Rocket Lab(NASDAQ:RKLB) 
Rocket Lab Corporation is a publicly traded aerospace manufacturer and launch service provider. Its Electron orbital rocket launches small satellites, and has launched 70 times as of August 2025. A sub-orbital Electron variant called HASTE serves other needs.
Website: http://www.rocketlabusa.com
Founded: 2006
CEO / Founder: Peter Beck
Sector: Industrials
Industry: Aerospace & Defense
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At a glance:
- Vertically Integrated Space Solutions Provider: Rocket Lab offers comprehensive space services, encompassing small satellite launch (Electron rocket), satellite manufacturing (Photon spacecraft), and critical space components, enabling end-to-end mission capabilities.
- Developing Reusable Medium-Lift Neutron Rocket: A key strategic initiative is the development of the Neutron rocket, a larger, reusable launch vehicle designed to serve the medium-lift market, expand payload capacity, and support future human spaceflight aspirations.
- Revenue Growth with Focus on Profitability: The company has demonstrated consistent revenue growth across its launch and space systems segments, while actively managing its burn rate and investing in future programs like Neutron, with a clear path towards positive free cash flow.
- Proven Reliability in Small Satellite Launches: Rocket Lab has established a strong track record as a leading and reliable provider of dedicated small satellite launch services for commercial, civil, and national security customers globally.
Bull Thesis:
- Neutron Rocket's Transformative Potential: The development of the reusable Neutron rocket is poised to open up the lucrative medium-lift launch market, significantly expanding Rocket Lab's addressable market and offering a competitive alternative to existing solutions. This could drive substantial revenue growth and market share, moving beyond the small-lift niche.
- Strong Vertical Integration and Diversified Revenue Streams: Rocket Lab's strategy of vertical integration, encompassing satellite manufacturing (Photon), components (solar arrays, reaction wheels), and launch services, creates a more resilient business model. This diversification reduces reliance solely on launch cadence, provides higher-margin revenue from space systems, and offers end-to-end solutions for customers.
- Proven Execution and High Reliability: With over 40 successful Electron launches and a strong track record of mission delivery, including complex missions for NASA and commercial clients, Rocket Lab has established itself as a highly reliable and trusted partner in the space industry. This operational excellence fosters customer loyalty and secures future contracts.
- Growing Backlog and Strategic Government Contracts: Rocket Lab continues to secure significant contracts with government agencies (e.g., NRO, SDA, NASA) and commercial entities, building a robust launch and space systems backlog. This indicates strong, long-term demand for their services and provides a stable foundation for future revenue growth.
Bear Thesis:
- Significant Neutron Development Risks and Delays: The development of the Neutron rocket is a capital-intensive and technically challenging endeavor. Any significant delays, cost overruns, or technical hurdles could further strain Rocket Lab's finances, push back profitability timelines, and erode investor confidence, impacting its competitive positioning.
- Intense Competition and Pricing Pressure: Rocket Lab faces formidable competition from established players like SpaceX (with Falcon 9's low-cost rideshare options and Starship's future potential) and numerous emerging launch providers. This intense competitive landscape could lead to pricing pressure, limit market share expansion, and impact margins across both launch and space systems.
- Continued Negative Free Cash Flow and Path to Profitability: Despite revenue growth, Rocket Lab continues to report negative free cash flow due to high R&D expenses (primarily Neutron development) and operational costs. A clear and timely path to sustainable profitability and positive cash flow remains a key concern for investors, potentially requiring further capital raises and dilution.
- Electron Market Saturation and Rideshare Competition: While Electron has been successful, the dedicated small-satellite launch market may face saturation, and an increasing number of small satellites are opting for rideshare opportunities on larger, more cost-effective rockets (like Falcon 9). This could limit Electron's growth potential and put pressure on its launch cadence and pricing.
Main Competitors:
- SpaceX (Falcon 9 (Rideshare Program)), While primarily known for heavy-lift, SpaceX's Falcon 9 rideshare program offers highly competitive pricing for small satellites, directly competing with Rocket Lab's dedicated Electron launches by providing a cheaper, albeit less flexible, option for many customers. SpaceX's market dominance and frequent launch cadence also influence the overall launch landscape.
- Firefly Aerospace (Alpha), Firefly's Alpha rocket is a direct competitor in the small-to-medium launch vehicle market, targeting similar payload capacities and customer segments as Rocket Lab's Electron. They are also developing a lunar lander and other space systems, indicating broader ambitions that overlap with Rocket Lab's expansion into space systems.
- Arianespace (Vega C), Arianespace, backed by European governments, operates the Vega C rocket, which is a small-to-medium lift launcher directly competing with Electron and future Neutron for European and international small satellite launch contracts. They offer both dedicated and rideshare options from their Kourou spaceport.
