v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (11,799) $ (8,544)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization expense 5,512 2,701
Stock-based compensation expense 21,645 19,354
Amortization of premiums and discounts on marketable securities (172) (365)
Amortization of debt issuance costs 108 108
Non-cash lease costs 2,702 3,480
Other 9 15
Changes in operating assets and liabilities:    
Inventory 542 (1,800)
Accounts receivable (2,915) 10,360
Other current assets 712 421
Accounts payable (543) (209)
Accrued expenses (2,698) (4,393)
Operating lease liabilities 914 4,511
Other non-current assets and liabilities, net 797 98
Net cash provided by operating activities 14,814 25,737
Investing activities:    
Purchases of investments (28,975) (35,700)
Sales and maturities of investments 27,150 23,307
Expenditures for property and equipment (22,345) (30,778)
Net cash used in investing activities (24,170) (43,171)
Financing activities:    
Net proceeds from common stock issuance 11,197 11,460
Payments on employee’s behalf for taxes related to vesting of restricted stock unit awards (6,343) (5,038)
Other (15) 0
Net cash provided by financing activities 4,839 6,422
Net decrease in cash, cash equivalents, and restricted cash (4,517) (11,012)
Cash, cash equivalents, and restricted cash at beginning of period 85,049 86,866
Cash, cash equivalents, and restricted cash at end of period 80,532 75,854
Supplemental disclosure of cash flow information:    
Right-of-use asset and lease liability recognized 0 3,037
Additions to property and equipment included in accounts payable 1,439 13,213
Restricted stock held for employee tax remittance included in accounts payable 38 0
Reconciliation to amounts within the condensed consolidated balance sheets:    
Cash and cash equivalents 80,532 50,291
Restricted cash 0 25,563
Total cash, cash equivalents, and restricted cash at end of period $ 80,532 $ 75,854