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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss before allocation to noncontrolling interest $ (199,531) $ (171,154)
Adjustments to reconcile net loss before noncontrolling interest to cash used in operating activities:    
Depreciation and amortization 22,678 40,336
Amortization of debt issuance costs 721 1,901
Loss on disposal of property and equipment 0 2,221
Loss on remeasurement of warrant liabilities 68,238 47,926
Stock-based compensation 18,351 13,807
Paid-in-kind ("PIK") interest expense 497 2,959
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,982) (10,128)
Accounts payable and accrued expenses 20,675 (14,873)
Operating lease right-of-use assets and operating lease liabilities (59) (21)
Contract liabilities 1,086 21,780
Other assets and liabilities (2,698) 972
Net cash used in operating activities (72,024) (64,274)
Cash flows from investing activities:    
Purchase of property and equipment (430,622) (61,770)
Net cash used in investing activities (430,622) (61,770)
Cash flows from financing activities:    
Proceeds from debt 473,498 145,000
Repayments of debt (926) (124)
Payment for debt issuance costs (6,516) (5,162)
Proceeds from issuance of common stock 462,776 189,921
Payments for third party equity issuance costs (9,843) (2,757)
Issuance of equity under employee stock plan 7,193 105
Employee taxes paid for stock-based compensation awards (6,027) (1,240)
Purchase of capped call transactions (44,528) 0
Net cash provided by financing activities 875,627 325,743
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,115) (229)
Net increase in cash, cash equivalents and restricted cash 371,866 199,470
Cash, cash equivalents and restricted cash, beginning of period 567,534 88,097
Cash, cash equivalents and restricted cash, end of period 939,400 287,567
Non-cash activities:    
Right-of-use assets obtained in exchange for operating lease liabilities 1,505 0
Purchases of property and equipment in accounts payable and accrued expenses 22,155 8,073
PIK interest paid through issuance of PIK notes 497 2,959
Deferred asset acquisition costs paid by issuance of penny warrants 121,156 0
2034 Convertible Notes settled by issuance of Class A Common Stock 139,620 0
Interest 813 4,422
Income taxes, net $ 1,323 $ 902