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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES:    
Net loss $ (325,367) $ (292,406)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 31,933 32,013
Operating lease costs 23,357 22,146
Stock-based compensation 104,045 66,439
Amortization of debt issuance costs 1,935 1,931
Amortization of discount on marketable debt securities (2,815) (10,913)
Unrealized and realized losses (gains) on marketable equity securities 47,225 (84,513)
Impairment of non-marketable equity securities and other related assets 0 29,054
Other 2,372 334
Cash effect of changes in operating assets and liabilities:    
Accounts receivable, net 316 8,360
Inventory, net (10,349) (25,435)
Prepaid expenses and other current assets, net (9,192) (2,558)
Other assets, net (1,561) 2,280
Accounts payable and accrued liabilities (19,813) 26,577
Operating lease liabilities (27,029) (22,724)
Deferred revenue 9,598 3,168
Net cash used in operating activities (175,345) (246,247)
INVESTING ACTIVITIES:    
Purchases of marketable debt securities (307,323) (629,902)
Maturities of marketable debt securities 35,000 828,700
Sales of marketable equity securities 19,195 0
Purchases of non-marketable equity securities and other related assets (2,500) (5,593)
Purchases of property and equipment (16,210) (16,409)
Net cash (used in) provided by investing activities (271,838) 176,796
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon exercise of stock options 2,597 290
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 (7,658) (8,112)
Proceeds from follow-on public offering 0 402,500
Payment of offering costs related to follow-on public offering 0 (20,478)
Other (212) 5,910
Net cash provided by financing activities 1,939 386,807
Net effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (75) (1,941)
Net (decrease) increase in cash, cash equivalents and restricted cash (445,319) 315,415
Cash, cash equivalents and restricted cash—Beginning of period 1,133,687 141,948
Cash, cash equivalents and restricted cash—End of period 688,368 457,363
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 585,022 457,339
Restricted cash – included in cash, cash equivalents and restricted cash 103,346 24
Total cash, cash equivalents and restricted cash $ 688,368 $ 457,363