XML 24 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (238,008) $ (237,785)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 50,718 66,354
Depreciation and amortization 10,722 11,227
Net amortization/accretion on investment securities (3,510) 2,735
Non-cash rent expense 504 2,193
Share of loss from, and impairment of, equity method investment 7,452 3,959
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 3,555 (2,811)
Other long-term assets (421) (3,211)
Accounts payable (7,200) 1,930
Accrued and other current liabilities (7,106) (1,388)
Deferred revenue (649) 466
Other long-term liabilities (83) (2,092)
Net cash used in operating activities (184,026) (158,423)
Cash flows from investing activities:    
Purchases of property and equipment (1,335) (3,499)
Proceeds from sales of investments 5,623 0
Proceeds from maturities of investments 461,467 260,379
Purchase of investments (369,927) (200,318)
Net cash provided by investing activities 95,828 56,562
Cash flows from financing activities:    
Proceeds from issuance of common stock from ATM offering, net of commissions and issuance costs 91,112 0
Proceeds from issuance of common stock upon exercise of stock options 1,932 443
Proceeds from issuance of common stock under the employee stock purchase plan 2,496 2,461
Net cash provided by financing activities 95,540 2,904
Net change in cash and cash equivalents and restricted cash 7,342 (98,957)
Cash and cash equivalents and restricted cash — beginning of period 72,196 183,606
Cash and cash equivalents and restricted cash — end of period 79,538 84,649
Non-cash investing activities:    
Right-of-use asset obtained in exchange for lease liability 0 31,361
Supplemental disclosure:    
Cash paid for amounts included in the measurement of lease liabilities (9,013) (6,605)
Cash received for amounts related to tenant improvement allowances $ 0 $ 325