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 $ (195,058) $ (217,613)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 20,278 21,335
Operating lease costs 16,442 15,226
Gain on extinguishment of convertible notes (13,672) 0
Stock-based compensation 80,219 54,276
Unrealized losses on marketable equity securities 0 45,539
Impairment of non-marketable equity securities 5,000 0
Interest income received on marketable debt securities 7,677 0
Other (280) 2,782
Changes in operating assets and liabilities:    
Accounts receivable, net (20,425) (11,737)
Inventory, net (12,978) (5,035)
Prepaid expenses and other current assets, net (7,276) (8,661)
Other assets, net 1,085 (130)
Accounts payable and accrued liabilities (4,273) (15,025)
Operating lease liabilities (18,826) (17,696)
Deferred revenue 19,113 12,453
Net cash used in operating activities (122,974) (124,286)
INVESTING ACTIVITIES:    
Maturities of marketable debt securities 307,323 35,000
Purchases of non-marketable equity securities (5,000) 0
Purchases of property and equipment (10,108) (12,011)
Net cash provided by investing activities 292,215 22,989
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon exercise of stock options 2,325 2,577
Proceeds from issuances of common stock under employee stock purchase plan 7,680 7,212
Employee taxes paid related to net share settlement of restricted stock units (22,918) (4,784)
Repurchase of treasury stock (45,010) 0
Payment of debt issuance costs (12,289) 0
Proceeds from unwinding of convertible note hedges 5,030 0
Other (44) (181)
Net cash (used in) provided by financing activities (65,226) 4,824
Net effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 1,710 (1,975)
Net increase (decrease) in cash, cash equivalents and restricted cash 105,725 (98,448)
Cash, cash equivalents and restricted cash—Beginning of period 629,755 1,133,687
Cash, cash equivalents and restricted cash—End of period 735,480 1,035,239
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 629,143 933,694
Restricted cash 106,337 101,545
Total cash, cash equivalents and restricted cash $ 735,480 $ 1,035,239