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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (107,150) $ (38,531) $ (28,354)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expense 15,844 6,463 6,275
Credit losses on accounts receivable 628 588 336
Accretion of marketable securities (2,078) (6,833) (1,964)
Operating lease right-of-use asset amortization 3,081 1,893 2,015
Stock-based compensation expense 20,718 19,987 16,823
Impairment 7,752 0 1,361
Change in fair value of contingent liabilities (4,547) 0 0
Recognition of off-market liability (2,726) 0 0
Deferred taxes (5,867) (290) (290)
Other operating activity (540) 345 140
Changes in assets and liabilities:      
Accounts receivable 10,609 (7,704) (6,695)
Inventory 4,033 (6,679) (8,944)
Prepaid expenses and other current assets 3,521 (443) (2,371)
Other non-current assets 252 (1,215) (717)
Accounts payable (528) 723 1,189
Accrued compensation and benefits, accrued expenses, and other current liabilities (7,914) 1,398 4,410
Net change in other operating assets and liabilities (12,324) (4,866) (2,063)
Net cash used in operating activities (77,236) (35,164) (18,849)
Cash flows from investing activities:      
Purchases of marketable debt securities (69,757) (295,606) (175,613)
Proceeds from sales and maturities of marketable securities 215,829 216,709 31,000
Purchases of property and equipment (2,612) (3,368) (3,841)
Acquisitions, net of cash acquired (93,229) 0 0
Net cash provided by (used in) investing activities 50,231 (82,265) (148,454)
Cash flows from financing activities:      
Proceeds from common stock issued under stock plans 738 3,066 2,889
Payments for employee taxes withheld on stock-based compensation awards (1,446) (2,610) (198)
Net cash provided by (used in) financing activities (708) 456 2,691
Net decrease in cash, cash equivalents, and restricted cash (27,713) (116,973) (164,612)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1,574 (734) 301
Cash, cash equivalents, and restricted cash at beginning of period 59,319 177,026 341,337
Cash, cash equivalents, and restricted cash at end of period 33,180 59,319 177,026
Supplemental disclosure of cash flow information:      
Common stock issued in exchange for acquisition of Akoya 49,900 0 0
Purchases of property and equipment in accounts payable and accruals $ 121 $ 1,230 $ 419