v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ (92,258,000) $ (36,696,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 14,195,000 11,751,000
Stock-based compensation expense 32,101,000 35,116,000
Loss (income) from equity method investments (18,084,000) (15,639,000)
Distributions of earnings from equity method investments 0 3,340,000
Adjustments on sale of assets, net (14,000,000) 3,784,000
Other noncash items (3,107,000) (837,000)
Changes in operating assets and liabilities 14,081,000 (67,312,000)
Net cash provided by (used in) operating activities (67,072,000) (66,493,000)
Cash flows from investing activities:    
Purchase of property and equipment (7,099,000) (6,451,000)
Purchase of intangible assets (9,717,000) (17,893,000)
Investment in loans receivable and other (1,000,000) (9,742,000)
Investments in marketable securities (60,154,000) (12,006,000)
Proceeds from maturities of marketable securities and other 125,339,000 115,747,000
Net cash provided by (used in) investing activities 47,369,000 69,655,000
Cash flows from financing activities:    
Proceeds from (payments for) equity issuances, net (2,741,000) 1,345,000
Repayments of long-term debt 0 (2,500,000)
Net cash provided by (used in) financing activities (2,741,000) (1,155,000)
Net increase (decrease) in cash, cash equivalents and restricted cash and equivalents (22,444,000) 2,007,000
Cash, cash equivalents and restricted cash and equivalents, beginning of period 193,860,000 114,329,000
Cash, cash equivalents and restricted cash and equivalents, end of period $ 171,416,000 $ 116,336,000