v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net loss $ (104,937) $ (96,130)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 49,155 28,742
Depreciation and amortization 503 762
Non-cash interest expense 9,116 11,226
Non-cash accretion & amortization of short-term investments (2,610) (2,966)
Non-cash rent expense 232 215
Change in fair value of embedded derivative liability 560 (420)
Foreign currency (gain) loss 337 (1,709)
Other non-cash items 665 0
Changes in operating assets and liabilities:    
Accounts receivable (14,326) (7,145)
Inventory (5,428) (96)
Prepaid expenses and other current assets 2,317 (10,005)
Deferred revenue (194) (1,286)
Other long-term assets, net 435 5,526
Accounts payable, accrued expenses and other liabilities 10,838 9,622
Net cash used in operating activities (53,337) (63,664)
Investing activities    
Purchases of short-term investments (85,685) (60,475)
Maturities of short-term investments 156,750 139,322
Net cash provided by investing activities 71,065 78,847
Financing activities    
Repayment of deferred royalty obligation (11,195) (8,947)
Proceeds from the exercise of stock options 13,094 5,669
Tax withholding on vesting of restricted stock (9,715) 0
Proceeds from issuance of common stock from ESPP 1,251 854
Proceeds from ATM equity offering 0 34,034
Net cash provided by financing activities (6,565) 31,610
Effect of exchange rates on cash 231 (281)
Net increase (decrease) in cash, cash equivalents and restricted cash 11,394 46,512
Cash, cash equivalents and restricted cash at beginning of period 54,823 89,601
Cash, cash equivalents and restricted cash at end of period 66,217 136,113
Supplemental disclosure of non-cash investing and financing activities:    
Accretion of preferred stock dividends $ 2,169 $ 2,671