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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 46,925 $ (33,614) $ (59,494)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:      
Provision for loss (gains) on accounts receivable 467 (2) (20)
Loss on disposal of property, plant and equipment 1,284 4,321 396
Share-based compensation 51,807 24,935 26,092
Inventory obsolescence 347 0 3,455
Depreciation and amortization 73,615 58,517 34,555
Write-off and amortization of deferred financing costs and loan discount 2,089 4,060 795
Change in operating lease right of use asset 1,350 1,549 1,372
Loss on equity method investment 0 1,890 3,731
Gain on equity investment (9,918) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (12,228) 820 (32,993)
Inventories (15,484) (1,207) (26,171)
Prepaid expenses and other current assets 269 (2,249) (435)
Other assets (5,063) (4,053) (3,141)
Accounts payable 12,484 3,543 (3,063)
Accrued expenses 7,811 19,237 13,078
Operating lease liability (1,467) (1,807) (1,384)
Net cash flows provided by (used in) operating activities 154,288 75,940 (43,227)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of property, plant and equipment, software and deposits on equipment (187,092) (239,093) (230,071)
Purchase of short-term investments 0 (113,441) (19,840)
Proceeds from maturities of short-term investments 0 113,441 19,840
Investments in equity method investment 0 0 (3,293)
Net cash flows used in investing activities (187,092) (239,093) (233,364)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercise of options to purchase common stock 9,138 4,517 471
Tax withholdings related to net shares settlements of restricted stock units (2,595) (1,400) (1,441)
Principal payments under finance lease obligations (1,977) (1,109) 0
Purchase of capped call options 0 (66,211) 0
Proceeds from issuance of convertible senior notes 0 393,518 0
Debt issuance costs 0 (2,026) 0
Proceeds from borrowings under Credit Facility 0 0 78,000
Repayment of borrowings under Credit Facility 0 0 (78,000)
Proceeds from common shares issued in primary offering, net of issuance cost 0 0 337,508
Net cash flows provided by financing activities 4,566 327,289 336,538
NET CHANGE IN CASH AND CASH EQUIVALENTS (28,238) 164,136 59,947
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 296,871 132,735 72,788
CASH AND CASH EQUIVALENTS, END OF PERIOD 268,633 296,871 132,735
SUPPLEMENTAL CASH FLOW INFORMATION:      
Taxes paid 193 308 297
Interest paid, net of amounts capitalized 10,154 9,303 3,152
Operating right-of-use assets obtained in exchange for lease obligations 1,785 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:      
Property, plant and equipment and software purchases in accounts payable and accrued expenses 7,760 19,286 44,258
Tax withholdings related to net shares settlements of restricted stock units in accrued expenses 746 0 0
Non-cash addition of finance lease to property, plant and equipment 0 29,187 0
Issuance of partner warrants $ 0 $ 0 $ 9,775