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) income $ (21,325) $ 6,386
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 33,178 6,688
Stock-based compensation expense 22,387 25,854
Change in fair value of trading securities 240 0
Deferred income taxes (5,437) (1,542)
Accretion of discounts on marketable investment securities (2,606) (3,422)
Other 219 83
Change in operating assets and liabilities:    
Accounts receivable (1,307) (7,620)
Prepaid expenses and other current assets (4,696) (294)
Inventory (231) (71)
Operating lease assets 664 678
Other assets (13) 143
Accounts payable 1,689 (1,650)
Operating lease liabilities (869) (432)
Accrued compensation (7,582) (7,706)
Other accrued and current liabilities 474 68
Net cash provided by operating activities 14,785 17,163
INVESTING ACTIVITIES    
Purchases of marketable investment securities (92,832) (113,194)
Proceeds from maturities of marketable investment securities 80,300 86,450
Purchases of debt securities classified as held-to-maturity (5,569) 0
Asset acquisition, net of cash and cash equivalents acquired (18,726) 0
Purchases of property and equipment (14,003) (14,381)
Proceeds from sale of property and equipment 21 7
Net cash used in investing activities (50,809) (41,118)
FINANCING ACTIVITIES    
Proceeds from exercise of common stock options 37 73
Payment of employees’ taxes on vested restricted stock units (3,104) (1,089)
Proceeds from contributions to the employee stock purchase plan 1,482 1,749
Repayment of principal portion of finance lease liabilities (57) (47)
Proceeds from lease incentives received 190 0
Proceeds from issuance of term debt 0 10,000
Net cash (used in) provided by financing activities (1,452) 10,686
NET CHANGE IN CASH AND CASH EQUIVALENTS (37,476) (13,269)
Beginning of period 119,709 98,841
End of period 82,233 85,572
DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Asset acquisition, liability for contingent consideration 2,500 0
Accrued purchases of property and equipment 6,822 2,148
Operating lease assets obtained in exchange for lease obligations 4,687 0
Decrease in operating lease assets with corresponding change in lease liabilities (104) (7)
Finance lease assets obtained in exchange for lease obligations 119 166
Property and equipment acquired with tenant improvement allowance $ 7,224 $ 0