- Relativity Space (Terran R), Relativity Space is developing Terran R, a medium-to-heavy lift rocket that will directly compete with Rocket Lab's upcoming Neutron rocket. Their innovative 3D printing manufacturing approach aims for rapid production and cost efficiency, vying for the same future launch contracts in the medium-lift segment.
Moat:
Rocket Lab operates in a highly competitive and rapidly evolving space industry. Its primary moat lies in its strong vertical integration, encompassing rocket manufacturing (Electron), satellite production (Photon), and spacecraft components, which allows for greater control, efficiency, and rapid iteration. The company also benefits from a proven track record of successful Electron launches, offering dedicated and flexible launch services from two private launch sites (New Zealand and Virginia, USA). However, Rocket Lab faces intense competition from larger players like SpaceX, whose rideshare programs offer significant price advantages for smallsats, as well as from numerous emerging small-to-medium launch providers (e.g., Firefly, Relativity) and established international players (e.g., Arianespace). The market is characterized by price pressure, technological innovation, and the constant entry of new ventures, requiring Rocket Lab to continually innovate and expand its space systems offerings beyond just launch to maintain its competitive edge and diversify revenue streams.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||||||
product revenues | 127,488,000 | 94,046,000 | 104,042,000 | 92,725,000 | 80,804,000 | ||||||||||||||
service revenues | 72,860,000 | 85,606,000 | 51,038,000 | 51,773,000 | 41,765,000 | ||||||||||||||
total revenues | 200,348,000 | 179,652,000 | 155,080,000 | 144,498,000 | 122,569,000 | 132,388,000 | 104,808,000 | 106,251,000 | 92,767,000 | 59,991,000 | 67,661,000 | 62,045,000 | 54,895,000 | 51,762,000 | 63,057,000 | 55,474,000 | 40,703,000 | 27,478,000 | 5,287,000 |
yoy | 63.46% | 35.70% | 47.97% | 36.00% | 32.13% | 120.68% | 54.90% | 71.25% | 68.99% | 15.90% | 7.30% | 11.85% | 34.87% | 88.38% | 1092.68% | ||||
qoq | 11.52% | 15.84% | 7.32% | 17.89% | -7.42% | 26.31% | -1.36% | 14.54% | 54.63% | -11.34% | 9.05% | 13.02% | 6.05% | -17.91% | 13.67% | 36.29% | 48.13% | 419.73% | |
cost of revenues: | |||||||||||||||||||
cost of product revenues | 81,084,000 | 64,446,000 | 72,841,000 | 61,692,000 | 53,869,000 | ||||||||||||||
cost of service revenues | 42,771,000 | 46,974,000 | 24,925,000 | 36,418,000 | 33,453,000 | ||||||||||||||
total cost of revenues | 123,855,000 | 111,420,000 | 97,766,000 | 98,110,000 | 87,322,000 | ||||||||||||||
gross profit | 76,493,000 | 68,232,000 | 57,314,000 | 46,388,000 | 35,247,000 | 36,817,000 | 27,996,000 | 27,162,000 | 24,174,000 | 15,492,000 | 14,967,000 | 14,593,000 | 6,357,000 | 1,830,000 | 8,467,000 | 4,958,000 | 3,735,000 | ||
yoy | 117.02% | 85.33% | 104.72% | 70.78% | 45.81% | 137.65% | 87.05% | 86.13% | 280.27% | 746.56% | 76.77% | 194.33% | 70.20% | ||||||
qoq | 12.11% | 19.05% | 23.55% | 31.61% | -4.26% | 31.51% | 3.07% | 12.36% | 56.04% | 3.51% | 2.56% | 129.56% | 247.38% | -78.39% | 70.77% | 32.74% | |||
gross margin % | 38.18% | 37.98% | 36.96% | 32.10% | 28.76% | 27.81% | 26.71% | 25.56% | 26.06% | 25.82% | 22.12% | 23.52% | 11.58% | 3.54% | 13.43% | 8.94% | 9.18% | 0% | 0% |
operating expenses: | |||||||||||||||||||
research and development | 80,513,000 | 78,779,000 | 70,694,000 | 66,134,000 | 55,109,000 | 48,255,000 | 47,723,000 | 39,912,000 | 38,504,000 | 37,488,000 | 26,626,000 | 31,035,000 | 23,905,000 | 15,018,000 | 17,508,000 | 19,165,000 | 13,477,000 | 11,968,000 | 14,189,000 |
selling, general and administrative | 51,949,000 | 40,495,000 | 45,589,000 | 39,893,000 | 39,326,000 | 40,111,000 | 32,172,000 | 30,524,000 | 28,749,000 | 25,887,000 | 27,200,000 | 28,717,000 | 28,469,000 | 24,035,000 | 22,961,000 | 18,952,000 | 23,078,000 | 19,048,000 | 25,655,000 |
total operating expenses | 132,462,000 | 119,274,000 | 116,283,000 | 106,027,000 | 94,435,000 | 88,366,000 | 79,895,000 | 70,436,000 | 67,253,000 | 63,375,000 | 53,826,000 | 59,752,000 | 52,374,000 | 39,053,000 | 40,469,000 | 38,117,000 | 36,555,000 | 31,016,000 | 39,844,000 |
operating income | -55,969,000 | -51,042,000 | -58,969,000 | -59,639,000 | -59,188,000 | -51,549,000 | -51,899,000 | -43,274,000 | -43,079,000 | -47,883,000 | -38,859,000 | -45,159,000 | -46,017,000 | -37,223,000 | -32,002,000 | -33,159,000 | -32,820,000 | -24,331,000 | -52,295,000 |
yoy | -5.44% | -0.98% | 13.62% | 37.82% | 37.39% | 7.66% | 33.56% | -4.17% | -6.38% | 28.64% | 21.43% | 36.19% | 40.21% | 52.99% | -38.80% | ||||
qoq | 9.65% | -13.44% | -1.12% | 0.76% | 14.82% | -0.67% | 19.93% | 0.45% | -10.03% | 23.22% | -13.95% | -1.86% | 23.63% | 16.31% | -3.49% | 1.03% | 34.89% | -53.47% | |
operating margin % | -27.94% | -28.41% | -38.02% | -41.27% | -48.29% | -38.94% | -49.52% | -40.73% | -46.44% | -79.82% | -57.43% | -72.78% | -83.83% | -71.91% | -50.75% | -59.77% | -80.63% | -88.55% | -989.12% |
other income: | |||||||||||||||||||
interest expense | -1,274,000 | -20,942,000 | -590,000 | -2,371,000 | -2,586,000 | -1,778,000 | -454,000 | -824,000 | -898,000 | -685,000 | -1,726,750 | -1,486,000 | -2,432,000 | -2,989,000 | |||||
interest income | 10,149,000 | -1,405,000 | -1,413,000 | -745,000 | -2,751,000 | -2,977,000 | |||||||||||||
gain on foreign exchange | 156,000 | -58,750 | 388,000 | -489,000 | -134,000 | -286,000 | 311,000 | -90,000 | 134,000 | -488,000 | -51,000 | -178,000 | 16,000 | ||||||
other income | 124,000 | 5,056,000 | -177,000 | -977,000 | 479,000 | 1,279,000 | 1,848,000 | 1,893,000 | -589,000 | 196,000 | 1,176,000 | 866,000 | 1,477,000 | 385,000 | 622,000 | -23,000 | 26,000 | -215,000 | -450,000 |
total other income | 9,155,000 | 9,398,000 | -379,000 | -3,837,000 | -2,241,000 | -121,000 | 904,000 | 783,000 | -1,176,000 | -1,603,000 | -357,000 | 31,000 | 926,000 | -995,000 | -915,000 | -6,331,000 | 10,499,000 | 20,986,000 | -37,358,000 |
