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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2024
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number: 001-38959
BridgeBio Pharma, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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84-1850815 |
(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
3160 Porter Drive, Suite 250, Palo Alto, CA |
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94304 |
(Address of principal executive offices) |
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(Zip Code) |
(650) 391-9740
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
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BBIO |
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The Nasdaq Global Select Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
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Large accelerated filer |
☒ |
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Accelerated filer |
☐ |
Non-accelerated filer |
☐ |
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Smaller reporting company |
☐ |
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Emerging growth company |
☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of April 25, 2024, the registrant had 187,129,260 shares of common stock, $0.001 par value per share, outstanding.
Table of Contents
BRIDGEBIO PHARMA, INC.
Condensed Consolidated Balance Sheets
(in thousands, except shares and per share amounts)
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March 31, |
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December 31, |
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2024 |
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2023 |
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(Unaudited) |
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(1) |
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Assets |
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Current assets: |
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|
|
Cash and cash equivalents |
|
$ |
475,222 |
|
|
$ |
375,935 |
|
Marketable securities |
|
|
44,469 |
|
|
|
— |
|
Investments in equity securities |
|
|
— |
|
|
|
58,949 |
|
Receivables from licensing and collaboration agreements |
|
|
235,494 |
|
|
|
1,751 |
|
Restricted cash |
|
|
131 |
|
|
|
16,653 |
|
Prepaid expenses and other current assets |
|
|
28,108 |
|
|
|
24,305 |
|
Total current assets |
|
|
783,424 |
|
|
|
477,593 |
|
Property and equipment, net |
|
|
11,414 |
|
|
|
11,816 |
|
Operating lease right-of-use assets |
|
|
8,052 |
|
|
|
8,027 |
|
Intangible assets, net |
|
|
25,721 |
|
|
|
26,319 |
|
Other assets |
|
|
20,722 |
|
|
|
22,625 |
|
Total assets |
|
$ |
849,333 |
|
|
$ |
546,380 |
|
Liabilities, Redeemable Convertible Noncontrolling Interests and Stockholders’ Deficit |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
4,728 |
|
|
$ |
10,655 |
|
Accrued compensation and benefits |
|
|
32,395 |
|
|
|
57,370 |
|
Accrued research and development liabilities |
|
|
40,933 |
|
|
|
29,765 |
|
Operating lease liabilities, current portion |
|
|
4,544 |
|
|
|
4,128 |
|
Deferred revenue, current portion |
|
|
13,957 |
|
|
|
6,096 |
|
Accrued professional and other accrued liabilities |
|
|
44,920 |
|
|
|
35,830 |
|
Total current liabilities |
|
|
141,477 |
|
|
|
143,844 |
|
2029 Notes, net |
|
|
737,392 |
|
|
|
736,905 |
|
2027 Notes, net |
|
|
543,823 |
|
|
|
543,379 |
|
Term loan, net |
|
|
434,717 |
|
|
|
446,445 |
|
Operating lease liabilities, net of current portion |
|
|
8,297 |
|
|
|
8,981 |
|
Deferred revenue, net of current portion |
|
|
19,890 |
|
|
|
3,727 |
|
Other long-term liabilities |
|
|
595 |
|
|
|
5,634 |
|
Total liabilities |
|
|
1,886,191 |
|
|
|
1,888,915 |
|
Commitments and contingencies (Note 8) |
|
|
|
|
|
|
Redeemable convertible noncontrolling interests |
|
|
525 |
|
|
|
478 |
|
Stockholders’ deficit: |
|
|
|
|
|
|
Undesignated preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued and outstanding |
|
|
— |
|
|
|
— |
|
Common stock, $0.001 par value; 500,000,000 shares authorized; 193,314,505 shares issued and 187,122,744 shares outstanding as of March 31, 2024, 181,274,712 shares issued and 175,082,951 shares outstanding as of December 31, 2023 |
|
|
193 |
|
|
|
181 |
|
Treasury stock, at cost; 6,191,761 shares as of March 31, 2024 and December 31, 2023 |
|
|
(275,000 |
) |
|
|
(275,000 |
) |
Additional paid-in capital |
|
|
1,820,994 |
|
|
|
1,481,032 |
|
Accumulated other comprehensive income |
|
|
2 |
|
|
|
31 |
|
Accumulated deficit |
|
|
(2,595,717 |
) |
|
|
(2,560,501 |
) |
Total BridgeBio stockholders’ deficit |
|
|
(1,049,528 |
) |
|
|
(1,354,257 |
) |
Noncontrolling interests |
|
|
12,145 |
|
|
|
11,244 |
|
Total stockholders’ deficit |
|
|
(1,037,383 |
) |
|
|
(1,343,013 |
) |
Total liabilities, redeemable convertible noncontrolling interests and stockholders’ deficit |
|
$ |
849,333 |
|
|
$ |
546,380 |
|
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
(1)The condensed consolidated balance sheet as of December 31, 2023 is derived from the audited consolidated financial statements as of that date.
BRIDGEBIO PHARMA, INC.
