7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 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 
      
    		                   
      operating activities:
    		                   
      net income
    		-41,780,000 -30,872,000 -22,648,000 -22,342,000 -25,516,000 -34,055,000 16,489,000 -16,259,000 -4,276,000 7,395,000 37,447,000 67,007,000 63,177,000 73,269,000 85,551,000 48,989,000 42,763,000 27,166,000 16,119,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                   
      depreciation, depletion and amortization
    		22,497,000 20,777,000 21,384,000 22,118,000 19,344,000 18,210,000 18,385,000 18,633,000 16,751,000 12,203,000 8,122,000 5,593,000 2,096,000 5,407,000 5,260,000 4,615,000 6,951,000 6,666,000 6,150,000 
      accretion of discount on short-term investments
    		-6,136,000 -5,771,000 -5,691,000 -6,586,000 -7,352,000 -7,824,000 -8,493,000 -8,982,000 -3,401,000 -5,091,000 -8,842,000 -6,037,000 -2,913,000       
      gain on early extinguishment of debt
    		   -6,646,000 0 0 -46,265,000             
      stock-based compensation expense
    		7,686,000 5,552,000 7,353,000 4,560,000 5,453,000 5,703,000 7,467,000 6,195,000 6,298,000 5,730,000 7,013,000 6,761,000 7,806,000 7,440,000 9,773,000 8,208,000 4,552,000 4,498,000 5,673,000 
      amortization of debt discount and debt issuance costs
    		                   
      lower of cost or net realizable value reserve
    		-384,000 3,572,000 3,164,000  -2,668,000 11,762,000 5,991,000             
      deferred income taxes
    		-11,553,000 -13,378,000 -4,558,000 -11,535,000 -9,286,000 -14,098,000 7,144,000 -4,701,000 -200,000 5,979,000 7,377,000 -44,772,000 20,455,000 18,627,000 23,479,000 6,163,000 3,157,000 3,943,000 4,162,000 
      other
    		1,819,000 -5,984,000 65,000 2,880,000 1,029,000           557,000 -163,000 -259,000 -512,000 
      decrease (increase) in operating assets:
    		                   
      accounts receivable
    		7,028,000 47,899,000 -50,845,000 -4,325,000 -6,090,000 13,141,000 -11,571,000 3,151,000 -2,074,000 10,139,000 11,611,000 -16,838,000 16,730,000 4,360,000 13,901,000 -13,914,000 -28,917,000 5,747,000 -10,336,000 
      inventories
    		-31,627,000 -21,338,000 -31,103,000 1,314,000 -1,310,000 -20,598,000 -20,943,000 -21,601,000 -14,092,000 -6,382,000 -5,024,000 -1,928,000 -18,834,000 -2,625,000 -927,000 -4,566,000 1,375,000 -2,212,000 -2,826,000 
      government grant receivable
    		-5,174,000 -4,519,000 -6,364,000 -11,953,000 16,293,000 -3,220,000 -1,617,000             
      prepaid expenses, other current and non-current assets
    		-3,324,000 2,811,000 -7,100,000 1,089,000 1,425,000 -572,000 -3,243,000 1,887,000 1,902,000 -1,061,000 -351,000 -7,361,000 -98,000 743,000 694,000 -1,802,000 621,000 -742,000 -2,231,000 
      increase in operating liabilities:
    		                   
      accounts payable and accrued liabilities
    		5,856,000 2,987,000 -1,786,000 2,635,000 5,559,000 771,000 -7,633,000 2,704,000 8,349,000 3,838,000 -3,586,000 3,233,000 4,205,000 1,700,000 -7,176,000 1,226,000 68,000 1,178,000 3,058,000 
      deferred revenue
    		19,788,000 -19,861,000 44,809,000 50,000,000 0               
      deferred government grant
    		610,000 590,000 2,723,000 825,000 1,653,000 944,000 1,489,000             
      other current and non-current liabilities
    		-8,852,000 5,842,000 -6,637,000 23,806,000 -6,351,000 9,048,000 485,000 -349,000 347,000 -440,000 148,000 -618,000 222,000 -805,000 130,000 251,000 -3,093,000 2,638,000 -698,000 
      net cash from operating activities
    		-42,048,000 -3,655,000 -63,198,000 30,477,000 -6,844,000 30,842,000 -41,126,000 -13,781,000 11,021,000 9,968,000 55,491,000 29,095,000 94,557,000 98,891,000 120,971,000 31,507,000 22,495,000 38,634,000 9,335,000 
      capex
    		-50,496,000 -29,006,000 -30,467,000 -41,650,000 -46,442,000 -46,488,000 -51,838,000 -72,970,000 -58,691,000 -55,774,000 -74,462,000 -112,263,000 -91,748,000 0 0 0 0 0 0 
      free cash flows
    		-92,544,000 -32,661,000 -93,665,000 -11,173,000 -53,286,000 -15,646,000 -92,964,000 -86,751,000 -47,670,000 -45,806,000 -18,971,000 -83,168,000 2,809,000 98,891,000 120,971,000 31,507,000 22,495,000 38,634,000 9,335,000 
      investing activities:
    		                   