income before income taxes | -46,814,000 | -41,644,000 | -59,348,000 | -63,476,000 | -61,429,000 | -51,670,000 | -50,995,000 | -42,491,000 | -44,255,000 | -49,486,000 | -39,216,000 | -45,128,000 | -45,091,000 | -38,218,000 | -32,917,000 | -39,490,000 | -22,321,000 | -3,345,000 | -89,653,000 |
benefit for income taxes | 1,792,000 | -11,278,000 | 41,091,000 | -2,938,000 | 813,000 | 860,000 | -761,000 | 1,010,000 | -1,693,000 | 2,073,000 | 6,541,000 | 1,684,000 | |||||||
net income | -45,022,000 | -52,922,000 | -18,257,000 | -66,414,000 | -60,616,000 | -52,345,000 | -51,939,000 | -41,631,000 | -44,260,000 | -50,497,000 | -40,568,000 | -45,889,000 | -45,617,000 | -37,208,000 | -34,610,000 | -37,417,000 | -26,709,000 | 3,196,000 | -87,969,000 |
yoy | -25.73% | 1.10% | -64.85% | 59.53% | 36.95% | 3.66% | 28.03% | -9.28% | -2.97% | 35.72% | 17.21% | 22.64% | 70.79% | -1264.21% | -60.66% | ||||
qoq | -14.93% | 189.87% | -72.51% | 9.57% | 15.80% | 0.78% | 24.76% | -5.94% | -12.35% | 24.47% | -11.60% | 0.60% | 22.60% | 7.51% | -7.50% | 40.09% | -935.70% | -103.63% | |
net income margin % | -22.47% | -29.46% | -11.77% | -45.96% | -49.45% | -39.54% | -49.56% | -39.18% | -47.71% | -84.17% | -59.96% | -73.96% | -83.10% | -71.88% | -54.89% | -67.45% | -65.62% | 11.63% | -1663.87% |
other comprehensive loss, net of tax: | |||||||||||||||||||
foreign currency translation gain | -381,000 | 140,000 | -2,987,000 | 3,095,000 | 376,000 | -4,754,000 | 2,026,000 | 1,006,000 | |||||||||||
unrealized gain on available-for-sale marketable securities | -625,000 | -41,000 | 219,000 | -20,000 | 59,000 | -364,000 | 1,062,000 | 20,000 | -263,000 | 823,000 | 117,000 | 368,000 | |||||||
comprehensive loss | -46,028,000 | -52,823,000 | -21,025,000 | -63,339,000 | -60,181,000 | -57,463,000 | -48,851,000 | -40,605,000 | -47,598,000 | -46,577,000 | -41,187,000 | -48,219,000 | -46,187,000 | -31,716,000 | -40,120,000 | -38,447,000 | -25,833,000 | 3,383,000 | -88,977,000 |
net income per share | |||||||||||||||||||
basic and diluted | -0.07 | -0.09 | -0.03 | -0.13 | -0.12 | -0.1 | -0.1 | -0.08 | -0.09 | -0.1 | -0.08 | -0.1 | -0.1 | -0.08 | -0.07 | -0.08 | -0.06 | 0.37 | -0.39 |
weighted-average common shares outstanding: | |||||||||||||||||||
basic and diluted | 605,434,642 | 530,664,781 | 528,725,980 | 515,086,631 | 505,614,185 | 495,929,861 | 497,701,715 | 494,190,708 | 489,994,709 | 481,768,060 | 484,034,071 | 479,735,858 | 476,199,710 | 466,214,095 | 469,768,797 | 464,719,924 | 456,495,288 | 209,895,135 | 228,266,647 |
cost of revenues | 56,123,500 | 76,812,000 | 79,089,000 | 68,593,000 | 44,499,000 | 52,694,000 | 47,452,000 | 48,538,000 | 49,932,000 | 54,590,000 | 50,516,000 | 36,968,000 | 20,793,000 | 17,738,000 | |||||
loss on foreign exchange | 378,000 | -490,000 | -394,000 | -120,000 | -3,876,000 | -20,000 | |||||||||||||
provision for income taxes | -675,000 | -944,000 | -5,000 | -659,750 | -1,352,000 | -526,000 | -4,388,000 | ||||||||||||
foreign currency translation loss | -3,075,000 | -797,500 | -736,000 | -1,516,000 | |||||||||||||||
change in fair value of liability classified warrants | 13,482,000 | 24,130,000 | -33,947,000 | ||||||||||||||||
unrealized loss on available-for-sale marketable securities | -814,000 | 83,000 | -855,000 | ||||||||||||||||
other comprehensive income, net of tax: | |||||||||||||||||||
foreign currency translation income | -938,000 | 5,409,000 | -4,655,000 | -1,030,000 | 876,000 | 187,000 | -1,008,000 | ||||||||||||
gross loss | 6,685,000 | -12,451,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 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 |
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assets | |||||||||||||||||||||
current assets: | |||||||||||||||||||||
cash and cash equivalents | 1,205,499,000 | 828,660,000 | 807,875,000 | 564,081,000 | 303,149,000 | 271,042,000 | 292,470,000 | 340,911,000 | 365,929,000 | 162,518,000 | 140,904,000 | 197,160,000 | 208,365,000 | 242,515,000 | 333,279,000 | 542,511,000 | 603,144,000 | 690,959,000 | 792,660,000 | ||
marketable securities, current | 177,852,000 | 187,917,000 | 168,865,000 | 124,055,000 | 125,247,000 | 147,948,000 | 149,919,000 | 155,844,000 | 126,593,000 | 82,255,000 | 147,513,000 | 144,018,000 | 190,357,000 | 229,276,000 | 169,428,000 | ||||||
accounts receivable | 74,955,000 | 39,001,000 | 59,086,000 | 61,783,000 | 39,413,000 | 36,440,000 | 22,148,000 | 50,476,000 | 31,167,000 | 35,176,000 | 22,787,000 | 25,175,000 | 50,690,000 | 36,572,000 | 57,732,000 | 40,183,000 | 32,990,000 | 13,957,000 | 13,336,000 | ||
contract assets | 75,036,000 | 61,606,000 | 52,785,000 | 51,922,000 | 60,943,000 | 63,108,000 | 49,461,000 | 18,744,000 | 14,895,000 | 12,951,000 | 13,042,000 | 16,714,000 | 12,558,000 | 9,451,000 | 9,063,000 | 4,393,000 | 5,853,000 | 2,490,000 | 73,000 | ||
inventories | 183,146,000 | 158,407,000 | 144,999,000 | 130,232,000 | 125,588,000 | 119,074,000 | 114,435,000 | 104,539,000 | 99,901,000 | 107,857,000 | 102,394,000 | 102,234,000 | 98,453,000 | 92,279,000 | 86,138,000 | 85,683,000 | 77,888,000 | 47,904,000 | 38,365,000 | ||
prepaids and other current assets | 83,874,000 | 89,953,000 | 82,813,000 | 74,011,000 | 70,510,000 | 55,009,000 | 67,066,000 | 81,322,000 | 78,606,000 | 66,949,000 | 68,341,000 | 63,520,000 | 63,203,000 | 52,201,000 | 43,810,000 | 33,646,000 | 26,307,000 | 19,454,000 | 10,582,000 | ||
total current assets | 1,800,362,000 | 1,365,544,000 | 1,316,423,000 | 1,006,084,000 | 724,850,000 | 692,621,000 | 695,499,000 | 751,836,000 | 725,623,000 | 476,722,000 | 506,240,000 | 560,205,000 | 635,256,000 | 662,294,000 | 699,450,000 | 706,416,000 | 746,182,000 | 774,764,000 | 855,016,000 | 329,471 | 777,703 |
