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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income (loss) $ (30,570) $ (49,485) $ (102,705) $ (159,964) $ (207,043)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Depreciation and amortization 2,458 2,803 8,131 8,246 10,969
Accrued Interest (1,213) 480 60 530 (95)
Asset write-downs and impairment of field equipment 450 112 784 374 493
Share-based compensation 31,364 26,346 97,278 98,170 115,608
Foreign currency remeasurement loss (gain) (503) 1,398 763 2,185 161
Decrease (increase) in accounts receivables and prepaid expenses 5,411 2,642 (8,983) 24,094 29,414
Amortization of discount (premium) (6,737) (6,691) (18,972) (15,822) (23,084)
Decrease (increase) in inventories 1,895 (4,080) (867) (8,250) (8,919)
Decrease (increase) in other long-term assets 1,906 3,971 7,969 3,585 4,072
Increase (decrease) in accounts payables and accrued expenses 7,452 6,265 (1,245) (3,992) 14,869
Increase (decrease) in other long-term liabilities (1,537) (3,075) (5,131) (7,934) (9,781)
Net cash provided by (used in) operating activities 10,376 (19,314) (22,918) (58,778) (73,336)
Cash flows from investing activities:          
Purchase of property, equipment and field equipment (10,683) (7,253) (33,913) (20,272) (27,093)
Proceeds from maturity of short-term investments 190,000 275,549 608,000 916,433 1,214,982
Purchase of short-term investments (169,124) (251,038) (692,118) (810,513) (1,003,741)
Net cash provided by (used in) investing activities 10,193 17,258 (118,031) 85,648 184,148
Cash flows from financing activities:          
Proceeds from issuance of shares, net 0 0 2,187 2,883 4,416
Proceeds from senior secured credit facility, net 0 0 96,922 0 0
Repayment and redemption of long-term debt 0 0 (12,913) (10) (10)
Exercise of options 100 1,171 1,434 11,004 11,381
Net cash provided by (used in) financing activities 100 1,171 87,630 13,877 15,787
Effect of exchange rate changes on cash, cash equivalents and restricted cash 87 (97) (46) (69) 131
Increase (decrease) in cash, cash equivalents and restricted cash 20,756 (982) (53,365) 40,678 126,730
Cash, cash equivalents and restricted cash at the beginning of the period 168,443 157,494 242,564 115,834 115,834
Cash, cash equivalents and restricted cash at the end of the period 189,199 156,512 189,199 156,512 242,564
Cash paid during the period for:          
Income taxes paid (refunded), net 6,637 1,202 17,053 8,745 13,665
Interest paid 2,964 0 4,934 1 6
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 185,422 154,860 185,422 154,860 240,821
Restricted cash 3,777 1,652 3,777 1,652 1,743
Total cash, cash equivalents and restricted cash 189,199 156,512 189,199 156,512 242,564
Non-cash activities:          
Right-of-use assets obtained (disposed) in exchange for lease liabilities 757 4,693 (610) 10,477 18,063
Purchase of property incurred but unpaid at period end $ 201 $ 0 $ 201 $ 0 $ 1,714