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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (1,324,249) $ (1,543,760)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 135,021 105,201
Amortization of insurance premium 17,314 21,128
Non-cash operating lease cost 15,136 12,278
Stock-based compensation 120,709 125,195
Inventory and firm purchase commitments write-downs 277,541 503,679
Change in fair value of common stock warrant liability (34,593) (1,331)
Change in fair value of equity securities of a related party 29,323 0
Change in fair value of derivative liability associated with Series A redeemable convertible preferred stock (related party) (103,000) 0
Net accretion of investment discounts/premiums (44,308) (39,162)
Other non-cash items 4,944 11,458
Changes in operating assets and liabilities:    
Accounts receivable (including $(42,282) and $0 from a related party for the six months ended June 30, 2024 and 2023, respectively) (49,612) (978)
Inventory (83,410) (447,962)
Prepaid expenses (19,269) (31,035)
Other current assets (22,310) 18,488
Other noncurrent assets (23,392) (109,758)
Accounts payable 3,181 (95,999)
Accrued compensation 44,880 5,679
Other current liabilities (39,360) (55,092)
Other long-term liabilities 71,722 20,349
Net cash used in operating activities (1,023,732) (1,501,622)
Cash flows from investing activities:    
Purchases of property, plant and equipment (including $(34,068) and $(40,918) from a related party for the six months ended June 30, 2024 and 2023, respectively) (432,512) (445,485)
Purchases of investments (1,854,127) (2,147,253)
Proceeds from maturities of investments 2,287,894 1,982,489
Proceeds from sale of investments 5,000 148,388
Other investing activities 0 (4,827)
Net cash provided by (used in) investing activities 6,255 (466,688)
Cash flows from financing activities:    
Proceeds from issuance of Series A redeemable convertible preferred stock to a related party 1,000,000 0
Payments of issuance costs for Series A redeemable convertible preferred stock (2,343) 0
Payment for finance lease liabilities (1,929) (3,079)
Proceeds from borrowings from a related party 0 4,266
Repayment of borrowings from a related party (4,266) 0
Proceeds from exercise of stock options 2,311 5,107
Proceeds from employee stock purchase plan 11,104 15,089
Tax withholding payments for net settlement of employee awards (5,312) (10,378)
Net cash provided by financing activities 999,565 3,007,870
Net (decrease) increase in cash, cash equivalents, and restricted cash (17,912) 1,039,560
Beginning cash, cash equivalents, and restricted cash 1,371,507 1,737,320
Ending cash, cash equivalents, and restricted cash 1,353,595 2,776,880
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 11,587 11,307
Cash paid for taxes 42 23
Supplemental disclosure of non-cash investing and financing activity:    
Increases (decreases) in purchases of property, plant and equipment included in accounts payable and other current liabilities (14,310) 13,689
Government grant (related party) reflected in property, plant and equipment (32,640) (50,415)
Property, plant and equipment and right-of-use assets obtained through leases 7,392 21,567
Underwriting Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 1,184,224
2023 Subscription Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 1,812,641
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 common stock warrant liability $ (34,593) $ (1,331)