      additions to property, plant and equipment
    		-50,496,000 -29,006,000 -30,467,000 -41,650,000 -46,442,000 -46,488,000 -51,838,000 -72,970,000 -58,691,000 -55,774,000 -74,462,000 -112,263,000 -91,748,000       
      purchases of short-term investments
    		-707,442,000 -319,135,000 -364,680,000 -417,374,000 -316,904,000 -443,097,000 -390,608,000 -480,236,000 -384,357,000 0 -320,884,000 -1,421,276,000 -759,195,000       
      proceeds from sales of short-term investments
    		8,271,000 57,223,000 23,164,000 34,595,000 41,081,000 67,741,000 22,954,000 46,694,000 13,715,000 100,000 447,227,000 1,149,295,000        
      proceeds from maturities of short-term investments
    		404,615,000 336,329,000 354,613,000 402,789,000 342,992,000 392,100,000 460,110,000 245,283,000 38,000,000 321,600,000 410,307,000 69,000,000        
      proceeds from return of investment in equity method investee
    		0                   
      proceeds from sale of property, plant and equipment
    		0 2,397,000 1,666,000             0 0 0 125,000 
      proceeds from government awards used for construction
    		12,000,000   0 0 0 96,000 1,750,000    0 0 0 5,130,000 1,767,000    
      net cash from investing activities
    		-333,052,000 69,681,000 -15,704,000 -21,640,000 20,727,000 -29,744,000 40,714,000 -269,134,000 -390,283,000 265,926,000 462,188,000 -315,244,000 -325,078,000 -666,847,000 -49,802,000 -35,683,000 -39,114,000 -25,393,000 -19,173,000 
      financing activities:
    		                   
      proceeds from issuance of long-term debt
    		   0 0 0 747,500,000         0 0 0 690,000,000 
      proceeds from issuance of common stock
    		                   
      proceeds from issuance of series a preferred stock
    		                   
      proceeds from issuance of warrant
    		                   
      payments of debt issuance costs
    		                   
      payments to retire long-term debt
    		   0 0 0 -428,599,000             
      payments of equity issuance costs
    		                   
      purchase of capped call options
    		   0 0 0 -65,332,000             
      repurchases of common stock
    		   0 -24,304,000 0 -200,764,000             
      principal payments on debt obligations and finance leases
    		-1,146,000 -2,496,000 -1,361,000 -794,000 -541,000 -386,000 -811,000 -631,000 -634,000 -621,000 -846,000 -695,000 -651,000 -671,000 -3,817,000 -728,000 -717,000 -714,000 -276,000 
      tax withholding on stock-based awards
    		-1,647,000 -235,000 -3,642,000 -5,535,000 -453,000 -175,000 -3,949,000 -709,000 -344,000 -156,000 -5,976,000 -4,061,000 0 -202,000 -14,094,000     
      net cash from financing activities
    		1,260,599,000 -2,731,000 -5,003,000 -10,828,000 -25,329,000 -1,554,000 32,920,000 -1,340,000 -978,000 -777,000 -6,822,000 -4,756,000 -651,000 -873,000 -17,911,000 -3,501,000 -880,000 -1,303,000 671,793,000 
      net change in cash, cash equivalents and restricted cash
    		885,499,000 63,295,000 -83,905,000 -1,991,000 -11,446,000 -456,000 32,508,000 -284,255,000 -380,240,000 275,117,000 510,857,000 -290,905,000 -231,172,000 -568,829,000 53,258,000 -7,677,000 -17,499,000 11,938,000 661,955,000 
      cash, cash equivalents and restricted cash beginning balance
    		0 0 283,603,000 0 0 0 264,988,000 0 0 0 143,509,000 0 0 0 1,181,157,000 0 0 0 532,440,000 
      cash, cash equivalents and restricted cash ending balance
    		885,499,000 63,295,000 199,698,000 -1,991,000 -11,446,000 -456,000 297,496,000 -284,255,000 -380,240,000 275,117,000 654,366,000 -290,905,000 -231,172,000 -568,829,000 1,234,415,000 -7,677,000 -17,499,000 11,938,000 1,194,395,000 
      reconciliation of cash, cash equivalents and restricted cash:
    		                   
