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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income (loss) $ (34,319) $ (38,760) $ (168,627)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,325 2,815 11,235
Accrued Interest (2,271) 1,622 (651)
Asset write-downs and impairment of field equipment 2,261 194 1,159
Share-based compensation 29,552 34,084 160,035
Foreign currency remeasurement loss (gain) (49) 613 (227)
Decrease (increase) in accounts receivables and prepaid expenses (8,606) (3,275) (26,358)
Amortization of discount (premium) (6,654) (5,381) (25,644)
Decrease (increase) in inventories (3,941) (4,650) 2,568
Decrease (increase) in other long-term assets 2,578 1,174 7,395
Increase (decrease) in accounts payables and accrued expenses (16,420) (18,245) 19,106
Increase (decrease) in other long-term liabilities (1,121) (1,765) (6,360)
Net cash provided by (used in) operating activities (35,665) (31,574) (26,369)
Cash flows from investing activities:      
Purchase of property, equipment and field equipment (10,611) (11,784) (42,855)
Proceeds from maturity of short-term investments 120,000 258,000 778,000
Purchase of short-term investments (115,861) 0 (875,387)
Net cash provided by (used in) investing activities (6,472) 246,216 (140,242)
Cash flows from financing activities:      
Proceeds from issuance of shares, net 0 0 4,150
Proceeds from senior secured credit facility, net 0 0 96,922
Repayment and redemption of long-term debt 0 0 (12,913)
Exercise of options 5,247 213 2,156
Net cash provided by (used in) financing activities 5,247 213 90,315
Effect of exchange rate changes on cash, cash equivalents and restricted cash 227 (56) (174)
Increase (decrease) in cash, cash equivalents and restricted cash (36,663) 214,799 (76,470)
Cash, cash equivalents and restricted cash at the beginning of the period 166,094 242,564 242,564
Cash, cash equivalents and restricted cash at the end of the period 129,431 457,363 166,094
Cash paid during the period for:      
Income taxes paid (refunded), net 4,971 2,914 23,463
Interest paid 2,645 2 7,714
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 127,279 453,763 163,767
Restricted cash 2,152 3,600 2,327
Total cash, cash equivalents and restricted cash 129,431 457,363 166,094
Non-cash activities:      
Right-of-use assets obtained (disposed) in exchange for lease liabilities 23,492 282 494
Purchase of property incurred but unpaid at period end $ 253 $ 1,062 $ 1,619