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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Operating activities:      
Net loss $ (43,974) $ (65,276) $ (76,240)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 5,248 4,946 5,518
Reduction in the carrying amount of right-of-use assets 3,044 3,184 4,405
Stock-based compensation 9,624 13,087 9,971
Provision (recovery) for credit losses (113) 97 (65)
Asset impairment and other charges 0 165 9,984
Impairment of investment in non-marketable securities 300 6,902 12,215
Equity securities earned from research and development activities 0 0 (213)
Non-cash interest expense 1,305 885 0
Amortization of discount on short-term investments (1,234) (1,380) 0
Other non-cash items 6 (4) 4
Changes in operating assets and liabilities:      
Financial assets 8,507 1,252 20,247
Inventories (19) 886 (656)
Prepaid expenses and other assets (1,694) 893 (865)
Accounts payable (1,286) (2,567) 2,287
Accrued compensation and other accrued liabilities (2,848) 1,982 (14,041)
Other long-term liabilities (3,161) (4,151) (5,341)
Deferred revenue 6,919 (10,311) (19,848)
Net cash used in operating activities (19,376) (49,410) (52,638)
Investing activities:      
Purchase of property and equipment (4,471) (4,305) (4,418)
Proceeds from sale of property and equipment 5 87 751
Purchases of short-term investments (57,158) (90,235) 0
Proceeds from maturity of short-term investments 85,126 35,500 0
Proceeds from sale of short-term investments 0 1,973 0
Investment in non-marketable securities 0 0 (1,191)
Net cash provided by (used in) investing activities 23,502 (56,980) (4,858)
Financing activities:      
Proceeds from exercises of stock options 1,098 1,384 422
Proceeds from issuance of stock under employee stock purchase plan 505 646 0
Proceeds from issuance of common stock in connection with equity sales agreements 17,267 31,319 8,652
Costs incurred in connection with equity sales agreements (836) (1,706) (503)
Proceeds from long-term debt 9,897 29,521 0
Payment of debt issuance costs (3) (642) 0
Taxes paid related to net share settlement of equity awards 0 0 (404)
Net cash provided by financing activities 27,928 60,522 8,167
Net increase (decrease) in cash, cash equivalents and restricted cash 32,054 (45,868) (49,329)
Cash, cash equivalents and restricted cash at the beginning of the year 20,829 66,697 116,026
Cash, cash equivalents and restricted cash at the end of the year 52,883 20,829 66,697
Supplemental disclosure of cash flow information:      
Interest paid 3,149 2,566 44
Income taxes paid 0 17 194
Supplemental non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid 31 566 1,068
Cash reconciliation:      
Cash and cash equivalents 50,793 19,264 65,116
Restricted cash, current and non-current 2,090 1,565 1,581
Total cash, cash equivalents and restricted cash at the end of the period $ 52,883 $ 20,829 $ 66,697