v3.26.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (223) $ (208)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 6
Reduction in the carrying amount of right-of-use assets 7 7
Stock-based compensation 46 34
Change in fair value of derivative liabilities 1 9
Accretion of discount on investments (1) (5)
Other operating activities (9) 0
Changes in operating assets and liabilities:    
Other current and non-current assets (2) (1)
Operating lease liabilities (7) (7)
Other current and non-current liabilities 23 23
Net cash used in operating activities (159) (142)
Cash flows from investing activities    
Purchases of property and equipment (25) (8)
Purchases of investments (94) (288)
Maturities and sales of investments 328 315
Net cash provided by investing activities 209 19
Cash flows from financing activities    
Proceeds from issuance of common stock 21 85
Payments for taxes on net settlement of equity incentive awards (17) (1)
Other financing activities 0 (2)
Net cash provided by financing activities 4 82
Net increase (decrease) in cash, cash equivalents, and restricted cash 54 (41)
Cash, cash equivalents, and restricted cash at beginning of the period 235 227
Cash, cash equivalents, and restricted cash at end of the period $ 289 $ 186