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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (10,027) $ (37,698)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 9,690 1,436
Net amortization of premiums and discounts on short-term investments (6,331) (5,599)
Share-based compensation expense 14,323 21,735
Foreign exchange on finance lease liability (5,705) 417
Other, net 275 (3,652)
Net changes in operating assets and liabilities    
Accounts receivable, net (1,433) (6,016)
Inventories, net 852 (8,403)
Prepaid expenses and other current assets (4,305) 2,374
Non-current operating assets (12) (16)
Accounts payable, accrued and other liabilities 283 1,245
Operating lease liabilities (365) (319)
Net cash used in operating activities (2,755) (34,496)
Cash flows from investing activities    
Purchase of investments (318,126) (256,439)
Proceeds from investments 328,877 288,291
Upfront lease payment (44) (11,864)
Purchase of property and equipment 0 (524)
Capitalized patent costs (96) (212)
Net cash provided by investing activities 10,611 19,252
Cash flows from financing activities    
Repurchase of common shares (18,435) 0
Principal portion of finance lease payments (6,001) 0
Proceeds from exercise of stock options and employee share purchase plan 1,112 2,779
Cash (used in) provided by financing activities (23,324) 2,779
Net decrease in cash, cash equivalents and restricted cash (15,468) (12,465)
Cash, cash equivalents and restricted cash, beginning of period 48,875 94,172
Cash, cash equivalents and restricted cash, end of period 33,407 81,707
Supplemental cash flow information    
Cash received for interest 2,132 2,713
Cash paid for income taxes (1,459) (277)
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash, cash equivalents 33,265 81,389
Restricted cash 142 318
Total cash, cash equivalents and restricted cash $ 33,407 $ 81,707