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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss before noncontrolling interest $ (37,952) $ (35,333)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:    
Depreciation and amortization 1,600 1,102
Equity-based compensation 6,416 7,679
Gain on marketable securities, net (1,069) (2,313)
Loss on disposal of equipment 300 28
Changes in operating assets and liabilities    
Interest receivable 695 (529)
Prepaid and other assets 5,729 564
Accounts payable and accrued expenses (5,902) (5,942)
Income taxes payable 591 98
Net cash flows used in operating activities (29,592) (34,646)
Cash flows from investing activities    
Purchases of marketable securities (55,449) (55,415)
Sales and maturities of marketable securities 84,873 114,774
Purchase of equipment and facility expansion (1,135) (960)
Net cash flows provided by investing activities 28,289 58,399
Cash flows from financing activities    
Payments on finance leases (12) (13)
Net cash flows used in financing activities (12) (13)
Net change in cash and cash equivalents (1,315) 23,740
Cash, beginning of period 99,120 60,649
Cash, end of period 97,805 84,389
Supplemental disclosure of non-cash investing and financing activities:    
Right of use assets obtained in exchange for lease obligations 322 1,674
Exchange of Class B ordinary shares 2,418 2,289
Impact of equity transactions and compensation on redeemable noncontrolling interest 4,426 7,507
Equipment and facility expansion included in accounts payable and accrued expenses $ 1,653 $ 305