Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.25.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Net revenue $ 126,459 $ 81,102 $ 331,205 $ 268,361
Cost of net revenue 54,558 37,022 143,948 124,827
Gross profit 71,901 44,080 187,257 143,534
Operating expenses:        
Research and development 54,252 52,604 156,908 173,911
Selling, general and administrative 47,674 30,154 117,624 100,242
Impairment losses 0 1,237 0 1,237
Restructuring charges 11,264 26,828 24,723 50,323
Total operating expenses 113,190 110,823 299,255 325,713
Loss from operations (41,289) (66,743) (111,998) (182,179)
Interest income 874 1,653 2,550 5,346
Interest expense (2,649) (2,655) (7,665) (8,072)
Other income (expense), net (324) (14,753) (5,978) (12,990)
Total other income (expense), net (2,099) (15,755) (11,093) (15,716)
Loss before income taxes (43,388) (82,498) (123,091) (197,895)
Income tax provision (benefit) 2,097 (6,713) (1,307) (10,535)
Net loss $ (45,485) $ (75,785) $ (121,784) $ (187,360)
Net loss per share:        
Basic (in usd per share) $ (0.52) $ (0.90) $ (1.41) $ (2.25)
Diluted (in usd per share) $ (0.52) $ (0.90) $ (1.41) $ (2.25)
Shares used to compute net loss per share:        
Basic (in shares) 87,186 84,074 86,368 83,303
Diluted (in shares) 87,186 84,074 86,368 83,303