v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 679,573 $ 449,667
Restricted cash, current 100,000 100,000
Short-term investments 10,000 330,000
Accounts receivable (net of allowance for credit losses of $31 and $25 as of December 31, 2025 and 2024, respectively) 106,116 85,178
Notes receivable 12,169 4,233
Inventories, net 74,745 39,875
Prepayments and other current assets 36,683 41,527
Total current assets 1,019,286 1,050,480
Restricted cash, non-current 1,116 1,114
Property and equipment, net 47,389 47,961
Operating lease right-of-use assets 19,152 21,496
Land use rights, net 2,853 2,907
Intangible assets, net 76,144 56,027
Deferred tax assets 3,390 0
Other non-current assets 3,054 5,768
Total assets 1,172,384 1,185,753
Current liabilities    
Accounts payable 141,608 100,906
Current operating lease liabilities 6,344 8,048
Short-term debt 204,530 131,711
Other current liabilities 63,684 58,720
Total current liabilities 416,166 299,385
Deferred income 27,333 31,433
Non-current operating lease liabilities 13,385 13,712
Other non-current liabilities 0 325
Total liabilities 456,884 344,855
Commitments and contingencies (Note 20)
Shareholders’ equity    
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 1,113,822,550 and 1,082,614,740 shares issued as of December 31, 2025 and 2024, respectively; 1,106,389,340 and 1,077,702,540 shares outstanding as of December 31, 2025 and 2024, respectively) 7 7
Additional paid-in capital 3,343,469 3,264,295
Accumulated deficit (2,628,620) (2,453,083)
Accumulated other comprehensive income 29,697 50,515
Treasury stock (at cost 7,433,210 and 4,912,200 shares as of December 31, 2025 and 2024, respectively) (29,053) (20,836)
Total shareholders’ equity 715,500 840,898
Total liabilities and shareholders’ equity $ 1,172,384 $ 1,185,753