v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (69,766) $ (86,693)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,674 8,762
Depreciation and amortization 937 873
Operating lease, right-of-use-asset amortization 206 185
Finance lease, right-of-use-asset amortization 607 607
Net amortization of premiums and discounts on short-term investments (112) (1,339)
Impairment on property, plant and equipment 108 0
Noncash interest expense 806 415
Unrealized foreign currency transaction (gains) losses (688) 591
Changes in operating assets and liabilities:    
Research and development incentives receivable 1,347 1,631
Prepaid expenses and other current assets 3,129 234
Accounts payable (2,334) 3,765
Accrued expenses and other current liabilities (17,424) (5,536)
Operating lease liabilities (218) (195)
Other non-current liabilities 0 (316)
Net cash used in operating activities (75,728) (77,016)
Cash flows from investing activities:    
Purchases of property, plant and equipment and software capitalization (6) (2,740)
Purchase of short-term investments (9,884) (37,581)
Proceeds from sales and maturities of short-term investments 59,883 105,369
Net cash provided by investing activities 49,993 65,048
Cash flows from financing activities:    
Principal payment of finance lease obligation (203) (166)
Proceeds from exercise of stock options 1,003 8
Net cash provided by (used in) financing activities 800 (158)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,270 (1,616)
Net decrease in cash, cash equivalents and restricted cash (23,665) (13,742)
Cash, cash equivalents and restricted cash at beginning of period 210,727 112,822
Cash, cash equivalents and restricted cash at end of period 187,062 99,080
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 1,775 1,059
Cash paid for income taxes, net 33 0
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses $ 3 $ 645