v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (46,106) $ (64,116)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing 1,236 1,091
Depreciation and amortization 3,689 4,336
Stock-based compensation 42,731 47,000
Foreign currency remeasurement (gain) loss (1,245) 9,391
Other 3,969 6,520
Changes in operating assets and liabilities:    
Accounts receivable 2,838 (447)
Inventories (30,865) (26,901)
Prepaid expenses and other current assets (8,357) 13,959
Accounts payable, accrued expenses, and other current liabilities 14,007 2,641
Other non-current assets and liabilities (665) (478)
Net cash used in operating activities (18,768) (7,004)
Investing activities    
Sale and redemption of marketable securities 17,156 62,335
Purchases of marketable securities (53,180) (73,866)
Capital expenditures (2,615) (2,909)
Net cash used in investing activities (38,639) (14,440)
Financing activities    
Payment of finance leases (23) (78)
Withholding taxes paid on vested restricted stock units (12,222) (18,405)
Proceeds from stock options exercised, net 145 4,317
Net cash used in financing activities (12,100) (14,166)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 14,806 (2,110)
Net decrease in cash, cash equivalents, and restricted cash at the end of the period (54,701) (37,720)
Cash, cash equivalents, and restricted cash at the beginning of period 216,716 250,077
Cash, cash equivalents, and restricted cash at the end of period 162,015 212,357
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 21,794 23,790
Cash paid for taxes 731 1,126
Supplemental disclosure of non-cash investing and financing activities    
Tenant improvements paid through lease incentives 195 120
Capital expenditures unpaid at the end of period 174 90
Cashless exercise of warrants $ 71 $ 0