v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (229,121) $ (243,581)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 37,805 24,852
Amortization of right-of-use assets and non-cash lease expense 4,114 3,967
Amortization of premiums and accretion of discounts on marketable securities (9,113) (15,679)
Stock-based compensation expense 66,894 67,112
Write-off of fixed assets 14,888 1,250
Other (279) 102
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets and other assets 3,108 (22,710)
Accounts payable, accrued liabilities and accrued compensation and benefits (6,860) 63,319
Operating lease liability (2,594) (2,533)
Other liabilities (1,431) 805
Net cash used in operating activities (122,589) (123,096)
Investing activities    
Purchases of property and equipment (14,143) (33,043)
Proceeds from maturities of marketable securities 537,564 893,843
Proceeds from sales of marketable securities   1,245
Purchases of marketable securities (384,132) (690,235)
Net cash provided by investing activities 139,289 171,810
Financing activities    
Proceeds from exercise of stock options and employee stock purchase plan 15,659 6,570
Proceeds from issuance of common stock 1,033  
Common stock issuance costs paid (227)  
Principal payment for finance lease (1,580) (1,420)
Net cash provided by financing activities 14,885 5,150
Net increase in cash, cash equivalents and restricted cash 31,585 53,864
Cash, cash equivalents and restricted cash at beginning of period 158,914 160,572
Cash, cash equivalents and restricted cash at end of period 190,499 214,436
Supplemental disclosure:    
Cash paid for interest 1,044 1,134
Purchases of property and equipment, not yet paid $ 7,051 $ 11,624