v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (366,302) $ (273,140) $ (571,269)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 16,969 25,255 26,624
Amortization of operating lease right-of-use assets 6,113 8,497 6,987
Amortization of discount on marketable securities (1,099) (2,248) (5,929)
Loss on marketable securities 690 1,901 7,594
Losses and impairments on non-marketable securities and certain other assets 0 4,000 2,141
Change in fair value of warrants 0 (1,069) (1,936)
Vendor stock in lieu of cash program 12,785 14,614 50,829
Amortization of debt discount and issuance costs 7,955 4,938 3,236
Inventory write-offs and write-downs 12,820 20,133 19,547
Loss on Firm Purchase Commitments 42,811 0 0
Change in the fair value of the derivatives 3,308 (31,729) 0
Gain or write-off on sale or disposal of property and equipment 166 (51) 1,522
Gain on extinguishment of debt (22,303) (148,660) 0
Share-based compensation, including restructuring costs 8,706 139,135 207,132
Impairment of goodwill and intangible assets 3,719 6,647 15,489
Impairment of long-lived assets 7,513 0 0
Loss (gain) from acquisition of EM4 48 (1,474) 0
Provision for credit loss 2,186 0 0
Gain from sale of investment (2,908) 0 0
Change in product warranty and other 6,172 (2,790) 2,382
Deferred taxes 0 (582) (64)
Reorganization Items 41,744 0 0
Changes in operating assets and liabilities:      
Accounts receivable 8,312 916 (2,951)
Inventories (4,866) (19,306) (22,951)
Prepaid expenses and other current assets 10,539 (4,990) 11,641
Other non-current assets 21,701 10,722 177
Accounts payable 14,436 (2,639) 3,657
Accrued and other current liabilities (7,861) (7,212) 9,158
Other non-current liabilities (19,808) (17,498) (10,320)
Net cash used in operating activities (196,454) (276,630) (247,304)
Cash flows from investing activities:      
Purchases of marketable securities (54,268) (130,404) (301,493)
Proceeds from maturities of marketable securities 128,120 177,932 520,286
Proceeds from sales/redemptions of marketable securities 23,625 3,421 52,356
Issuance of promissory notes (2,100) 0 0
Proceeds from sales of equity investment 2,908 0 0
Purchases of property and equipment (2,021) (5,090) (21,915)
Acquisition, net of cash acquired 242 (3,531) 0
Proceeds from disposal of property and equipment 305 135 0
Acquisition of Seagate's lidar business 0 0 (12,608)
Net cash provided by investing activities 96,811 42,463 236,626
Cash flows from financing activities:      
Proceeds from issuance of Senior notes, net of Senior Notes and 2030 Convertible Notes issuance costs 0 89,202 0
Proceeds from exercise of stock options 0 548 3,061
Proceeds from sale of Class A common stock under ESPP 381 1,153 2,641
Payments of employee taxes related to stock-based awards (1,054) (1,997) (2,137)
Proceeds from a financing transaction 0 0 6,442
Net cash provided by financing activities 36,598 178,265 80,197
Net (decrease) increase in cash, cash equivalents and restricted cash (63,045) (55,902) 69,519
Beginning cash, cash equivalents and restricted cash 84,722 140,624 71,105
Ending cash, cash equivalents and restricted cash 21,677 84,722 140,624
Supplemental disclosures of cash flow information:      
Cash paid for interest 29,479 14,837 7,813
Supplemental disclosures of noncash investing and financing activities:      
Deemed dividend on Series A preferred stock (11,820) 0 0
Recognition/derecognition of right-of-use assets in exchange for lease obligations (9,714) (4,821) 28,447
Purchases of property and equipment recorded in accounts payable and accrued liabilities 250 490 826
Vendor stock in lieu of cash program-advances for capital projects and equipment 0 0 8,551
Investment in Plus 0 0 10,000
Conversion of 2030 Convertible Notes [Member]      
Supplemental disclosures of noncash investing and financing activities:      
Conversion of Convertible Notes to Class A common stock 1,300 28,945 0
Conversion of 2030 Convertible Notes [Member]      
Cash flows from financing activities:      
Repurchase of 2026 Convertible Senior Notes (30,297) 0 0
Supplemental disclosures of noncash investing and financing activities:      
Conversion of Convertible Notes to Class A common stock 16,105 0 0
Class A Common Stock [Member]      
Cash flows from financing activities:      
Proceeds from Issuance of Convertible Preferred Stock 31,415 0 0
Supplemental disclosures of noncash investing and financing activities:      
Conversion of Convertible Notes to Class A common stock 41,265 0 0
Deemed dividend on Series A preferred stock (11,820) 0 0
Equity Financing Program [Member] | Class A Common Stock [Member]      
Cash flows from financing activities:      
Proceeds from issuance of Class A common stock 36,153 89,359 50,190
TPK Universal Solutions Limited [Member] | Class A Common Stock [Member]      
Cash flows from financing activities:      
Proceeds from issuance of Class A common stock $ 0 $ 0 $ 20,000

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