v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income (loss) $ (10,435) $ (37,270) $ (97,231) $ (111,728) $ (136,227)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Depreciation and amortization 4,416 3,663 12,847 10,432 14,650
Accrued Interest (516) 789 (631) 4,436 4,949
Asset write-downs and impairment of field equipment 2,841 230 4,291 2,915 4,851
Share-based compensation 17,483 29,321 97,504 85,016 104,832
Foreign currency remeasurement loss (gain) (1,021) 890 (527) 2,212 1,251
Decrease (increase) in accounts receivables and prepaid expenses (13,408) 3,577 (12,156) (15,476) (38,938)
Amortization of discount (premium) (2,609) (6,402) (7,819) (19,516) (23,262)
Decrease (increase) in inventories 1,946 886 34 (3,684) (5,668)
Decrease (increase) in other long-term assets 2,311 2,490 7,260 6,480 10,847
Increase (decrease) in accounts payables and accrued expenses 25,155 24,830 22,832 10,517 18,958
Increase (decrease) in other long-term liabilities (3,496) (2,430) (9,122) (2,631) (5,274)
Net cash provided by (used in) operating activities 22,667 20,574 17,282 (31,027) (49,031)
Cash flows from investing activities:          
Purchase of property, equipment and field equipment (6,921) (5,655) (18,989) (21,752) (26,648)
Proceeds from maturity of short-term investments 100,000 185,000 305,000 725,000 1,285,000
Purchase of short-term investments (116,316) (107,909) (307,879) (602,298) (821,076)
Net cash provided by (used in) investing activities (23,237) 71,436 (21,868) 100,950 437,276
Cash flows from financing activities:          
Proceeds from issuance of shares, net 0 0 2,093 2,136 3,656
Proceeds from senior secured credit facility, net 0 99,979 0 99,979 99,979
Repayment and redemption of long-term debt 0 0 0 0 (560,945)
Tax payments related to net settlements on equity awards 0 0 (556) 0 (146)
Exercise of options 3,643 538 6,488 6,036 6,113
Net cash provided by (used in) financing activities 3,643 100,517 8,025 108,151 (451,343)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 149 (22) 11 470 394
Increase (decrease) in cash, cash equivalents and restricted cash 3,222 192,505 3,450 178,544 (62,704)
Cash, cash equivalents and restricted cash at the beginning of the period 103,618 152,133 103,390 166,094 166,094
Cash, cash equivalents and restricted cash at the end of the period 106,840 344,638 106,840 344,638 103,390
Cash paid during the period for:          
Income taxes paid (refunded), net 2,204 3,430 1,195 22,239 30,673
Interest paid 5,104 2,843 15,098 8,162 13,406
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 96,734 342,119 96,734 342,119 93,548
Restricted cash 10,106 2,519 10,106 2,519 9,842
Total cash, cash equivalents and restricted cash 106,840 344,638 106,840 344,638 103,390
Non-cash activities:          
Right-of-use assets obtained (disposed) in exchange for lease liabilities 1,729 2,678 3,748 27,788 29,369
Purchase of property incurred but unpaid at period end $ 646 $ 370 $ 646 $ 370 $ 886