Joby Aviation, Inc.(NYSE:JOBY) 
Joby Aviation, Inc. engages in the research and development of electric vertical take-off and landing aircrafts. The company was founded in 209 and is headquartered in Santa Cruz, California.
Website: http://www.jobyaviation.com
Founded: 2009
Full Time Employees: 1,124 (Feb 2022)
CEO / Founder: JoeBen Bevirt
Sector: Industrials
Industry: Airports & Air Services
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At a glance:
- Certification Progress Remains the Key Near-Term Catalyst: Joby’s timeline and milestones with the FAA (and other regulators) continue to be the primary driver of investor expectations, as certification gates determine when commercial passenger operations can begin.
- Pre-Revenue Profile with Cash Burn and Liquidity as Core Focus: As a company still in the development and pre-commercialization phase, Joby’s financial narrative centers on operating losses, cash burn, and available liquidity to fund engineering, testing, and manufacturing ramp plans.
- Manufacturing Scale-Up Execution is a Major Risk and Value Driver: Transitioning from prototype/testing to repeatable production requires supply-chain readiness, quality systems, and capex discipline; progress on building scalable manufacturing capacity is critical to unit economics and delivery targets.
- Go-to-Market Strategy Hinges on Vertiport and Partner Ecosystem Buildout: Commercial launch depends on infrastructure, operational approvals, and partnerships (e.g., airports, operators, mobility platforms); the pace of ecosystem development can influence route rollout and utilization assumptions.
- Competitive Landscape and Technology Differentiation Continue to Matter: Joby’s performance claims, safety case, and operating cost assumptions will be weighed against other eVTOL developers and alternative mobility options, shaping long-term market share and pricing power.
Bull Thesis:
- Leading Certification Progress & First-Mover Advantage: Joby Aviation is at the forefront of FAA certification for its eVTOL aircraft, positioning it as a potential first-mover in the U.S. urban air mobility market. Achieving Part 135 certification and progressing through the Type Certification process significantly de-risks future commercial operations and creates a substantial competitive barrier.
- Strong Strategic Partnerships & Funding: Joby benefits from robust partnerships with industry giants like Toyota (manufacturing expertise), Delta Air Lines (customer experience, potential distribution), and the U.S. Air Force (early revenue, testing, and operational experience through Agility Prime). These collaborations provide capital, technical know-how, and a credible path to market adoption.
- Proprietary Technology & Integrated Approach: The company possesses a unique, proprietary aircraft design optimized for low noise and efficiency, which is crucial for urban operations. Furthermore, Joby's integrated strategy encompassing design, manufacturing, and future operations (as an air taxi service) allows for greater control over the entire value chain and potential cost efficiencies.
- Massive Untapped Market Potential: The urban air mobility (UAM) market is projected to be a multi-billion dollar industry, addressing significant pain points in urban congestion and travel time. As a leader in this nascent sector, Joby is well-positioned to capture a substantial share of this rapidly emerging market once commercial operations scale.
Bear Thesis:
- Significant Regulatory & Commercialization Risks: Despite progress, final FAA Type Certification and scaling commercial operations face substantial regulatory hurdles, potential delays, and unforeseen challenges. The path to widespread commercialization is unprecedented, and any setbacks could significantly impact timelines and financial projections.
- High Capital Requirements & Persistent Cash Burn: Developing, certifying, manufacturing, and operating an eVTOL fleet requires immense capital investment. Joby is expected to incur significant operating losses and negative free cash flow for the foreseeable future, necessitating ongoing fundraising or debt, which could dilute shareholders or increase financial risk.
- Intense Competition & Market Fragmentation: The eVTOL market is attracting numerous well-funded competitors (e.g., Archer, Lilium, Volocopter, Vertical Aerospace), many backed by major aerospace or automotive players. This intense competition could lead to price wars, slower market penetration, or a fragmented market where profitability is difficult to achieve.
- Infrastructure & Public Acceptance Challenges: Building the necessary vertiport infrastructure, charging networks, and air traffic management systems for widespread UAM operations is a massive and costly undertaking. Additionally, gaining widespread public acceptance regarding safety, noise levels, and perceived affordability remains a significant hurdle that could limit adoption.
Main Competitors:
- Archer Aviation Inc. ($ACHR) (Midnight eVTOL aircraft), Archer is a direct competitor developing its own eVTOL aircraft, 'Midnight,' for urban air mobility. They are also pursuing FAA certification and have strategic partnerships (e.g., with United Airlines) to operate their aircraft for air taxi services, directly vying for the same market share, regulatory approvals, and operational routes as Joby.
- Lilium N.V. ($LILM) (Lilium Jet eVTOL aircraft), Lilium is a European-based eVTOL developer focusing on regional air mobility with its unique ducted fan 'Lilium Jet.' They compete for regulatory certification (EASA primarily, but also FAA), manufacturing capabilities, and the establishment of air taxi networks, particularly in Europe and potentially globally, with a focus on longer-range missions.
- Vertical Aerospace Ltd. ($EVTL) (VX4 eVTOL aircraft), Vertical Aerospace, based in the UK, is developing the VX4 eVTOL aircraft. While their business model leans more towards selling their aircraft to airlines and tour operators rather than operating them directly, they are still competing for the same underlying technology, supply chain, regulatory approvals, and ultimately, the market for eVTOL aircraft.
- Wisk Aero (Cora / Generation 6 eVTOL aircraft), Wisk Aero, a subsidiary of Boeing, is developing fully autonomous eVTOL aircraft. While Joby focuses on piloted operations initially, Wisk's long-term vision for autonomous flight represents a significant competitive threat and a different technological pathway, potentially offering lower operational costs in the future. They compete for talent, technology, and future market share in the broader urban air mobility space.