non-current assets: | |||||||||||||||||||||
property, plant and equipment | 343,988,000 | 319,473,000 | 278,003,000 | 249,770,000 | 213,990,000 | 194,838,000 | 170,983,000 | 155,894,000 | 148,087,000 | 145,409,000 | 135,988,000 | 120,004,000 | 95,981,000 | 101,514,000 | 93,547,000 | 97,031,000 | 99,554,000 | 65,339,000 | 54,859,000 | ||
intangible assets | 220,567,000 | 224,746,000 | 231,984,000 | 53,922,000 | 56,181,000 | 58,637,000 | 61,582,000 | 64,243,000 | 66,845,000 | 68,094,000 | 70,404,000 | 73,309,000 | 76,495,000 | 79,692,000 | 82,980,000 | 84,503,000 | 87,617,000 | 57,487,000 | 9,892,000 | ||
goodwill | 208,738,000 | 205,750,000 | 217,709,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 71,020,000 | 59,929,000 | 58,281,000 | 58,767,000 | 43,308,000 | 3,195,000 | ||
right-of-use assets - operating leases | 90,933,000 | 90,371,000 | 90,844,000 | 70,664,000 | 52,137,000 | 53,664,000 | 53,985,000 | 55,283,000 | 56,870,000 | 59,401,000 | 44,900,000 | 47,586,000 | 34,839,000 | 35,239,000 | 32,214,000 | 31,365,000 | 33,448,000 | 28,424,000 | 25,379,000 | ||
right-of-use assets - finance leases | 13,767,000 | 13,895,000 | 14,022,000 | 14,147,000 | 14,272,000 | 14,396,000 | 14,518,000 | 14,667,000 | 14,827,000 | 14,987,000 | 15,145,000 | 15,302,000 | 15,458,000 | 15,614,000 | 15,768,000 | 15,921,000 | 16,073,000 | ||||
marketable securities, non-current | 93,494,000 | 82,247,000 | 46,202,000 | 61,163,000 | 83,947,000 | 60,686,000 | 61,292,000 | 46,411,000 | 68,566,000 | 79,247,000 | 81,951,000 | 73,941,000 | 47,920,000 | 9,193,000 | 9,751,000 | ||||||
restricted cash | 5,524,000 | 4,885,000 | 4,835,000 | 4,907,000 | 5,102,000 | 4,260,000 | 4,322,000 | 3,640,000 | 3,849,000 | 3,916,000 | 3,588,000 | 3,594,000 | 3,337,000 | 3,356,000 | 3,008,000 | 4,118,000 | 4,632,000 | 1,116,000 | 1,129,000 | ||
deferred income tax assets | 849,000 | 1,895,000 | 2,097,000 | 3,765,000 | 3,010,000 | 1,419,000 | 1,573,000 | 3,353,000 | 3,501,000 | 3,282,000 | 3,641,000 | 3,500,000 | 3,898,000 | 3,243,000 | 4,447,000 | 7,221,000 | 5,859,000 | 5,907,000 | |||
other non-current assets | 41,719,000 | 15,672,000 | 21,373,000 | 19,459,000 | 29,709,000 | 31,210,000 | 18,409,000 | 24,031,000 | 22,884,000 | 18,914,000 | 17,975,000 | 12,894,000 | 7,102,000 | 7,303,000 | 1,472,000 | 2,670,000 | 3,990,000 | 4,550,000 | |||
total assets | 2,819,941,000 | 2,324,478,000 | 2,221,395,000 | 1,553,233,000 | 1,254,973,000 | 1,184,342,000 | 1,153,029,000 | 1,188,598,000 | 1,181,924,000 | 941,211,000 | 950,493,000 | 981,496,000 | 990,908,000 | 989,123,000 | 1,001,362,000 | 1,004,752,000 | 1,057,484,000 | 980,847,000 | 955,377,000 | 320,343,990 | 320,787,359 |
liabilities and stockholders’ equity | |||||||||||||||||||||
current liabilities: | |||||||||||||||||||||
trade payables | 63,112,000 | 72,699,000 | 61,229,000 | 71,005,000 | 70,203,000 | 53,059,000 | 42,434,000 | 26,468,000 | 25,995,000 | 29,303,000 | 24,980,000 | 25,867,000 | 22,852,000 | 12,084,000 | 13,266,000 | 14,156,000 | 15,106,000 | 3,489,000 | 2,205,000 | ||
accrued expenses | 33,546,000 | 19,299,000 | 17,961,000 | 23,200,000 | 12,141,000 | 19,460,000 | 8,063,000 | 11,937,000 | 9,091,000 | 5,590,000 | 5,998,000 | 6,492,000 | 8,678,000 | 8,723,000 | 9,586,000 | 11,468,000 | 17,051,000 | 10,977,000 | 7,219,000 | 2,390,012 | 1,692,954 |
employee benefits payable | 40,720,000 | 25,803,000 | 82,174,000 | 23,888,000 | 21,959,000 | 20,847,000 | 19,335,000 | 13,918,000 | 13,934,000 | 16,342,000 | 14,979,000 | 14,138,000 | 12,333,000 | 8,634,000 | 8,560,000 | 13,632,000 | 22,958,000 | 8,266,000 | 5,652,000 | ||
contract liabilities | 241,412,000 | 195,438,000 | 208,243,000 | 223,432,000 | 206,867,000 | 216,160,000 | 167,129,000 | 184,042,000 | 150,535,000 | 139,338,000 | 133,793,000 | 134,574,000 | 125,635,000 | 108,344,000 | 112,649,000 | 90,659,000 | 97,116,000 | 59,749,000 | 51,163,000 | ||
other current liabilities | 23,555,000 | 21,237,000 | 27,760,000 | 18,425,000 | 16,456,000 | 17,954,000 | 20,480,000 | 18,731,000 | 21,911,000 | 15,036,000 | 18,885,000 | 20,489,000 | 24,863,000 | 22,249,000 | 14,393,000 | 11,320,000 | 18,307,000 | 10,999,000 | 7,698,000 | ||
total current liabilities | 402,345,000 | 334,476,000 | 414,457,000 | 376,453,000 | 348,116,000 | 339,525,000 | 269,199,000 | 266,441,000 | 232,462,000 | 223,373,000 | 303,751,000 | 305,941,000 | 197,295,000 | 162,940,000 | 161,340,000 | 144,101,000 | 173,384,000 | 96,307,000 | 76,744,000 | 2,390,012 | 1,692,954 |
non-current liabilities: | |||||||||||||||||||||
convertible senior notes | 36,869,000 | 152,395,000 | 347,014,000 | 346,466,000 | 345,926,000 | 345,392,000 | 344,865,000 | 344,344,000 | 343,829,000 | ||||||||||||
long-term borrowings | 1,716,000 | ||||||||||||||||||||
non-current operating lease liabilities | 85,517,000 | 85,191,000 | 86,505,000 | 66,626,000 | 50,643,000 | 51,965,000 | 51,906,000 | 52,888,000 | 54,101,000 | 56,099,000 | 41,695,000 | 43,169,000 | 33,870,000 | 34,266,000 | 31,588,000 | 30,370,000 | 32,303,000 | ||||
non-current finance lease liabilities | 14,568,000 | 14,653,000 | 14,742,000 | 14,820,000 | 14,897,000 | 14,970,000 | 15,042,000 | 15,112,000 | 15,177,000 | 15,238,000 | 15,299,000 | 15,385,000 | 15,478,000 | 15,568,000 | 15,656,000 | 15,744,000 | 15,825,000 | ||||
deferred income tax liabilities | 1,352,000 | ||||||||||||||||||||
other non-current liabilities | 13,207,000 | 12,952,000 | 23,417,000 | 5,480,000 | 5,342,000 | 5,097,000 | 4,541,000 | 3,953,000 | 4,162,000 | 3,944,000 | 3,638,000 | 5,716,000 | 3,353,000 | 3,005,000 | 2,576,000 | 2,417,000 | 4,901,000 | 1,800,000 | |||
total liabilities | 555,574,000 | 602,624,000 | 940,409,000 | 864,748,000 | 823,679,000 | 801,889,000 | 733,194,000 | 733,418,000 | 702,978,000 | 386,667,000 | 364,691,000 | 370,448,000 | 350,890,000 | 315,917,000 | 310,526,000 | 291,298,000 | 324,889,000 | 282,399,000 | 281,259,000 | 59,706,013 | 59,090,288 |
