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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (29,836) $ (8,431)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 2 65
Accretion of investments (2,189) (2,745)
Stock-based compensation 10,366 9,605
Amortization of intangible asset 1,457 1,458
Changes in assets and liabilities:    
Accounts receivable, net 3,149 9,872
Inventory 19,958 25,529
Prepaid and other current assets (5,239) (19,934)
Other long-term assets 78 73
Interest receivable 420 (1)
Deferred revenue   (4,850)
Accounts payable and other current liabilities 5,997 (26,394)
Other long-term liabilities (16) 403
Net cash provided by (used in) operating activities 4,147 (15,350)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities of securities 105,300 133,000
Purchases of securities (80,826) (99,586)
Net cash provided by investing activities 24,474 33,414
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under employee stock purchase plan 57 122
Proceeds from exercise of stock options   10
Taxes paid related to stock-based awards (1,839) (1,524)
Net cash used in financing activities (1,782) (1,392)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 26,839 16,672
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 121,338 199,777
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 148,177 216,449
Cash paid during the year for:    
Income taxes (147) (669)
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right-of-use asset $ 856 $ 189