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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (10,707) $ (39,232)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 9,339 6,823
Depreciation and amortization 29 68
Amortization of premium (discount) on investment securities (1,670) (301)
Amortization of debt issuance costs 639 461
Amortization of leasehold interest 53 53
Noncash change in lease liability and right of use asset 407 491
Change in fair value of equity investments (195) 0
Change in fair value of notes payable (35) 59
Changes in assets and liabilities:    
Increase in inventory (36,931) (26,924)
Decrease (increase) in other current assets 1,490 (2,623)
Increase in accounts receivable (13,889) (8,623)
Increase in accounts payable and accrued expenses 40,222 9,858
Decrease in lease liabilities (596) (593)
Increase in other current liabilities 3,035 619
Increase (decrease) in deferred revenue 602 (38)
Net cash used in operating activities (8,207) (59,902)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 73,401 16,000
Investment in held-to-maturity securities (81,531) (22,168)
Investment in long-term securities (1,125) 0
Net cash used in investing activities (9,255) (6,168)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of options 10 363
Proceeds from debt financings 25,000
Financing costs paid (125)
Net cash provided by financing activities 10 25,238
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (17,452) (40,832)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 94,218 103,577
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 76,766 62,745
Reconciliation to amounts on condensed consolidated balance sheets:    
Cash and cash equivalents 75,477 61,469
Restricted Cash 1,289 1,276
Total cash, cash equivalents and restricted cash 76,766 62,745
Cash paid for:    
Interest $ 2,448 $ 1,749