v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Operating activities:      
Net loss $ (20,640) $ (53,575) $ (54,900)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   3,891 3,737
Reduction in the carrying amount of right-of-use assets   2,178 2,364
Stock-based compensation 2,708 7,424 10,561
Provision (recovery) for credit losses   (113) 0
Asset impairment and other charges 0 0 165
Impairment of investment in non-marketable securities 3,900 0 3,910
Non-cash interest expense   929 611
Amortization of discount on short-term investments   (931) (1,009)
Other non-cash items   0 11
Changes in operating assets and liabilities:      
Financial assets   9,346 2,818
Inventories   (137) 582
Prepaid expenses and other assets   (1,320) 1,417
Accounts payable   (493) (1,339)
Accrued compensation and other accrued liabilities   (4,295) 1,334
Other long term liabilities   (2,318) (3,064)
Deferred revenue   (54) (140)
Net cash used in operating activities   (39,468) (32,942)
Investing activities:      
Purchase of property and equipment   (3,951) (2,531)
Proceeds from sale of property and equipment   5 84
Purchases of short-term investments   (41,891) (72,643)
Proceeds from maturity of short-term investments   63,626 19,000
Proceeds from sale of short-term investments   0 1,973
Net cash provided by (used in) investing activities   17,789 (54,117)
Financing activities:      
Proceeds from exercises of stock options   1,098 281
Proceeds from issuance of stock under employee stock purchase plan   317 525
Proceeds from issuance of common stock in connection with equity sales agreements   17,268 31,320
Costs incurred in connection with equity sales agreements   (829) (1,615)
Proceeds from long-term debt   9,897 29,521
Payment of debt issuance costs   (3) (642)
Net cash provided by financing activities   27,748 59,390
Net increase (decrease) in cash, cash equivalents and restricted cash   6,069 (27,669)
Cash, cash equivalents and restricted cash at the beginning of the period   20,829 66,697
Cash, cash equivalents and restricted cash at the end of the period 39,028 26,898 39,028
Supplemental disclosure of cash flow information:      
Interest paid   2,242 1,633
Income taxes paid   0 17
Supplemental non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid   212 249
Cash reconciliation:      
Cash and cash equivalents 37,452 25,351 37,452
Restricted cash, current and non-current 1,576 1,547 1,576
Total cash, cash equivalents and restricted cash 39,028 26,898 39,028
Short-term investments 52,800 33,350 52,800
Cash, cash equivalents, and short-term investments $ 90,300 $ 58,701 $ 90,300

Source

10-Q XBRL Zip