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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net Income (Loss) $ (43,529) $ (47,390)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 15,245 18,476
Depreciation and amortization 2,996 2,553
Loss on disposal of property and equipment 249 255
Net amortization (accretion) of premium (discount) on available-for-sale securities 1,954 (5,391)
Provision for inventory excess and obsolescence 62 300
Non-cash operating lease expense 58 111
Changes in operating assets and liabilities:    
Accounts receivable, net 1,015 719
Prepaid expenses and other assets 314 (1,654)
Inventory (2,793) (2,147)
Accounts payable 3,413 (101)
Deferred revenue (17) 122
Accrued liabilities and other liabilities 508 (317)
Net cash used in operating activities (20,525) (34,464)
INVESTING ACTIVITIES    
Purchases of property and equipment (1,928) (1,269)
Purchase of available-for-sale securities (168,524) (269,870)
Proceeds from sale of available-for-sale securities 0 2,990
Proceeds from maturities of available-for-sale securities 194,025 305,567
Net cash provided by investing activities 23,573 37,418
FINANCING ACTIVITIES    
Proceeds from exercise of Class A common stock options 0 50
Repurchases of Class A common stock under share repurchase program (3,747) 0
Proceeds from issuance of Class A common stock in connection with employee stock purchase plan 147 192
Net cash (used in) provided by financing activities (3,600) 242
Net (decrease) increase in cash, cash equivalents and restricted cash (552) 3,196
Cash, cash equivalents and restricted cash, beginning of period 33,023 53,732
Cash, cash equivalents and restricted cash, end of period 32,471 56,928
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Capitalized stock-based compensation related to internal-use software development 109 0
Property and equipment purchases included in accounts payable and accrued expenses 224 3,398
Inventory transferred to property and equipment 0 1,211
Property and equipment transferred to inventory $ 359 $ 0