v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,714 $ (40,946)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation expense 23,452 20,267
Amortization of intangible assets 1,125 3,542
Non-cash interest expense 941 846
Net accretion on marketable securities (405) (1,554)
Other non-cash items, net 491 348
Changes in operating assets and liabilities:    
Accounts receivable, net (8,934) (33,621)
Inventory (15,756) (1,433)
Prepaid expenses and other current assets (14,274) 1,018
Accounts payable (5,923) 863
Accrued liabilities 30,723 21,018
Operating lease liabilities (276) (404)
Net cash provided by (used in) operating activities 14,878 (30,056)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (127,744) (89,262)
Proceeds from maturities and sales of marketable securities 101,346 129,121
Milestone payment for intangible asset 0 (10,000)
Purchases of property and equipment (158) (686)
Net cash provided by (used in) investing activities (26,556) 29,173
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon exercise of stock options 2,428 456
Proceeds from issuance of common stock pursuant to employee stock purchase plan 1,629 1,319
Payment of debt prepayment penalty (1,000) 0
Net cash provided by financing activities 3,057 1,775
Effect of exchange rate changes on cash (165) 204
Net increase (decrease) in cash, cash equivalents, and restricted cash (8,786) 1,096
Cash, cash equivalents, and restricted cash at beginning of period 43,215 71,952
Cash, cash equivalents, and restricted cash at end of period 34,429 73,048
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest expense paid in cash $ 6,830 $ 5,164