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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss before noncontrolling interest $ (35,333) $ (36,909)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:    
Depreciation and amortization 1,102 832
Equity-based compensation 7,679 13,020
Gain on marketable securities, net (2,313) (492)
Loss on disposal of equipment 28 3
Changes in operating assets and liabilities:    
Interest receivable (529) (5,476)
Prepaid and other assets 564 3,483
Accounts payable and accrued expenses (5,942) (601)
Income taxes payable 98 148
Net cash flows used in operating activities (34,646) (25,992)
Cash flows used in investing activities    
Purchases of marketable securities (55,415) (198,038)
Sales and maturities of marketable securities 114,774 6,412
Purchase of equipment and facility expansion (960) (986)
Net cash flows provided by (used in) investing activities 58,399 (192,612)
Cash flows from financing activities    
Payments on finance leases (13) (13)
Net cash flows used in financing activities (13) (13)
Net change in cash and cash equivalents 23,740 (218,617)
Cash, beginning of period 60,649 490,252
Cash, end of period 84,389 271,635
Supplemental disclosure of non-cash investing and financing activities:    
Right of use assets obtained in exchange for lease obligations 1,674 714
Exchange of Class B ordinary shares 2,289 0
Impact of equity transactions and compensation on redeemable noncontrolling interest (7,507) 1,352
Change in redemption value of noncontrolling interest 0 509,526
Equipment and facility expansion included in accounts payable and accrued expenses $ (305) $ 744