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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 60,589 $ 24,391
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 12,868 8,901
Stock-based compensation expense 18,330 14,513
Non-cash interest expense and end of term accretion expense 1,578 1,547
Non-cash lease expense 997 650
Unrealized foreign currency transaction (gains) losses (1,473) 200
Loss on disposal of fixed assets 80  
Changes in operating assets and liabilities    
Accounts receivable (6,616) (17,650)
Inventory 5,717 (7,932)
Prepaid expenses and other current assets 1,081 (3,217)
Other non-current assets (4) (24)
Accounts payable (410) 1,778
Accrued expenses and other current liabilities (2,413) 630
Deferred revenue (192) (504)
Operating lease liabilities (1,378) (1,000)
Net cash provided by operating activities 88,754 22,283
Cash flows from investing activities:    
Purchases of property, plant and equipment (36,113) (67,935)
Net cash used in investing activities (36,113) (67,935)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 8,831 13,188
Proceeds from issuance of common stock in connection with employee stock purchase plan 1,286 638
Net cash provided by financing activities 10,117 13,826
Effect of exchange rate changes on cash and restricted cash 1,167 (235)
Net increase (decrease) in cash and restricted cash 63,925 (32,061)
Cash and restricted cash, beginning of period 337,150 395,312
Cash and restricted cash, end of period 401,075 363,251
Supplemental disclosure of non-cash activities:    
Transfers of inventory to property, plant and equipment 2,251 3,381
Purchases of property, plant and equipment included in accounts payable and accrued expenses 1,240 1,540
Operating lease liabilities arising from obtaining right-of-use assets 324  
Reconciliation of cash and restricted cash:    
Cash 400,575 362,751
Restricted Cash 500 500
Total cash and restricted cash shown in the statement of cash flows $ 401,075 $ 363,251