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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net loss $ (16,175) $ (22,631)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization expense 3,483 2,942
Stock-based compensation expense 25,416 29,443
Amortization of premiums and discounts on marketable securities (788) 305
Amortization of debt issuance costs 161 36
Non-cash lease costs 4,291 3,120
Other 18 21
Changes in operating assets and liabilities:    
Inventory 3,365 (3,348)
Accounts receivable 6,810 3,141
Other current assets (627) (164)
Accounts payable 360 (37)
Accrued expenses (2,562) (97)
Operating lease liabilities 1,408 (2,019)
Other non-current assets and liabilities, net 65 0
Net cash provided by operating activities 25,225 10,712
Investing activities:    
Purchases of investments (36,254) (43,950)
Sales and maturities of investments 60,890 35,944
Expenditures for property and equipment (12,178) (6,471)
Purchases of intangible assets (7,500) 0
Net cash provided by (used in) investing activities 4,958 (14,477)
Financing activities:    
Net proceeds from common stock issuance 4,614 3,040
Debt issuance costs 0 (1,076)
Payments on employee’s behalf for taxes related to vesting of restricted stock unit awards (2,262) (1,485)
Other (41) (39)
Net cash provided by financing activities 2,311 440
Net increase (decrease) in cash, cash equivalents, and restricted cash 32,494 (3,325)
Cash, cash equivalents, and restricted cash at beginning of period 51,067 68,541
Cash, cash equivalents, and restricted cash at end of period 83,561 65,216
Supplemental disclosure of cash flow information:    
Right-of-use asset and lease liability recognized 36,022 137
Additions to property and equipment included in accounts payable 5,568 482
Reconciliation to amounts within the condensed consolidated balance sheets:    
Cash and cash equivalents 60,473 65,216
Restricted cash 23,088 0
Total cash, cash equivalents, and restricted cash at end of period $ 83,561 $ 65,216