Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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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 $ (155,538) $ (102,369)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 96,043 26,965
Stock-based compensation 14,335 19,016
Amortization (accretion) of discount on investments   (484)
Amortization of deferred costs on convertible notes 365 365
Provision for bad debt 200 962
Provision for slow-moving, obsolete, and lower of cost or net realizable value inventories, net (45)  
Loss on disposal of property and equipment (92) 496
Foreign exchange (gains) losses on intercompany transactions, net 299  
Net decrease in accrued interest related to marketable securities   238
Net unrealized loss on equity investment 448 148
Deferred tax benefit 147 (534)
Foreign currency transaction loss 497 97
Changes in operating assets and liabilities:    
Accounts receivable 7,777 (3,661)
Inventory (3,353) (8,760)
Prepaid expenses and other current assets 910 (675)
Other assets 8,909 1,595
Accounts payable (38) (407)
Accrued expenses and other current liabilities (282) 1,097
Customer deposits (644) (2,322)
Current portion of deferred revenue (3,611) (918)
Change in right of use assets and lease liabilities, net (3,778) (3,110)
Other liabilities 19 1,767
Net cash used in operating activities (37,432) (70,494)
Cash flows from investing activities:    
Purchases of property and equipment (681) (1,305)
Proceeds from sale of property and equipment 1,694 9,942
Purchase of marketable securities   (4,973)
Proceeds from sales and maturities of marketable securities   107,719
Cash paid for acquisitions, net of cash acquired   (500)
Net cash provided by investing activities 1,013 110,883
Cash flows from financing activities:    
Proceeds from the exercise of stock options   1,157
Payment of taxes related to net share settlement upon vesting of restricted stock units (376) (108)
Repayment of loans (158) (328)
Net cash (used in) provided by financing activities (534) 721
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,055) 73
Cash and cash equivalents at beginning of period 83,845  
Cash and cash equivalents at period end 45,855 121,660
Net increase (decrease) in cash, cash equivalents, and restricted cash (38,008) 41,183
Cash, cash equivalents, and restricted cash at beginning of period 84,690 81,913
Cash, cash equivalents, and restricted cash at end of period 46,682 123,096
Supplemental disclosures of cash flow information    
Cash and cash equivalents 45,855 121,660
Restricted cash included in other current assets 215 824
Restricted cash included in other noncurrent assets 612 612
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 46,682 123,096
Supplemental cash flow information:    
Interest paid 3,488  
Non-cash investing and financing activities:    
Net unrealized gain on investments   (337)
Common Stock issued for settlement of contingent consideration   797
Additions to right of use assets and lease liabilities 863 8,489
Purchase of property and equipment included in accounts payable 129 365
Purchase of property and equipment included in accrued expense   32
Transfers from inventory to property and equipment $ 1,285 1,345
Transfers from property and equipment to inventory   $ 841