v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (73,238) $ (147,541)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 20,931 19,902
Depreciation and amortization expense 379 168
Amortization of debt issuance costs and discount 436 655
Amortization and interest accretion related to operating leases 56 0
Changes in operating assets and liabilities:    
Trade receivables, net (7,606) 0
Prepaid expenses and other current assets (9,456) (10,885)
Inventory (21,173) (854)
Accounts payable (1,543) (11,513)
Accrued liabilities (530) 2,291
Accrued interest, net of interest received on maturity of investments 2,853 (1,380)
Net cash used in operating activities (88,891) (149,157)
Cash flows from investing activities:    
Purchases of marketable securities (130,812) (84,197)
Sales and maturities of marketable securities 294,690 182,607
Acquisition of intangible asset 0 0
Purchases of property and equipment, net of disposals 0 (357)
Net cash provided by investing activities 163,878 98,053
Cash flows from financing activities:    
Net cash provided by financing activities 8,640 573,706
Net increase in cash, cash equivalents, and restricted cash 83,627 522,602
Cash, cash equivalents, and restricted cash at beginning of period 105,019 99,915
Cash, cash equivalents, and restricted cash at end of period 188,646 622,517
Supplemental disclosure of cash flow information:    
Intangible assets in accounts payable at the end of the period 0 5,000
Nonrelated Party    
Cash flows from financing activities:    
Proceeds from issuance or sale of equity 8,640 311,561
Related Party    
Cash flows from financing activities:    
Proceeds from issuance or sale of equity $ 0 $ 262,145