v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating activities        
Net loss $ (125,767) $ 66,886 $ (185,962) $ (5,353)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation     448 446
Share-based compensation 12,418 12,041 23,367 24,424
Deferred income taxes     43,239 (5,590)
Reduction in the carrying amount of right-of-use assets     1,369 1,334
Loss on disposal of fixed assets     2 0
Changes in operating assets and liabilities:        
Accounts receivable     0 5,159
Prepaid and other assets     3,883 (5,434)
Accounts payable, accruals and other liabilities     (7,895) (19,102)
Deferred revenue     (7,198) (52,014)
Restructuring liability     30,330 0
Operating lease liabilities     (1,286) (962)
Net cash used in operating activities     (99,703) (57,092)
Investing activities        
Purchases of property and equipment     (128) (246)
Net cash used in investing activities     (128) (246)
Financing activities        
Proceeds from issuance of ordinary shares upon exercise of stock options     0 1,481
Net cash provided by (used in) financing activities     (122) 1,280
Net decrease in cash, cash equivalents and restricted cash     (99,953) (56,058)
Cash, cash equivalents and restricted cash, beginning of the year     472,248 621,042
Cash, cash equivalents and restricted cash, end of the period 372,295 564,984 372,295 564,984
Supplemental disclosures of cash flow information        
Cash paid for income taxes     939 1,576
Supplemental disclosures of non-cash investing and financing activities        
Acquisition of property and equipment included in accounts payable and accrued liabilities     7 86
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability     224 217
Cash and cash equivalents 371,435 564,124 371,435 564,124
Restricted cash, non-current 860 860 860 860
Total cash, cash equivalents and restricted cash, end of the period $ 372,295 $ 564,984 372,295 564,984
At-The-Market Offering        
Financing activities        
Proceeds from issuance of ordinary shares in at-the-market offering, net     $ (122) $ (201)