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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,060 $ (10,707)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 14,972 9,339
Depreciation and amortization 8 29
Amortization of premium (discount) on investment securities (1,336) (1,670)
Amortization of debt issuance costs 304 639
Amortization of leasehold interest 48 53
Noncash change in lease liability and right of use asset 453 407
Change in fair value of equity investments 104 (195)
Change in fair value of notes payable 213 (35)
Changes in assets and liabilities:    
Increase in inventory (46,305) (36,931)
(Increase) decrease in other current assets (4,627) 1,490
Increase in accounts receivable (60,936) (13,889)
Increase in accounts payable and accrued expenses 65,585 40,222
Decrease in lease liabilities (543) (596)
(Decrease) increase in other current liabilities (1,855) 3,035
Increase in deferred revenue 140 602
Net cash used in operating activities (28,715) (8,207)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 80,400 73,401
Investment in held-to-maturity securities (92,059) (81,531)
Investment in long-term securities (1,250) (1,125)
Purchases of Property, Plant and Equipment (25) 0
Net cash used in investing activities (12,934) (9,255)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of options 21 10
Purchase of treasury stock (6,123) 0
Net cash (used in) provided by financing activities (6,102) 10
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (47,751) (17,452)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 181,192 94,218
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 133,441 76,766
Reconciliation to amounts on condensed consolidated balance sheets:    
Cash and cash equivalents 132,139 75,477
Restricted Cash 1,302 1,289
Total cash, cash equivalents and restricted cash 133,441 76,766
Cash paid for:    
Interest $ 6,143 $ 2,448