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands, except shares and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2024 |
|
|
2023 |
|
Revenue |
|
$ |
211,120 |
|
|
$ |
1,826 |
|
Operating costs and expenses: |
|
|
|
|
|
|
Cost of revenue |
|
|
598 |
|
|
|
651 |
|
Research and development |
|
|
140,972 |
|
|
|
92,861 |
|
Selling, general and administrative |
|
|
65,807 |
|
|
|
31,108 |
|
Restructuring, impairment and related charges |
|
|
3,400 |
|
|
|
3,369 |
|
Total operating costs and expenses |
|
|
210,777 |
|
|
|
127,989 |
|
Income (loss) from operations |
|
|
343 |
|
|
|
(126,163 |
) |
Other expense, net: |
|
|
|
|
|
|
Interest income |
|
|
4,075 |
|
|
|
4,153 |
|
Interest expense |
|
|
(23,471 |
) |
|
|
(20,121 |
) |
Loss on extinguishment of debt |
|
|
(26,590 |
) |
|
|
— |
|
Other income (expense), net |
|
|
9,483 |
|
|
|
(601 |
) |
Total other expense, net |
|
|
(36,503 |
) |
|
|
(16,569 |
) |
Net loss |
|
|
(36,160 |
) |
|
|
(142,732 |
) |
Net loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests |
|
|
944 |
|
|
|
2,576 |
|
Net loss attributable to common stockholders of BridgeBio |
|
$ |
(35,216 |
) |
|
$ |
(140,156 |
) |
Net loss per share attributable to common stockholders of BridgeBio, basic and diluted |
|
$ |
(0.20 |
) |
|
$ |
(0.92 |
) |
Weighted-average shares used in computing net loss per share attributable to common stockholders of BridgeBio, basic and diluted |
|
|
178,705,310 |
|
|
|
152,645,635 |
|
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
BRIDGEBIO PHARMA, INC.
Condensed Consolidated Statements of Comprehensive Loss
(Unaudited)
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2024 |
|
|
2023 |
|
Net loss |
|
$ |
(36,160 |
) |
|
$ |
(142,732 |
) |
Other comprehensive loss: |
|
|
|
|
|
|
Unrealized gains (losses) on available-for-sale securities |
|
|
(29 |
) |
|
|
316 |
|
Comprehensive loss |
|
|
(36,189 |
) |
|
|
(142,416 |
) |
Comprehensive loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests |
|
|
944 |
|
|
|
2,576 |
|
Comprehensive loss attributable to common stockholders of BridgeBio |
|
$ |
(35,245 |
) |
|
$ |
(139,840 |
) |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
BRIDGEBIO PHARMA, INC.
Condensed Consolidated Statements of Redeemable Convertible Noncontrolling Interests and Stockholders’ Deficit
(Unaudited)
(in thousands, except shares and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redeemable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
Convertible |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional |
|
|
Other |
|
|
|
|
|
BridgeBio |
|
|
Non- |
|
|
Total |
|
|
Noncontrolling |
|
|
|
Common Stock |
|
|
Treasury Stock |
|
|
Paid-In |
|
|
Comprehensive |
|
|
Accumulated |
|
|
Stockholders’ |
|
|
controlling |
|
|
Stockholders’ |
|
|
Interests |
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Income |
|
|
Deficit |
|
|
Deficit |
|
|
Interests |
|
|
Deficit |
|
Balances as of December 31, 2023 (2) |
$ |
478 |
|
|
|
|
175,082,951 |
|
|
$ |
181 |
|
|
|
6,191,761 |
|
|
$ |
(275,000 |
) |
|
$ |
1,481,032 |
|
|
$ |
31 |
|
|
$ |
(2,560,501 |
) |
|
$ |
(1,354,257 |
) |
|
$ |
11,244 |
|
|
$ |
(1,343,013 |
) |
Issuance of shares under equity compensation plans |
|
— |
|
|
|
|
1,049,580 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
536 |
|
|
|
— |
|
|
|
— |
|
|
|
537 |
|
|
|
— |
|
|
|
537 |
|
Issuance of common stock under ESPP |
|
— |
|
|
|
|
93,344 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,364 |
|
|
|
— |
|
|
|
— |
|
|
|
2,364 |
|
|
|
— |
|
|
|
2,364 |
|
Repurchase of RSU shares to satisfy tax withholding |
|
— |
|
|
|
|
(78,915 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,936 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2,936 |
) |
|
|
— |
|
|
|
(2,936 |
) |
Stock-based compensation |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
27,125 |
|
|
|
— |
|
|
|
— |
|
|
|
27,125 |
|
|
|
— |
|
|
|
27,125 |
|
Issuance of common stock under public offerings, net |
|
— |
|
|
|
|
10,975,784 |
|
|
|
11 |
|
|
|
— |
|
|
|
— |
|
|
|
314,730 |
|
|
|
— |
|
|
|
— |
|
|
|
314,741 |
|
|
|
— |
|
|
|
314,741 |
|
Issuance of noncontrolling interests |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35 |
|
|
|
35 |
|
Transfers from (to) noncontrolling interests |
