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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (104,621) $ (60,110)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation of property and equipment 1,035 665
Amortization of debt discount and premium and discount on available-for-sale marketable securities (2,934) (2,267)
Stock-based compensation 14,696 21,394
Deferred income tax (90) 0
Changes in operating assets and liabilities:    
Accounts receivable and other current assets 3,248 (1,168)
Other assets (62) 0
Inventory (373) 233
Accounts payable and accrued expenses 1,504 3,636
Right-of-use assets and operating lease liabilities 543 539
Deferred revenue (28,637) (14,271)
Other noncurrent liabilities (18) 0
Net cash (used in) provided by operating activities (115,709) (51,349)
Cash flows from investing activities:    
Purchases of marketable securities (93,368) (184,995)
Sales and maturities of marketable securities 182,725 47,500
Purchases of property and equipment (1,496) (2,094)
Net cash (used in) provided by investing activities 87,861 (139,589)
Cash flows from financing activities:    
Payment of equity issue costs (291) (307)
Net settlement of stock units to satisfy statutory tax withholding (1,237) (4,434)
Proceeds from exercise of stock options and employee stock purchase plan 866 5,185
Principal payments on finance lease obligations (51) 0
Net cash (used in) provided by financing activities (713) 444
Net (decrease) increase in cash, cash equivalents and restricted cash (28,561) (190,494)
Cash, cash equivalents and restricted cash at beginning of period 99,854 281,413
Cash, cash equivalents and restricted cash at end of period 71,293 90,919
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 71,143 90,769
Restricted cash 150 150
Total cash, cash equivalents and restricted cash at end of period 71,293 90,919
Supplemental disclosure of non-cash investing and financing activities:    
Lease liability arising from obtaining right-of-use assets 903 17,656
Property and equipment additions in accounts payable and accrued expenses 43 220
Stock issuance costs in accounts payable and accrued expenses $ 20 $ 0