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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (49,144) $ (82,394)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit loss (gain) 1 (1)
Inventory write-down 377 138
Depreciation and amortization expenses 2,657 2,013
Amortization of deferred income (582) (708)
Share-based compensation 16,661 12,410
Share of loss from equity method investment 0 221
(Gain) Loss from fair value changes of equity investment with readily determinable fair value (441) 6,939
Loss (gain) on disposal of property and equipment 64 (11)
Non-cash lease expenses 2,464 2,017
Foreign currency remeasurement gain (8,912) (2,285)
Changes in operating assets and liabilities:    
Accounts receivable (2,852) 14,080
Notes receivable (8,599) (3,513)
Inventories (6,686) (1,475)
Prepayments and other current assets (6,470) 1,531
Long-term deposits 72 (71)
Value added tax recoverable 0 3,092
Accounts payable (327) (28,002)
Other current liabilities (15,593) (8,837)
Operating lease liabilities (2,141) (2,389)
Deferred income 9,839 118
Other non-current liabilities 325 0
Net cash used in operating activities (69,287) (87,127)
Cash flows from investing activities    
Purchases of short-term investments (100,000) (120,274)
Proceeds from maturity of short-term investment 49,450 100,000
Disposal of property and equipment 112 25
Purchases of property and equipment (3,513) (9,743)
Purchases of intangible assets (3) (152)
Net cash used in investing activities (53,954) (30,144)
Cash flows from financing activities    
Proceeds from exercises of stock options 1,197 297
Employee taxes paid related to settlement of equity awards (5,083) (39)
Net cash (used in) provided by financing activities (3,886) 258
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (1,299) (130)
Net decrease in cash, cash equivalents and restricted cash (128,426) (117,143)
Cash, cash equivalents and restricted cash - beginning of period 1,009,273 964,903
Cash, cash equivalents and restricted cash - end of period 880,847 847,760
Supplemental disclosure on non-cash investing and financing activities    
Payables for purchase of property and equipment 4,232 668
Payables for intangible assets 268 73
Payables for treasury stock 0 55
Receivables for stock option exercise under equity incentive plans 476 0
Right-of-use asset acquired under operating leases 2,662 4,596
Receivables for dispose of property and equipment 10 0
Supplemental disclosure of cash flow information:    
Cash and cash equivalents 879,844 846,957
Restricted cash, non-current 1,003 803
Total cash and cash equivalents and restricted cash $ 880,847 $ 847,760