commitments and contingencies | |||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||
preferred stock, 0.0001 par value... | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | ||||||||||||||||
common stock, 0.0001 par value... | 58,000 | 54,000 | 50,000 | 48,000 | 46,000 | 50,000 | 50,000 | 50,000 | 49,000 | 49,000 | 49,000 | 48,000 | 48,000 | 48,000 | 47,000 | 47,000 | 46,000 | 45,000 | 45,000 | ||
treasury stock | |||||||||||||||||||||
additional paid-in capital | 3,324,206,000 | 2,735,669,000 | 2,241,982,000 | 1,628,458,000 | 1,307,930,000 | 1,198,909,000 | 1,178,828,000 | 1,165,322,000 | 1,148,484,000 | 1,176,484,000 | 1,161,165,000 | 1,145,225,000 | 1,125,976,000 | 1,112,977,000 | 1,098,892,000 | 1,081,390,000 | 1,062,085,000 | 1,002,106,000 | 981,159,000 | 40,900,782 | |
accumulated deficit | -1,056,932,000 | -1,011,910,000 | -958,988,000 | -940,731,000 | -874,317,000 | -813,701,000 | -761,356,000 | -709,417,000 | -667,786,000 | -623,526,000 | -573,029,000 | -532,461,000 | -486,572,000 | -440,955,000 | -403,747,000 | -369,137,000 | -331,720,000 | -305,011,000 | -308,207,000 | -59,362,823 | -35,902,214 |
accumulated other comprehensive loss | -2,970,000 | -1,964,000 | -2,063,000 | -2,370,000 | |||||||||||||||||
total stockholders’ equity | 2,264,367,000 | 1,721,854,000 | 1,280,986,000 | 688,485,000 | 431,294,000 | 382,453,000 | 419,835,000 | 455,180,000 | 478,946,000 | 554,544,000 | 585,802,000 | 611,048,000 | 640,018,000 | 673,206,000 | 690,836,000 | 713,454,000 | 732,595,000 | 698,448,000 | 674,118,000 | ||
total liabilities and stockholders’ equity | 2,819,941,000 | 2,324,478,000 | 2,221,395,000 | 1,553,233,000 | 1,254,973,000 | 1,184,342,000 | 1,153,029,000 | 1,188,598,000 | 1,181,924,000 | 941,211,000 | 950,493,000 | 981,496,000 | 990,908,000 | 989,123,000 | 1,001,362,000 | 1,004,752,000 | 1,057,484,000 | ||||
current installments of long-term borrowings | 17,090,000 | 16,503,000 | 20,490,000 | 12,045,000 | 11,758,000 | 11,345,000 | 10,996,000 | 17,764,000 | 105,116,000 | 104,381,000 | 2,934,000 | 2,906,000 | 2,886,000 | 2,866,000 | 2,846,000 | 2,827,000 | 2,807,000 | ||||
long-term borrowings, net, excluding current installments | 1,716,000 | 51,267,000 | 53,720,000 | 57,728,000 | 44,049,000 | 46,915,000 | 50,061,000 | 52,717,000 | 87,587,000 | 100,724,000 | 100,043,000 | 99,344,000 | 98,649,000 | 97,967,000 | 97,297,000 | 96,616,000 | |||||
deferred tax liabilities | 1,241,000 | 3,007,000 | 1,183,000 | 1,027,000 | 891,000 | 726,000 | 619,000 | 530,000 | 426,000 | 308,000 | 237,000 | 170,000 | 95,000 | 22,000 | 17,000 | 509,000 | 466,000 | ||||
accumulated other comprehensive income | 705,000 | -2,805,000 | 2,313,000 | -775,000 | -1,801,000 | 1,537,000 | -2,383,000 | -1,764,000 | 566,000 | 1,136,000 | -4,356,000 | 1,154,000 | 2,184,000 | 1,308,000 | 1,121,000 | ||||||
assets held for sale | 8,532,000 | 9,016,000 | 11,259,000 | 11,384,000 | 11,630,000 | ||||||||||||||||
public and private warrant liabilities | 58,227,000 | 81,984,000 | |||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | |||||||||||||||||||||
non-current lease liabilities | 28,302,000 | 25,915,000 | |||||||||||||||||||
redeemable convertible preferred stock | |||||||||||||||||||||
series a preferred stock, 0.0001 par value... | |||||||||||||||||||||
series b preferred stock, 0.0001 par value... | |||||||||||||||||||||
series c preferred stock, 0.0001 par value... | |||||||||||||||||||||
series d preferred stock, 0.0001 par value... | |||||||||||||||||||||
series e preferred stock, 0.0001 par value... | |||||||||||||||||||||
series e-1 preferred stock, 0.0001 par value... | |||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 980,847,000 | 955,377,000 | |||||||||||||||||||
current assets | |||||||||||||||||||||
cash | 44,846 | 425,453 | |||||||||||||||||||
prepaid expenses | 284,625 | 352,250 | |||||||||||||||||||
investment held in trust account | 320,014,519 | 320,009,656 | |||||||||||||||||||
liabilities and shareholders’ equity | |||||||||||||||||||||
current liabilities | |||||||||||||||||||||
warrant liabilities | 46,116,001 | 46,197,334 | |||||||||||||||||||
deferred underwriting fee payable | 11,200,000 | 11,200,000 | |||||||||||||||||||
class a ordinary shares subject to possible redemption, 32,000,000 and 28,025,733 shares at june 30, 2021 and december 31, 2020 (at 10.00 per share), respectively | 320,000,000 | ||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||
preference shares, 0.0001 par value... | |||||||||||||||||||||
class a ordinary shares, 0.0001 par value... | 633 | ||||||||||||||||||||
class b ordinary shares, 0.0001 par value... | 800 | 800 | |||||||||||||||||||
total shareholders’ equity | -59,362,023 | 5,000,001 | |||||||||||||||||||
total liabilities and shareholders’ equity | 320,343,990 | 320,787,359 | |||||||||||||||||||
class a ordinary shares subject to possible redemption, 25,669,707 and 28,025,733 shares at march 31, 2021 and december 31, 2020 (at 10.00 per share), respectively | 256,697,070 | ||||||||||||||||||||
formation and operating costs | 1,930,406 | ||||||||||||||||||||
income from operations | -1,930,406 | ||||||||||||||||||||
other income: | |||||||||||||||||||||
interest earned on investment held in trust account | 4,810 | ||||||||||||||||||||
change in fair value of warrant liabilities | -21,634,667 | ||||||||||||||||||||
net income | -23,560,263 | ||||||||||||||||||||
weighted-average shares outstanding of class a redeemable ordinary shares | 32,000,000 | ||||||||||||||||||||
basic and diluted net income per share, class a redeemable ordinary shares | |||||||||||||||||||||
weighted-average shares outstanding of class b non-redeemable ordinary shares | 8,000,000 | ||||||||||||||||||||
