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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (58,141) $ (12,892)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Equity-based compensation expense 7,259 6,565
Depreciation and amortization 72 13
Amortization or accretion on marketable securities (1,371) 946
Non Cash Contributions From Noncontrolling Interests 4 0
Deferred Income Tax Benefit 0 (19,568)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (755) (1,140)
Accounts payable (630) 3,137
Accrued expenses and other current liabilities 2,640 1,031
Income tax payable (75) 0
Net cash used in operating activities (50,997) (21,908)
Investing activities:    
Proceeds from sales and maturities of marketable securities 104,482 91,731
Purchase of marketable securities (89,139) (57,020)
Purchase of property and equipment (159) 0
Net cash provided by (used in) investing activities 15,184 34,711
Financing activities:    
Contributions From Noncontrolling Interests 0 1,153
Issuance Of Convertible Notes 1,825 800
Proceeds from net issuance of common stock under equity-based compensation plans (36) 1,588
Net cash provided by financing activities 1,789 3,541
Net increase (decrease) in cash and cash equivalents (34,024) 16,344
Cash and cash equivalents at beginning of period 156,152 59,774
Cash and cash equivalents at end of period 122,128 76,118
Non-cash financing activities and supplemental cash flow information    
Conversion Of Convertible Note Into Noncontrolling Interest 175 0
Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities 49 0
Cash paid for income taxes 75 0
Tax Withholding On Stock Awards Not Yet Paid $ 0 $ 22