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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 income (loss) $ (93,601) $ (80,535) $ 23,254
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation and amortization expense 30,072 16,128 11,843
Stock-based compensation expense 92,634 76,753 57,415
Net change in unrealized interest on held to maturity securities 4,577 (3,829) (5,055)
Change in fair value of sales based earnout liability 6,049 1,183 0
Accretion of acquisition consideration payable 4,056 710 0
Inventory write-down 4,431 1,997 2,972
Other, net 0 (23) 358
Changes in assets and liabilities:      
Accounts receivable, net (16,348) 19,368 (2,853)
Inventories (14,344) (9,886) (36,992)
Prepaid expenses and other assets (2,516) (6,116) (7,460)
Accounts payable 6,122 (5,706) 2,468
Accrued expenses and other liabilities 2,058 (1,988) (6,198)
Net cash provided by operating activities 23,190 8,056 39,752
Cash flows from investing activities      
Purchase of held to maturity securities (807,836) (1,046,407) (673,370)
Proceeds from maturity of held to maturity securities 909,265 1,060,996 148,931
Acquisition of business 0 (39,000) 0
Purchase of property and equipment (36,217) (8,945) (31,793)
Cash paid for intangibles (453) (3,304) (3,856)
Net cash provided by (used in) investing activities 64,759 (36,660) (560,088)
Cash flows from financing activities      
Tax withholding paid on behalf of employees for net share settlement (52,633) (41,346) (37,552)
Proceeds from At-The-Market offering 50,509 46,025 33,977
Payments for At-The-Market offering costs (1,730) (1,210) (947)
Payment of contingent consideration towards earnouts (12,254) 0 0
Payment of deferred acquisition consideration payable (75,203) 0 0
Net cash provided by (used in) financing activities (91,311) 3,469 (4,522)
Net decrease in cash and cash equivalents (3,362) (25,135) (524,858)
Cash and cash equivalents      
Beginning of period 9,468 34,603 559,461
End of period 6,106 9,468 34,603
Supplemental disclosure of cash flow information      
Income taxes paid 88 199 58
Supplemental disclosure of noncash flow information      
Unpaid property and equipment 8,949 866 747
Unpaid intangibles, net 0 0 606
Right-of-use assets acquired under operating leases 1,147 0 4,761
Settlement of pre-existing arrangement in connection with acquisition 0 9,974 0
Acquisition consideration payable at acquisition date 0 107,947 0
Fair value of sales based earnout liability $ 0 $ 102,278 $ 0