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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income (loss) $ 40,838 $ (43,366) $ (24,301)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 13,588 13,623 6,044
Stock-based compensation 56,546 47,986 42,443
Restructuring equity modification expense 366    
Accretion of discount or amortization of premium on investments (1,122) (1,637) (233)
Amortization of debt issuance costs 1,638 1,611 1,601
Loss on fixed asset disposal     57
Induced conversion expense related to convertible notes     2,232
Deferred tax expense (567) (931) 6
Revaluation of acquisition-related contingent consideration liability 986 1,570  
Changes in operating assets and liabilities, net of amounts acquired:      
Accounts receivable (1,999) (3,713) (14,547)
Inventory (2,220) (49,577) (24,439)
Prepaid expenses and other assets 227 1,625 852
Accounts payable 9,270 (12,303) 7,371
Accrued compensation and employee related benefits 13,855 (1,119) 2,683
Accrued and other liabilities 244 (591) (215)
Acquisition-related contingent consideration liability (2,556)    
Operating lease right-of-use assets 2,560 2,607 3,414
Operating lease liabilities (3,392) (3,308) (4,126)
Deferred revenue 48 (1,859) 1,805
Net cash provided by (used in) operating activities 128,310 (49,382) 641
Investing activities:      
Purchases of investments (202,063)   (205,749)
Proceeds from sales of investments   13,372  
Proceeds from maturities of investments 26,605 144,401 114,750
Proceeds from sale of property and equipment   234 279
Purchases of intangible assets   (250)  
Purchases of property and equipment (17,112) (18,592) (12,079)
Business acquisitions, net of cash acquired   (23,357)  
Net cash provided by (used in) investing activities (192,570) 115,808 (102,799)
Financing activities:      
Proceeds from exercise of stock options and employee stock purchase plan 20,281 8,736 15,416
Payment of 2019 Notes     (17,564)
Payment of acquisition-related contingent consideration (4,602)    
Net cash provided by (used in) financing activities 15,679 8,736 (2,148)
Effect of exchange rate changes on cash and cash equivalents (159) 34  
Net increase (decrease) in cash and cash equivalents (48,740) 75,196 (104,306)
Cash and cash equivalents      
Beginning of period 94,793 19,597 123,903
End of period 46,053 94,793 19,597
Supplemental disclosure of cashflow information:      
Cash paid for interest 3,234 3,234 3,420
Purchases of property and equipment not yet paid $ 763 1,417 $ 6,245
Operating lease liabilities arising from obtaining ROU assets   979  
Lease liabilities arising from remeasurement of ROU assets   159  
26,396 shares of common stock issued for Voyantic Oy acquisition   3,579  
Acquisition-related contingent consideration liability   $ 6,172