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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (184,586) $ (188,386)
Non-cash adjustments reconciling net loss to operating cash flows    
Change in fair value on long-term investment 112 5,077
Depreciation and amortization expense 1,075 629
Amortization of premium and accretion of discounts on investments (5,168) 982
Share-based compensation expense 46,961 42,905
Changes in operating assets and liabilities:    
Accounts receivable, net (5,362) 0
Inventory (829) 0
Other current assets (5,741) 0
Other long-term assets (1,790) (1,584)
Right-of-use asset 339 451
Lease liability (376) 1,431
Accounts payable, accrued liabilities and other liabilities (34,817) (21,974)
Cash flows used in operating activities (190,182) (160,469)
Investing activities:    
Purchases of short-term investments (126,708) (212,545)
Sales and maturities of short-term investments 322,128 263,240
Purchases of property and equipment (269) (1,140)
Cash flows provided by investing activities 195,151 49,555
Financing activities:    
Proceeds from issuance of common stock under equity incentive plans 1,727 2,527
Cash flows provided by financing activities 1,727 2,527
Effect of exchange rate changes on cash, cash equivalents and restricted cash (31) 0
Increase (decrease) in cash, cash equivalents and restricted cash 6,665 (108,387)
Cash, cash equivalents and restricted cash, beginning of period 235,880 413,703
Cash, cash equivalents and restricted cash, end of period 242,545 305,316
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 241,925 304,696
Restricted cash included in other long-term assets 620 620
Total cash, cash equivalents and restricted cash 242,545 305,316
Supplemental disclosures of non-cash investing activities:    
Accrued capital expenditures $ 193 $ 842