v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (67,613) $ (81,836)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 23,487 25,820
Non-cash interest 4,649 3,843
Amortization of debt issuance cost 430 519
Losses from investments in investees 9 3
Equity-based compensation – employees and non-employees 2,616 2,590
Realized gain on disposal of fixed assets and sales of equity securities (3,786) (47)
Change in fair value of equity securities and derivative instruments 2,380 1,251
Loss on conversion convertible senior notes 0 757
Deferred income tax benefit (7,424) (2,680)
Changes in assets and liabilities:    
Accounts receivable, net 22,930 9,518
Inventory, net (5,437) 2,274
Other current assets and prepaid expenses 2,735 (552)
Other assets (967) 7
Accounts payable 11,475 2,789
Foreign currency measurement (641) 1,225
Accrued expenses and other liabilities (19,397) (1,047)
Net cash used in operating activities (34,554) (35,566)
Cash flows from investing activities:    
Investments in investees (8,000) 0
Proceeds from sale of equity securities 51,655 0
Proceeds from the sale of property, plant and equipment 67 48
Capital expenditures (3,194) (4,443)
Net cash provided by (used in) investing activities 40,528 (4,395)
Cash flows from financing activities:    
Issuance of 3.00% convertible senior notes, net (including related parties) 0 230,000
Debt issuance costs 0 (8,562)
Share repurchase 0 (50,000)
Proceeds from the exercise of common stock options 88 0
Borrowings on lines of credit 5,610 163,703
Repayments of lines of credit (9,546) (168,241)
Redemption of 2025 Notes and 2033 Senior Notes (174) (146,287)
Net cash (used in) provided by financing activities (4,022) 20,613
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,110 (894)
Net increase in cash, cash equivalents and restricted cash 4,062 (20,242)
Cash, cash equivalents and restricted cash at beginning of period 445,615 95,881
Cash, cash equivalents and restricted cash at end of period 449,677 75,639
SUPPLEMENTAL INFORMATION:    
Interest paid 13,762 3,125
Income taxes paid, net of refunds $ 2,059 $ 1,063

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