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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net loss $ (190,426) $ (434,801) $ (547,799)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 30,968 24,097 16,702
Expensed in-process research and development   2,679 9,290
Non-cash lease expense 15,325 14,519 13,770
Stock-based compensation 274,428 191,808 152,384
Amortization of premiums and accretion of purchase discounts on investment securities (618) 1,087 4,837
Loss on investments     906
Foreign exchange adjustment 462 265 (2)
Amortization of debt discount and issuance cost 991 1,292 1,259
Non-cash interest expense 2,835 52 302
Non-cash expense recovery (442)    
Changes in operating assets and liabilities:      
Accounts receivable (35,876) (33,904) (122,311)
Inventory (3,985) (5,353) (8,497)
Operating lease right-of-use assets   8,354 622
Prepaid expenses and other assets 10,807 (26,072) (1,202)
Accounts payable 13,210 (15,458) 5,462
Accrued compensation 40,328 21,619 3,069
Operating lease liabilities (16,819) (12,448) (9,999)
Other accrued liabilities (6,376) 10,347 47,650
Deferred revenue 852 4,962 2,056
Net cash provided by (used in) operating activities 135,664 (246,955) (431,501)
Investing activities:      
Purchases of investments (122,010) (98,303) (86,947)
Proceeds from sale of investments 24,822   248,482
Proceeds from maturity of investments 314,400 306,000 216,500
Purchases of property and equipment (66,423) (39,199) (47,697)
Investment in related party (2,670)    
Cash paid for acquisition of intangible assets (10,495)    
Net cash provided by investing activities 137,624 168,498 330,338
Financing activities:      
Proceeds from exercise of stock options 12,988 3,892 6,411
Proceeds from the issuance of common stock under the employee stock purchase plan 17,298 15,128 13,037
Proceeds from public offering, net of issuance cost   235,441 433,192
Proceeds from Credit Line     30,000
Cash redemption on Convertible Note (82)    
Net cash provided by financing activities 30,204 254,461 482,640
Net change in cash, cash equivalents and restricted cash 303,492 176,004 381,477
Beginning cash, cash equivalents and restricted cash 642,095 466,091 84,614
Ending cash, cash equivalents and restricted cash 945,587 642,095 466,091
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 1,307 295 549
Cash paid for interest 7,897 11,346 8,060
Non-cash activities:      
Purchases of property and equipment in accounts payable and accruals 9,374 1,582 $ (1,940)
Acquisition of warrants 9,424    
Amounts accrued for acquisition of intangible assets 1,400    
Issuance of common stock for IPR&D milestone   14,435  
Issuance of common stock for bonuses 24,071 19,774  
Stock-based compensation included in capitalized software development costs 2,263 $ 629  
Debt and interest converted into equity $ 286,730