v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (54,051) $ (102,981)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Change in fair value of equity investments (32,381) 8,516
Depreciation and amortization 2,964 3,120
Stock-based compensation 17,867 22,201
Noncash investment accretion (209) (1,676)
(Gain) loss on disposal of property and equipment (1) 20
Decrease (increase) in assets:    
Accounts receivable, net (includes related party amounts of $(4,900) and zero) 61,650 225,619
Unbilled and other receivables 1,619 (7,070)
Reduction in the carrying amount of right of use assets - operating leases 5,264 4,537
Prepaid expenses and other assets 2,550 (4,299)
(Decrease) increase in liabilities:    
Accounts payable (1,119) (1,737)
Accrued payroll, taxes, and benefits (7,657) (16,788)
Deferred revenue (includes related party amounts of $4,064 and $(3,736)) (41,805) (34,220)
Lease liabilities - operating leases (4,685) (3,516)
Other accrued liabilities 1,090 139
Net cash (used in) provided by operating activities (48,904) 91,865
Cash flows from investing activities:    
Purchases of property and equipment (2,869) (910)
Proceeds from disposition and sale of equity investments, net 66,976 0
Purchases of marketable securities (103,992) (166,062)
Proceeds from maturity of marketable securities 143,101 142,003
Net cash provided by (used in) investing activities 103,216 (24,969)
Cash flows from financing activities:    
Proceeds from issuances of common stock upon stock option exercises 1,248 2,456
Principal payments on finance leases (29) (29)
Net cash provided by financing activities 1,219 2,427
Net increase in cash and cash equivalents and restricted cash 55,531 69,323
Cash and cash equivalents and restricted cash, beginning of period 237,385 162,657
Cash and cash equivalents and restricted cash, end of period 292,916 231,980
Supplemental disclosure of cash flow and noncash information    
Cash paid for income taxes 765 365
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment in accounts payable 27 34
Purchases of property and equipment in accrued liabilities 162 0
Acquisition of right of use assets in exchange for lease liabilities - operating leases $ 3,439 $ 0