Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (323,271) $ (740,343) $ (240,334)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 53,632 50,767 24,854
Stockbased compensation 33,177 48,001 28,778
Impairment charges 8,518    
Goodwill impairment 112,911 498,800  
Inventory write-off 28,966    
Change in fair value of warrant liability     56,576
Change in fair value of subscription agreement     2,920
Amortization of capitalized commissions 318    
Amortization (accretion) of discount on investments (490) (888) 3,021
Amortization of debt financing cost     9
Amortization of deferred costs on convertible notes 731 453  
Provision for bad debt 2,215 975 447
Provision for slow-moving, obsolete, and lower of cost or net realizable value inventories, net 17 (45)  
Acquired in-process research and development     25,581
Loss on disposal of property and equipment 209 224 74
Net increase (decrease) in accrued interest related to marketable securities 238 847 (819)
Net unrealized (gain) loss on equity investment 464 6,332 9,660
Net unrealized (gain) loss on other investments   1,595 (130)
Deferred tax benefit (3,105) (1,498) (29,668)
Change in fair value of contingent consideration   (1,567) (429)
Foreign currency transaction (gain) loss (613) 303 189
Changes in operating assets and liabilities:      
Accounts receivable (1,297) 6,737 (18,299)
Inventory (19,079) (28,183) (16,962)
Prepaid expenses and other current assets 5,205 1,787 (8,937)
Other assets 4,265 2,505 (3)
Accounts payable (6,894) (6,595) 12,797
Accrued expenses and other current liabilities 1,966 (10,613) (8,761)
Customer deposits (6,169) (2,037) (2,569)
Current portion of deferred revenue (1,962) (4,749) 5,989
Change in right of use assets and lease liabilities, net (6,626) (4,298) (641)
Other liabilities 1,679 (41) 1,609
Net cash used in operating activities (114,995) (181,531) (155,048)
Cash flows from investing activities:      
Purchases of property and equipment (2,762) (11,517) (7,683)
Purchase of other investments     (3,620)
Proceeds from other investments 4,089 3,155  
Purchase of equity investment     (20,000)
Proceeds from sale of property and equipment 9,942 6 44
Proceeds from policy buyout     333
Purchase of marketable securities (4,973) (158,404) (330,873)
Proceeds from sales and maturities of marketable securities 112,719 248,150 243,349
Proceeds from capital grant   200  
Cash paid to acquire in-process research and development     (21,220)
Cash paid for acquisitions, net of cash acquired (1,750) (23) (287,624)
Net cash provided by (used in) investing activities 117,265 81,567 (427,294)
Cash flows from financing activities:      
Proceeds from the exercise of stock options 1,203 3,190 6,426
Proceeds from the exercise of stock warrants     170,665
Payment of taxes related to net share settlement upon vesting of restricted stock units (250) (243) (541)
Repayment of loans (419) (542)  
Proceeds from issuance of convertible notes   115,000  
Costs incurred in connection with the issuance of convertible notes   (3,619)  
Repayment of term loan     (10,000)
Net cash provided by financing activities 534 113,786 166,550
Effect of exchange rate changes on cash, cash equivalents and restricted cash (27) (167) (87)
Net increase (decrease) in cash, cash equivalents, and restricted cash 2,777 13,655 (415,879)
Cash, cash equivalents, and restricted cash at beginning of period 81,913 68,258 484,137
Cash, cash equivalents, and restricted cash at end of period 84,690 81,913 68,258
Supplemental disclosures of cash flow information      
Cash and cash equivalents 83,845 76,291 65,017
Restricted cash included in other current assets 233 4,510 2,129
Restricted cash included in other noncurrent assets 612 1,112 1,112
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 84,690 81,913 68,258
Supplemental cash flow information:      
Interest paid 6,900 3,488 148
Taxes paid     150
Noncash investing and financing activities:      
Net unrealized (gain) loss on investments (339) 290 40
Exercise of private placement warrants     149,904
Common Stock issued for acquisitions     620,590
Common Stock issued for acquisition of in-process research and development     4,300
Common Stock issued for settlement of contingent consideration 797 500  
Accrued purchase price related to acquisitions     1,800
Additions to right of use assets and lease liabilities 13,926 10,812 5,582
Purchase of property and equipment included in accounts payable 239 516 90
Purchase of property and equipment included in accrued expense 31   38
Transfers from property and equipment to inventory 2,214 4,993 1,068
Transfers from inventory to property and equipment $ 1,566 4,513 1,435
Accrued contingent consideration in connection with acquisitions     6,083
Taxes related to net share settlement upon vesting of restricted stock awards in accrued expense     $ 958
Deferred contract costs   1,341  
Equipment financing   $ 175