Moat:
Joby Aviation's competitive moat is built on its integrated approach, aiming to design, manufacture, and operate its own eVTOL aircraft, coupled with significant progress in FAA certification and strategic partnerships with industry leaders like Toyota (manufacturing) and Delta Air Lines (commercial operations). However, the urban air mobility market is highly competitive and capital-intensive, with numerous well-funded players globally. Competitors vie for regulatory approvals, technological advancements (e.g., battery density, noise reduction, autonomy), manufacturing capabilities, and the establishment of operational networks. The industry also faces challenges in public acceptance, infrastructure development, and the inherent risks of pioneering a new mode of transportation.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 24,246,000 | 22,574,000 | |||||||||||||||||
yoy | |||||||||||||||||||
qoq | 7.41% | ||||||||||||||||||
operating expenses: | |||||||||||||||||||
cost of revenue | 18,803,000 | 10,060,000 | |||||||||||||||||
research and development | 177,470,000 | 149,163,000 | 136,387,000 | 134,287,000 | 122,385,000 | 126,139,000 | 112,996,000 | 115,636,000 | 102,123,000 | 100,559,000 | 88,849,000 | 75,518,000 | 76,135,000 | 73,870,000 | 72,071,000 | 57,258,000 | 52,092,000 | ||
selling, general and administrative | 61,553,000 | 45,018,000 | 31,482,000 | 28,997,000 | 27,523,000 | 30,569,000 | 31,304,000 | 30,271,000 | 26,951,000 | 27,608,000 | 27,120,000 | 24,198,000 | 25,222,000 | 23,251,000 | 25,177,000 | 22,272,000 | 19,934,000 | 15,607,000 | |
total operating expenses | 257,826,000 | 204,241,000 | 167,879,000 | 163,284,000 | 149,930,000 | 156,723,000 | 144,315,000 | 145,922,000 | 129,274,000 | 128,167,000 | 115,969,000 | 99,716,000 | 101,357,000 | 97,121,000 | 99,382,000 | 94,343,000 | 77,192,000 | 67,699,000 | |
income from operations | -233,580,000 | -181,667,000 | -167,864,000 | -163,284,000 | -149,875,000 | -156,695,000 | -144,287,000 | -145,897,000 | -128,242,000 | -128,167,000 | -115,969,000 | -99,716,000 | -101,357,000 | -97,121,000 | -99,382,000 | -94,343,000 | -77,192,000 | -67,699,000 | -1,002,670 |
yoy | 55.85% | 15.94% | 16.34% | 11.92% | 16.87% | 22.26% | 24.42% | 46.31% | 26.53% | 31.97% | 16.69% | 5.70% | 31.31% | 43.46% | 9811.74% | ||||
qoq | 28.58% | 8.22% | 2.80% | 8.95% | -4.35% | 8.60% | -1.10% | 13.77% | 0.06% | 10.52% | 16.30% | -1.62% | 4.36% | -2.28% | 5.34% | 22.22% | 14.02% | 6651.87% | |
operating margin % | -963.38% | -804.76% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
interest and other income | 17,784,000 | 9,673,000 | 9,849,000 | 9,898,000 | 9,784,000 | 9,528,000 | 11,191,000 | 12,319,000 | 12,867,000 | 13,611,000 | 10,683,000 | 8,400,000 | 8,139,000 | 5,395,000 | 2,583,000 | 788,000 | 276,000 | 163,000 | |
gain from change in fair value of warrants, earnout shares and contingent consideration | 106,014,000 | ||||||||||||||||||
total other income | 123,798,000 | -219,476,000 | -156,704,000 | 80,918,000 | -96,872,000 | 13,370,000 | 21,005,000 | 51,346,000 | 13,160,000 | 129,720,000 | -170,054,000 | -13,643,000 | 34,470,000 | 17,920,000 | 49,833,000 | 32,029,000 | 71,691,000 | -11,159,000 | 1,829,284 |
income before income taxes | -109,782,000 | -401,143,000 | -324,568,000 | -82,366,000 | -246,747,000 | -143,325,000 | -123,282,000 | -94,551,000 | -115,082,000 | 1,553,000 | -286,023,000 | -113,359,000 | -66,887,000 | -79,201,000 | -49,549,000 | -62,314,000 | -5,501,000 | -78,858,000 | |
income tax expense | 168,000 | 83,000 | 106,000 | 40,000 | -470,000 | 553,000 | 10,000 | 36,000 | 21,000 | 28,000 | 56,000 | 34,000 | 57,000 | 5,000 | 25,000 | 5,000 | -10,546,000 | ||
net income | -109,950,000 | -401,226,000 | -324,674,000 | -82,406,000 | -246,277,000 | -143,878,000 | -123,292,000 | -94,587,000 | -115,103,000 | 1,525,000 | -286,079,000 | -113,393,000 | -66,944,000 | -79,206,000 | -49,574,000 | -62,319,000 | 5,045,000 | -78,858,000 | 826,614 |
yoy | -55.36% | 178.87% | 163.34% | -12.88% | 113.96% | -9534.62% | -56.90% | -16.58% | 71.94% | -101.93% | 477.07% | 81.96% | -1426.94% | 0.44% | -6097.24% | ||||
qoq | -72.60% | 23.58% | 293.99% | -66.54% | 71.17% | 16.70% | 30.35% | -17.82% | -7647.74% | -100.53% | 152.29% | 69.38% | -15.48% | 59.77% | -20.45% | -1335.26% | -106.40% | -9639.88% | |
net income margin % | -453.48% | -1777.38% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | Infinity% |
net income per share | -0.12 | -0.48 | -0.41 | -0.11 | -0.34 | -0.21 | -0.18 | -0.14 | -0.17 | -0.45 | -0.19 | -0.11 | -0.14 | -0.09 | -0.11 | 0.3 | -0.2 | ||
weighted-average common shares outstanding, basic and diluted | 943,503,442 | 699,794,747 | 647,907,598 | 585,544,043 | 294,851,732 | ||||||||||||||
loss on common stock issuance in private placement | -40,258,000 | ||||||||||||||||||
gain from change in fair value of warrants and earnout shares | -229,149,000 | -126,295,000 | 71,020,000 | -106,656,000 | 3,842,000 | 9,814,000 | 39,027,000 | 293,000 | 116,109,000 | -180,737,000 | -22,043,000 | 25,930,000 | 12,560,000 | 42,698,000 | 16,814,000 | ||||
