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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (239,191) $ (381,517)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit loss (gain) 1 (3)
Inventory write-down 746 480
Depreciation and amortization expenses 6,570 6,100
Amortization of deferred income (2,547) (2,041)
Share-based compensation 59,164 45,742
Share of loss from equity method investment 0 221
Loss from fair value changes of equity investment with readily determinable fair value 1,965 12,067
Loss (gain) on disposal of property and equipment 139 (11)
Gain on disposal of land use right (408) 0
Noncash lease expenses 6,630 5,820
Gain from sale of intellectual property (10,000) 0
Foreign currency remeasurement loss 26,315 73,052
Changes in operating assets and liabilities:    
Accounts receivable (2,823) 16,483
Notes receivable (15,563) (3,861)
Inventories (14,408) (13,235)
Prepayments and other current assets 5,126 (5,860)
Long-term deposits 140 (459)
Value added tax recoverable 0 21,432
Accounts payable (9,494) (28,850)
Other current liabilities 227 1,628
Operating lease liabilities (5,794) (6,008)
Deferred income 9,619 470
Other non-current liabilities 325 0
Net cash used in operating activities (183,261) (258,350)
Cash flows from investing activities    
Purchases of short-term investments (134,000) (260,274)
Proceeds from maturity of short-term investment 102,400 705,274
Purchase of property and equipment (6,990) (20,172)
Proceeds from the sale of property and equipment 122 0
Purchase of intangible assets (658) (439)
Proceeds from sale of intellectual property 10,000 0
Proceeds from disposal of land use right 3,893 0
Net cash (used in) provided by investing activities (25,233) 424,389
Cash flows from financing activities    
Proceeds from exercises of stock options 1,899 5,640
Taxes paid related to settlement of equity awards (8,725) (7,171)
Net cash used in financing activities (6,826) (1,531)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3,355) (9,132)
Net (decrease) increase in cash, cash equivalents and restricted cash (218,675) 155,376
Cash, cash equivalents and restricted cash - beginning of period 1,009,273 964,903
Cash, cash equivalents and restricted cash - end of period 790,598 1,120,279
Supplemental disclosure on non-cash investing and financing activities    
Payables for purchase of property and equipment 2,625 3,234
Payables for intangible assets 98 32
Payables for treasury stock 31 32
Receivables for stock option exercise under equity incentive plans 0 31
Right-of-use asset acquired under operating leases 3,296 12,861
Supplemental disclosure of cash flow information    
Cash and cash equivalents 788,806 1,119,476
Restricted cash, non-current 1,792 803
Total cash and cash equivalents and restricted cash $ 790,598 $ 1,120,279