v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net loss $ (92,225) $ (66,423)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 27,374 30,349
Depreciation expense 446 444
Amortization of discounts for credit facility 512  
Amortization of discounts for convertible notes 79 76
Accretion of discount to development liability   6,066
Changes in operating assets and liabilities:    
Accounts receivable 29,680 (61,415)
Inventory 13,997 (14,921)
Prepaid assets (18,726) (4,338)
Other current assets (1,307) 10,697
Other assets 198 98
Right-of-use assets and lease liabilities 7 (116)
Accounts payable 16,711 (10,730)
Accrued expenses (30,156) (26,330)
Deferred revenue   3,560
Net cash used in operating activities (53,410) (132,983)
Investing Activities    
Purchase of property and equipment (8) (293)
Net cash used in investing activities (8) (293)
Financing Activities    
Proceeds from settlement of capped call   98,763
Proceeds from exercise of stock options 281 9,477
Payments of employee tax withholding related to equity-based compensation (7) (28)
Net cash provided by financing activities 274 108,212
Effect of exchange rate changes on cash, cash equivalents and restricted cash 359 (209)
Net decrease in cash, cash equivalents and restricted cash (52,785) (25,273)
Cash, cash equivalents and restricted cash at beginning of period 412,612 352,299
Cash, cash equivalents and restricted cash at end of period 359,827 327,026
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 358,393 325,923
Restricted cash 1,434 1,103
Total cash, cash equivalents, and restricted cash 359,827 327,026
Supplemental Disclosure of Financing Activities    
Cash paid for interest 11,092 1,643
Cash paid for income taxes $ 141  
Proceeds from income tax refunds net of income taxes paid   $ 257