weighted-average common stock outstanding, basic and diluted | 844,551,006 | 796,798,437 | 766,908,858 | 689,324,227 | 681,749,388 | 636,679,165 | 605,184,671 | 583,970,409 | 581,265,924 | 579,090,606 | 385,560,732 | ||||||||
revenue: | |||||||||||||||||||
flight services | 15,000 | 55,000 | 28,000 | 28,000 | 25,000 | ||||||||||||||
weighted-average common stock outstanding,: | |||||||||||||||||||
basic | 695,011,457 | 672,559,810 | |||||||||||||||||
diluted | 695,011,457 | 691,455,162 | |||||||||||||||||
income from equity method investment | 424,000 | 4,581,000 | 14,458,000 | 10,183,000 | 10,331,000 | ||||||||||||||
weighted-average common stock outstanding: | |||||||||||||||||||
basic | 695,011,457 | 672,559,810 | |||||||||||||||||
diluted | 695,011,457 | 691,455,162 | |||||||||||||||||
interest expense | -23,000 | -35,000 | -29,000 | -31,000 | -38,000 | -484,000 | |||||||||||||
transaction expenses related to merger | -72,000 | -9,015,000 | |||||||||||||||||
convertible notes extinguishment loss | -166,250 | -665,000 | |||||||||||||||||
research and development (including related party purchases of 583 and 464 for the three months ended june 30, 2022 and 2021, respectively, 1,227 and 976 for the six months ended june 30, 2022 and 2021, respectively. | 74,205,000 | ||||||||||||||||||
gain on disposal of subsidiary | |||||||||||||||||||
loss from changes in fair value of derivative liability | -2,872,250 | -11,489,000 | |||||||||||||||||
general and administrative expenses | 1,002,670 | ||||||||||||||||||
other income | |||||||||||||||||||
unrealized gain on investments held in trust account | 24,664 | ||||||||||||||||||
change in fair value of derivative warrant liabilities | 1,804,620 | ||||||||||||||||||
basic and diluted weighted-average shares outstanding of class a ordinary shares | 69,000,000 | ||||||||||||||||||
basic and diluted net income per ordinary share, class a | |||||||||||||||||||
basic and diluted weighted-average shares outstanding of class b ordinary shares | 17,250,000 | ||||||||||||||||||
basic and diluted net income per ordinary share, class b | 0.05 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 874,524,000 | 208,367,000 | 336,313,000 | 122,290,000 | 199,627,000 | 152,292,000 | 175,100,000 | 110,548,000 | 204,017,000 | 480,371,000 | 382,673,000 | 49,795,000 | 146,101,000 | 193,844,000 | 311,089,000 | 417,116,000 | 955,563,000 | 1,016,496,000 | ||
short-term investments | 1,591,665,000 | 769,755,000 | 654,671,000 | 690,234,000 | 733,224,000 | 557,692,000 | 649,933,000 | 813,340,000 | 828,233,000 | 632,144,000 | 812,093,000 | 927,980,000 | 910,692,000 | 880,662,000 | 840,378,000 | 803,712,000 | 343,248,000 | 345,991,000 | ||
total cash, cash equivalents and short-term investments | 2,466,189,000 | 978,122,000 | 990,984,000 | 812,524,000 | 932,851,000 | 709,984,000 | 825,033,000 | 923,888,000 | 1,032,250,000 | 1,112,515,000 | 1,194,766,000 | 977,775,000 | 1,056,793,000 | 1,074,506,000 | 1,151,467,000 | 1,220,828,000 | 1,298,811,000 | |||
restricted cash | 166,000 | 347,000 | 693,000 | 762,000 | 762,000 | 762,000 | 762,000 | 762,000 | 2,235,000 | 3,204,000 | 3,204,000 | 3,204,000 | 1,731,000 | 762,000 | 762,000 | |||||
accounts and other receivables | 11,498,000 | 10,426,000 | ||||||||||||||||||
prepaid expenses and other current assets | 33,736,000 | 29,699,000 | 19,949,000 | 19,190,000 | 20,710,000 | 17,416,000 | 19,363,000 | 20,863,000 | 18,842,000 | 18,733,000 | 20,347,000 | 22,218,000 | 20,160,000 | 20,234,000 | 18,653,000 | 19,055,000 | 17,416,000 | 17,588,000 | ||
total current assets | 2,511,589,000 | 1,018,594,000 | 1,014,521,000 | 841,480,000 | 969,605,000 | 737,800,000 | 857,662,000 | 951,690,000 | 1,055,751,000 | 1,138,183,000 | 1,224,751,000 | 1,013,140,000 | 1,084,178,000 | 1,104,036,000 | 1,177,564,000 | 1,242,605,000 | 1,318,542,000 | 1,382,494,000 | 832,470 | 1,299,137 |
property and equipment | 211,087,000 | 140,202,000 | 134,999,000 | 129,776,000 | 120,954,000 | 111,988,000 | 105,846,000 | 103,606,000 | 103,430,000 | 100,415,000 | 92,959,000 | 93,032,000 | 92,103,000 | 62,954,000 | 61,042,000 | 57,920,000 | 53,155,000 | 43,977,000 | ||
operating lease right-of-use assets | 31,826,000 | 33,603,000 | 28,325,000 | 29,047,000 | 28,689,000 | 29,217,000 | 27,631,000 | 28,596,000 | 28,286,000 | 27,683,000 | 23,563,000 | 24,023,000 | 25,149,000 | |||||||
intangible assets | 20,360,000 | 20,986,000 | 5,690,000 | 6,909,000 | 8,127,000 | 9,561,000 | 10,975,000 | 5,013,000 | 6,585,000 | 7,992,000 | 9,562,000 | 11,085,000 | 12,581,000 | 14,198,000 | 15,896,000 | 14,529,000 | 14,512,000 | 13,818,000 | ||
goodwill | 89,383,000 | 90,394,000 | 14,322,000 | 14,322,000 | 14,322,000 | 14,322,000 | 14,322,000 | 14,011,000 | 14,011,000 | 14,011,000 | 14,011,000 | 14,011,000 | 14,011,000 | 14,011,000 | 13,717,000 | 10,757,000 | 10,757,000 | 4,880,000 | ||
other non-current assets | 62,716,000 | 61,837,000 | 61,326,000 | 61,722,000 | 61,006,000 | 60,607,000 | 60,616,000 | 60,679,000 | 60,610,000 | 60,560,000 | 61,094,000 | 62,674,000 | 64,200,000 | 65,362,000 | 67,220,000 | 68,747,000 | 70,321,000 | 65,861,000 | ||
