Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (208) $ (165)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 5
Reduction in the carrying amount of right-of-use assets 7 7
Stock-based compensation 34 36
Change in fair value of derivative liabilities 9 (12)
Accretion of discount on investments (5) (8)
Changes in operating assets and liabilities:    
Other current and non-current assets (1) (8)
Operating lease liabilities (7) (6)
Other current and non-current liabilities 23 1
Net cash used in operating activities (142) (150)
Cash flows from investing activities    
Purchases of property and equipment (8) (8)
Purchases of investments (288) (145)
Maturities and sales of investments 315 254
Net cash provided by investing activities 19 101
Cash flows from financing activities    
Proceeds from issuance of common stock 85 3
Other financing activities (3) (1)
Net cash provided by financing activities 82 2
Net decrease in cash, cash equivalents, and restricted cash (41) (47)
Cash, cash equivalents, and restricted cash at beginning of the period 227 518
Cash, cash equivalents, and restricted cash at end of the period $ 186 $ 471