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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (170,039) $ (220,327)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit loss (gain) 3 (3)
Inventory write-down 623 193
Depreciation and amortization expenses 4,652 3,874
Amortization of deferred income (1,716) (1,386)
Share-based compensation 37,172 26,634
Share of loss from equity method investment 0 221
Loss from fair value changes of equity investment with readily determinable fair value 1,304 12,556
Loss (gain) on disposal of property and equipment 260 (11)
Gain on disposal of land use right (404) 0
Noncash lease expenses 4,383 3,825
Gain from sale of intellectual property (10,000) 0
Foreign currency remeasurement loss 31,167 32,610
Changes in operating assets and liabilities:    
Accounts receivable (8,863) 20,422
Notes receivable (12,714) (3,633)
Inventories (6,627) (4,582)
Prepayments and other current assets 87 48
Long-term deposits (184) (78)
Value added tax recoverable 0 23,602
Accounts payable 3,037 (17,718)
Other current liabilities (6,761) (3,100)
Operating lease liabilities (3,596) (3,849)
Deferred income 9,902 (1,325)
Other non-current liabilities 325 0
Net cash used in operating activities (127,989) (132,027)
Cash flows from investing activities    
Purchases of short-term investments (100,000) (260,274)
Proceeds from maturity of short-term investment 84,500 130,000
Purchase of property and equipment (5,234) (13,488)
Proceeds from the sale of property and equipment 112 0
Purchase of intangible assets (630) (107)
Proceeds from sale of intellectual property 10,000 0
Net cash used in investing activities (11,252) (143,869)
Cash flows from financing activities    
Proceeds from exercises of stock options 1,762 4,619
Taxes paid related to settlement of equity awards (7,141) (6,859)
Net cash used in financing activities (5,379) (2,240)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3,707) (5,144)
Net decrease in cash, cash equivalents and restricted cash (148,327) (283,280)
Cash, cash equivalents and restricted cash - beginning of period 1,009,273 964,903
Cash, cash equivalents and restricted cash - end of period 860,946 681,623
Supplemental disclosure on non-cash investing and financing activities    
Payables for purchase of property and equipment 4,344 1,661
Payables for intangible assets 96 270
Payables for treasury stock 1,531 17
Receivables for stock option exercise under equity incentive plans 0 12
Right-of-use asset acquired under operating leases 3,313 8,451
Receivables for disposal of land use right 3,867 0
Supplemental disclosure of cash flow information    
Cash and cash equivalents 859,155 680,820
Restricted cash, non-current 1,791 803
Total cash and cash equivalents and restricted cash $ 860,946 $ 681,623