total assets | 2,927,654,000 | 1,366,309,000 | 1,259,876,000 | 1,084,018,000 | 1,203,465,000 | 964,257,000 | 1,077,814,000 | 1,164,357,000 | 1,269,435,000 | 1,349,606,000 | 1,426,702,000 | 1,218,727,000 | 1,292,984,000 | 1,273,809,000 | 1,356,345,000 | 1,423,295,000 | 1,488,355,000 | 1,531,969,000 | 690,878,347 | 691,320,350 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 7,889,000 | 13,415,000 | 4,508,000 | 4,859,000 | 4,261,000 | 4,940,000 | 5,314,000 | 3,731,000 | 3,006,000 | 4,787,000 | 4,056,000 | 3,927,000 | 7,710,000 | 4,302,000 | 1,908,000 | 2,665,000 | 3,637,000 | 3,558,000 | 240,888 | 162,796 |
operating lease liabilities, current portion | 9,034,000 | 8,473,000 | 5,567,000 | 5,444,000 | 5,031,000 | 4,846,000 | 4,699,000 | 4,492,000 | 4,312,000 | 4,026,000 | 3,811,000 | 3,546,000 | 3,710,000 | |||||||
accrued expenses and other current liabilities | 96,956,000 | 38,842,000 | 37,818,000 | 18,783,000 | 8,791,000 | 2,418,000 | ||||||||||||||
total current liabilities | 113,879,000 | 74,857,000 | 58,897,000 | 47,499,000 | 48,134,000 | 45,766,000 | 43,157,000 | 38,240,000 | 45,136,000 | 49,967,000 | 44,093,000 | 30,317,000 | 30,203,000 | 28,802,000 | 30,010,000 | 18,163,000 | 13,848,000 | 7,603,000 | 1,116,487 | 580,484 |
operating lease liabilities, net of current portion | 25,463,000 | 27,876,000 | 25,346,000 | 26,175,000 | 26,178,000 | 26,883,000 | 25,397,000 | 26,517,000 | 26,349,000 | 25,965,000 | 21,990,000 | 22,684,000 | 23,613,000 | |||||||
long-term debt | 701,056,000 | |||||||||||||||||||
warrant liability | 29,461,000 | 139,546,000 | 108,861,000 | 61,234,000 | 95,410,000 | 42,364,000 | 40,871,000 | 46,969,000 | 62,936,000 | 64,650,000 | 113,774,000 | 37,814,000 | 28,783,000 | 24,175,000 | 31,230,000 | 47,493,000 | 44,902,000 | 64,765,000 | ||
earnout shares liability | 86,942,000 | 200,925,000 | 159,199,000 | 80,631,000 | 117,416,000 | 63,922,000 | 69,281,000 | 72,984,000 | 95,969,000 | 94,602,000 | 161,248,000 | 57,094,000 | 44,055,000 | 58,499,000 | 64,005,000 | 90,440,000 | 109,844,000 | 151,323,000 | ||
other non-current liabilities | 13,142,000 | 26,653,000 | 9,281,000 | 3,964,000 | 4,283,000 | 4,524,000 | 4,516,000 | 4,683,000 | 5,088,000 | 1,045,000 | 1,323,000 | 1,211,000 | 1,715,000 | 1,914,000 | 2,176,000 | |||||
total liabilities | 969,943,000 | 469,857,000 | 361,584,000 | 224,577,000 | 291,102,000 | 183,218,000 | 183,230,000 | 189,226,000 | 235,073,000 | 240,272,000 | 342,150,000 | 149,232,000 | 128,243,000 | 113,654,000 | 127,683,000 | 158,861,000 | 171,596,000 | 227,298,000 | 81,820,518 | 83,089,135 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized. no shares issued and outstanding. | ||||||||||||||||||||
common stock: 0.0001 par value - 2,800,000,000 shares authorized; 980,638,400 and 915,076,698 shares issued and outstanding at march 31, 2026 and december 31, 2025, respectively. | 98,000 | |||||||||||||||||||
additional paid-in capital | 4,856,330,000 | 3,559,790,000 | 3,161,578,000 | 2,798,177,000 | 2,768,605,000 | 2,389,751,000 | 2,362,128,000 | 2,318,932,000 | 2,282,475,000 | 2,244,617,000 | 2,223,049,000 | 1,923,054,000 | 1,908,179,000 | 1,837,332,000 | 1,822,235,000 | 1,805,983,000 | 1,793,431,000 | 1,786,118,000 | 27,466,918 | 28,293,519 |
accumulated deficit | -2,895,529,000 | -2,664,043,000 | -2,262,817,000 | -1,938,143,000 | -1,855,737,000 | -1,609,460,000 | -1,465,582,000 | -1,342,290,000 | -1,247,703,000 | -1,132,600,000 | -1,134,125,000 | -848,046,000 | -734,653,000 | -667,709,000 | -588,503,000 | -538,929,000 | -476,610,000 | -481,655,000 | -22,469,493 | -23,296,107 |
accumulated other comprehensive income | -3,188,000 | 677,000 | -122,000 | 148,000 | ||||||||||||||||
total stockholders’ equity | 1,957,711,000 | 896,452,000 | 898,292,000 | 859,441,000 | 912,363,000 | 781,039,000 | 894,584,000 | 975,131,000 | 1,034,362,000 | 1,109,334,000 | 1,084,552,000 | 1,069,495,000 | 1,164,741,000 | 1,160,155,000 | 1,228,662,000 | 1,264,434,000 | 1,316,759,000 | 1,304,671,000 | ||
total liabilities and stockholders’ equity | 2,927,654,000 | 1,366,309,000 | 1,259,876,000 | 1,084,018,000 | 1,203,465,000 | 964,257,000 | 1,077,814,000 | 1,164,357,000 | 1,269,435,000 | 1,349,606,000 | 1,426,702,000 | 1,218,727,000 | 1,292,984,000 | 1,273,809,000 | 1,356,345,000 | 1,423,295,000 | ||||
accrued and other current liabilities | 52,969,000 | 48,822,000 | 37,196,000 | 35,980,000 | 33,144,000 | 30,017,000 | 41,154,000 | 36,226,000 | 22,844,000 | 24,500,000 | 28,102,000 | 15,498,000 | ||||||||
common stock: 0.0001 par value - 2,800,000,000 shares authorized; 874,277,241 and 784,176,364 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively. | 87,000 | |||||||||||||||||||
accumulated other comprehensive gain | 618,000 | |||||||||||||||||||
other receivables | 3,588,000 | 9,766,000 | 16,044,000 | 10,400,000 | 13,266,000 | 6,939,000 | 4,659,000 | 6,935,000 | 9,638,000 | 10,912,000 | 4,021,000 | 6,092,000 | 4,240,000 | 2,722,000 | 2,315,000 | 2,419,000 | ||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 850,621,503 and 784,176,364 shares issued and outstanding at june 30, 2025 and december 31, 2024, respectively. | 85,000 | |||||||||||||||||||
