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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities      
Net loss $ (47,973) $ (107,386) $ (147,702)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 24,611 47,919 41,572
Amortization of intangible asset 1,589 3,161 3,179
Amortization of debt discount   984 1,260
Loss on debt extinguishment 10,385 10,385  
Depreciation   269 272
Loss (Gain) in fair value of contingent consideration (8,102) (6,590) 748
Gain from lease modification   (2,250)  
Non-cash lease expense   1,432 701
Right-of-use asset amortization for finance lease 537 949 373
Change in operating lease liability   (191) (54)
Changes in operating assets and liabilities:      
Accounts receivable, net   (56,824) (25,522)
Inventories, net   (2,026) 585
Prepaid expenses and other current assets   (4,360) (3,693)
Non-current inventory and other assets   (3,223) (1,029)
Accounts payable   19,631 20,661
Accrued expenses and other current liabilities   22,322 25,072
Net cash used in operating activities   (75,798) (83,577)
Cash flows from investing activities      
Purchases of equipment   (351) (150)
Net cash used in investing activities   (351) (150)
Cash flows from financing activities      
Proceeds from draw down of debt   190,000  
Payment of debt issuance costs   (3,638)  
Repayment of debt   (191,988)  
Payments on principal portion of finance lease obligation   (919) (349)
Proceeds from issuance of common stock upon financing   52,283 11,264
Cash paid for common stock issuance costs   (910) (225)
Proceeds from issuance of common stock upon exercise of options and under employee stock purchase plan   28,696 9,242
Payment of contingent consideration   (4,488) (3,795)
Payments of tax withholdings on stock awards   (5,224) (2,946)
Net cash provided by financing activities   63,812 13,191
Net decrease in cash   (12,337) (70,536)
Cash at beginning of period   315,353 386,193
Cash at end of period $ 303,016 303,016 315,657
Supplemental disclosures of cash flow information:      
Interest paid   8,359 9,911
Operating lease right-of-use asset obtained in exchange for operating lease liability   23,869  
Finance lease right-of-use asset obtained in exchange for finance lease liability   2,360 $ 4,572
Decrease in operating lease right-of-use asset due to lease modification   5,349  
Decrease in operating lease liability due to lease modification   $ 7,599