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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (120,380) $ (72,355) $ (3,115)
Share-based compensation expense 32,363 31,481 11,974
Allowance for current expected credit losses 5,391 [1] 4,828 [1] 1,365
Depreciation of property and equipment 9,497 8,281 4,460
Amortization of intangible assets 2,322 1,933 0
Deferred tax expense (benefit) (336) 238 378
Amortization of right-of-use asset and interest on lease liabilities 4,064 3,724  
Change in the fair value of investments 330 1,064  
Interest income on debt securities (401) (295)  
Equity in income of affiliates (244) (329)  
Impairments of long-term investments 8,277 626  
Impairment of goodwill 11,941    
Return on investment from equity affiliates   329  
Changes in assets and liabilities, net of effect of acquisition:      
Accounts receivable (8,033) (8,513) (11,154)
Contract assets (564) (240)  
Prepayments and other current assets (515) (907) (5,140)
Other non-current assets 3,146 (128) (692)
Accounts payable 5,526 (734) 1,755
Advances from customers 1,371 878 335
Taxes payable (391) 155 (450)
Operating lease liabilities (4,212) (3,995)  
Deferred income 402 (102)  
Accrued expenses and other liabilities (1,934) 14,061 6,848
Net cash (used in) generated from operating activities (52,380) (20,000) 6,564
Cash flows from investing activities:      
Purchase of short-term investments (563,436) (504,563) (522,730)
Proceeds from sale and maturity of short-term investments 646,687 558,618  
Purchase of long-term investments (58,818) (48,843)  
Purchase of property and equipment (4,123) (12,211) (12,878)
Prepayment for a long-term investment (1,949)    
Withdrawal of long-term investments 2,113    
Deposit for land use right purchase (34,159)    
Withdrawal of deposit for land use right purchase 34,159    
Prepayment for land use rights purchase (171,592)    
Purchase of intangible assets   (263)  
Cash received from (paid for) an acquisition   (50,566) 556
Return of investment from equity affiliates 56 138  
Advance payment received for business disposal 7,000    
Net cash used in investing activities (144,062) (57,690) (535,052)
Cash flows from financing activities:      
Proceeds from the private placement, net of issuance costs paid   249,950  
Proceeds from the initial public offering and concurrent private placement, net of underwriter discounts and commissions and other offering costs paid     483,628
Proceeds from exercise of employees' share options 1,096 2,042 10
Payment of financing cost (2,111) (55)  
Deposits received for business disposal 1,000    
Net cash (used in) provided by financing activities (41,150) 251,937 533,638
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (918) 279 465
Net (decrease) increase in cash, cash equivalents and restricted cash (238,510) 174,526 5,615
Cash balance recorded in held-for-sale assets 1,488    
Cash, cash equivalents and restricted cash at beginning of year 285,824 111,298 105,683
Cash, cash equivalents and restricted cash at end of year 45,826 285,824 111,298
Supplemental disclosure of cash flow information:      
Income taxes paid 55 966 742
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities 4,212 3,995  
Right-of-use assets obtained in exchange for operating lease obligations 198 4,300  
Non-cash financing and investing activities:      
Accretion to redemption value of convertible redeemable preferred shares 0 0 193,466
Payables for property and equipment 227 373 2,293
Consideration payable for the acquisition   4,603 3,150
Proceeds receivable from exercise of employees' share options 90 329 612
Deposits utilized for employees' share option exercises 13   (339)
Payables for long-term investment   5,490  
Payables for deferred financing cost   $ 2,234  
Payables for treasury shares, at cost 680    
Class A Ordinary Shares      
Cash flows from financing activities:      
Repurchase of Class A ordinary shares $ (41,135)    
Series C+ Preferred Stock      
Cash flows from financing activities:      
Proceeds from issuance of Series C+ convertible redeemable preferred shares, net of issuance costs of nil     $ 50,000
[1] The allowance for current expected credit losses reflects the Company’s estimated probable incurred losses upon adoption of ASC 326. See Note 2(j) for the Company’s CECL policy.