year for:    
Income taxes 29 38
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right-of-use asset 81 446
Initial recognition of furniture, fixtures and equipment lease $ 0 $ 624