basic and diluted net income per share, class b non-redeemable ordinary shares | -2.95 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||
net loss | -45,022,000 | -52,922,000 | -18,257,000 | -66,414,000 | -60,616,000 | -52,345,000 | -51,939,000 | -41,631,000 | -44,260,000 | -50,497,000 | -40,568,000 | -45,889,000 | -45,617,000 | -37,208,000 | -34,610,000 | -37,417,000 | -26,709,000 | 3,196,000 | |||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||
depreciation and amortization | 14,990,000 | 14,744,000 | 11,726,000 | 8,758,000 | 8,707,000 | 9,139,000 | 8,095,000 | 8,108,000 | 8,313,000 | 8,167,000 | 7,792,000 | 6,752,000 | 7,033,000 | 8,357,000 | 7,853,000 | 7,649,000 | 6,088,000 | 3,441,000 | |||
stock-based compensation expense | 28,116,000 | 18,205,000 | 15,727,000 | 17,933,000 | 19,234,000 | 16,872,000 | 12,896,000 | 13,955,000 | 13,093,000 | 10,063,000 | 14,098,000 | 15,264,000 | 14,036,000 | 12,337,000 | 14,485,000 | 16,869,000 | 11,958,000 | ||||
loss on disposal of assets | -409,000 | 257,000 | 853,000 | 1,490,000 | 13,000 | -472,000 | -1,164,000 | -1,195,000 | 3,000 | -351,000 | 213,000 | 22,000 | 5,000 | 891,000 | 7,000 | 20,000 | 5,000 | 93,000 | |||
amortization of debt issuance costs and discount | 133,000 | 589,000 | 860,000 | 860,000 | 831,000 | 819,000 | 818,000 | 815,000 | 639,000 | 738,000 | 735,000 | 722,000 | 709,000 | 720,000 | 715,000 | 702,000 | 690,000 | 700,000 | |||
noncash lease expense | 2,797,000 | 2,313,000 | 2,410,000 | 2,046,000 | 1,519,000 | 1,514,000 | 1,478,000 | 1,468,000 | 1,491,000 | 1,725,000 | 2,036,000 | 1,038,000 | 988,000 | 887,000 | 786,000 | 795,000 | 731,000 | 531,000 | |||
change in the fair value of contingent consideration | 187,000 | 0 | 0 | 53,000 | -271,000 | 205,000 | -462,000 | 1,300,000 | 300,000 | 2,500,000 | |||||||||||
accretion of marketable securities purchased at a discount | -458,000 | -646,000 | -500,000 | -538,000 | -561,000 | -629,000 | -667,000 | -763,000 | -842,000 | -1,172,000 | -1,283,000 | -969,000 | -1,147,000 | -974,000 | |||||||
deferred income taxes | 1,155,000 | 2,382,000 | -34,503,000 | 2,039,000 | -585,000 | -1,711,000 | 310,000 | 1,922,000 | 78,000 | 64,000 | 396,000 | -172,000 | 420,000 | -1,743,000 | 916,000 | 1,809,000 | -1,558,000 | -6,272,000 | |||
changes in operating assets and liabilities: | |||||||||||||||||||||
accounts receivable | -35,662,000 | 20,109,000 | 5,875,000 | -22,343,000 | -2,974,000 | -14,356,000 | 28,348,000 | -19,359,000 | 3,939,000 | -12,346,000 | 2,365,000 | 25,549,000 | -14,116,000 | 21,322,000 | -17,826,000 | -7,282,000 | -5,644,000 | 2,812,000 | |||
contract assets | -13,434,000 | -10,312,000 | 1,415,000 | 9,028,000 | 2,165,000 | -13,651,000 | -30,717,000 | -3,849,000 | -1,944,000 | 91,000 | 3,672,000 | -4,155,000 | -3,109,000 | -585,000 | -4,674,000 | 1,382,000 | -3,668,000 | -153,000 | |||
inventories | -24,571,000 | -14,318,000 | -14,054,000 | -5,205,000 | -6,308,000 | -5,280,000 | -9,648,000 | -4,979,000 | 7,509,000 | -4,629,000 | -322,000 | -3,899,000 | -6,712,000 | -8,329,000 | -1,333,000 | -7,170,000 | -9,132,000 | -462,000 | |||
prepaids and other current assets | 4,081,000 | 1,995,000 | 582,000 | -8,420,000 | -9,617,000 | 5,640,000 | 6,589,000 | 665,000 | -5,303,000 | 1,233,000 | -4,980,000 | -804,000 | -10,035,000 | 2,114,000 | -9,083,000 | -7,019,000 | -1,071,000 | -8,633,000 | |||
other non-current assets | -26,098,000 | 5,702,000 | -1,747,000 | 10,308,000 | 1,571,000 | -13,466,000 | 5,833,000 | -1,023,000 | -4,266,000 | -758,000 | -5,078,000 | -5,737,000 | 103,000 | -10,353,000 | 1,192,000 | 1,317,000 | 772,000 | ||||
trade payables | -8,161,000 | 11,854,000 | -12,783,000 | 1,370,000 | 9,779,000 | 10,947,000 | 15,783,000 | -257,000 | -1,673,000 | 3,559,000 | -1,208,000 | 1,929,000 | 11,305,000 | -504,000 | -3,617,000 | 1,187,000 | 805,000 | -20,000 | |||
accrued expenses | 10,825,000 | -4,602,000 | -1,353,000 | 6,736,000 | -2,712,000 | 6,106,000 | -3,586,000 | 3,366,000 | 3,200,000 | -1,088,000 | 658,000 | -3,248,000 | 403,000 | 12,000 | -97,000 | -188,000 | -3,245,000 | 305,000 | |||
employee benefits payables | 1,309,000 | 40,128,000 | 3,542,000 | -253,000 | 4,589,000 | -442,000 | -622,000 | 199,000 | 1,169,000 | 2,822,000 | 1,294,000 | -411,000 | -1,406,000 | 3,450,000 | 475,000 | -1,560,000 | |||||
contract liabilities | 45,753,000 | -12,419,000 | -16,404,000 | 16,511,000 | -9,294,000 | 49,074,000 | -16,927,000 | 33,513,000 | 11,205,000 | 5,542,000 | -780,000 | 8,938,000 | 17,292,000 | -3,743,000 | 21,937,000 | -6,185,000 | 10,652,000 | 3,026,000 | |||
other current liabilities | -2,941,000 | 2,207,000 | -1,456,000 | 3,797,000 | -3,699,000 | -839,000 | -134,000 | -2,507,000 | 6,729,000 | -2,931,000 | -2,751,000 | -4,186,000 | 2,305,000 | -1,030,000 | 2,878,000 | -4,834,000 | 4,266,000 | 930,000 | |||
non-current lease liabilities | -2,993,000 | -3,238,000 | -1,722,000 | -4,877,000 | -1,670,000 | -2,084,000 | -1,461,000 | -1,435,000 | -1,425,000 | -1,760,000 | -1,374,000 | -1,051,000 | -891,000 | -1,135,000 | -911,000 | -857,000 | -783,000 | -543,000 | |||
other non-current liabilities | 71,000 | 161,000 | -320,000 | 137,000 | 245,000 | 556,000 | 589,000 | 575,000 | 489,000 | -3,000 | 471,000 | -290,000 | 49,000 | 629,000 | 12,000 | 16,000 | 11,000 | 373,000 | |||
net cash from operating activities | -50,332,000 | -64,531,000 | -23,523,000 | -23,242,000 | -54,225,000 | -2,387,000 | -30,915,000 | -13,000,000 | -2,588,000 | -42,217,000 | -25,201,000 | -6,064,000 | -25,385,000 | -18,946,000 | -22,997,000 | -38,256,000 | -26,339,000 | -21,914,000 | |||
capital expenditures | -5,939,000 | -49,654,000 | -49,988,000 | -28,483,000 | -18,227,000 | -21,554,000 | -11,178,000 | -14,618,000 | -17,597,000 | -10,414,000 | -20,983,000 | -9,353,000 | -11,750,000 | -14,993,000 | -6,900,000 | -13,218,000 | -4,825,000 | -14,199,000 | |||
