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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (193,506) $ (80,736) $ (71,038)
Adjustments to reconcile net loss to net cash used in operating activities      
Stock-based compensation expense 33,109 17,825 16,964
Non-cash interest expense 3,734 6,106 4,853
Change in fair value of derivative liabilities 480 5,188 (13,841)
Depreciation and amortization expense 3,786 2,983 2,109
Gains and losses on extinguishment of debt, net 27,950 (14,190)  
Gain on disposal of property and equipment   1 1
Changes in operating assets and liabilities:      
Accounts receivable (6,209) (4,854) (190)
Prepaid expenses and other current assets (5,663) (3,766) 723
Inventory (735) (331) (724)
Accounts payable (318) 583 (621)
Operating lease assets 505 1,570 (3,175)
Accrued expenses 3,638 773 1,644
Deferred revenue (262) 427 963
Operating lease liabilities (1,186) (1,813) 2,729
Net cash used in operating activities (134,677) (70,234) (59,603)
Cash flows from investing activities:      
Purchases of property and equipment (1,288) (6,087) (3,715)
Net cash used in investing activities (1,288) (6,087) (3,715)
Cash flows from financing activities:      
Proceeds from issuance of short-term bridge loan   2,000  
Proceeds from issuance of Barings notes payable   82,474  
Proceeds from exercise of stock options 14,741 551 514
Proceeds from issuance of common stock pursuant to employee stock purchase plan 1,016 851 940
Payments of debt refinancing costs   (5,184)  
Proceeds from issuance of common stock upon public offering, net of issuance costs   117,261  
Repayment of MidCap notes payable   (26,125)  
Repayment from issuance of short-term bridge loan   (2,000)  
Proceeds from issuance of common stock and pre-funded warrants upon private placement, net of issuance costs 316,353    
Net cash provided by financing activities 332,110 169,828 1,454
Net increase in cash, cash equivalents and restricted cash 196,145 93,507 (61,864)
Cash, cash equivalents and restricted cash at beginning of period 197,571 104,064 165,928
Cash, cash equivalents and restricted cash at end of period 393,716 197,571 104,064
Supplemental disclosure of cash flow information:      
Cash paid for interest 21,533 5,464 2,147
Supplemental disclosure of non-cash investing and financing activities:      
Additions to property and equipment included in accounts payable and accrued expenses $ 121 $ 16 $ 1,384