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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 757,263 $ 449,667
Restricted cash, current 100,000 100,000
Short-term investments 0 330,000
Accounts receivable (net of allowance for credit losses of $22 and $25 as of March 31, 2025 and December 31, 2024, respectively) 76,555 85,178
Notes receivable 11,118 4,233
Inventories, net 53,054 39,875
Prepayments and other current assets 43,878 41,527
Total current assets 1,041,868 1,050,480
Restricted cash, non-current 1,113 1,114
Property and equipment, net 49,654 47,961
Operating lease right-of-use assets 19,081 21,496
Land use rights, net 2,882 2,907
Intangible assets, net 56,198 56,027
Other non-current assets 2,534 5,768
Total assets 1,173,330 1,185,753
Current liabilities    
Accounts payable 103,017 100,906
Current operating lease liabilities 6,574 8,048
Short-term debt 173,405 131,711
Other current liabilities 36,811 58,720
Total current liabilities 319,807 299,385
Deferred income 30,126 31,433
Non-current operating lease liabilities 12,319 13,712
Other non-current liabilities 325 325
Total liabilities 362,577 344,855
Commitments and contingencies (Note 17)
Shareholders’ equity    
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 1,089,076,400 and 1,082,614,740 shares issued as of March 31, 2025 and December 31, 2024, respectively; 1,084,164,200 and 1,077,702,540 shares outstanding as of March 31, 2025 and December 31, 2024, respectively) 7 7
Additional paid-in capital 3,283,800 3,264,295
Accumulated deficit (2,501,521) (2,453,083)
Accumulated other comprehensive income 49,303 50,515
Treasury Stock (at cost, 4,912,200 shares as of both March 31, 2025 and December 31, 2024) (20,836) (20,836)
Total shareholders’ equity 810,753 840,898
Total liabilities and shareholders’ equity $ 1,173,330 $ 1,185,753
Ordinary shares, shares outstanding (in shares) 1,084,164,200 1,077,702,540
Ordinary shares, shares issued (in shares) 1,089,076,400 1,082,614,740