v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net loss $ (85,845) $ 27,403 $ (189,435) $ (228,918)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     12,956 20,169  
Amortization of operating lease right-of-use assets     4,928 6,464  
Amortization of discount on marketable securities     (1,086) (1,819)  
Loss on marketable securities     150 2,201  
Impairment of goodwill and other intangible assets 3,719 6,647 3,719 6,647  
Impairment of long-lived assets     7,513 0  
Change in fair value of private warrants     0 (1,050)  
Vendor stock in lieu of cash program     12,785 12,358  
Amortization of debt discount and issuance costs     5,868 3,065  
Inventory write-offs and write-downs 1,200 2,900 4,587 20,737  
Change in the fair value of derivatives (2,521) (2,476) (7,841) (2,476)  
Gain or write-off on sale or disposal of property and equipment     238 0  
Share-based compensation, including restructuring costs     9,192 115,792  
Gain on extinguishment of debt 0 (147,346) (22,056) (147,346)  
Impairment of investments     0 4,000  
Gain (loss) from acquisition of EM4 0 0 48 (1,752)  
Provision for credit loss 2,200   2,186 0 $ 0
Gain from sale of investment     (2,908) 0  
Change in product warranty and other     6,284 (2,367)  
Changes in operating assets and liabilities:          
Accounts receivable     (45) (59)  
Inventories     (6,080) (22,638)  
Prepaid expenses and other current assets     15,449 (1,987)  
Other non-current assets     17,979 (5,108)  
Accounts payable     1,288 7,327  
Accrued and other current liabilities     (4,721) 9,590  
Other non-current liabilities     (16,930) (7,522)  
Net cash used in operating activities     (145,932) (214,692)  
Cash flows from investing activities:          
Purchases of marketable securities     (54,080) (92,400)  
Proceeds from maturities of marketable securities     118,980 154,837  
Proceeds from sales/redemptions of marketable securities     16,194 3,737  
Issuance of promissory notes     (2,100) 0  
Proceeds from sales of equity investment     2,908 0  
Purchases of property and equipment     (766) (4,244)  
Proceeds from disposal of property and equipment     305 0  
Net cash provided by investing activities     81,683 58,099  
Cash flows from financing activities:          
Proceeds from stock plans     338 800  
Proceeds from exercise of stock options     0 547  
Payments of employee taxes related to stock-based awards     (990) (240)  
Proceeds from issuance of Senior notes, net of Senior Notes and 2030 Convertible Notes issuance costs     0 89,202  
Net cash provided by financing activities     36,619 132,115  
Net decrease in cash, cash equivalents and restricted cash     (27,630) (24,478)  
Beginning cash, cash equivalents and restricted cash     84,722 140,624 140,624
Ending cash, cash equivalents and restricted cash $ 57,092 $ 116,146 57,092 116,146 $ 84,722
Supplemental disclosures of cash flow information:          
Cash paid for interest     29,479 4,683  
Supplemental disclosures of noncash investing and financing activities:          
Recognition/(derecognition) of operating lease right-of-use asset and liability     (7,906) 2,543  
Purchases of property and equipment recorded in accounts payable and accrued liabilities     1,131 400  
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 Series A preferred stock, net of issuance costs, discount and commitment fees     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 18,596  
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     37,359 0  
Deemed dividend on Series A preferred stock     (11,284) 0  
Equity Financing Program | Class A Common Stock          
Cash flows from financing activities:          
Proceeds from issuance of Class A common stock     36,153 41,806  
EM4          
Cash flows from investing activities:          
Acquisition of EM4 (net of cash acquired)     $ 242 $ (3,831)  

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