accumulated other comprehensive loss | -554,000 | -672,000 | -583,000 | -2,033,000 | -1,581,000 | -480,000 | -2,752,000 | -4,439,000 | -5,574,000 | -8,846,000 | -9,528,000 | -5,130,000 | -2,680,000 | |||||||
other liabilities, net of current portion | 9,038,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 789,293,827 and 784,176,364 shares issued and outstanding at march 31, 2025 and december 31, 2024, respectively. | 79,000 | |||||||||||||||||||
current liabilities | ||||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at december 31, 2024 and 2023. no shares issued and outstanding at december 31, 2024 and 2023. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized at december 31, 2024 and 2023, 784,176,364 and 698,262,025 shares issued and outstanding at december 31, 2024 and 2023, respectively | 78,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 717,094,083 and 698,262,025 shares issued and outstanding at september 30, 2024 and december 31, 2023, respectively. | 71,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 713,879,586 and 698,262,025 shares issued and outstanding at june 30, 2024 and december 31, 2023, respectively. | 71,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 705,312,495 and 698,262,025 shares issued and outstanding at march 31, 2024 and december 31, 2023, respectively. | 70,000 | |||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at december 31, 2023 and 2022. no shares issued and outstanding at december 31, 2023 and 2022. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized at december 31, 2023 and 2022, 698,262,025 and 622,602,815 shares issued and outstanding at december 31, 2023 and 2022, respectively | 70,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 694,692,591 and 622,602,815 shares issued and outstanding at september 30, 2023 and december 31, 2022, respectively. | 69,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 692,560,949 and 622,602,815 shares issued and outstanding at june 30, 2023 and december 31, 2022, respectively. | 67,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized; 629,522,605 and 622,602,815 shares issued and outstanding at march 31, 2023 and december 31, 2022, respectively. | 61,000 | |||||||||||||||||||
equity method investment | 12,486,000 | 20,144,000 | 27,006,000 | 20,306,000 | 20,177,000 | |||||||||||||||
stock repurchase liability | 378,000 | 463,000 | 524,000 | 589,000 | 711,000 | 1,072,000 | ||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at december 31, 2022 and 2021. no shares issued and outstanding at december 31, 2022 and 2021. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares authorized at december 31, 2022 and 2021, 622,602,815 and 604,174,329 shares issued and outstanding at december 31, 2022 and 2021, respectively | 61,000 | |||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at september 30, 2022 and december 31, 2021. no shares issued and outstanding at september 30, 2022 and december 31, 2021. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 and 1,400,000,000 shares authorized, 609,566,379 and 604,174,329 shares issued and outstanding at september 30, 2022 and december 31, 2021, respectively. | 60,000 | |||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at june 30, 2022 and december 31, 2021. no shares issued and outstanding at june 30, 2022 and december 31, 2021. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 and 1,400,000,000 shares authorized, 607,188,444 and 604,174,329 shares issued and outstanding at june 30, 2022 and december 31, 2021, respectively. | 60,000 | |||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares authorized at march 31, 2022 and december 31, 2021. no shares issued and outstanding at march 31, 2022 and december 31, 2021. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 and 1,400,000,000 shares authorized, 605,836,369 and 604,174,329 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively. | 60,000 | |||||||||||||||||||
liabilities, redeemable convertible preferred stock, and stockholders’ equity | ||||||||||||||||||||
tenant improvement loan, current portion | 265,000 | |||||||||||||||||||
capital lease, current portion | 771,000 | 1,006,000 | ||||||||||||||||||
deferred rent, current portion | 384,000 | 362,000 | ||||||||||||||||||
tenant improvement loan, net of current portion | 682,000 | |||||||||||||||||||
capital lease, net of current portion | 672,000 | 741,000 | ||||||||||||||||||
deferred rent, net of current portion | 937,000 | 1,044,000 | ||||||||||||||||||
redeemable convertible preferred stock | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
preferred stock: 0.0001 par value - 100,000,000 shares and no shares authorized at december 31, 2021 and 2020, respectively. no shares issued and outstanding at december 31, 2021 and 2020, respectively. | ||||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 and 517,865,383 shares authorized at december 31, 2021 and 2020, 604,174,329 and 122,058,940 shares issued and outstanding at december 31, 2021 and 2020, respectively | 60,000 | |||||||||||||||||||
total liabilities, redeemable convertible preferred stock, and stockholders’ equity | 1,488,355,000 | 1,531,969,000 | ||||||||||||||||||
