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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (94,587) $ (113,393)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization expense 8,507 7,067
Stock-based compensation expense 27,017 17,258
(Gain)/Loss from change in the fair value of warrants and earnout shares (39,027) 22,070
Net accretion of investments in marketable debt securities (5,492) (3,670)
Changes in operating assets and liabilities    
Other receivables and prepaid expenses and other current assets (4,230) (8,517)
Other non-current assets (234) 2,629
Accounts payable and accrued and other current liabilities 1,243 (1,083)
Non-current liabilities 168 (929)
Net cash used in operating activities (106,635) (78,568)
Cash flows from investing activities    
Purchases of marketable securities (160,033) (126,445)
Proceeds from sales and maturities of marketable securities 179,546 116,072
Purchases of property and equipment (6,885) (8,756)
Net cash provided by (used in) investing activities 12,628 (19,129)
Cash flows from financing activities    
Proceeds from issuance of common stock in private placement, net 0 50
Proceeds from the exercise of stock options and warrants issuance 1,010 612
Repayments of tenant improvement loan and obligations under finance lease (472) (240)
Net cash provided by financing activities 538 422
Net change in cash, cash equivalents and restricted cash (93,469) (97,275)
Cash, cash equivalents and restricted cash, at the beginning of the period 204,779 150,067
Cash, cash equivalents and restricted cash, at the end of the period 111,310 52,792
Reconciliation of cash, cash equivalents and restricted cash to balance sheets    
Cash and cash equivalents 110,548 49,795
Restricted cash 762 2,997
Cash, cash equivalents and restricted cash 111,310 52,792
Non-cash investing and financing activities    
Unpaid property and equipment purchases 1,865 1,357
Property and equipment purchased through finance leases 849 0
Right of use assets acquired through operating leases $ 1,399 $ 0

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