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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income (loss) $ (150,045) $ (244,943)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 18,324 39,847
Stock-based compensation expense 56,639 13,666
Non-cash operating lease expense 4,323 4,224
Amortization of debt discounts 12,163 5,148
Changes in fair value of financial instruments 52,284 (6,068)
Loss on debt extinguishment 17,930 0
Other 788 3,947
Changes in operating assets and liabilities:    
Accounts receivable 61,232 (15,009)
Supplies (11,144) 4,211
Prepaid expenses and other current assets (4,805) (2,176)
Other assets (326) (158)
Accounts payable (1,196) 5,054
Accrued expenses and other liabilities (17,792) (14,021)
Net cash provided by (used in) operating activities 38,375 (206,278)
Cash flows from investing activities    
Maturities of marketable securities 0 61,376
Purchases of property and equipment (11,170) (6,154)
Net cash provided by (used in) investing activities (11,170) 55,222
Cash flows from financing activities    
Payments made on finance lease obligations (67) (136)
Proceeds from exercise of stock options 3,775 1,258
Payment of taxes withheld from net settlement of exercised options and vested RSUs (18,218) 0
Payment of deferred offering costs (7,710) (1,034)
Proceeds from the 2023 term loan, net of issuance costs 0 199,978
Purchase of treasury stock (22) 0
Issuance of the 2025 Convertible Notes, net of issuance costs 27,865 0
Issuance of the 2025 Warrants 10,270 0
Payments of 2023 term loan amendment fee (4,000) 0
Proceeds from initial public offering, net of underwriting discounts and commissions 528,459 0
Net cash provided by financing activities 661,590 200,066
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 159 (3)
Net increase in cash, cash equivalents, and restricted cash 688,954 49,007
Cash, cash equivalents, and restricted cash at beginning of period 68,028 60,007
Cash, cash equivalents, and restricted cash at end of period 756,982 109,014
Series E Preferred Stock    
Cash flows from financing activities    
Proceeds from issuance of preferred stock, net of issuance costs 87,637 0
Series F Preferred Stock    
Cash flows from financing activities    
Proceeds from issuance of preferred stock, net of issuance costs $ 33,601 $ 0