v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net loss $ (182,956,000) $ (73,529,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 8,678,000 8,151,000
Amortization of debt issuance costs 970,000 1,085,000
Provision for expected credit losses 3,577,000 3,723,000
Operating lease and other impairment charges 6,697,000 2,000,000
Accretion (amortization) of discount or premium on short-term investments (1,780,000) 348,000
Loss from equity method investments 6,917,000 0
Stock-based compensation expense 51,130,000 46,936,000
Loss on extinguishment of debt 0 1,268,000
Acquired in-process research and development expenses 75,217,000 0
Other 424,000 335,000
Changes in operating assets and liabilities:    
Accounts receivable, net (13,516,000) 2,862,000
Inventories 12,058,000 (5,157,000)
Prepaid and other current assets (2,348,000) (4,782,000)
Other long-term assets 3,524,000 93,000
Accounts payable and accrued expenses 5,739,000 241,000
Employee-related liabilities (12,649,000) (462,000)
Deferred revenue (2,710,000) (1,261,000)
Operating leases and other current liabilities 8,403,000 3,967,000
Other long-term liabilities 4,851,000 911,000
Net cash used in operating activities (27,774,000) (13,271,000)
Investing Activities    
Purchases of short-term investments (26,496,000) (177,724,000)
Proceeds from maturities and redemptions of short-term investments 146,447,000 180,051,000
Purchases of property and equipment (9,171,000) (10,923,000)
Acquisition of in-process research and development (43,464,000) 0
Net cash provided by (used in) investing activities 67,316,000 (8,596,000)
Financing Activities    
Proceeds from issuance of convertible senior notes due 2029, net of $9,400 debt issuance costs 0 306,850,000
Repurchase of $246,740 principal amount of convertible senior notes due 2025 0 (246,123,000)
Principal payments on convertible senior notes due 2025 (40,760,000) 0
Payment for capped call transactions related to convertible senior notes due 2029 0 (15,813,000)
Repurchase and retirement of common stock 0 (30,000,000)
Cash used to settle withholding taxes on vested restricted stock, net of proceeds from issuance of common stock under Company stock plans (3,641,000) (4,513,000)
Other financing activities 0 183,000
Net cash provided by (used in) financing activities (44,401,000) 10,584,000
Effect of foreign exchange rate changes on cash (263,000) 112,000
Net increase (decrease) in cash and cash equivalents (5,122,000) (11,171,000)
Cash and cash equivalents at beginning of period 69,234,000 58,868,000
Cash and cash equivalents at end of period 64,112,000 47,697,000
Supplemental disclosures of cash flow information    
Income taxes paid 4,892,000 1,183,000
Supplemental schedule of non-cash investing and financing activities    
Operating lease right-of-use assets obtained in exchange for operating lease obligations 0 3,783,000
Purchases of property and equipment included in accounts payable 1,073,000 1,505,000
Intangible costs in other long term-liabilities $ 13,300,000 $ 0