tenant improvements loan, current portion | 259,000 | |||||||||||||||||||
tenant improvements loan, net of current portion | 750,000 | |||||||||||||||||||
common stock: 0.0001 par value - 1,400,000,000 shares and 517,865,383 authorized at september 30, 2021 and december 31, 2020, 604,335,426 and 122,058,940 shares issued and outstanding at september 30, 2021 and december 31, 2020, respectively | 60,000 | |||||||||||||||||||
assets: | ||||||||||||||||||||
cash | 479,196 | 873,032 | ||||||||||||||||||
prepaid expenses | 353,274 | 426,105 | ||||||||||||||||||
cash and investments held in trust account | 690,045,877 | 690,021,213 | ||||||||||||||||||
liabilities and shareholders’ equity: | ||||||||||||||||||||
accrued expenses | 383,066 | 373,101 | ||||||||||||||||||
due to related party | 492,533 | 44,587 | ||||||||||||||||||
deferred legal fees | 239,161 | 239,161 | ||||||||||||||||||
deferred underwriting commissions | 24,150,000 | 24,150,000 | ||||||||||||||||||
derivative warrant liability | 56,314,870 | 58,119,490 | ||||||||||||||||||
class a ordinary shares; 60,405,782 and 56,262,473 shares subject to possible redemption at 10.00 per share at june 30, 2021 and december 31, 2020, respectively | 604,057,820 | |||||||||||||||||||
shareholders’ equity: | ||||||||||||||||||||
preference shares, 0.0001 par value... | ||||||||||||||||||||
class a ordinary shares, 0.0001 par value... | 859 | 868 | ||||||||||||||||||
class b ordinary shares, 0.0001 par value... | 1,725 | 1,725 | ||||||||||||||||||
total shareholders’ equity | 5,000,009 | 5,000,005 | ||||||||||||||||||
total liabilities and shareholders’ equity | 690,878,347 | 691,320,350 | ||||||||||||||||||
class a ordinary shares; 60,323,121 and 59,262,473 shares subject to possible redemption at 10.00 per share at march 31, 2021 and december 31, 2020, respectively | 603,231,210 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||
net loss | -109,950,000 | -401,226,000 | -324,674,000 | -82,406,000 | -246,277,000 | -143,878,000 | -123,292,000 | -94,587,000 | -115,103,000 | 1,525,000 | -286,079,000 | -113,393,000 | -66,944,000 | -79,206,000 | -49,574,000 | -62,319,000 | 5,045,000 |
reconciliation of net loss to net cash from operating activities: | |||||||||||||||||
depreciation and amortization expense | 10,988,000 | 10,210,000 | 9,753,000 | 9,132,000 | 9,477,000 | 8,903,000 | 8,685,000 | 8,507,000 | 8,141,000 | 7,827,000 | 7,458,000 | 7,067,000 | 6,573,000 | 6,349,000 | 5,861,000 | 5,212,000 | 4,476,000 |
stock-based compensation expense | 44,045,000 | 32,870,000 | 26,558,000 | 27,019,000 | 21,666,000 | 27,393,000 | 28,370,000 | 27,017,000 | 23,889,000 | 27,267,000 | 25,222,000 | 17,258,000 | 17,167,000 | 13,043,000 | 19,433,000 | 19,429,000 | 7,514,000 |
gain from change in the fair value of warrants, earnout shares and contingent consideration | -106,014,000 | ||||||||||||||||
non-cash interest expense, and amortization of debt discount and issuance costs | 685,000 | ||||||||||||||||
net accretion and amortization of investments in marketable debt securities | -1,546,000 | -6,020,000 | -3,670,000 | -4,363,000 | -960,000 | -688,000 | 774,000 | ||||||||||
changes in operating assets and liabilities | |||||||||||||||||
accounts and other receivables and prepaid expenses and other current assets | -3,990,000 | ||||||||||||||||
other non-current assets | -1,090,000 | -386,000 | 1,246,000 | -1,073,000 | 238,000 | -1,578,000 | 1,029,000 | -234,000 | -592,000 | -3,579,000 | 1,851,000 | 2,629,000 | -11,836,000 | 9,516,000 | 13,004,000 | 9,332,000 | 20,336,000 |
accounts payable and accrued expenses and other current liabilities | 50,217,000 | ||||||||||||||||
non-current liabilities | -27,784,000 | -209,000 | -1,236,000 | 2,350,000 | -705,000 | 1,486,000 | -1,120,000 | 168,000 | 384,000 | 3,975,000 | -694,000 | -929,000 | |||||
net cash from operating activities | -144,439,000 | -139,193,000 | -106,563,000 | -110,970,000 | -120,498,000 | -110,298,000 | -98,836,000 | -106,635,000 | -83,343,000 | -80,176,000 | -71,744,000 | -78,568,000 | -53,107,000 | -68,307,000 | -53,085,000 | -61,426,000 | -48,743,000 |
capital expenditures | -77,920,000 | -13,020,000 | -12,137,000 | -14,952,000 | -15,420,000 | -9,858,000 | -8,454,000 | -6,885,000 | -7,867,000 | -8,590,000 | -5,384,000 | -8,756,000 | -30,478,000 | -5,380,000 | -8,199,000 | -10,833,000 | -11,646,000 |
free cash flows | -222,359,000 | -152,213,000 | -118,700,000 | -125,922,000 | -135,918,000 | -120,156,000 | -107,290,000 | -113,520,000 | -91,210,000 | -88,766,000 | -77,128,000 | -87,324,000 | -83,585,000 | -73,687,000 | -61,284,000 | -72,259,000 | -60,389,000 |
cash flows from investing activities | |||||||||||||||||
purchases of marketable securities | -555,796,000 | -308,803,000 | -158,571,000 | -126,857,000 | -138,542,000 | -9,898,000 | -160,033,000 | -153,110,000 | |||||||||
proceeds from sales and maturities of marketable securities | 128,190,000 | 196,882,000 | 195,274,000 | 173,399,000 | 122,093,000 | 236,523,000 | 176,995,000 | 179,546,000 | 187,317,000 | 339,606,000 | 277,884,000 | 116,072,000 | |||||
