XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.2
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 $ (44,918) $ (65,774)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 10,315 10,291
Stock-based compensation 46,171 42,812
Amortization of premium and accretion of discounts, net (1,273) (1,149)
Amortization of operating lease right-of-use assets 2,816 2,484
Amortization of debt discount 1,564 1,330
Change in fair value of strategic investments (2,995) 0
Provision for credit losses and contractual allowances 54,704 35,486
Acquired in-process research and development 1,994 0
Loss on extinguishment of debt 0 7,589
Impairment charges 2,479 0
Other 172 396
Changes in operating assets and liabilities:    
Accounts receivable (56,916) (59,516)
Inventory (4,601) (1,466)
Prepaid expenses and other current assets (1,541) 6,478
Other assets 283 (5,006)
Accounts payable and accrued liabilities 14,682 (10,681)
Deferred revenue 567 (160)
Operating lease liabilities (3,735) (3,303)
Net cash provided by (used in) operating activities 19,768 (40,189)
Cash flows from investing activities    
Purchases of property and equipment (19,788) (18,264)
Purchases of marketable securities (169,466) (2,426)
Maturities of marketable securities 50,200 90,200
Purchases of strategic investments 0 (15,000)
Net cash (used in) provided by investing activities (139,054) 54,510
Cash flows from financing activities    
Purchases of capped call transactions 0 (72,407)
Purchase of treasury stock 0 (25,000)
Proceeds from issuance of common stock in connection with employee equity incentive plans 8,823 5,338
Net cash provided by financing activities 8,823 508,429
Effect of exchange rate changes (29) (13)
Net (decrease) increase in cash, cash equivalents and restricted cash (110,492) 522,737
Cash, cash equivalents and restricted cash, beginning of period 427,955 36,173
Cash, cash equivalents and restricted cash, end of period 317,463 558,910
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 309,105 550,552
Restricted cash 8,358 8,358
Total cash, cash equivalents and restricted cash 317,463 558,910
Supplemental disclosures of cash flow information:    
Interest paid 4,959 1,595
Cash taxes paid 647 360
Cash paid for operating lease liabilities 7,797 7,492
Cash received from tenant improvement allowances 745 736
Non-cash investing and financing activities:    
Property and equipment costs included in accounts payable and accrued liabilities 4,885 233
Capitalized stock-based compensation in property and equipment 2,867 3,829
SVB Term Loan    
Cash flows from financing activities    
Payments of debt 0 (37,751)
Braidwell Term Loan Facility    
Cash flows from financing activities    
Payments of debt 0 (78,660)
Proceeds from Braidwell debt 0 75,000
Payments of issuance costs 0 (2,100)
Convertible Notes Due 2029    
Cash flows from financing activities    
Payments of issuance costs 0 (17,241)
Proceeds from issuance of 2029 Notes $ 0 $ 661,250