      cash and cash equivalents
    		885,620,000 63,192,000 198,343,000 -1,992,000 -11,170,000 -864,000 296,468,000 -284,317,000 -379,577,000 276,030,000 651,215,000 -291,342,000 -236,488,000 -568,843,000 1,233,300,000 -74,000 -17,504,000 15,360,000 1,181,515,000 
      restricted cash, current
    		-119,000 103,000 815,000 1,000 -276,000 395,000 692,000 62,000 -660,000 -664,000 2,552,000 372,000 5,315,000 13,000 587,000 1,005,000 -1,000 -3,425,000 3,765,000 
      restricted cash, non-current
    		-2,000 0 540,000 0 0 13,000 336,000 0 -3,000 -249,000 599,000 65,000 1,000 1,000 528,000 -8,608,000 6,000 3,000 9,115,000 
      total cash, cash equivalents and restricted cash
    		885,499,000 63,295,000 199,698,000 -1,991,000 -11,446,000 -456,000 297,496,000 -284,255,000 -380,240,000 275,117,000 654,366,000 -290,905,000 -231,172,000 -568,829,000 1,234,415,000 -7,677,000 -17,499,000 11,938,000 1,194,395,000 
      amortization of debt issuance costs
    		 1,041,000 1,033,000 1,037,000 973,000 978,000 913,000             
      payment of debt issuance costs
    		   -4,499,000 -31,000 -993,000 -15,125,000         0 0 -330,000 -17,419,000 
      change in fair value of derivative instrument
    		  -6,997,000                 
      write-downs of inventories
    		                   
      revenue recognized in exchange for debt principal reduction
    		           0 0 0 -13,566,000 -15,970,000 -15,957,000 -11,625,000 -11,276,000 
      income taxes receivable
    		        -1,000 -2,400,000 474,000 1,656,000 414,000       
      income taxes payable
    		       0 0 -21,161,000 -2,000 21,163,000 0 -5,246,000 1,783,000 -4,634,000    
      investment in equity method investee
    		                   
      accretion of asset retirement and environmental obligations
    		      231,000 227,000 227,000 227,000 227,000 222,000 418,000 419,000 418,000 595,000 595,000 592,000 593,000 
      gain on disposals of long-lived assets
    		      45,000             
      gain on forgiveness of paycheck protection loan
    		               0 0   
      loss on disposals of long-lived assets
    		       398,000            
      accretion of debt discount and amortization of debt issuance costs
    		       886,000 884,000 884,000 882,000 881,000 879,000 880,000 1,394,000 1,996,000 2,101,000   
      loss on sale or disposal of long-lived assets
    		           133,000 0    182,000   
      gain on sale or disposal of long-lived assets
    		          -5,000    257,000    -133,000 
      write-down of inventories
    		               0 0   
      non-cash settlement charge
    		                   
      refund liability to related party
    		                   
      deferred revenue from related party
    		                   
      proceeds from second additional advance
    		                   
      proceeds from business combination, including pipe financing
    		                   
      payment of underwriting and transaction costs
    		                   
      additions of property, plant and equipment
    		              -54,932,000 -37,450,000 -41,729,000 -25,393,000 -19,298,000 
      accretion of debt discount and issuance costs
    		                  1,064,000 
      accrued interest
    		                  16,000 
      gain on sale of equipment
    		                   
      accretion of debt discount
    		                   
      trade accounts receivable
    		                   
      proceeds from long-term debt
    		                   
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.