v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 607,522 $ 679,573
Restricted cash, current 100,000 100,000
Short-term investments 10,000 10,000
Accounts receivable (net of allowance for credit losses of $20 and $31 as of June 30, 2026 and December 31, 2025, respectively) 69,595 106,116
Notes receivable 3,395 12,169
Inventories, net 90,890 74,745
Prepayments and other current assets 32,635 36,683
Total current assets 914,037 1,019,286
Restricted cash, non-current 1,118 1,116
Property and equipment, net 46,431 47,389
Operating lease right-of-use assets 16,159 19,152
Land use rights, net 2,883 2,853
Intangible assets, net 85,774 76,144
Deferred tax assets 4,848 3,390
Other non-current assets 3,543 3,054
Total assets 1,074,793 1,172,384
Current liabilities    
Accounts payable 136,692 141,608
Current operating lease liabilities 5,025 6,344
Short-term debt 238,104 204,530
Other current liabilities 48,763 63,684
Total current liabilities 428,584 416,166
Deferred income 27,500 27,333
Non-current operating lease liabilities 11,447 13,385
Other non-current liabilities 225 0
Total liabilities 467,756 456,884
Commitments and contingencies (Note 16)
Shareholders’ equity    
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 1,132,222,310 and 1,113,822,550 shares issued as of June 30, 2026 and December 31, 2025, respectively; 1,122,445,390 and 1,106,389,340 shares outstanding as of June 30, 2026 and December 31, 2025, respectively) 7 7
Additional paid-in capital 3,370,798 3,343,469
Accumulated deficit (2,730,461) (2,628,620)
Accumulated other comprehensive income 214 29,697
Treasury Stock (at cost, 9,776,920 and 7,433,210 shares as of June 30, 2026 and December 31, 2025, respectively) (33,521) (29,053)
Total shareholders’ equity 607,037 715,500
Total liabilities and shareholders’ equity $ 1,074,793 $ 1,172,384