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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (55,550) $ (133)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,746 2,754
Amortization of deferred financing costs 43 20
Amortization of right-of-use assets 1,607 2,359
Share-based compensation expense 25,909 20,692
Allowance for credit losses, net 622 63
Loss on disposal of fixed assets 112 30
Amortization of premium and discount on marketable securities (967) (8,112)
Change in fair value of contingent consideration liability 12,031 0
Changes in:    
Accounts receivable (12,319) (4,561)
Inventories (6,921) (6,334)
Prepaid expenses, deposits and other assets (233) 352
Accounts payable 5,850 (417)
Payroll-related accruals, accrued expenses and other liabilities 22,210 2,167
Operating lease liabilities (915) (675)
Lease prepayments for lessor's owned leasehold improvements 0 (458)
Net cash (used in) provided by operating activities (775) 7,747
Cash flows from investing activities    
Purchases of property and equipment (5,011) (2,193)
Purchases of marketable securities (39,038) (284,165)
Maturities of marketable securities 75,207 276,800
Purchases of other investments 0 (565)
Working capital adjustment related to acquisition 3,722 0
Capitalized software development costs (1,479) 0
Net cash provided by (used in) investing activities 33,401 (10,123)
Cash flows from financing activities    
Proceeds from issuance of common stock under employee stock purchase plan 3,983 4,172
Proceeds from exercise of stock options 243 440
Payment of taxes related to vested equity awards (5,964) (4,498)
Net cash (used in) provided by financing activities (1,738) 114
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 96 (123)
Net increase (decrease) in cash, cash equivalents and restricted cash 30,984 (2,385)
Cash, cash equivalents and restricted cash beginning of period 39,208 60,222
Cash, cash equivalents and restricted cash end of period $ 70,192 $ 57,837