v3.25.0.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Operating activities:      
Net Loss $ (65,276) $ (76,240) $ (33,592)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 4,946 5,518 5,402
Reduction in the carrying amount of right-of-use assets 3,184 4,405 4,849
Stock-based compensation 13,087 9,971 14,531
Provision (recovery) for credit losses 97 (65) 4
Asset impairment and other charges 165 9,984 0
Impairment of investment in non-marketable securities 6,902 12,215 0
Equity securities earned from research and development activities ($0, $0, and ($1,245) from a related party) 0 (213) (1,245)
Unrealized gain on non-marketable securities ($0, $0, and ($208) from a related party) 0 0 (208)
Non-cash interest expense 885 0 0
Amortization of discount on short-term investments (1,380) 0 0
Other non-cash items (4) 4 (29)
Changes in operating assets and liabilities:      
Financial assets 1,252 20,247 (3,225)
Inventories 886 (656) (869)
Prepaid expenses and other assets 893 (865) 181
Accounts payable (2,567) 2,287 207
Accrued compensation and other accrued liabilities 1,982 (14,041) 5,983
Other long-term liabilities (4,151) (5,341) (5,223)
Deferred revenue (10,311) (19,848) 24,518
Net cash provided by (used in) operating activities (49,410) (52,638) 11,284
Investing activities:      
Purchase of property and equipment (4,305) (4,418) (8,307)
Proceeds from sale of property and equipment 87 751 29
Purchases of short-term investments (90,235) 0 0
Proceeds from maturity of short-term investments 35,500 0 0
Proceeds from sale of short-term investments 1,973 0 0
Investment in non-marketable securities 0 (1,191) (5,300)
Net cash used in investing activities (56,980) (4,858) (13,578)
Financing activities:      
Proceeds from exercises of stock options 1,384 422 955
Proceeds from issuance of stock under employee stock purchase plan 646 0 0
Proceeds from issuance of common stock in connection with equity sales agreements 31,319 8,652 0
Costs incurred in connection with equity sales agreements (1,706) (503) (42)
Proceeds from long-term debt 29,521 0 0
Payment of debt issuance costs (642) 0 0
Taxes paid related to net share settlement of equity awards 0 (404) (1,488)
Net cash provided by (used in) financing activities 60,522 8,167 (575)
Net decrease in cash, cash equivalents and restricted cash (45,868) (49,329) (2,869)
Cash, cash equivalents and restricted cash at the beginning of the year 66,697 116,026 118,895
Cash, cash equivalents and restricted cash at the end of the year 20,829 66,697 116,026
Supplemental disclosure of cash flow information:      
Interest paid 2,566 44 34
Income taxes 17 194 100
Supplemental non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid 566 1,068 897
Cash reconciliation:      
Cash and cash equivalents 19,264 65,116 113,984
Restricted cash, current and non-current 1,565 1,581 2,042
Total cash, cash equivalents and restricted cash at the end of the period $ 20,829 $ 66,697 $ 116,026

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