free cash flows | -56,271,000 | -114,185,000 | -73,511,000 | -51,725,000 | -72,452,000 | -23,941,000 | -42,093,000 | -27,618,000 | -20,185,000 | -52,631,000 | -46,184,000 | -15,417,000 | -37,135,000 | -33,939,000 | -29,897,000 | -51,474,000 | -31,164,000 | -36,113,000 | |||
cash flows from investing activities: | |||||||||||||||||||||
purchases of property, equipment and software | -27,065,000 | -49,654,000 | -45,912,000 | -32,042,000 | -28,677,000 | -21,554,000 | -11,018,000 | -15,344,000 | -19,177,000 | -10,414,000 | -21,047,000 | -10,572,000 | -12,674,000 | -14,993,000 | -8,349,000 | -12,828,000 | -6,242,000 | -14,252,000 | |||
proceeds on disposal of assets | 715,000 | 0 | 253,000 | 128,000 | 16,000 | 786,000 | 941,000 | ||||||||||||||
cash paid for business combinations, net of acquired cash | -8,021,000 | ||||||||||||||||||||
purchases of marketable securities | -91,328,000 | -87,539,000 | -59,455,000 | -43,686,000 | -84,639,000 | -12,613,000 | -36,274,000 | -33,915,000 | -79,359,000 | 0 | -75,266,000 | -55,606,000 | -76,394,000 | -79,714,000 | |||||||
maturities of marketable securities | 89,979,000 | 33,046,000 | 30,327,000 | 64,796,000 | 84,699,000 | 13,312,000 | 29,047,000 | 27,603,000 | 46,280,000 | 49,864,000 | 65,164,000 | 76,077,000 | 78,099,000 | ||||||||
net cash from investing activities | -35,720,000 | -104,147,000 | -207,228,000 | -7,421,000 | -28,601,000 | -17,926,000 | -17,304,000 | -10,841,000 | -52,256,000 | 61,171,000 | -31,964,000 | -6,220,000 | -10,969,000 | -73,223,000 | -188,713,000 | -12,313,000 | -71,830,000 | -80,687,000 | |||
cash flows from financing activities: | |||||||||||||||||||||
proceeds from atm equity offerings | 450,347,000 | 280,604,000 | |||||||||||||||||||
issuance costs related to atm equity offerings | -4,740,000 | -6,380,000 | |||||||||||||||||||
proceeds from the exercise of stock options | 1,081,000 | 33,000 | 2,160,000 | 331,000 | 48,000 | ||||||||||||||||
proceeds from employee stock purchase plan | 4,189,000 | 3,296,000 | 2,915,000 | 2,599,000 | 2,237,000 | 1,585,000 | 1,433,000 | 2,158,000 | 507,000 | 1,208,000 | 1,258,000 | 1,320,000 | 1,202,000 | 1,231,000 | 1,058,000 | 1,066,000 | 1,025,000 | ||||
proceeds from sale of employees restricted stock units to cover taxes | 52,337,000 | 32,687,000 | 39,944,000 | 23,405,000 | 17,310,000 | 20,263,000 | 5,721,000 | 4,151,000 | 5,119,000 | 3,605,000 | 4,589,000 | 4,723,000 | 3,078,000 | 2,579,000 | 4,585,000 | 3,161,000 | 20,841,000 | ||||
minimum tax withholding paid on behalf of employees for restricted stock units | -39,848,000 | -47,815,000 | -25,251,000 | -23,844,000 | -16,577,000 | -20,167,000 | -5,690,000 | -4,316,000 | -5,163,000 | -3,370,000 | -5,384,000 | -5,053,000 | -1,915,000 | -2,856,000 | -4,567,000 | -14,985,000 | -8,756,000 | ||||
proceeds from secured term loans | |||||||||||||||||||||
repayments on secured term loan | -3,895,000 | -8,314,000 | -2,894,000 | ||||||||||||||||||
payment of debt issuance costs | 0 | 0 | 0 | -278,000 | 0 | 0 | -979,000 | -11,226,000 | |||||||||||||
finance lease principal payments | -73,000 | -71,000 | -71,000 | -65,000 | -61,000 | -60,000 | 208,000 | -387,000 | -90,000 | -88,000 | -88,000 | -82,000 | -78,000 | -78,000 | -77,000 | -71,000 | -45,000 | ||||
net cash from financing activities | 463,293,000 | 189,537,000 | 475,686,000 | 290,545,000 | 115,503,000 | 183,000 | -444,000 | -1,764,000 | 258,707,000 | 2,506,000 | 860,000 | 1,945,000 | 2,058,000 | 472,000 | 2,135,000 | -15,010,000 | 14,444,000 | -1,840,000 | |||
effect of exchange rate changes on cash and cash equivalents | 237,000 | -24,000 | -1,213,000 | 855,000 | 272,000 | -1,360,000 | 904,000 | 378,000 | -519,000 | 482,000 | 43,000 | -609,000 | 127,000 | 1,281,000 | -767,000 | 4,432,000 | -574,000 | 2,727,000 | |||
net increase in cash and cash equivalents and restricted cash | 377,478,000 | 20,835,000 | 243,722,000 | 260,737,000 | 32,949,000 | -21,490,000 | -47,759,000 | -25,227,000 | 203,344,000 | -90,416,000 | -210,342,000 | -101,714,000 | |||||||||
cash and cash equivalents, and restricted cash, beginning of period | 833,545,000 | 0 | 0 | 0 | 275,302,000 | 0 | 0 | 0 | 166,434,000 | 0 | 0 | 0 | 245,871,000 | 0 | 0 | 0 | 692,075,000 | 0 | |||
cash and cash equivalents, and restricted cash, end of period | 1,211,023,000 | 20,835,000 | 243,722,000 | 260,737,000 | 308,251,000 | -21,490,000 | -47,759,000 | -25,227,000 | 369,778,000 | 21,942,000 | -56,262,000 | -10,948,000 | 211,702,000 | -90,416,000 | -210,342,000 | -61,147,000 | 607,776,000 | -101,714,000 | |||
supplemental disclosure of cash flow information: | |||||||||||||||||||||
cash paid for interest | 3,394,000 | 9,593,000 | 2,724,000 | 9,575,000 | 9,650,000 | 2,318,000 | 2,270,000 | 3,690,000 | 3,634,000 | 3,417,000 | 2,823,000 | 2,479,000 | 2,292,000 | 2,069,000 | |||||||
cash paid for income taxes | 255,000 | 145,000 | 214,000 | 214,000 | 77,000 | 377,000 | 26,000 | 187,000 | 72,000 | 315,000 | 490,000 | -220,000 | 2,248,000 | ||||||||
supplemental disclosure of noncash investing and financing activities: | |||||||||||||||||||||
unpaid purchases of property, equipment and software | 21,126,000 | -4,076,000 | 3,559,000 | 10,450,000 | -160,000 | 726,000 | 1,580,000 | 64,000 | 1,219,000 | 924,000 | 1,449,000 | -390,000 | 1,417,000 | 53,000 | |||||||
right-of-use assets obtained in exchange for new operating lease liabilities | 2,777,000 | 17,050,000 | 19,423,000 | 179,000 | 0 | 71,000 | 908,000 | 2,560,000 | 0 | 3,783,000 | 3,567,000 | ||||||||||
accrued issuance costs in connection with atm equity offerings | 685,000 | ||||||||||||||||||||
convertible senior notes, net and accrued interest settled by issuance of common stock | 115,872,000 | ||||||||||||||||||||
payable to sellers in connection with business combinations | 1,378,000 | ||||||||||||||||||||
