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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income (loss) $ (37,270) $ (30,570) $ (111,728) $ (102,705) $ (168,627)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Depreciation and amortization 3,663 2,458 10,432 8,131 11,235
Accrued Interest 789 (1,213) 4,436 60 (651)
Asset write-downs and impairment of field equipment 230 450 2,915 784 1,159
Share-based compensation 29,321 31,364 85,016 97,278 160,035
Foreign currency remeasurement loss (gain) 890 (503) 2,212 763 (227)
Decrease (increase) in accounts receivables and prepaid expenses 3,577 5,411 (15,476) (8,983) (26,358)
Amortization of discount (premium) (6,402) (6,737) (19,516) (18,972) (25,644)
Decrease (increase) in inventories 886 1,895 (3,684) (867) 2,568
Decrease (increase) in other long-term assets 2,490 1,906 6,480 7,969 7,395
Increase (decrease) in accounts payables and accrued expenses 24,830 7,452 10,517 (1,245) 19,106
Increase (decrease) in other long-term liabilities (2,430) (1,537) (2,631) (5,131) (6,360)
Net cash provided by (used in) operating activities 20,574 10,376 (31,027) (22,918) (26,369)
Cash flows from investing activities:          
Purchase of property, equipment and field equipment (5,655) (10,683) (21,752) (33,913) (42,855)
Proceeds from maturity of short-term investments 185,000 190,000 725,000 608,000 778,000
Purchase of short-term investments (107,909) (169,124) (602,298) (692,118) (875,387)
Net cash provided by (used in) investing activities 71,436 10,193 100,950 (118,031) (140,242)
Cash flows from financing activities:          
Proceeds from issuance of shares, net 0 0 2,136 2,187 4,150
Proceeds from senior secured credit facility, net 99,979 0 99,979 96,922 96,922
Repayment and redemption of long-term debt 0 0 0 (12,913) (12,913)
Exercise of options 538 100 6,036 1,434 2,156
Net cash provided by (used in) financing activities 100,517 100 108,151 87,630 90,315
Effect of exchange rate changes on cash, cash equivalents and restricted cash (22) 87 470 (46) (174)
Increase (decrease) in cash, cash equivalents and restricted cash 192,505 20,756 178,544 (53,365) (76,470)
Cash, cash equivalents and restricted cash at the beginning of the period 152,133 168,443 166,094 242,564 242,564
Cash, cash equivalents and restricted cash at the end of the period 344,638 189,199 344,638 189,199 166,094
Cash paid during the period for:          
Income taxes paid (refunded), net 3,430 6,637 22,239 17,053 23,463
Interest paid 2,843 2,964 8,162 4,934 7,714
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 342,119 185,422 342,119 185,422 163,767
Restricted cash 2,519 3,777 2,519 3,777 2,327
Total cash, cash equivalents and restricted cash 344,638 189,199 344,638 189,199 166,094
Non-cash activities:          
Right-of-use assets obtained (disposed) in exchange for lease liabilities 2,678 757 27,788 (610) 494
Purchase of property incurred but unpaid at period end $ 370 $ 201 $ 370 $ 201 $ 1,619