purchases of property and equipment | -77,920,000 | -13,020,000 | -12,137,000 | -14,952,000 | -15,420,000 | -9,858,000 | -8,454,000 | -6,885,000 | -7,867,000 | -8,590,000 | -5,384,000 | -8,756,000 | -30,478,000 | -5,380,000 | -8,199,000 | -10,833,000 | -11,646,000 |
acquisitions, net of cash | 39,000 | ||||||||||||||||
net cash from investing activities | -505,487,000 | -123,058,000 | 24,566,000 | 31,590,000 | -188,631,000 | 88,123,000 | 158,643,000 | 12,628,000 | -196,399,000 | 177,906,000 | 117,926,000 | -19,129,000 | -54,817,000 | -49,131,000 | -50,709,000 | -476,132,000 | -11,427,000 |
cash flows from financing activities | |||||||||||||||||
underwritten public offering gross proceeds | 600,000,000 | ||||||||||||||||
underwritten public offering commission and offering expenses | -23,664,000 | ||||||||||||||||
gross proceeds from issuance of convertible notes | 690,000,000 | ||||||||||||||||
convertible notes underwriting discounts and commissions and issuance costs | -20,211,000 | ||||||||||||||||
proceeds from mortgage loan | 30,750,000 | ||||||||||||||||
proceeds from the exercise of stock options and warrants issuance | 70,541,000 | 421,000 | 543,000 | 167,000 | 201,000 | 281,000 | 1,010,000 | 338,000 | 371,000 | 422,000 | 317,000 | 427,000 | |||||
payment for capped call transactions | -63,273,000 | ||||||||||||||||
at-the-market public offering gross proceeds | 104,182,000 | 42,455,000 | 2,074,000 | ||||||||||||||
at-the-market public offering commission and offering expenses | -3,272,000 | -1,486,000 | -81,000 | ||||||||||||||
repayments of obligations under finance lease and tenant improvement loan | -557,000 | ||||||||||||||||
net cash from financing activities | 1,283,586,000 | 134,652,000 | 295,951,000 | 2,043,000 | 356,464,000 | -633,000 | 4,745,000 | 538,000 | 3,388,000 | -32,000 | 284,461,000 | 422,000 | 60,181,000 | 193,000 | 2,000 | 80,000 | -763,000 |
net change in cash, cash equivalents and restricted cash | 633,660,000 | -127,599,000 | 213,954,000 | -77,337,000 | 47,335,000 | -22,808,000 | 64,552,000 | -93,469,000 | -276,354,000 | 97,698,000 | 330,643,000 | -97,275,000 | -47,743,000 | -117,245,000 | -103,792,000 | -537,478,000 | -60,933,000 |
cash, cash equivalents and restricted cash, at the beginning of the period | 241,723,000 | 0 | 0 | 200,389,000 | 0 | 0 | 204,779,000 | 0 | 0 | 150,067,000 | 0 | 0 | 956,325,000 | ||||
cash, cash equivalents and restricted cash, at the end of the period | 875,383,000 | -127,599,000 | 213,954,000 | 123,052,000 | -22,808,000 | 64,552,000 | 111,310,000 | 97,698,000 | 330,643,000 | 52,792,000 | -117,245,000 | -103,792,000 | 418,847,000 | ||||
reconciliation of cash, cash equivalents and restricted cash in balance sheets | |||||||||||||||||
cash and cash equivalents | 874,524,000 | -127,946,000 | 214,023,000 | 122,290,000 | 47,335,000 | -22,808,000 | 64,552,000 | 110,548,000 | -276,354,000 | 97,698,000 | 332,878,000 | 49,795,000 | -47,743,000 | -117,245,000 | -106,027,000 | 417,116,000 | -60,933,000 |
restricted cash | 859,000 | 347,000 | -69,000 | 762,000 | 0 | 0 | 0 | 762,000 | 0 | 0 | -2,235,000 | 2,997,000 | 0 | 0 | 2,235,000 | 1,731,000 | 0 |
cash, cash equivalents and restricted cash in balance sheets | 875,383,000 | ||||||||||||||||
non-cash investing and financing activities | |||||||||||||||||
unpaid property and equipment purchases | 2,432,000 | -672,000 | 782,000 | 4,678,000 | 2,225,000 | 2,132,000 | 314,000 | 1,865,000 | 558,000 | 40,000 | -186,000 | 1,357,000 | 2,069,000 | 1,248,000 | -190,000 | 426,000 | 33,000 |
property and equipment purchased through financing leases | 2,972,000 | ||||||||||||||||
right of use assets acquired through operating leases | 2,209,000 | 1,863,000 | 430,000 | 1,560,000 | 2,783,000 | 151,000 | 1,399,000 | ||||||||||
loss from change in the fair value of warrants and earnout shares | 229,148,000 | 106,656,000 | -3,842,000 | -9,814,000 | -39,027,000 | -293,000 | -116,109,000 | 180,710,000 | 22,070,000 | ||||||||
loss on common stock issuance in private placement | 0 | ||||||||||||||||
net accretion of investments in marketable debt securities | -2,160,000 | -1,434,000 | -3,698,000 | -3,483,000 | -3,980,000 | -5,492,000 | |||||||||||
other receivables and prepaid expenses and other current assets | -4,405,000 | 6,080,000 | 7,263,000 | -9,194,000 | 4,970,000 | -3,349,000 | -4,230,000 | 1,667,000 | 3,689,000 | 2,588,000 | -8,517,000 | 1,101,000 | -3,436,000 | 94,000 | 418,000 | -580,000 | |
accounts payable and accrued and other current liabilities | -3,035,000 | 10,590,000 | 1,463,000 | -269,000 | 4,635,000 | 1,243,000 | |||||||||||
proceeds from issuance of common stock in private placement | 0 | 87,000 | -173,000 | 280,146,000 | 50,000 | ||||||||||||
proceeds from the issuance of common stock under the employee stock purchase plan | 0 | 6,258,000 | 0 | 3,117,000 | 0 | ||||||||||||
proceeds from the exercise of warrants | |||||||||||||||||
proceeds from exercise of stock options and stock purchase rights | |||||||||||||||||
repayments of tenant improvement loan and obligations under finance lease | -336,000 | -366,000 | -493,000 | -651,000 | -834,000 | -478,000 | -472,000 | -154,000 | -230,000 | ||||||||
reconciliation of cash, cash equivalents and restricted cash to balance sheets | |||||||||||||||||
