Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income (loss) $ (361,757) $ (397,947)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization expense 26,095 22,352
Stock-based compensation expense 82,780 69,747
Loss (Gain) from change in the fair value of warrants and earnout shares (52,683) 86,671
Net accretion of investments in marketable debt securities (12,955) (14,438)
Changes in operating assets and liabilities    
Other receivables and prepaid expenses and other current assets (2,609) (2,240)
Other non-current assets (783) 901
Accounts payable and accrued and other current liabilities 5,609 2,114
Non-current liabilities 534 2,352
Net cash used in operating activities (315,769) (230,488)
Cash flows from investing activities    
Purchases of marketable securities (308,473) (434,129)
Proceeds from sales and maturities of marketable securities 593,064 733,562
Purchases of property and equipment (25,197) (22,730)
Net cash provided by investing activities 259,394 276,703
Cash flows from financing activities    
Proceeds from issuance of common stock in private placement, net 0 280,023
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan 4,942 3,801
Proceeds from the exercise of stock options and warrants issuance 1,492 1,717
Repayments of tenant improvement loan and obligations under finance lease (1,784) (690)
Net cash provided by financing activities 4,650 284,851
Net change in cash, cash equivalents and restricted cash (51,725) 331,066
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 153,054 481,133
Reconciliation of cash, cash equivalents and restricted cash to balance sheets    
Cash and cash equivalents 152,292 480,371
Restricted cash 762 762
Cash, cash equivalents and restricted cash 153,054 481,133
Non-cash investing and financing activities    
Net assets acquired 9,472 0
Unpaid property and equipment purchases 4,311 1,211
Property and equipment purchased through finance leases 2,537 4,900
Right of use assets acquired through operating leases 4,333 0
Liability Settled on Sale of Fixed Asset $ 200 $ 0