XML 41 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net loss $ (545,062) $ (657,939) $ (1,743,751)
Reconciliation of net loss to net cash used in operating activities:      
Depreciation and amortization 41,225 29,054 12,661
Right-of-use assets expensed, net of credits received 6,113 18,104 144,433
Non-cash stock-based compensation 85,357 130,300 183,626
Provision for excess and obsolete inventory 72,197 447,597 0
Impairment of long-lived assets 10,081 0 0
Other items, net (7,042) (21,903) (7,641)
Changes in operating assets and liabilities:      
Inventory (74,457) (477,801) (8,872)
Accounts receivable, prepaid expenses, and other assets (274,442) 249,166 (183,393)
Accounts payable, accrued expenses, and other liabilities (378,805) 913,399 600,326
Deferred revenue 350,868 (1,045,914) 1,325,557
Net cash provided by (used in) operating activities (713,967) (415,937) 322,946
Investing Activities:      
Capital expenditures (53,771) (89,056) (54,501)
Internal-use software (5,035) (3,929) (2,985)
Purchases of marketable securities 0 0 (2,167)
Proceeds from maturities of marketable securities 0 0 159,807
Net cash provided by (used in) investing activities (58,806) (92,985) 100,154
Financing Activities:      
Net proceeds from sales of common stock 360,243 249,230 564,859
Proceeds from issuance of 2027 Convertible notes 0 175,250 0
Payments of costs related to issuance of 2027 Convertible notes (3,591) (5,258) 0
Net proceeds from the exercise of stock-based awards 159 (639) 24,761
Repayment of 2023 Convertible notes (325,000) 0 0
Finance lease payments (27,345) (93,595) (127,907)
Net cash provided by financing activities 4,466 324,988 461,713
Effect of exchange rate on cash, cash equivalents, and restricted cash 3,272 4,520 (5,292)
Net (decrease) increase in cash, cash equivalents, and restricted cash (765,035) (179,414) 879,521
Cash, cash equivalents, and restricted cash at beginning of year 1,348,845 1,528,259 648,738
Cash, cash equivalents, and restricted cash at end of year 583,810 1,348,845 1,528,259
Supplemental disclosure of non-cash activities:      
Sale of common stock under the Sales Agreement not settled at year-end 6,862 0 0
Capital expenditures included in accounts payable and accrued expenses 7,899 17,665 10,338
Right-of-use assets from new lease agreements 103,299 91,855 179,210
Supplemental disclosure of cash flow information:      
Cash interest payments, net of amounts capitalized 17,349 18,035 19,428
Cash paid for income taxes $ 190 $ 17,980 $ 12,606