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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 24,391 $ (3,637)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 8,901 2,679
Stock-based compensation expense 14,513 8,879
Non-cash interest expense and end of term accretion expense 1,547 593
Non-cash lease expense 650 423
Unrealized foreign currency transaction (gains) losses 200 (150)
Changes in operating assets and liabilities:    
Accounts receivable (17,650) (19,862)
Inventory (7,932) (10,977)
Prepaid expenses and other current assets (3,217) 515
Other non-current assets (24) (54)
Accounts payable 1,778 3,673
Accrued expenses and other current liabilities 630 4,196
Deferred revenue (504)  
Operating lease liabilities (1,000) (742)
Net cash provided by (used in) operating activities 22,283 (14,464)
Cash flows from investing activities:    
Purchases of property, plant and equipment (67,935) (2,307)
Net cash used in investing activities (67,935) (2,307)
Cash flows from financing activities:    
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $14,620   445,380
Purchases of capped calls related to convertible senior notes   (52,072)
Proceeds from issuance of common stock upon exercise of stock options 13,188 4,279
Proceeds from issuance of common stock in connection with employee stock purchase plan 638 384
Net cash provided by financing activities 13,826 397,971
Effect of exchange rate changes on cash, cash equivalents and restricted cash (235) 78
Net increase (decrease) in cash, cash equivalents and restricted cash (32,061) 381,278
Cash, cash equivalents and restricted cash, beginning of period 395,312 201,682
Cash, cash equivalents and restricted cash, end of period 363,251 582,960
Supplemental disclosure of non-cash activities:    
Transfers of inventory to property, plant and equipment 3,381 1,091
Purchases of property, plant and equipment included in accounts payable and accrued expenses 1,540 71
Operating lease liabilities arising from obtaining right-of-use assets   2,222
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 362,751 582,210
Restricted cash 500 750
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 363,251 $ 582,960