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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net Income (Loss) $ (64,857) $ (68,478)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 21,768 26,810
Depreciation and amortization 4,568 3,998
Loss on disposal of property and equipment 270 258
Net amortization (accretion) of premium (discount) on available-for-sale securities 2,559 (8,545)
Provision for inventory excess and obsolescence 127 825
Non-cash operating lease expense 72 164
Loss on equity method investment 861 0
Changes in operating assets and liabilities:    
Accounts receivable, net 266 (728)
Prepaid expenses and other assets 226 (1,080)
Inventory (1,977) (1,634)
Accounts payable (327) (1,353)
Deferred revenue 148 52
Accrued liabilities and other liabilities 1,644 836
Net cash used in operating activities (34,652) (48,875)
INVESTING ACTIVITIES    
Purchases of property and equipment (4,120) (5,470)
Purchase of available-for-sale securities (209,214) (318,049)
Proceeds from sale of available-for-sale securities 0 2,990
Proceeds from maturities of available-for-sale securities 273,346 352,322
Purchase of equity security (10,000) 0
Net cash provided by investing activities 50,012 31,793
FINANCING ACTIVITIES    
Repurchase of Class A common stock 0 (13)
Proceeds from exercise of Class A common stock options 0 91
Repurchases of Class A common stock under share repurchase program (10,384) 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 (10,237) 270
Net increase (decrease) in cash, cash equivalents and restricted cash 5,123 (16,812)
Cash, cash equivalents and restricted cash, beginning of period 33,023 53,732
Cash, cash equivalents and restricted cash, end of period 38,146 36,920
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Capitalized stock-based compensation related to internal-use software development 164 0
Property and equipment purchases included in accounts payable and accrued expenses 47 250
Inventory transferred to property and equipment 0 1,211
Property and equipment transferred to inventory $ 594 $ 0