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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income (loss) $ 10,362 $ (3,182) $ (16,709)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:      
Depreciation and amortization expense 5,504 4,632 3,981
Stock-based compensation expense 36,495 32,325 37,183
Amortization of premiums and discounts on marketable securities (657) (824) 107
Amortization of debt issuance costs 215 215 90
Non-cash lease costs 6,651 6,070 4,222
Other 43 39 22
Changes in operating assets and liabilities:      
Inventory (4,286) 2,899 (2,605)
Accounts receivable (3,019) (11,817) (9,102)
Other current assets (434) (1,733) (557)
Accounts payable (287) 3,049 1,437
Accrued expenses (149) 1,025 2,145
Operating lease liabilities 7,520 2,513 (2,527)
Other non-current assets and liabilities, net 205 100 0
Net cash provided by operating activities 58,163 35,311 17,687
Investing activities:      
Purchases of investments (68,211) (55,225) (69,554)
Sales and maturities of investments 53,151 79,608 40,944
Expenditures for property and equipment (63,974) (20,013) (7,596)
Purchases of intangible assets 0 (7,500) 0
Net cash used in investing activities (79,034) (3,130) (36,206)
Financing activities:      
Net proceeds from common stock issuance 24,516 6,000 3,652
Debt issuance costs 0 0 (1,076)
Payments on employee's behalf for taxes related to vesting of restricted stock unit awards (5,462) (2,341) (1,492)
Other 0 (41) (39)
Net cash provided by financing activities 19,054 3,618 1,045
Net (decrease) increase in cash, cash equivalents, and restricted cash (1,817) 35,799 (17,474)
Cash, cash equivalents, and restricted cash at beginning of period 86,866 51,067 68,541
Cash, cash equivalents, and restricted cash at end of period 85,049 86,866 51,067
Supplemental disclosure of cash flow information:      
Right-of-use assets and operating lease liabilities recognized 3,287 37,960 137
Property and equipment obtained in exchange for financing lease liabilities 686 0 0
Additions to property and equipment and intangible assets included in accounts payable 11,898 10,152 7,824
Interest paid 399 383 109
Taxes paid 628 1,166 0
Reconciliation of amounts within the consolidated balance sheets:      
Cash and cash equivalents 74,520 69,088 51,067
Restricted cash 10,529 17,778 0
Total cash, cash equivalents, and restricted cash at end of period $ 85,049 $ 86,866 $ 51,067