v3.25.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 717,155 $ 449,667
Restricted cash, current 100,000 100,000
Short-term investments 0 330,000
Accounts receivable (net of allowance for credit losses of $25 as of both September 30, 2025 and December 31, 2024, respectively) 85,377 85,178
Notes receivable 19,628 4,233
Inventories, net 67,135 39,875
Prepayments and other current assets 43,653 41,527
Total current assets 1,032,948 1,050,480
Restricted cash, non-current 1,115 1,114
Property and equipment, net 48,868 47,961
Operating lease right-of-use assets 15,751 21,496
Land use rights, net 2,852 2,907
Intangible assets, net 55,278 56,027
Other non-current assets 2,128 5,768
Total assets 1,158,940 1,185,753
Current liabilities    
Accounts payable 99,706 100,906
Current operating lease liabilities 5,496 8,048
Short-term debt 203,026 131,711
Other current liabilities 51,541 58,720
Total current liabilities 359,769 299,385
Deferred income 28,061 31,433
Non-current operating lease liabilities 10,840 13,712
Other non-current liabilities 325 325
Total liabilities 398,995 344,855
Commitments and contingencies (Note 17)
Shareholders’ equity    
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 1,113,299,160 and 1,082,614,740 shares issued as of September 30, 2025 and December 31, 2024, respectively; 1,105,865,950 and 1,077,702,540 shares outstanding as of September 30, 2025 and December 31, 2024, respectively) 7 7
Additional paid-in capital 3,327,557 3,264,295
Accumulated deficit (2,578,211) (2,453,083)
Accumulated other comprehensive income 39,645 50,515
Treasury Stock (at cost, 7,433,210 and 4,912,200 shares as of September 30, 2025 and December 31, 2024, respectively) (29,053) (20,836)
Total shareholders’ equity 759,945 840,898
Total liabilities and shareholders’ equity $ 1,158,940 $ 1,185,753