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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss before noncontrolling interest $ (114,852) $ (113,723)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:    
Depreciation and amortization 3,858 2,707
Equity-based compensation 22,424 37,216
Gain on marketable securities, net (5,521) (3,675)
Impairment charges 5,324 0
Loss on disposal of equipment 186 21
Changes in operating assets and liabilities:    
Interest receivable (3,728) (714)
Prepaid and other assets (8,489) 5,094
Accounts payable and accrued expenses (114) 7,774
Income taxes payable (1,268) 615
Net cash flows used in operating activities (102,180) (64,685)
Cash flows from investing activities    
Purchases of marketable securities (277,291) (301,701)
Sales and maturities of marketable securities 286,625 100,187
Purchase of equipment and facility expansion (4,000) (32,625)
Net cash flows provided by (used in) investing activities 5,334 (234,139)
Cash flows from financing activities    
Proceeds from sales of Class A ordinary shares, net of offering costs 144,325 0
Payments on finance leases (40) (39)
Net cash flows provided by (used in) financing activities 144,285 (39)
Net change in cash and cash equivalents 47,439 (298,863)
Cash, beginning of period 60,649 490,252
Cash, end of period 108,088 191,389
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 15,357 64
Impact of equity transactions and compensation on redeemable noncontrolling interest 18,748 3,207
Change in redemption value of noncontrolling interest 0 79
Equipment and facility expansion included in accounts payable and accrued expenses $ 910 $ 1,386