v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net cash used in operating activities $ (53,728) $ (150,905)
Investing activities:    
Payments for purchases of property, equipment and software and intangible assets (9,927) (52,493)
Proceeds from disposal of property, equipment and software 4,818 11,814
Receipts of government grants related to assets 10,200  
Disposal of subsidiaries, net of cash disposed (11,969) (371)
Proceeds from interest arising from securities pledged to an investor   4,469
Loans to a related party (72,731)  
Proceed from settlement of related party loans 80,251  
Proceed from settlement of derivative instruments   740
Net cash provided by (used in) investing activities 642 (35,841)
Financing activities:    
Proceeds from issuance of exchangeable notes   27,842
Proceeds from issuance of convertible notes 128,325 189,263
Repayments of convertible notes (128,325) (119,263)
Proceeds from borrowings 719,624 809,735
Repayments of borrowings (690,077) (601,425)
Payments of cash collateral to Meritz   (74,469)
Net cash provided by financing activities 35,547 231,706
Effect of exchange rate changes on cash and restricted cash 26,723 (38,349)
Net increase in cash and restricted cash 9,184 6,611
Cash and restricted cash at beginning of the period 550,277 484,937
Cash and restricted cash at end of the period 559,461 491,548
Reconciliation of cash and restricted cash:    
Cash 80,378 67,849
Restricted cash, current 269,593 420,971
Restricted cash, non-current 209,490 2,728
Total cash and restricted cash 559,461 491,548
Supplemental information    
Interest paid 27,014 16,614
Income taxes paid 629 1,455
Income taxes refund   (349)
Non-cash investing and financing activities:    
Purchase of property, equipment and software and intangible assets included in accrued expenses and other current liabilities 18,375 37,921
Issuance costs payable 6,556 6,556
Receivable from a disposal of an equity investment under common control   58,671
Receivable from issuance of ordinary shares to Westwood   82
Issuance of ordinary shares through conversion of convertible notes 2,236  
Westwood Capital Group LLC    
Financing activities:    
Proceeds from issuance of ordinary shares   $ 23
ECARX    
Financing activities:    
Proceeds from issuance of ordinary shares $ 6,000