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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net Income (Loss) $ (172,797) $ (162,956) $ (131,935)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 38,634 27,203 17,445
Depreciation and amortization 5,810 5,169 5,162
Non-cash lease expense 1,271 1,114 1,022
Non-cash interest expense 1,828 381 569
Accretion of discount on investments, net (6,369) 449 1,972
Provision for inventories 733 2,610 1,023
Other non-cash items 290 76 81
Loss on extinguishment of term loan 0 1,367 0
Changes in operating assets and liabilities:      
Accounts receivable (5,094) (2,506) (19,137)
Inventories 1,647 (14,730) (22,042)
Prepaid expenses and other assets 739 (1,215) 1,860
Accounts payable 5,312 (1,281) (3,066)
Accrued payroll and related benefits (2,515) (3,428) 8,103
Accrued expenses and other current liabilities (2,621) 1,811 5,889
Accrued warranty liability 91 (83) 791
Deferred revenue 3,015 2,161 2,881
Operating lease liabilities (1,347) (1,150) (882)
Accrued interest 0 (721) 0
Net cash used in operating activities (131,373) (145,729) (130,264)
Cash flows from investing activities:      
Purchases of property and equipment (3,440) (8,325) (3,108)
Purchases of investment securities (172,284) (261,154) (178,432)
Maturities of investment securities 258,750 203,184 39,033
Net cash (used in) provided by investing activities 83,026 (66,295) (142,507)
Cash flows from financing activities:      
Proceeds from stock option exercises and ESPP purchases 10,427 8,042 11,062
Proceeds from issuance of term loan, net of issuance costs 33,225 96,059 0
Repayment of term loan and extinguishment costs 0 (31,203) 0
Proceeds from issuance of common stock upon the follow-on public offering, net of issuance costs 0 0 149,085
Net cash provided by financing activities 43,652 72,898 160,147
Net decrease in cash, cash equivalents and restricted cash (4,695) (139,126) (112,624)
Cash, cash equivalents and restricted cash as of beginning of period 76,533 215,659 328,283
Cash, cash equivalents and restricted cash as of end of period 71,838 76,533 215,659
Supplemental cash flow disclosures:      
Cash paid for income taxes 491 385 83
Cash paid for interest 10,847 3,185 1,146
Cash paid for amounts included in the measurement of operating lease liabilities 1,347 1,150 882
Supplemental non-cash investing and financing activities:      
Capital expenditures included in accounts payable and accrued expenses 159 167 121
Right-of-use assets obtained in exchange for lease liabilities 528 0 0
Transfer of inventories to property and equipment 119 28 1,410
Deferred financing costs included in accrued expenses 0 750 0
Transfer of property and equipment to inventories $ 0 $ 199 $ 1,192