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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income (loss) $ 24,425,000 $ (17,224,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,644,000 4,494,000
Stock-based compensation 43,074,000 31,012,000
Change in fair value of liabilities 0 468,000
Net accretion on securities (2,281,000) (2,517,000)
Impairment of long-lived assets 114,000 429,000
Non-cash operating lease cost 1,221,000 914,000
Non-cash acquisition-related costs 0 1,066,000
Non-cash other 412,000 55,000
Changes in operating assets and liabilities:    
Inventory (18,124,000) 145,000
Prepaid expenses and other current assets (1,430,000) (4,756,000)
Other long-term assets (47,000) (32,000)
Accounts payable 16,156,000 5,438,000
Accrued liabilities (24,000) 7,159,000
Deferred revenue 13,257,000 586,000
Operating lease liabilities (1,140,000) (928,000)
Earn-out payable (2,825,000) 0
Net cash provided by operating activities 79,432,000 26,309,000
Investing activities    
Purchases of investments (97,539,000) (65,376,000)
Maturities of investments 126,095,000 72,334,000
Proceeds from sales of investments 0 676,000
Investment in website development and internal-use software (6,191,000) (4,062,000)
Purchases of property, equipment, and intangible assets (13,793,000) (5,312,000)
Net cash provided by (used in) investing activities 8,572,000 (1,740,000)
Financing activities    
Proceeds from exercise of vested stock options 16,472,000 560,000
Payments for taxes related to net share settlement of equity awards (22,281,000) (7,411,000)
Repurchases of common stock (47,996,000) 0
Proceeds from employee stock purchase plan 1,622,000 898,000
Payments for acquisition-related earn-out consideration (3,190,000) 0
Net cash used in financing activities (55,373,000) (5,953,000)
Foreign currency effect on cash and cash equivalents 1,000 29,000
Increase in cash, cash equivalents, and restricted cash 32,632,000 18,645,000
Cash, cash equivalents, and restricted cash at beginning of period 97,519,000 47,628,000
Cash, cash equivalents, and restricted cash at end of period 130,151,000 66,273,000
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 129,295,000 65,417,000
Restricted cash 856,000 856,000
Total cash, cash equivalents, and restricted cash 130,151,000 66,273,000
Supplemental disclosures of cash flow information    
Cash paid for taxes 3,468,000 626,000
Non-cash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued liabilities 1,256,000 466,000
Right-of-use asset obtained in exchange for lease liability 2,174,000 591,000
Issuance of common stock for acquisition-related earn-out consideration $ 1,396,000 $ 0