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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES:      
Net loss $ (479,449) $ (654,588) $ (384,770)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 42,881 35,962 22,271
Operating lease costs 29,699 28,585 24,661
Contingent consideration 110 4,305 2,380
Stock-based compensation 90,759 94,685 151,449
Amortization of debt issuance costs 2,575 2,569 2,564
Amortization of (discount) premium on marketable debt securities (13,552) 4,595 12,849
Unrealized (gains) losses on marketable equity securities (79,710) 7,793 0
Impairment of non-marketable equity securities and other related assets 29,054 5,261 0
Fair value adjustments of noncontrolling interest liability 0 99,785 0
Other (1,182) 21 47
Cash effect of changes in operating assets and liabilities:      
Accounts receivable, net 8,378 375 (44,353)
Inventory, net (10,350) (20,926) (7,957)
Prepaid expenses and other current assets, net (4,332) 20,444 (35,753)
Other assets, net 1,298 11,698 (4,182)
Accounts payable and accrued liabilities 88,591 60,328 34,796
Operating lease liabilities (31,478) (20,228) 14,205
Deferred revenue 1,733 9,873 2,776
Net cash used in operating activities (324,975) (309,463) (209,017)
INVESTING ACTIVITIES:      
Purchase of marketable debt securities (629,902) (303,757) (900,808)
Maturity of marketable debt securities 1,494,700 555,000 952,110
Purchase of non-marketable equity securities and other related assets (5,593) (23,966) (39,422)
Purchase of property and equipment (20,486) (77,461) (75,035)
Other 1,531 0 0
Net cash provided by (used in) investing activities 840,250 149,816 (63,155)
FINANCING ACTIVITIES:      
Proceeds from issuance of common stock under employee stock purchase plan 10,154 9,316 9,753
Proceeds from issuance of common stock upon exercise of stock options 405 2,625 8,112
Taxes paid related to net share settlement of restricted stock units (11,197) (7,878) (83,759)
Proceeds from equity offerings 493,116 0 0
Payment of equity offering costs (21,131) 0 0
Joint Venture Acquisition 0 (177,785) 0
Tender offer issued in connection with the Joint Venture Acquisition and acquisition related costs 0 (14,235) 0
Other 6,028 (1,136) (930)
Net cash provided by (used in) financing activities 477,375 (189,093) (66,824)
Net effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (911) (1,600) (1,693)
Net increase (decrease) in cash, cash equivalents and restricted cash 991,739 (350,340) (340,689)
Cash, cash equivalents and restricted cash – Beginning of period 141,948 492,288 832,977
Cash, cash equivalents and restricted cash – End of period 1,133,687 141,948 492,288
Supplemental Disclosures of Cash Flow Information:      
Cash paid for income taxes 1,969 1,331 393
Supplemental Disclosures of Noncash Investing and Financing Activities:      
Operating lease liabilities arising from obtaining right-of-use assets 5,015 4,073 171,382
Purchase of property and equipment included in accounts payable and accrued liabilities 5,279 8,291 8,892
Reclassification of redeemable noncontrolling interest to noncontrolling interest liability 0 0 78,000
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 1,133,537 141,647 492,202
Restricted cash – included in other assets, net 150 301 86
Total cash, cash equivalents and restricted cash $ 1,133,687 $ 141,948 $ 492,288