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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss before noncontrolling interest $ (163,335) $ (135,447) $ (148,135)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:      
Depreciation and amortization 5,432 3,853 3,036
Equity-based compensation 29,372 30,846 74,469
Gain on marketable securities, net (6,995) (6,018) 0
Gain on lease disposition (161) 0 0
Impairment charges 5,324 0 0
Loss on disposal of equipment 56 23 0
Changes in operating assets and liabilities      
Interest receivable (1,072) (1,375) 0
Prepaid and other assets (5,955) 4,648 (7,231)
Accounts payable and accrued expenses 11,592 11,639 494
Income taxes payable (609) 1,762 278
Net cash flows used in operating activities (126,351) (90,069) (77,089)
Cash flows from investing activities      
Net cash from SCS 0 0 108
Purchases of marketable securities (324,023) (471,604) 0
Sales and maturities of marketable securities 373,946 175,818 0
Purchase of equipment and facility expansion (29,509) (34,197) (1,846)
Net cash flows provided by (used in) investing activities 20,414 (329,983) (1,738)
Cash flows from financing activities      
Proceeds from sales of Class A ordinary shares, net of offering costs 144,322 0 0
Proceeds from Business Combination, including PIPE financing, net of associated costs of $37,856 0 0 542,503
Payments on finance leases (54) (52) (32)
Borrowings under related party notes payable 0 0 35,000
Exercise of stock options 140 0 0
Repurchase of Class A ordinary shares Amount 0 (9,499) 0
Repayment of related party notes payable 0 0 (35,000)
Net cash contribution 0 0 6,050
Net cash flows provided by (used in) financing activities 144,408 (9,551) 548,521
Net change in cash and cash equivalents 38,471 (429,603) 469,694
Cash, beginning of period 60,649 490,252 20,558
Cash, end of period 99,120 60,649 490,252
Supplemental cash flow information:      
Cash paid during the period for income taxes, net of refunds 73 2,857 1,950
Supplemental disclosure of non-cash investing and financing activities:      
Right of use assets obtained in exchange for lease obligations 2,621 2,594 1,491
Exchange of Class B ordinary shares 15,442 9,500 0
Impact of equity transactions and compensation on redeemable noncontrolling interest 19,448 2,577 5,828
Change in redemption value of noncontrolling interest 0 79 0
Equipment and facility expansion included in accounts payable and accrued expenses $ 347 $ 218 $ 51