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Condensed Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (74,398) $ (88,017)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 18,023 18,643
Depreciation and amortization 2,931 2,898
Non-cash lease expense 700 603
Non-cash interest expense 1,241 914
Amortization of premium on investments, net (2,928) (3,353)
Provision for inventories 706 868
Loss on disposal of property and equipment 23 93
Allowance for credit losses 1,813 87
Changes in operating assets and liabilities:    
Accounts receivable (2,953) (8,919)
Inventories (13,214) 6,114
Prepaid expenses and other assets 1,196 1,196
Accounts payable (544) 1,682
Accrued compensation and related benefits (7,279) (4,058)
Accrued expenses and other current liabilities (3,695) (3,720)
Accrued warranty liability (1,513) 547
Deferred revenue 1,410 2,130
Operating lease liabilities (766) (640)
Net cash used in operating activities (79,247) (72,932)
Cash flows from investing activities:    
Purchases of property and equipment (474) (1,605)
Purchases of investment securities (128,445) (97,849)
Maturities of investment securities 108,829 129,250
Net cash (used in) provided by investing activities (20,090) 29,796
Cash flows from financing activities:    
Proceeds from stock option exercises and ESPP purchases 2,163 6,320
Proceeds from issuance of term loans, net of issuance costs 66,524 0
Net cash provided by financing activities 68,687 6,320
Net decrease in cash, cash equivalents and restricted cash (30,650) (36,816)
Cash, cash equivalents and restricted cash as of beginning of period 71,838 76,533
Cash, cash equivalents and restricted cash as of end of period 41,188 39,717
Supplemental cash flow disclosures:    
Cash paid for income taxes 356 311
Cash paid for interest 10,102 5,131
Cash paid for amounts included in the measurement of operating lease liabilities 766 640
Supplemental non-cash investing and financing activities:    
Capital expenditures included in accounts payable and accrued expenses 115 216
Right-of-use assets obtained in exchange for operating lease liabilities 0 528
Transfer of inventories to property and equipment $ 148 $ 0