XML 54 R10.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (443,286) $ (704,471) $ (268,905)
Adjustments to reconcile net loss to net cash used in operating activities:      
Allowance for credit loss 1 10 1
Inventory write-down 477 1,368 29
Depreciation and amortization expenses 8,227 6,487 4,640
Amortization of deferred income (2,602) (521) (312)
Share-based compensation 61,302 40,714 24,830
Non-cash research and development expenses 0 62,250 0
Share of loss from equity method investment 221 1,057 1,119
Loss from fair value changes of equity investment with readily determinable fair value 8,952 14,617 0
Loss (gain) on disposal of property and equipment 560 29 (21)
Non-cash lease expenses 8,350 6,119 4,318
Foreign currency remeasurement loss (gain) 56,403 (10,679) (21,659)
Changes in operating assets and liabilities:      
Accounts receivable 4,330 (42,319) (1,375)
Notes receivable (1,976) (7,335) 0
Inventories (15,382) (7,174) (7,168)
Prepayments and other current assets (19,258) (7,086) (4,199)
Long-term deposits (527) (8) (485)
Value added tax recoverable 22,781 (1,717) (8,404)
Accounts payable (53,773) 63,522 39,981
Other current liabilities 7,392 30,142 10,682
Operating lease liabilities (8,455) (5,385) (3,416)
Deferred income (1,379) 11,149 14,289
Net cash used in operating activities (367,642) (549,231) (216,055)
Cash flows from investing activities      
Purchases of short-term investments (260,274) (445,000) (949,161)
Proceeds from maturity of short-term investments 705,274 743,902 405,000
Purchases of investment in equity investee 0 (30,000) 0
Purchases of property and equipment (24,585) (18,295) (10,130)
Proceeds from disposal of property and equipment 0 3 0
Purchases of intangible assets (399) (653) (539)
Net cash provided by (used in) investing activities 420,016 249,957 (554,830)
Cash flows from financing activities      
Repayment of short-term borrowings 0 0 (6,527)
Proceeds from exercises of stock options 5,870 7,417 6,664
Proceeds from issuance of ordinary shares upon public offerings 0 818,875 1,137,683
Payment of public offering costs 0 (1,837) (5,380)
Employee taxes paid related to settlement of equity awards (7,600) (4,253) 0
Net cash (used in) provided by financing activities (1,730) 820,202 1,132,440
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (6,274) 1,116 4,862
Net increase in cash, cash equivalents and restricted cash 44,370 522,044 366,417
Cash, cash equivalents and restricted cash — beginning of the year 964,903 442,859 76,442
Cash, cash equivalents and restricted cash — end of the year 1,009,273 964,903 442,859
Supplemental disclosure on non-cash investing and financing activities      
Payables for purchase of property and equipment 5,269 2,568 788
Payables for purchase of intangible assets 163 191 70
Payables for public offering costs 0 0 1,063
Payables for treasury stock 2 26 0
Right-of-use asset acquired under operating leases 14,801 2,183 6,393
Receivables for disposal of property and equipment 64 0 0
Supplemental disclosure of cash flow information      
Cash and cash equivalents 1,008,470 964,100 442,116
Restricted cash, non-current 803 803 743
Total cash and cash equivalents and restricted cash 1,009,273 964,903 442,859
Interest paid $ 0 $ 0 $ 189