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Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ (60,763) $ 23,594
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,245 2,178
Amortization of premium on marketable securities (1,661) 543
Stock-based compensation 12,599 10,805
Abandonment of capitalized intangible assets 321 311
Change in fair value of equity securities 2,898 3,429
Loss on disposal of assets 1,379 117
Changes in operating assets and liabilities:    
Accounts receivable and contract asset 9,135 (26,820)
Interest receivable from marketable debt securities 248 (251)
Prepaid expenses and other assets 1,204 906
Accounts payable 5,254 (2,096)
Accrued expenses (3,588) (6,831)
Lease liabilities and ROU assets 331 1,736
Deferred revenue (216) (1,806)
Net cash (used in) provided by operating activities (30,614) 5,815
Cash flows from investing activities    
Purchase of marketable securities (95,228) (88,764)
Purchase of intangible assets (407) (906)
Purchase of property and equipment (10,783) (2,089)
Proceeds from maturities and sale of marketable securities 154,562 20,000
Net cash provided by (used in) investing activities 48,144 (71,759)
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of stock awards 922 731
Net cash provided by financing activities 922 731
Net increase (decrease) in cash and cash equivalents 18,452 (65,213)
Cash and cash equivalents, beginning of period 53,942 143,480
Cash and cash equivalents, end of period 72,394 78,267
Cash paid during the period for:    
Interest 7 4
Supplemental disclosures of non-cash investing activities    
Unrealized gain (loss) on marketable securities $ 3,327 $ (5,611)