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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (32,319) $ (50,315)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 15,014 9,865
Stock-based compensation expense 53,980 18,430
Loss (income) from equity method investments (24,507) (3,473)
Other noncash items (1,511) 4,261
Changes in operating assets and liabilities (105,690) (59,617)
Net cash provided by (used in) operating activities (95,033) (80,849)
Cash flows from investing activities:    
Purchase of property and equipment, net (11,898) (11,937)
Purchase of intangible assets (3,535) (12,415)
Investment in loans receivable and other (8,778) (4,510)
Investments in marketable securities (107,020) (423,183)
Proceeds from maturities and sales of marketable securities and other 133,894 15,127
Net cash paid in business combination (44,479) 0
Proceeds from sale of business and property, net of cash divested 0 500
Net cash provided by (used in) investing activities (41,816) (436,418)
Cash flows from financing activities:    
Proceeds from equity issuances, net 11,462 30,676
Common stock repurchase (200,000) 0
Repayments of long-term debt (3,750) (3,750)
Net cash provided by (used in) financing activities (192,288) 26,926
Net increase (decrease) in cash, cash equivalents and restricted cash and equivalents (329,137) (490,341)
Cash, cash equivalents and restricted cash and equivalents, beginning of period 507,680 1,054,820
Cash, cash equivalents and restricted cash and equivalents, end of period $ 178,543 $ 564,479