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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (68,920) $ (1,420)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 15,783 9,953
Depreciation of property and equipment 1,120 275
Non-cash lease expense 1,165 695
Non-cash interest expense, net 1,771 424
Changes in assets and liabilities:    
Accounts receivable, other 19 20
Accounts receivable due from related party (21) (72)
Prepaids and other current assets 994 (388)
Other assets 19 254
Accounts payable 2,636 370
Operating lease liabilities 8,094 (323)
Other liabilities (214) (486)
Deferred revenue from related party (1,864) (55,066)
Net cash used in operating activities (39,418) (45,764)
Investing activities    
Purchases of property and equipment, net (14,177) (2,130)
Purchases of investments (198,944) (100,708)
Maturities of investments 299,555 91,830
Net cash provided by (used in) investing activities 86,434 (11,008)
Financing activities    
Proceeds from issuance of common stock 0 325,654
Proceeds from exercise of stock options and employee stock purchase plan 3,165 24,495
Employees' tax withheld and paid for with restricted stock units (5,273) (3,709)
Borrowings under credit facility agreement, net of issuance costs 0 4,358
Net cash provided by (used in) financing activities (2,108) 350,798
Net increase in cash, cash equivalents and restricted cash 44,908 294,026
Cash, cash equivalents and restricted cash at beginning of period 33,377 40,259
Cash, cash equivalents and restricted cash at end of period 78,285 334,285
Supplemental disclosures of cash flow information    
Cash paid for interest 1,029 913
Right-of-use assets obtained in exchange for lease obligations 455 27,078
Purchases of property and equipment, net recorded in accounts payable and accrued liabilities $ 4,436 $ 1,560