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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) $ (115,909) $ 121,190 $ (10,947)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Stock-based compensation expense 46,718 39,621 7,457
Depreciation and amortization expense 260 29 19
Accretion of premium and discounts on marketable securities (5,465)    
Changes in operating assets and liabilities      
Unbilled accounts receivable     (5,815)
Prepaid expenses and other current assets (6,251) (483) (7,296)
Other assets (1,494) (161)  
Accounts payable (1,983) 10,289 (488)
Accrued expenses and other liabilities (37,623) 43,877 12,437
Deferred revenue   (301,367) 301,367
Operating lease liabilities 765    
Net cash provided by (used in) operating activities (120,982) (87,005) 296,734
Cash flows from investing activities      
Additions to property and equipment (1,943) (4) (26)
Purchases of marketable securities (545,352)    
Sales and maturities of marketable securities 91,885    
Net cash used in investing activities (455,410) (4) (26)
Cash flows from financing activities      
Net proceeds from issuance of convertible preferred stock     214,116
Proceeds from issuance of common stock for exercise of stock options 230 1,465 27
Proceeds from issuance of common stock under ESPP 140    
Net proceeds from initial public offering of common stock     317,605
Net cash provided by financing activities 370 1,465 531,748
Net increase (decrease) in cash, cash equivalents and restricted cash (576,022) (85,544) 828,456
Cash, cash equivalents and restricted cash at the beginning of period 764,680 850,224 21,768
Cash, cash equivalents and restricted cash at the end of period 188,658 764,680 850,224
Cash, cash equivalents and restricted cash at the end of period      
Cash and cash equivalents 188,460 764,375 850,117
Restricted cash 198 305 107
Cash, cash equivalents and restricted cash at the end of period 188,658 $ 764,680 850,224
Supplemental disclosure of non-cash financing activities      
Conversion of preferred stock to common stock upon closing of initial public offering     $ 283,230
Right of use assets obtained in exchange for operating lease liabilities $ 2,938