v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net income (loss) $ 518,646 $ (147,550)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 8,340 12,147
Non-cash stock-based compensation 10,285 11,556
Provision for excess and obsolete inventory 276 8,807
Impairment of long-lived assets 0 1,669
Other items, net 16,550 (4,449)
Changes in operating assets and liabilities:    
Inventory 2,375 16,819
Accounts receivable, prepaid expenses, and other assets 73,867 296,054
Accounts payable, accrued expenses, and other liabilities (211,846) (272,461)
Deferred revenue (603,995) (6,147)
Net cash used in operating activities (185,502) (83,555)
Investing Activities:    
Capital expenditures (1,220) (6,878)
Purchases of available-for-sale marketable securities (114,724) 0
Proceeds from maturities of available-for-sale marketable securities 43,000 0
Internal-use software (375) (372)
Net cash used in investing activities (73,319) (7,250)
Financing Activities:    
Net proceeds from sales of common stock 0 6,862
Net proceeds from the exercise of stock-based awards (4,860) (616)
Finance lease payments (2,201) (360)
Net cash provided by (used in) financing activities (7,061) 5,886
Effect of exchange rate on cash, cash equivalents, and restricted cash (930) (2,955)
Net decrease in cash, cash equivalents, and restricted cash (266,812) (87,874)
Cash, cash equivalents, and restricted cash at beginning of period 545,292 583,810
Cash, cash equivalents, and restricted cash at end of period 278,480 495,936
Supplemental disclosure of non-cash activities:    
Capital expenditures included in accounts payable and accrued expenses 0 1,208
Internal-use software included in accounts payable and accrued expenses 0 250
Supplemental disclosure of cash flow information:    
Cash interest payments, net of amounts capitalized 2,799 1,206
Cash paid for income taxes, net of refunds $ 1,499 $ (71)