v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (42,903) $ (93,601) $ (80,535)
Adjustments to reconcile net loss to net cash provided by operating activities      
Depreciation and amortization expense 40,189 30,072 16,128
Stock-based compensation expense 103,540 92,634 76,753
Net change in unrealized interest on held to maturity securities (3,511) 4,577 (3,829)
Change in fair value of sales based earnout liability 4,000 6,049 1,183
Accretion of acquisition consideration payable 1,068 4,056 710
Inventory write-down 6,599 4,431 1,997
Other, net 0 0 (23)
Changes in assets and liabilities:      
Accounts receivable, net (6,831) (16,348) 19,368
Inventories (11,997) (14,344) (9,886)
Prepaid expenses and other assets (4,553) (2,516) (6,116)
Accounts payable 4,302 6,122 (5,706)
Accrued expenses and other liabilities (2,749) 2,058 (1,988)
Net cash provided by operating activities 87,154 23,190 8,056
Cash flows from investing activities      
Purchase of held to maturity securities (1,368,793) (807,836) (1,046,407)
Proceeds from maturity of held to maturity securities 993,383 909,265 1,060,996
Acquisition of business 0 0 (39,000)
Purchase of property and equipment (52,028) (36,217) (8,945)
Cash paid for intangibles (428) (453) (3,304)
Net cash (used in) provided by investing activities (427,866) 64,759 (36,660)
Cash flows from financing activities      
Tax withholding paid on behalf of employees for net share settlement (54,602) (52,633) (41,346)
Proceeds from issuance of common stock 468,683 50,509 46,025
Payments for offering costs (17,069) (1,730) (1,210)
Payment of contingent consideration towards earnouts (12,903) (12,254) 0
Payment of deferred acquisition consideration payable (32,744) (75,203) 0
Net cash provided by (used in) financing activities 351,365 (91,311) 3,469
Net increase (decrease) in cash and cash equivalents 10,653 (3,362) (25,135)
Cash and cash equivalents      
Beginning of period 6,106 9,468 34,603
End of period 16,759 6,106 9,468
Supplemental disclosure of cash flow information      
Income taxes paid, net of refunds 402 88 199
Supplemental disclosure of noncash flow information      
Unpaid property and equipment 3,080 8,949 866
Right-of-use assets acquired under operating leases 405 1,147 0
Settlement of pre-existing arrangement in connection with acquisition 0 0 9,974
Acquisition consideration payable at acquisition date 0 0 107,947
Fair value of sales based earnout liability $ 0 $ 0 $ 102,278