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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss before noncontrolling interest $ (73,799) $ (71,732)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:    
Depreciation and amortization 2,372 1,702
Equity-based compensation 15,489 24,222
Gain on marketable securities, net (3,802) (1,981)
Loss on disposal of equipment 131 3
Changes in operating assets and liabilities:    
Interest receivable (1,373) (8,090)
Prepaid and other assets (6,162) 2,256
Accounts payable and accrued expenses (5,838) 12,430
Income taxes payable 43 282
Net cash flows used in operating activities (72,939) (40,908)
Cash flows from investing activities    
Purchases of marketable securities (82,880) (261,847)
Sales and maturities of marketable securities 171,445 60,768
Purchase of equipment and facility expansion (1,596) (4,686)
Net cash flows provided by (used in) investing activities 86,969 (205,765)
Cash flows from financing activities    
Proceeds from sales of Class A ordinary shares, net of offering costs 139,855 0
Payments on finance leases (26) (26)
Net cash flows provided by (used in) financing activities 139,829 (26)
Net change in cash and cash equivalents 153,859 (246,699)
Cash, beginning of period 60,649 490,252
Cash, end of period 214,508 243,553
Supplemental disclosure of non-cash investing and financing activities:    
Right of use assets obtained in exchange for lease obligations 2,621 714
Exchange of Class B ordinary shares 14,902 0
Impact of equity transactions and compensation on redeemable noncontrolling interest 16,708 380
Change in redemption value of noncontrolling interest 0 230,209
Equipment and facility expansion included in accounts payable and accrued expenses $ 780 $ 689