Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net loss $ (104,285,000) $ (120,283,000) $ (123,074,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Impairment of other long-lived assets 0 0 4,443,000
Depreciation and amortization 43,174,000 45,338,000 48,973,000
Stock-based compensation 24,274,000 25,618,000 31,614,000
Foreign currency transaction loss (gain) (9,085,000) 3,417,000 636,000
Loss on Sale of Investments 0 4,760,000 0
Share in net (profits) losses of associated companies 39,100,000 33,325,000 32,705,000
Revaluation of investments 4,256,000 7,994,000 5,665,000
Revaluation of contingent consideration 1,031,000 (4,897,000) (21,408,000)
Deferred income taxes, net and uncertain tax positions 1,239,000 1,287,000 (1,764,000)
Other non-cash items, net 4,880,000 1,347,000 1,089,000
Change in cash attributable to changes in operating assets and liabilities:      
Accounts receivable, net (17,970,000) 4,456,000 (25,653,000)
Inventories 35,351,000 9,356,000 4,571,000
Other current assets and prepaid expenses (718,000) 3,021,000 1,553,000
Other non-current assets 8,664,000 8,647,000 11,047,000
Accounts payable (5,331,000) (3,677,000) (27,445,000)
Other current liabilities (5,438,000) 7,022,000 4,228,000
Deferred revenues 37,000 (10,003,000) 408,000
Other non-current liabilities (4,035,000) (8,902,000) (9,233,000)
Net cash provided by (used in) operating activities 15,144,000 7,826,000 (61,645,000)
Cash flows from investing activities      
Cash paid for business combinations, net of cash acquired (6,071,000) 0 (72,118,000)
Purchase of property and equipment (22,113,000) (10,874,000) (13,551,000)
Investments in short-term bank deposits (273,500,000) (170,500,000) (111,448,000)
Proceeds from short-term bank deposits 204,000,000 170,000,000 208,815,000
Investments in non-marketable equity securities (8,539,000) (8,845,000) (12,443,000)
Purchase of intangible assets (4,943,000) (1,840,000) (1,476,000)
Proceeds from Sale of Long-Term Investments 0 7,190,000 0
Other investing activities (1,065,000) 49,000 (1,613,000)
Net cash used in investing activities (112,231,000) (14,820,000) (3,834,000)
Cash flows from financing activities      
Proceeds from public offering, net of issuance costs 0 (1,995,000) 0
Proceeds from exercise of stock options 0 154,000 11,000
Payment of contingent consideration (1,115,000) (1,012,000) (1,339,000)
Proceeds from PIPE transaction, net of issuance costs 119,291,000 0 0
Other financing activities (204,000) (461,000) (188,000)
Net cash provided by (used in) financing activities 117,972,000 (3,314,000) (1,516,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,395,000 (1,480,000) (827,000)
Net change in cash, cash equivalents and restricted cash 24,280,000 (11,788,000) (67,822,000)
Cash, cash equivalents and restricted cash, beginning of year 71,076,000 82,864,000 150,686,000
Cash, cash equivalents and restricted cash, end of year 95,356,000 71,076,000 82,864,000
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets:      
Cash and cash equivalents 94,527,000 70,200,000 82,585,000
Restricted cash included in other current assets 829,000 876,000 279,000
Total cash, cash equivalents and restricted cash shown in the statement of cash flows 95,356,000 71,076,000 82,864,000
Supplemental disclosure of cash flow information      
Income taxes, net of tax refunds 2,846,000 2,300,000 2,200,000
Non-cash investing and financing activities:      
Transfer of inventories to fixed assets 3,884,000 3,448,000 9,551,000
Transfer of fixed assets to inventories 22,000 4,829,000 222,000
Contingent consideration 0 0 2,472,000
Right-of-use assets obtained in exchange for new operating lease liabilities 2,936,000 20,808,000 7,142,000
Issuance of Common stock under employee stock purchase plan 5,165,000 5,610,000 5,915,000
Issuance of shares as part of Origin acquisition (Refer to Note 2) 495,000 $ 0 $ 5,202,000
Noncash or Part Noncash Acquisition, Value of Assets Acquired $ 3,135,000