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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net loss $ (55,645) $ (66,303)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,729 2,735
Stock-based compensation 13,012 12,954
Accretion of discount on issued term debt 489 361
Accretion of discount on short-term investments, net (3,476) (4,244)
Changes in operating assets and liabilities:    
Accounts receivable (3,416) (2,818)
Prepaid expenses and other current assets 946 3,207
Operating lease right-of-use assets 1,764 1,679
Accounts payable (277) (131)
Accrued expenses and other liabilities (1,260) (4,565)
Operating lease liabilities (1,976) (1,823)
Deferred revenue 70,425 (12,363)
Net cash provided by (used in) operating activities 23,315 (71,311)
Investing Activities:    
Purchases of property and equipment (1,149) (1,968)
Purchases of short-term investments (156,050) (109,374)
Proceeds from maturities of short-term investments 120,000 150,000
Net cash provided by (used in) investing activities (37,199) 38,658
Financing Activities:    
Proceeds from issuance of common stock under employee stock compensation plans 549 752
Payment of taxes related to net share settlement of equity awards (592) (494)
Proceeds from issuance of common stock through ATM offering, net of issuance costs   928
Net cash provided by (used in) financing activities (43) 1,186
Net decrease in cash and cash equivalents (13,927) (31,467)
Cash and cash equivalents at beginning of period 44,472 81,378
Cash and cash equivalents at end of period 30,545 49,911
Non-cash operating, investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued liabilities 284 193
Supplemental disclosure of cash flow information:    
Interest paid $ 4,045 $ 3,775