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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (2,828,420) $ (1,304,460) $ (2,579,761)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 233,531 186,583 62,907
Amortization of insurance premium 39,507 35,620 18,474
Non-cash operating lease cost 26,201 19,711 12,563
Stock-based compensation 257,283 423,500 516,757
Inventory and firm purchase commitments write-downs 906,069 569,479 48,884
Change in fair value of contingent forward contract liability 0 0 454,546
Net accretion of investment discounts/premiums (105,432) (20,695) 0
Change in fair value of equity securities (5,999) 0 0
Other non-cash items 34,205 10,353 289
Changes in operating assets and liabilities:      
Accounts receivable (32,509) (16,498) (2,888)
Inventory (658,010) (1,256,349) (175,091)
Prepaid expenses (45,641) (28,822) (66,980)
Other current assets 4,758 (43,591) (14,704)
Other noncurrent assets (121,790) (43,230) 5,889
Accounts payable (139,519) 180,469 4,354
Accrued compensation 29,172 30,958 16,167
Other current liabilities (71,680) 253,904 55,437
Other long-term liabilities 75,447 31,028 (4,712)
Net cash used in operating activities (2,489,753) (2,226,258) (1,058,133)
Cash flows from investing activities:      
Purchases of property, plant and equipment (910,644) (1,074,852) (421,220)
Proceeds from government grant 97,500 97,267 0
Purchases of investments (3,998,282) (3,854,129) 0
Proceeds from maturities of investments 3,720,890 1,149,714 0
Proceeds from sale of investments 148,388 0 505
Other investing activities (4,827) 323 22
Net cash used in investing activities (946,975) (3,681,677) (420,693)
Cash flows from financing activities:      
Proceed from issuance of convertible notes, net of issuance costs 0 0 2,002,437
Proceeds from short-term insurance financing note 0 0 41,935
Payment for short-term insurance financing note 0 (15,330) (27,887)
Payment for finance lease liabilities (5,425) (4,977) (3,088)
Proceeds from borrowings 62,911 29,818 0
Repayments for borrowings 0 (20,223) 0
Proceeds from failed sale-leaseback transaction 0 31,700 0
Proceeds from exercise of stock options 10,343 17,788 8,132
Proceeds from the exercise of public warrants 0 0 173,273
Proceeds from the reverse capitalization 0 0 4,439,153
Payment of transaction costs related to the reverse recapitalization 0 0 (38,865)
Proceeds from employee stock purchase plan 23,836 24,562 0
Treasury stock repurchase 0 0 (20,716)
Tax withholding payments for net settlement of employee awards (17,615) (218,789) (22,063)
Net cash provided by financing activities 3,070,915 1,347,235 7,136,428
Net decrease in cash, cash equivalents, and restricted cash (365,813) (4,560,700) 5,657,602
Beginning cash, cash equivalents, and restricted cash 1,737,320 6,298,020 640,418
Ending cash, cash equivalents, and restricted cash 1,371,507 1,737,320 6,298,020
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 18,182 23,199 627
Cash paid for taxes 37 480 0
Supplemental disclosure of non-cash investing and financing activity:      
Purchases of property, plant and equipment included in accounts payable and other current liabilities 35,849 42,728 101,057
Property, plant and equipment and right-of-use assets obtained through leases 32,477 157,894 93,771
Equity securities obtained through Strategic Technology Arrangement 73,193 0 0
Issuance of Series D convertible preferred stock upon exercise of preferred stock warrants 0 0 9,936
Issuance of Series E convertible preferred stock contingent forward contracts 0 0 2,167,332
Capital contribution upon forfeit of Series E awards 0 0 15,719
Issuance of Series E convertible preferred stock upon settlement of contingent forward contracts 0 0 2,621,877
Issuance of common stock upon conversion of preferred stock in connection with the reverse recapitalization 0 0 5,836,785
Convertible Debt      
Cash flows from financing activities:      
Payment for issuance costs 0 0 (15,883)
Line of Credit      
Cash flows from financing activities:      
Payment for issuance costs 0 (6,631) 0
Underwriting Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock 1,184,224 0 0
2023 Subscription Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock 1,812,641 0 0
At-the-Market Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock 0 594,317 0
2022 Subscription Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock 0 915,000 0
Change in fair value of preferred stock warrant liability      
Adjustments to reconcile net loss to net cash used in operating activities:      
Change in fair value of stock warrants liability 0 0 6,976
Change in fair value of common stock warrant liability      
Adjustments to reconcile net loss to net cash used in operating activities:      
Change in fair value of stock warrants liability (86,926) (1,254,218) 582,760
Series B      
Cash flows from financing activities:      
Repurchase of Series B convertible preferred stock 0 0 (3,000)
Series D      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred stock 0 0 3,000
Series E      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred stock $ 0 $ 0 $ 600,000