v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (103,590) $ (256,321)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,772 14,458
Amortization of operating lease right-of-use assets 3,446 4,230
Amortization of discount on marketable securities (983) (1,278)
Loss on marketable securities 90 1,976
Change in fair value of private warrants 0 (985)
Vendor stock in lieu of cash program 5,694 8,448
Amortization of debt discount and issuance costs 3,848 1,618
Inventory write-offs and write-downs 3,426 17,806
Change in the fair value of derivatives (5,320) 0
Gain or write-off on sale or disposal of property and equipment 238 0
Share-based compensation, including restructuring costs (1,277) 83,019
Gain on extinguishment of debt (22,056) 0
Impairment of investments 0 4,000
Gain (loss) from acquisition of EM4 48 (1,752)
Change in product warranty and other 4,657 (2,758)
Changes in operating assets and liabilities:    
Accounts receivable (4,185) (4,563)
Inventories (6,863) (16,098)
Prepaid expenses and other current assets 11,609 (1,793)
Other non-current assets 17,778 (2,915)
Accounts payable 9,354 (1,877)
Accrued and other current liabilities (7,069) 916
Other non-current liabilities (15,571) (5,067)
Net cash used in operating activities (97,954) (158,936)
Cash flows from investing activities:    
Purchases of marketable securities (54,154) (75,051)
Proceeds from maturities of marketable securities 80,760 112,242
Proceeds from sales/redemptions of marketable securities 14,490 3,737
Purchases of property and equipment (226) (1,586)
Proceeds from disposal of property and equipment 305 0
Net cash provided by investing activities 41,417 35,511
Cash flows from financing activities:    
Proceeds from stock plans 338 800
Proceeds from exercise of stock options 0 407
Payments of employee taxes related to stock-based awards (196) (216)
Net cash provided by financing activities 22,721 36,894
Net decrease in cash, cash equivalents and restricted cash (33,816) (86,531)
Beginning cash, cash equivalents and restricted cash 84,722 140,624
Ending cash, cash equivalents and restricted cash 50,906 54,093
Supplemental disclosures of cash flow information:    
Cash paid for interest 20,532 3,906
Supplemental disclosures of noncash investing and financing activities:    
Recognition/(derecognition) of operating lease right-of-use asset and liability (7,906) 3,842
Purchases of property and equipment recorded in accounts payable and accrued liabilities 1,388 876
Convertible Senior Notes Due 2026    
Cash flows from financing activities:    
Repurchase of 2026 Convertible Senior Notes (30,297) 0
Class A Common Stock    
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock 31,415 0
Class A Common Stock | Conversion of 2030 Convertible Notes    
Supplemental disclosures of noncash investing and financing activities:    
Conversion of Convertible Notes to Class A common stock 1,127 0
Class A Common Stock | Conversion of 2026 Convertible Senior Notes    
Supplemental disclosures of noncash investing and financing activities:    
Conversion of Convertible Notes to Class A common stock 16,105 0
Series A Preferred Stock    
Supplemental disclosures of noncash investing and financing activities:    
Conversion of Convertible Notes to Class A common stock 12,836 0
Deemed dividend on Series A preferred stock (7,602) 0
Equity Financing Program | Class A Common Stock    
Cash flows from financing activities:    
Proceeds from issuance of Class A common stock 21,461 35,903
EM4    
Cash flows from investing activities:    
Acquisition of EM4 (net of cash acquired) $ 242 $ (3,831)

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