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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net loss $ (42,715) $ (123,873)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 4,043 3,396
Amortization of debt issuance costs 650 503
Provision for expected credit losses 2,198 1,386
Accretion (amortization) of discount or premium on short-term investments (434) 312
Stock-based compensation expense 22,039 21,194
Loss on extinguishment of debt 1,268 0
Acquired in-process research and development expenses 0 78,750
Other 52 94
Changes in operating assets and liabilities:    
Accounts receivable, net 9,765 22,845
Inventories 3,157 (19,916)
Prepaid and other current assets (4,104) (5,208)
Other long-term assets (236) (386)
Accounts payable and accrued expenses (3,369) (919)
Employee-related liabilities (1,654) (210)
Deferred revenue (372) 925
Operating leases and other current liabilities 883 2,895
Other long-term liabilities 833 (114)
Net cash used in operating activities (7,996) (18,326)
Investing Activities    
Purchases of short-term investments (84,249) (109,115)
Proceeds from maturities and redemptions of short-term investments 83,650 163,110
Purchases of property and equipment (4,457) (8,828)
Acquisitions, including in-process research and development, net of cash acquired 0 (69,496)
Purchases of intangible assets and strategic investments 0 (2,000)
Net cash used in investing activities (5,056) (26,329)
Financing Activities    
Proceeds from issuance of convertible senior notes due 2029, net of $9,400 debt issuance costs 306,850 0
Repurchase of $246,740 principal amount of convertible senior notes due 2025 (246,123) 0
Payment for capped call transactions related to convertible senior notes due 2029 (15,813) 0
Repurchase and retirement of common stock (30,000)
Proceeds from issuance of common stock under Company stock plans, net of cash used to settle withholding taxes on vested restricted stock (1,511) (541)
Other financing activities 183 0
Net cash provided by (used in) financing activities 13,586 (541)
Effect of foreign exchange rate changes on cash (423) 441
Net increase (decrease) in cash and cash equivalents 111 (44,755)
Cash and cash equivalents at beginning of period 58,868 172,517
Cash and cash equivalents at end of period 58,979 127,762
Supplemental disclosures of cash flow information    
Income taxes paid 269 369
Supplemental schedule of non-cash investing and financing activities    
Operating lease right-of-use assets obtained in exchange for operating lease obligations 2,294 0
Purchases of property and equipment included in accounts payable 3,214 4,071
Intangible costs in accounts payable $ 0 $ 515