loss on extinguishment of long-term debt | 0 | 0 | 0 | 1,330,000 | |||||||||||||||||
employee benefits payable | |||||||||||||||||||||
cash paid for business combinations and asset acquisitions, net of acquired cash | |||||||||||||||||||||
sale of marketable securities | 0 | 0 | |||||||||||||||||||
payment of contingent consideration | 0 | 0 | 0 | -1,000,000 | 0 | 0 | |||||||||||||||
purchase of capped calls related to issuance of convertible senior notes | 0 | 0 | 0 | -43,168,000 | |||||||||||||||||
proceeds from issuance of convertible senior notes | 0 | 0 | 0 | 355,000,000 | |||||||||||||||||
proceeds from secured term loan | 0 | 25,000,000 | |||||||||||||||||||
repayments on secured term loans | |||||||||||||||||||||
cash paid for business combination, net of acquired cash | |||||||||||||||||||||
issuance of common stock for payment of accrued bonus | 0 | 0 | 0 | 1,795,000 | 0 | 0 | 1,441,000 | ||||||||||||||
common stock issued in acquisition, at fair value | 0 | ||||||||||||||||||||
contingent consideration assumed at acquisition | |||||||||||||||||||||
proceeds from atm equity offering | 303,841,000 | 92,806,000 | |||||||||||||||||||
issuance costs related to atm equity offering | -7,408,000 | -2,088,000 | |||||||||||||||||||
accrued issuance costs in connection with atm equity offering | -527,000 | 615,000 | |||||||||||||||||||
accrued debt issuance costs | 979,000 | ||||||||||||||||||||
noncash income associated with liability-classified warrants | |||||||||||||||||||||
cash paid for business combinations and asset acquisitions, net of acquired cash and restricted cash | -2,032,000 | -815,000 | |||||||||||||||||||
proceeds from the exercise of stock options and public warrants | 216,000 | 943,000 | 151,000 | 485,000 | 1,037,000 | 771,000 | -404,000 | 1,136,000 | 1,763,000 | 1,379,000 | |||||||||||
tax payment for net settled option shares | 0 | 0 | |||||||||||||||||||
cash paid for asset acquisition | |||||||||||||||||||||
repayments on trinity loan agreement | -3,031,000 | -2,607,000 | -43,215,000 | ||||||||||||||||||
unpaid transaction costs | -2,214,000 | ||||||||||||||||||||
noncash expense associated with liability-classified warrants | 0 | 0 | 0 | -13,482,000 | -24,130,000 | ||||||||||||||||
proceeds from revolving line of credit | |||||||||||||||||||||
repayments on revolving line of credit | |||||||||||||||||||||
proceeds from business combination and pipe investment, net of transaction costs | -2,197,000 | ||||||||||||||||||||
repurchase of shares and options from management, net of amount recognized as compensation cost | |||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | -56,262,000 | -10,948,000 | -34,169,000 | -84,299,000 | |||||||||||||||||
common stocks issued in acquisition, at fair value | |||||||||||||||||||||
net exercise of public and private warrants into common stock | 0 | 0 | 44,739,000 | ||||||||||||||||||
cash paid for acquisitions, net of acquired cash and restricted cash | 0 | ||||||||||||||||||||
proceeds from long-term revolving line of credit | 0 | ||||||||||||||||||||
proceeds from long-term secured term loan | 0 | ||||||||||||||||||||
repayments on long-term revolving line of credit | 0 | ||||||||||||||||||||
net proceeds from issuance of series e-1 preferred stock | |||||||||||||||||||||
repayments of marketable securities | |||||||||||||||||||||
warrants assumed as part of business combination | 0 | ||||||||||||||||||||
prepaid expenses assumed as part of business combination | 33,000 | ||||||||||||||||||||
cash paid for acquisition, net of acquired cash and restricted cash | 515,000 | -65,588,000 | |||||||||||||||||||
payment of deferred transaction costs associated with planned reverse recapitalization transaction | |||||||||||||||||||||
supplemental disclosures of cash flow information: | |||||||||||||||||||||
deferred transaction costs in accrued expenses | |||||||||||||||||||||
stock compensation expense | 8,384,000 | ||||||||||||||||||||
amortization of inventory step-up | |||||||||||||||||||||
loss on debt extinguishment | 0 | ||||||||||||||||||||
cash paid for acquisitions, net of acquired cash | |||||||||||||||||||||
repurchase of shares and options from management | 0 | ||||||||||||||||||||
cash refunds/(paid) for income taxes | |||||||||||||||||||||
issuance of common stock warrants and accrued issuance costs in connection with loan and security agreement | |||||||||||||||||||||
issuance of common stock in connection with acquisition, at fair value | |||||||||||||||||||||
contingent consideration assumed at acquisitions | |||||||||||||||||||||
cash paid for acquisition, net of acquired cash | |||||||||||||||||||||
redeemable class a ordinary shares | |||||||||||||||||||||
numerator: earnings allocable to redeemable class a ordinary shares | |||||||||||||||||||||
interest income | 53 | 4,810 | |||||||||||||||||||
redeemable net earnings | 9,673 | -4,810 | |||||||||||||||||||
denominator: weighted-average redeemable class a ordinary shares | |||||||||||||||||||||
redeemable class a ordinary shares, basic and diluted | 0 | 32,000,000 | |||||||||||||||||||
earnings/basic and diluted redeemable class a ordinary shares | |||||||||||||||||||||
non-redeemable class b ordinary shares | |||||||||||||||||||||
numerator: net income minus redeemable net earnings | |||||||||||||||||||||
net income | 22,501,169 | -23,560,263 | |||||||||||||||||||
less: redeemable net earnings | |||||||||||||||||||||
non-redeemable net income | 22,501,116 | -23,565,073 | |||||||||||||||||||
denominator: weighted-average non-redeemable class b ordinary shares | |||||||||||||||||||||
non-redeemable class b ordinary shares, basic and diluted | 0 | 8,000,000 | |||||||||||||||||||
loss/basic and diluted non-redeemable class b ordinary shares | 2.82 | -2.95 | |||||||||||||||||||
net earnings | 4,810 |