v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (49,408) $ (22,114)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 8,395 6,680
Amortization of intangibles 8,490 2,458
Non-cash stock-based compensation 12,103 2,653
Non-cash operating lease expense 2,653 1,862
Amortization of convertible debt discount 661 593
Amortization of debt issue costs 45 43
Unrealized loss on investment in non-consolidated affiliate 0 5,024
Interest receivable on loan receivable from non-consolidated affiliate 0 (209)
Gain on sale of assets held for sale (2,048) 0
Write-off of COVID-19 PCR testing inventory and equipment 0 6,061
Other adjustments 1,126 548
Changes in assets and liabilities, net    
Accounts receivable, net 1,334 3,921
Inventories (445) 2,845
Prepaid lease asset 0 (823)
Prepaid and other assets (2,044) (794)
Accounts payable, operating lease liabilities, deferred taxes, accrued and other liabilities (9,902) (6,538)
Net cash (used in) provided by operating activities (29,040) 2,210
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of marketable securities (16,167) (137,776)
Proceeds from sales and maturities of marketable securities 36,438 13,919
Purchases of property and equipment (8,219) (15,831)
Loan receivable from non-consolidated affiliate 0 (15,000)
Net cash provided by (used in) investing activities 12,052 (154,688)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of equipment financing obligations (346) (1,091)
Issuance of common stock, net 6,403 2,617
Proceeds from issuance of convertible debt, net of issuance costs 0 334,410
Premiums paid for capped call confirmations 0 (29,291)
Proceeds from equity offering, net of issuance costs 0 218,290
Net cash provided by financing activities 6,057 524,935
Net change in cash, cash equivalents and restricted cash (10,931) 372,457
Cash, cash equivalents and restricted cash, beginning of period 316,827 250,632
Cash, cash equivalents and restricted cash, end of period 305,896 623,089
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:    
Cash and cash equivalents 305,896 611,970
Restricted cash 0 11,119
Total cash, cash equivalents and restricted cash 305,896 623,089
Supplemental disclosure of cash flow information:    
Interest paid 442 41
Income taxes (refunded) paid, net 0 (49)
Supplemental disclosure of non-cash investing and financing information:    
Increase in other current assets for the sale of assets held for sale 12,098 0
Purchases of property and equipment included in accounts payable $ 1,061 $ 2,081

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