XML 25 R9.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ (136,227) $ (168,627) $ (207,043)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 14,650 11,235 10,969
Accrued interest 4,949 (651) (95)
Asset write-downs and impairment of field equipment 4,851 1,159 493
Share-based compensation 104,832 160,035 115,608
Foreign currency remeasurement loss (gain) 1,251 (227) 161
Decrease (increase) in accounts receivables and prepaid expenses (38,938) (26,358) 29,414
Amortization of discount (premium) (23,262) (25,644) (23,084)
Decrease (increase) in inventories (5,668) 2,568 (8,919)
Decrease (increase) in other long-term assets 10,847 7,395 4,072
Increase (decrease) in accounts payables and accrued expenses 18,958 19,106 14,869
Increase (decrease) in other long-term liabilities (5,274) (6,360) (9,781)
Net cash provided by (used in) operating activities (49,031) (26,369) (73,336)
Cash flows from investing activities:      
Purchase of property, equipment and field equipment (26,648) (42,855) (27,093)
Proceeds from maturity of short-term investments 1,285,000 778,000 1,214,982
Purchase of short-term investments (821,076) (875,387) (1,003,741)
Net cash provided by (used in) investing activities 437,276 (140,242) 184,148
Cash flows from financing activities:      
Proceeds from issuance of shares, net 3,656 4,150 4,416
Proceeds from senior secured credit facility, net 99,979 96,922 0
Repayment and redemption of long-term debt (560,945) (12,913) (10)
Tax payments related to net settlements on equity awards (146) 0 0
Exercise of options 6,113 2,156 11,381
Net cash provided by (used in) financing activities (451,343) 90,315 15,787
Effect of exchange rate changes on cash, cash equivalents and restricted cash 394 (174) 131
Increase (decrease) in cash, cash equivalents and restricted cash (62,704) (76,470) 126,730
Cash, cash equivalents and restricted cash at the beginning of the year 166,094 242,564 115,834
Cash, cash equivalents and restricted cash at the end of the year 103,390 166,094 242,564
Cash paid during the year for:      
Income taxes paid (refunded), net 30,673 23,463 13,665
Interest paid 13,406 7,714 6
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 93,548 163,767 240,821
Restricted cash 9,842 2,327 1,743
Total cash, cash equivalents and restricted cash 103,390 166,094 242,564
Non-cash activities:      
Right-of-use assets obtained in exchange for lease liabilities 29,369 494 18,063
Purchase of property incurred but unpaid at period end $ 886 $ 1,619 $ 1,714