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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 178,902 $ (121,591)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,800 1,687
Share-based compensation expense 18,748 19,042
Non-cash lease expense 2,253 1,895
Amortization of premiums and accretion of discounts on short-term investments 121 617
Loss on disposal of property and equipment 23  
Deferred income taxes (185,843)  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (8,726) 1,034
Accounts receivable, net (7,174) (3,224)
Inventory (10,946) (5,606)
Other long-term assets 2,919 (1,059)
Accounts payable (399) 1,116
Accrued expenses and other current liabilities 82 295
Operating lease liabilities (2,217) (1,700)
Deferred revenue 26,290  
Other long-term liabilities 1,550 80
Net cash provided (used) in operating activities 17,383 (107,414)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 81  
Purchases of property and equipment (137) (164)
Purchases of short-term investments (73,062) (97,460)
Proceeds from the maturities of short-term investments 107,700 296,300
Intangible asset acquired   (20,000)
Net cash provided by investing activities 34,582 178,676
Cash flows from financing activities:    
Proceeds from issuance of Class A common shares under incentive award plans and employee share purchase plans 2,127 4,673
Payments in connection with Common Stock tendered for employee tax obligations (801)  
Net cash provided by financing activities 1,326 4,673
Net increase in cash, cash equivalents and restricted cash 53,291 75,935
Cash, cash equivalents and restricted cash at beginning of period 122,470 114,248
Cash, cash equivalents and restricted cash at end of period 175,761 190,183
Supplemental information:    
Cash paid for income taxes 4,608 859
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease obligation $ 2,876 $ 1,462