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Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net (loss) income $ (10,380) $ 49,761
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 4,402 3,391
Amortization of premium on marketable securities 968 1,711
Stock-based compensation 23,408 17,643
Abandonment of capitalized intangible assets 1,047 310
Equity received in connection with sale of financial assets   (3,300)
Change in fair value of equity securities 9,974 (37,701)
Impairment on equity securities 138  
Loss (gain) on disposal of assets 125 (4)
Changes in operating assets and liabilities:    
Accounts receivable and contract asset 12,100 8,618
Interest receivable from marketable debt securities (448) 496
Prepaid expenses and other assets 4,183 (4,930)
Accounts payable 1,746 (1,842)
Accrued expenses (3,095) (275)
Lease liabilities and ROU assets 7,911 (83)
Deferred revenue (1,995) (73,415)
Net cash provided by (used in) operating activities 50,084 (39,620)
Cash flows from investing activities    
Purchase of marketable securities (206,148) (231,459)
Proceeds from sale of property and equipment   4
Purchase of intangible assets (3,197) (1,324)
Purchase of property and equipment (14,443) (4,234)
Proceeds from maturities and sale of marketable securities 76,390 221,752
Net cash used in investing activities (147,398) (15,261)
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of stock awards 2,047 6,242
Proceeds from issuance of common stock from Employee Stock Purchase Plan 1,197 937
Net cash provided by financing activities 3,244 7,179
Net decrease in cash and cash equivalents (94,070) (47,702)
Cash and cash equivalents, beginning of period 143,480 163,544
Cash and cash equivalents, end of period 49,410 115,842
Cash paid for:    
Interest 9 9
Supplemental disclosures of non-cash investing activities    
Unrealized loss on marketable securities $ (7,435) $ (90)