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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (79,727) $ (76,941)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 20,565 17,495
Depreciation and amortization 1,779 1,392
Premiums and discounts on available-for-sale marketable securities (2,743) 1,852
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (3,994) 630
Contract asset—due from related parties (1,585) (2,234)
Accounts payable (513) (1,847)
Accrued expenses and other current liabilities (6,252) (1,720)
Deferred revenue (18,537) (17,503)
Operating lease right-of-use assets 2,055 245
Operating lease liabilities 9,554 (479)
Other assets and liabilities 174 (170)
Net cash used in operating activities (79,224) (79,280)
Investing activities    
Purchase of property and equipment, net (14,777) (1,217)
Purchases of investments (114,477) (144,827)
Maturities of investments 189,677 253,710
Net cash provided by investing activities 60,423 107,666
Financing activities    
Proceeds from stock option exercises 2,163 826
Proceeds from employee stock purchase plan 962 256
Payments on finance leases (661) (533)
Net cash provided by financing activities 2,464 549
Net (decrease) increase in cash, cash equivalents and restricted cash (16,337) 28,935
Cash, cash equivalents and restricted cash at beginning of period 74,524 54,092
Cash, cash equivalents and restricted cash at end of period 58,187 83,027
Supplemental disclosure of cash flow activities    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 48,833 0
Cash paid for interest 78 86
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses 1,061 745
Purchase of property and equipment through finance lease 0 340
Cash and cash equivalents 52,386 76,914
Restricted cash 5,801 6,113
Total cash, cash equivalents, and restricted cash $ 58,187 $ 83,027