cash, cash equivalents and restricted cash | -127,599,000 | 213,954,000 | 123,052,000 | -22,808,000 | 64,552,000 | 111,310,000 | 97,698,000 | 330,643,000 | 52,792,000 | -117,245,000 | -103,792,000 | 418,847,000 | |||||
acquisitions in exchange for stock issuance | |||||||||||||||||
property and equipment purchased through finance leases | 0 | 747,000 | 2,918,000 | 1,172,000 | 516,000 | 849,000 | |||||||||||
net assets acquired in exchange for stock issuance | |||||||||||||||||
gain from change in the fair value of warrants and earnout shares | -71,020,000 | -42,698,000 | -16,814,000 | ||||||||||||||
income from equity method investment | -424,000 | 0 | -4,581,000 | -14,458,000 | |||||||||||||
accounts payable and accrued and other liabilities | 4,328,000 | -23,000 | 3,220,000 | -1,083,000 | 8,873,000 | -1,053,000 | 6,064,000 | -3,000,000 | 6,873,000 | ||||||||
purchase of marketable securities | -126,445,000 | -137,839,000 | -353,857,000 | -295,367,000 | -571,890,000 | -64,712,000 | |||||||||||
cash, cash equivalents and restricted cash, at the beginning of the year | |||||||||||||||||
cash, cash equivalents and restricted cash, at the end of the year | |||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||||||||||||||||
cash, cash equivalents and restricted cash in consolidated balance sheets | -60,933,000 | ||||||||||||||||
right-of-use assets acquired through operating leases | |||||||||||||||||
net non-cash assets acquired | |||||||||||||||||
net assets acquired | |||||||||||||||||
liability settled on sale of fixed asset | |||||||||||||||||
non-cash interest expense and amortization of debt costs | |||||||||||||||||
other non-cash compensation expense | -729,000 | ||||||||||||||||
loss from transaction costs related to merger | 72,000 | ||||||||||||||||
write-off of in-process research and development project | 0 | ||||||||||||||||
deferred income taxes | |||||||||||||||||
proceeds from merger | 0 | ||||||||||||||||
payments for offering costs | -674,000 | ||||||||||||||||
proceeds from issuance of convertible notes and convertible preferred stock | |||||||||||||||||
property and equipment purchased through finacing leases | |||||||||||||||||
uber elevate acquisition in exchange for series c redeemable convertible preferred stock | |||||||||||||||||
conversion of uber note payable to series c preferred stock | |||||||||||||||||
conversion of preferred stock | 691,000 | ||||||||||||||||
net non-cash assets acquired in merger | 40,000 | ||||||||||||||||
acquisition, net of cash | 0 | -4,242,000 | -1,465,000 | ||||||||||||||
proceeds from the exercise of stock options | 612,000 | ||||||||||||||||
repayments of tenant improvement loan and obligations under finance and capital lease | -240,000 | ||||||||||||||||
property and equipment purchased through capital leases | 0 | 0 | 252,000 | 0 | |||||||||||||
proceeds from issuance of common stock and warrants | |||||||||||||||||
repayments of tenant improvement loan and obligations under finance and capital leases | |||||||||||||||||
property and equipment purchased through finance and capital leases | |||||||||||||||||
deconsolidation of net liabilities of fully owned subsidiary due to loss of control | |||||||||||||||||
proceeds from sales of marketable securities | 15,300,000 | 10,721,000 | 34,506,000 | 5,309,000 | |||||||||||||
proceeds from maturities of marketable securities | 294,806,000 | 246,378,000 | 73,550,000 | 61,495,000 | |||||||||||||
taxes paid related to net share settlement of equity awards | 0 | 0 | -85,000 | ||||||||||||||
proceeds from issuance of convertible notes | |||||||||||||||||
repayments of tenant improvement loan and capital lease obligation | -229,000 | -315,000 | -262,000 | -366,000 | |||||||||||||
unpaid offering costs | |||||||||||||||||
payments for deferred offering costs | |||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets | |||||||||||||||||
uber acquisition in exchange for series c redeemable convertible preferred stock | |||||||||||||||||
proceeds from capital lease obligation | |||||||||||||||||
income from equity method investment and gain on deconsolidation | |||||||||||||||||
disposal of cash on deconsolidation of subsidiary | |||||||||||||||||
proceeds from issuance of series c redeemable convertible preferred stock | |||||||||||||||||
uber elevate acquisition in exchange for series c preferred stock | |||||||||||||||||
uber contractual agreement in exchange for series c preferred stock | |||||||||||||||||
convertible note extinguishment loss | |||||||||||||||||
loss from change in value of warrants and earnout shares | |||||||||||||||||
net change in equity method investment and gain on deconsolidation of subsidiary | |||||||||||||||||
net accretion and amortization of investments in marketable securities | |||||||||||||||||
asset acquisition and deconsolidations | |||||||||||||||||
proceeds from issuance of convertible notes payable | |||||||||||||||||
proceeds from issuance common stock warrants | |||||||||||||||||
conversion of uber note payable to series c redeemable | |||||||||||||||||
conversion of pre-merger warrants |