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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (128,791) $ (137,560)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 58,410 40,120
Stock-based compensation 51,744 60,729
Amortization of debt discount and debt issuance costs 3,279 2,586
Amortization of right-of-use assets 3,499 2,598
Write-down for excess and obsolete inventories 10,970 9,188
Loss on disposal of assets 3,262 2,209
Other 4,993 1,717
Changes in operating assets and liabilities:    
Accounts receivable (9,479) (4,938)
Inventories (57,044) (36,087)
Prepaid expenses and other current assets 683 (6,499)
Other assets (673) (52)
Accounts payable 16,016 10,290
Accrued expenses (8,202) 7,984
Lease liabilities (3,628) (2,677)
Contract liabilities (2,308) 1,906
Other long-term liabilities 2,095 (4,995)
Net cash used in operating activities (55,174) (53,481)
Investing activities:    
Purchase of property and equipment (81,248) (54,791)
Purchase of intangible assets (8,142) (3,971)
Acquisition of business   (55,000)
Net cash used in investing activities (89,390) (113,762)
Financing activities:    
Proceeds from revolving credit facility 122,175 92,000
Repayment of revolving credit facility (110,400) (82,500)
Net cash paid for common stock exercises (4,732) (2,334)
Proceeds from financed insurance 1,156 1,328
Proceeds from term loan, net of debt discount   148,473
Repayment of debt issuance costs   (3,321)
Proceeds from common stock offering, net of offering costs   67,428
Repayment of OCEANEs   (13,315)
Other (2,633) (2,411)
Net cash provided by financing activities 5,566 205,348
Effect of exchange rate changes on cash (996) (275)
Net change in cash and cash equivalents (139,994) 37,830
Cash and cash equivalents at beginning of period 220,970 84,696
Cash and cash equivalents at end of period 80,976 122,526
Supplemental disclosure of cash flow information:    
Cash paid for interest 15,342 11,202
Cash paid for income taxes 275 247
Supplemental disclosure of noncash activities:    
Financed insurance 1,156 1,328
Purchases of property and equipment in accounts payable and accrued expenses   7,156
Recognition of lease liabilities $ 11,923 $ 424