v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (216,054) $ (92,141)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 46,514 49,974
Non-cash interest 61,557 8,138
Amortization of deferred financing costs 4,959 946
Losses from investments in investees 9 3
Equity-based compensation – employees and non-employees 4,828 5,199
Realized gain on disposal of fixed assets and sales of equity securities (3,858) (69)
Change in fair value of equity securities and derivative instruments 1,734 (59,248)
Inducement expense and loss on debt conversion 32,647 757
Deferred income tax benefit (23,137) (4,477)
Changes in assets and liabilities:    
Accounts receivable, net 19,115 15,353
Inventory, net (5,915) 1,732
Other current assets and prepaid expenses (2,318) (7,817)
Other assets (510) (116)
Accounts payable 8,087 13,688
Foreign currency measurement (1,989) 2,638
Accrued expenses and other liabilities (43,643) 3,439
Net cash used in operating activities (117,974) (62,001)
Cash flows from investing activities:    
Investments in investees (7,665) 0
Proceeds from sale of equity securities 51,655 0
Proceeds from the sale of property, plant and equipment 181 103
Capital expenditures (6,477) (11,660)
Net cash provided by (used in) investing activities 37,694 (11,557)
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 (18,255) (50,000)
Proceeds from the exercise of common stock options (123) (208)
Borrowings on lines of credit 16,636 317,811
Repayments of lines of credit (19,387) (324,256)
Settlement of convertible notes (62,382) (146,287)
Net cash (used in) provided by financing activities (83,511) 18,498
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,571 (245)
Net decrease in cash, cash equivalents and restricted cash (160,220) (55,305)
Cash, cash equivalents and restricted cash at beginning of period 445,615 95,881
Cash, cash equivalents and restricted cash at end of period 285,395 40,576
SUPPLEMENTAL INFORMATION:    
Interest paid 20,067 3,517
Income taxes paid, net of refunds 19,861 1,576
Non-cash financing:    
Common stock options, warrants, and restricted stock units surrendered in net exercise $ 213 $ 208

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