XML 81 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income (loss) $ 126,038 $ (23,546) $ (65,678)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 17,088 9,515 7,474
Stock-based compensation 92,322 66,080 42,817
Change in fair value of liabilities 0 1,075 (70)
Net (accretion) amortization on securities (4,355) (5,686) 146
Benefit for deferred taxes (61,649) (13) (594)
Impairment of long-lived assets 114 429 1,127
Non-cash operating lease cost 2,546 1,922 1,605
Non-cash acquisition-related costs 0 2,691 837
Non-cash other 357 195 0
Changes in operating assets and liabilities:      
Inventory (41,612) (902) (8,004)
Prepaid expenses and other current assets (9,494) (6,395) (6,335)
Other long-term assets (56) (58) 17
Accounts payable 43,710 7,324 12,723
Accrued liabilities 23,791 16,524 909
Deferred revenue 67,552 6,261 (1,716)
Operating lease liabilities (2,443) (1,933) (1,605)
Earn-out payable (2,825) 0 (10,184)
Net cash provided by (used in) operating activities 251,084 73,483 (26,531)
Investing activities      
Purchases of investments (160,564) (157,239) (187,700)
Maturities of investments 208,940 170,051 194,259
Proceeds from sales of investments 725 1,574 35,846
Investment in website and mobile application development and internal-use software (11,095) (9,272) (4,533)
Purchases of property, equipment, and intangible assets (41,655) (17,220) (2,714)
Acquisition of business, net of cash acquired (15,399) 0 0
Deferred consideration paid for acquisitions 0 0 (459)
Net cash (used in) provided by investing activities (19,048) (12,106) 34,699
Financing activities      
Proceeds from exercise of vested stock options 26,651 2,322 2,246
Payments for taxes related to net share settlement of equity awards (52,501) (14,096) (3,901)
Repurchases of common stock (83,039) (1,999) 0
Payments for acquisition-related earn-out consideration (3,190) 0 (32,650)
Proceeds from employee stock purchase plan 3,901 2,298 1,178
Proceeds from exercise of Class A common stock warrants 333 0 0
Net cash used in financing activities (107,845) (11,475) (33,127)
Foreign currency effect on cash and cash equivalents (270) (11) (53)
Increase (decrease) in cash, cash equivalents, and restricted cash 123,921 49,891 (25,012)
Cash, cash equivalents, and restricted cash at beginning of period 97,519 47,628 72,640
Cash, cash equivalents, and restricted cash at end of period 221,440 97,519 47,628
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 220,584 96,663 46,772
Restricted cash 856 856 856
Total cash, cash equivalents, and restricted cash 221,440 97,519 47,628
Supplemental disclosures of cash flow information      
Cash paid for taxes 7,916 1,109 636
Non-cash investing and financing activities      
Purchases of property and equipment included in accounts payable and accrued liabilities 7,781 3,383 0
Right-of-use asset obtained in exchange for lease liability 2,593 6,270 1,206
Vesting of early exercised stock options 0 0 197
Issuance of common stock for acquisition-related earn-out consideration 1,396 0 0
Issuance of common stock and liabilities assumed in connection with acquisition of business $ 16,000 $ 0 $ 0