Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (604) $ (1,429)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 15 17
Reduction in the carrying amount of right-of-use assets 21 21
Stock-based compensation 123 112
Goodwill impairment 0 1,000
Change in fair value of derivative liabilities 7 (103)
Accretion of discount on short-term investments (20) 0
Other operating activities (1) 1
Changes in operating assets and liabilities:    
Other current and non-current assets 8 51
Operating lease liabilities (20) (19)
Other current and non-current liabilities 6 (18)
Net cash used in operating activities (465) (367)
Cash flows from investing activities    
Purchases of property and equipment (11) (12)
Purchases of short-term investments (692) (1,220)
Maturities of short-term investments 1,035 466
Net cash provided by (used in) investing activities 332 (766)
Cash flows from financing activities    
Proceeds from issuance of common stock 835 12
Other financing activities (8) (2)
Net cash provided by financing activities 827 10
Net increase (decrease) in cash, cash equivalents, and restricted cash 694 (1,123)
Cash, cash equivalents, and restricted cash at beginning of the period 277 1,626
Cash, cash equivalents, and restricted cash at end of the period $ 971 $ 503