XML 16 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
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 $ (29,284) $ (21,164)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation of property and equipment 303 105
Amortization of debt discount and premium and discount on available-for-sale marketable securities (575) (244)
Stock-based compensation 12,699 3,050
Changes in operating assets and liabilities:    
Accounts receivable and other current assets (4,260) 4,932
Inventory (351) (1,185)
Accounts payable and accrued expenses (1,430) (2,267)
Right-of-use assets and operating lease liabilities 524 193
Deferred revenue (8,797) (255)
Net cash provided by (used in) operating activities (31,171) (16,835)
Cash flows from investing activities:    
Purchases of marketable securities 0 (2,930)
Sales and maturities of marketable securities 22,000 35,500
Purchases of property and equipment (1,194) (484)
Net cash provided by (used in) investing activities 20,806 32,086
Cash flows from financing activities:    
Payment of equity issue costs (89) 0
Borrowings under revolving facility 0 5,300
Repayment under revolving facility 0 (10,480)
Net settlement of stock units to satisfy statutory tax withholding (4,356) (169)
Proceeds from exercise of stock options 4,560 248
Principal payments on finance lease obligations 0 (18)
Net cash used in financing activities 115 (5,119)
Net increase (decrease) in cash, cash equivalents and restricted cash (10,250) 10,132
Cash, cash equivalents and restricted cash at beginning of period 281,413 95,783
Cash, cash equivalents and restricted cash at end of period 271,163 105,915
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 271,013 105,765
Restricted cash 150 150
Total cash, cash equivalents and restricted cash at end of period 271,163 105,915
Supplemental cash flow information:    
Cash interest paid 0 740
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions in accounts payable and accrued expenses 535 0
Stock issuance costs $ 218 $ 0