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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
OPERATING ACTIVITIES    
Net income (loss) before redeemable non-controlling interest $ 49,397 $ (222,138)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 16,280 27,774
Accretion of debt discount 993 1,063
Stock-based compensation 1,805 17,339
Non-cash operating lease expense 7,382 7,370
Provision for inventory obsolescence 5,158 10,332
Provision for bad debts 1,458 148
(Gain) loss on the disposition of businesses, property, equipment and other assets (126,251) 1,649
Gain on debt extinguishment (8,203) (21,518)
Provision (benefit) for deferred income taxes and reserve adjustments (1,154) 451
Loss on equity method investment, net of taxes 3,560 2,403
Asset impairment charges 0 143,733
Changes in operating accounts:    
Accounts receivable 18,288 2,594
Inventories (15,474) 5,972
Prepaid expenses and other current assets (6,422) 6,831
Accounts payable (4,844) (7,201)
Deferred revenue and customer deposits (809) 4,533
Accrued and other liabilities (2,645) (9,843)
All other operating activities (11,650) (8,601)
Net cash used in operating activities (73,131) (37,109)
INVESTING ACTIVITIES    
Purchases of property and equipment (7,995) (10,798)
Proceeds from sale of assets and businesses, net of cash sold 119,400 96
Acquisitions and other investments, net of cash acquired (3,400) (2,450)
Other investing activities 271 0
Net cash provided by (used in) investing activities 108,276 (13,152)
FINANCING ACTIVITIES    
Proceeds from borrowings 92,030 0
Debt issuance costs (3,425) (87,218)
Repayment of borrowings and long-term debt (169,987) 0
Stock repurchases (14,960) 0
Taxes paid related to net-share settlement of equity awards (830) (2,526)
Other financing activities (1,168) (1,003)
Net cash used in financing activities (98,340) (90,747)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,553 (530)
Net decrease in cash, cash equivalents and restricted cash (58,642) (141,538)
Cash, cash equivalents and restricted cash at the beginning of the year 172,881 333,111
Cash, cash equivalents and restricted cash at the end of the period 114,239 191,573
Balances per Condensed Consolidated Balance Sheets:    
Cash and cash equivalents 95,542 190,005
Restricted cash included in prepaid expenses and other current assets 126 122
Restricted cash included in other assets [1] 18,571 1,446
Total cash, cash equivalents and restricted cash 114,239 191,573
Supplemental cash flow information    
Lease assets obtained in exchange for new lease liabilities 3,155 1,955
Cash interest payments 715 766
Cash income tax payments, net 3,820 4,580
Transfer of equipment from inventory to property and equipment, net [2] 3,199 1,655
Exchange of assets for investment $ 1,016 $ 0
[1] The balance in restricted cash as of September 30, 2025 includes (1) $16.8 million of restricted cash as required by the indenture for the Convertible senior secured notes due 2030 and (2) guarantees in the form of a standby letter of credit as security for a long-term real estate lease. The balance in restricted cash as of September 30, 2024 primarily relates to guarantees in the form of a standby letter of credit as security for a long-term real estate lease. Refer to Note 6 and Note 12 for further information.
[2] Inventory is transferred to property and equipment at cost when we require additional machines for training or demonstration or for placement into on demand manufacturing services locations.