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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (45,195) $ (29,284)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation of property and equipment 497 303
Amortization of debt discount and premium and discount on available-for-sale marketable securities (1,733) (575)
Stock-based compensation 7,820 12,699
Changes in operating assets and liabilities:    
Accounts receivable and other current assets 3,428 (4,260)
Other assets (44) 0
Inventory 176 (351)
Accounts payable and accrued expenses 4,974 (1,430)
Right-of-use assets and operating lease liabilities 479 524
Deferred revenue (23,522) (8,797)
Net cash (used in) provided by operating activities (53,120) (31,171)
Cash flows from investing activities:    
Purchases of marketable securities (39,424) 0
Sales and maturities of marketable securities 79,225 22,000
Purchases of property and equipment (276) (1,194)
Net cash (used in) provided by investing activities 39,525 20,806
Cash flows from financing activities:    
Payment of equity issue costs (291) (89)
Net settlement of stock units to satisfy statutory tax withholding (1,218) (4,356)
Proceeds from exercise of stock options and employee stock purchase plan 593 4,560
Principal payments on finance lease obligations (35) 0
Net cash (used in) provided by financing activities (951) 115
Net (decrease) increase in cash, cash equivalents and restricted cash (14,546) (10,250)
Cash, cash equivalents and restricted cash at beginning of period 99,854 281,413
Cash, cash equivalents and restricted cash at end of period 85,308 271,163
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 85,158 271,013
Restricted cash 150 150
Total cash, cash equivalents and restricted cash at end of period 85,308 271,163
Supplemental disclosure of non-cash investing and financing activities:    
Lease liability arising from obtaining right-of-use assets 903 0
Property and equipment additions in accounts payable and accrued expenses 96 535
Stock issuance costs in accounts payable and accrued expenses $ 20 $ 218