XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss before noncontrolling interest $ (74,917) $ (73,799)
Adjustments to reconcile net loss before noncontrolling interest to net cash flows used in operating activities:    
Depreciation and amortization 3,065 2,372
Equity-based compensation 12,957 15,489
Gain on marketable securities, net (1,942) (3,802)
Gain on lease disposition 143 0
Loss on disposal of equipment 464 131
Changes in operating assets and liabilities    
Interest receivable 672 (1,373)
Prepaid and other assets 7,202 (6,162)
Accounts payable and accrued expenses (8,126) (5,838)
Income taxes payable (526) 43
Net cash flows used in operating activities (61,008) (72,939)
Cash flows from investing activities    
Purchases of marketable securities (98,138) (82,880)
Sales and maturities of marketable securities 149,239 171,445
Purchase of equipment and facility expansion (4,247) (1,596)
Net cash flows provided by investing activities 46,854 86,969
Cash flows from financing activities    
Proceeds from sales of Class A ordinary shares, net of offering costs 0 139,855
Payments on finance leases (26) (26)
Net cash flows (used in) provided by financing activities (26) 139,829
Net change in cash and cash equivalents (14,180) 153,859
Cash, beginning of period 99,120 60,649
Cash, end of period 84,940 214,508
Supplemental disclosure of non-cash investing and financing activities:    
Right of use assets obtained in exchange for lease obligations 2,005 2,621
Exchange of Class B common stock 5,253 14,902
Exchange of Class B common stock 5,252 14,902
Impact of equity transactions and compensation on redeemable noncontrolling interest 7,756 16,708
Equipment and facility expansion included in accounts payable and accrued expenses $ 395 $ 780