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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (89,165) $ (133,748)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit losses 1 3
Inventory write-down 294 756
Depreciation and amortization expenses 7,193 5,953
Amortization of deferred income (2,661) (1,679)
Share-based compensation 32,773 36,618
Loss from fair value changes of equity investment with readily determinable fair value 1,912 5,147
Losses on disposal of property and equipment 211 450
Noncash lease expenses 5,377 4,141
Debt issuance costs 104 700
Foreign currency remeasurement impact (3,488) 6,176
Changes in operating assets and liabilities:    
Accounts receivable (2,945) (10,842)
Notes receivable (6,611) (2,013)
Inventories (22,096) 2,037
Prepayments and other current assets 854 2,612
Other non-current assets 51 (232)
Accounts payable 6,474 (6,117)
Other current liabilities (15,948) (35,607)
Operating lease liabilities (5,418) (5,086)
Deferred income 365 (1,548)
Net cash used in operating activities (92,723) (132,279)
Cash flows from investing activities    
Proceeds from maturity of short-term investment 330,000 16,300
Proceeds from the sale of equity investment 1,203 0
Purchases of property and equipment (4,419) (1,715)
Proceeds from the sale of property and equipment 48 29
Acquisition of intangible assets (3,621) (12,168)
Net cash provided by investing activities 323,211 2,446
Cash flows from financing activities    
Proceeds from short-term debt 124,349 70,526
Repayment of short-term bank borrowings (82,818) 0
Payments of debt issuance costs (104) (700)
Proceeds from exercises of stock options 11,444 44
Payments of public offering costs (854) 0
Taxes paid related to settlement of equity awards (27) 0
Net cash provided by financing activities 51,990 69,870
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 125 (137)
Net increase (decrease) in cash, cash equivalents and restricted cash 282,603 (60,100)
Cash, cash equivalents and restricted cash - beginning of period 550,781 791,264
Cash, cash equivalents and restricted cash - end of period 833,384 731,164
Supplemental disclosure on non-cash investing and financing activities    
Payables for purchase of property and equipment 2,498 2,391
Payables for acquisition of intangible assets 2,419 32,525
Payables for public offering costs 168 0
Right-of-use asset acquired under operating leases 0 2,389
Receivables for stock option exercise under equity incentive plans 77 0
Supplemental disclosure of cash flow information    
Cash paid for interest $ 2,301 $ 496