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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES:    
Net loss $ (217,613) $ (206,304)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21,335 20,976
Operating lease costs 15,226 14,708
Stock-based compensation 54,276 44,620
Amortization of debt issuance costs 1,290 1,287
Amortization of premium (discount) on marketable debt securities 107 (3,085)
Unrealized losses (gains) on marketable equity securities 45,539 (67,879)
Impairment of non-marketable equity securities and other related assets 0 29,054
Other 1,385 108
Cash effect of changes in operating assets and liabilities:    
Accounts receivable, net (11,737) 10,695
Inventory, net (5,035) (8,931)
Prepaid expenses and other current assets, net (8,661) (891)
Other assets, net (130) 1,700
Accounts payable and accrued liabilities (15,025) 16,512
Operating lease liabilities (17,696) (14,970)
Deferred revenue 12,453 (6,056)
Net cash used in operating activities (124,286) (168,456)
INVESTING ACTIVITIES:    
Purchase of marketable debt securities 0 (561,339)
Maturity of marketable debt securities 35,000 492,700
Purchase of non-marketable equity securities and other related assets 0 (1,227)
Purchase of property and equipment (12,011) (14,037)
Net cash provided by (used in) investing activities 22,989 (83,903)
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon exercise of stock options 2,577 220
Proceeds from issuances of common stock under employee stock purchase plan 7,212 6,697
Taxes paid related to net share settlement of restricted stock units (4,784) (5,109)
Proceeds from follow-on public offering 0 402,500
Payment of offering costs related to follow-on public offering 0 (21,271)
Other (181) (37)
Net cash provided by financing activities 4,824 383,000
Net effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (1,975) (1,415)
Net (decrease) increase in cash, cash equivalents and restricted cash (98,448) 129,226
Cash, cash equivalents and restricted cash—Beginning of period 1,133,687 141,948
Cash, cash equivalents and restricted cash—End of period 1,035,239 271,174
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 933,694 271,073
Restricted cash – included in cash, cash equivalents and restricted cash 101,545 101
Total cash, cash equivalents and restricted cash $ 1,035,239 $ 271,174