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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ (202,465) $ (154,311)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 21,625 17,969
Stock-based compensation expense 39,599 48,375
Loss (income) from equity method investments (31,217) (17,686)
Distributions of earnings from equity method investments 0 3,340
Adjustments on sale of assets, net (14,000) 3,784
Other noncash items (5,571) (491)
Changes in operating assets and liabilities: 106,803 24,824
Net cash provided by (used in) operating activities (85,226) (74,196)
Cash flows from investing activities:    
Purchase of property and equipment (10,274) (9,985)
Purchase of intangible assets (23,076) (18,877)
Investment in loans receivable and other (1,000) (9,742)
Investments in marketable securities (60,154) (12,006)
Proceeds from maturities of marketable securities and other 160,531 166,828
Net cash provided by (used in) investing activities 66,027 116,218
Cash flows from financing activities:    
Proceeds from (payments for) equity issuances, net (2,977) 1,189
Repayments of long-term debt 0 (3,750)
Net cash provided by (used in) financing activities (2,977) (2,561)
Net increase (decrease) in cash, cash equivalents and restricted cash and equivalents (22,176) 39,461
Cash, cash equivalents and restricted cash and equivalents, beginning of period 193,860 114,329
Cash, cash equivalents and restricted cash and equivalents, end of period $ 171,684 $ 153,790