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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income (loss) $ 127,840 $ (111,250) $ (94,733)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Stock-based compensation expense 38,808 31,949 26,854
Depreciation and amortization 9,564 8,407 7,152
Provision for credit losses (recoveries) (2,569) 7,678 0
Net amortization of premiums (accretion of discounts) on marketable debt securities 5,842 1,083 (1,196)
Net gains on investments (5,189) (4,918) (37,774)
Imputed interest income from licensing (360) (2,163) (2,951)
Non-cash interest expense 4,642 771  
Other non-cash adjustments 79 163 268
Changes in operating assets and liabilities      
Accounts receivable 14,118 (9,898) (8,622)
Prepaid expenses (8,247) (4,030) (973)
Other current assets (7,314) 2,341 (499)
Operating lease right-of-use assets 4,866 3,219 2,431
Other assets (2,272) 399 (2,694)
Accounts payable (2,304) 3,873 1,528
Accrued expenses and other current liabilities 29,908 17,400 6,882
Deferred revenue (899)   (600)
Operating lease liabilities 12,073 2,139 (2,255)
Other liabilities 289 (1,224) (523)
Net cash provided by (used in) operating activities 218,875 (54,061) (107,705)
Cash flows from investing activities      
Purchases of marketable debt securities (498,144) (123,041) (190,735)
Maturities of marketable debt securities 170,086 233,468 289,994
Sales of marketable debt securities   2,287  
Sales of equity securities 5,591 36,914 6,020
Purchases of property and equipment (84,175) (26,869) (11,720)
Net cash provided by (used in) investing activities (406,642) 122,759 93,559
Cash flows from financing activities      
Proceeds from exercise of stock options 4,281 5,623 7,062
Taxes paid related to net settlement of stock options (2)    
Proceeds from issuance of common stock under employee stock purchase plan 1,768 1,799 1,314
Proceeds from public offering of common stock, net of underwriting discounts and commissions 216,438    
Issuance costs for public offering of common stock (379)    
Proceeds from sale of future royalties   196,000  
Repayments under liability related to sale of future royalties, net of imputed interest (26,591)    
Transaction costs for sale of future royalties (265) (3,208)  
Net cash provided by financing activities 195,250 200,214 8,376
Net increase (decrease) in cash and cash equivalents and restricted cash 7,483 268,912 (5,770)
Cash and cash equivalents and restricted cash      
Beginning of period 339,756 70,844 76,614
End of period 347,239 339,756 70,844
Supplemental cash flow information      
Cash paid (received) for income taxes 5,996 (191) 904
Cash paid for imputed interest under liability related to sale of future royalties 21,635    
Supplemental disclosures of non-cash investing and financing activities      
Increase in accounts payable and accrued liabilities related to purchases of property and equipment 558 6,812 $ 1,572
Non-cash additions to property and equipment through tenant improvement allowance   2,263  
Non-cash consideration received for licenses granted   1,123  
Transaction costs for sale of future royalties in accounts payable and other current liabilities   $ 265  
Proceeds due to Company from sales of non-marketable equity securities $ 600