|
1,278 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,857 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1,857 |
) |
|
|
579 |
|
|
|
(1,278 |
) |
Unrealized loss on available-for-sale securities |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(29 |
) |
|
|
— |
|
|
|
(29 |
) |
|
|
— |
|
|
|
(29 |
) |
Net income (loss) |
|
(1,231 |
) |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(35,216 |
) |
|
|
(35,216 |
) |
|
|
287 |
|
|
|
(34,929 |
) |
Balances as of March 31, 2024 |
$ |
525 |
|
|
|
|
187,122,744 |
|
|
$ |
193 |
|
|
|
6,191,761 |
|
|
$ |
(275,000 |
) |
|
$ |
1,820,994 |
|
|
$ |
2 |
|
|
$ |
(2,595,717 |
) |
|
$ |
(1,049,528 |
) |
|
$ |
12,145 |
|
|
$ |
(1,037,383 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redeemable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
Convertible |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional |
|
|
Other |
|
|
|
|
|
BridgeBio |
|
|
Non- |
|
|
Total |
|
|
Noncontrolling |
|
|
|
Common Stock |
|
|
Treasury Stock |
|
|
Paid-In |
|
|
Comprehensive |
|
|
Accumulated |
|
|
Stockholders’ |
|
|
controlling |
|
|
Stockholders’ |
|
|
Interests |
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Loss |
|
|
Deficit |
|
|
Deficit |
|
|
Interests |
|
|
Deficit |
|
Balances as of December 31, 2022 (2) |
$ |
(1,589 |
) |
|
|
|
150,625,572 |
|
|
$ |
157 |
|
|
|
6,191,761 |
|
|
$ |
(275,000 |
) |
|
$ |
938,703 |
|
|
$ |
(328 |
) |
|
$ |
(1,918,149 |
) |
|
$ |
(1,254,617 |
) |
|
$ |
11,282 |
|
|
$ |
(1,243,335 |
) |
Issuance of shares under equity compensation plans |
|
— |
|
|
|
|
834,427 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
192 |
|
|
|
— |
|
|
|
— |
|
|
|
193 |
|
|
|
— |
|
|
|
193 |
|
Issuance of common stock under ESPP |
|
— |
|
|
|
|
192,200 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,809 |
|
|
|
— |
|
|
|
— |
|
|
|
1,809 |
|
|
|
— |
|
|
|
1,809 |
|
Repurchase of RSU shares to satisfy tax withholding |
|
— |
|
|
|
|
(40,491 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(512 |
) |
|
|
— |
|
|
|
— |
|
|
|
(512 |
) |
|
|
— |
|
|
|
(512 |
) |
Stock-based compensation |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
24,330 |
|
|
|
— |
|
|
|
— |
|
|
|
24,330 |
|
|
|
— |
|
|
|
24,330 |
|
Issuance of common stock under public offerings, net |
|
— |
|
|
|
|
8,823,530 |
|
|
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
143,007 |
|
|
|
— |
|
|
|
— |
|
|
|
143,016 |
|
|
|
— |
|
|
|
143,016 |
|
Issuance of noncontrolling interests |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
42 |
|
|
|
42 |
|
Transfers from (to) noncontrolling interests |
|
1,633 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,843 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2,843 |
) |
|
|
1,210 |
|
|
|
(1,633 |
) |
Deconsolidation of PellePharm |
|
899 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,949 |
|
|
|
— |
|
|
|
850 |
|
|
|
2,799 |
|
|
|
1,151 |
|
|
|
3,950 |
|
Unrealized gain on available-for-sale securities |
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
316 |
|
|
|
— |
|
|
|
316 |
|
|
|
— |
|
|
|
316 |
|
Net loss |
|
(1,147 |
) |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(140,156 |
) |
|
|
(140,156 |
) |
|
|
(1,429 |
) |
|
|
(141,585 |
) |
Balances as of March 31, 2023 |
$ |
(204 |
) |
|
|
|
160,435,238 |
|
|
$ |
167 |
|
|
|
6,191,761 |
|
|
$ |
(275,000 |
) |
|
$ |
1,106,635 |
|
|
$ |
(12 |
) |
|
$ |
(2,057,455 |
) |
|
$ |
(1,225,665 |
) |
|
$ |
12,256 |
|
|
$ |
(1,213,409 |
) |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
(2)The consolidated balances as of December 31, 2023 and 2022 are derived from the audited consolidated financial statements as of those dates.
BRIDGEBIO PHARMA, INC.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2024 |
|
|
2023 |
|
Operating activities: |
|
|
|
|
|
|
Net loss |
|
$ |
(36,160 |
) |
|
$ |
(142,732 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
Loss on extinguishment of debt |
|
|
26,590 |
|
|
|
— |
|
Stock-based compensation |
|
|
17,057 |
|
|
|
21,907 |
|
Accretion of debt |
|
|
2,015 |
|
|
|
2,338 |
|
Depreciation and amortization |
|
|
1,596 |
|
|
|
1,633 |
|
Noncash lease expense |
|
|
1,069 |
|
|
|
1,032 |
|
Accrual of payment-in-kind interest on term loan |
|
|
— |
|
|
|
3,339 |
|
Loss on deconsolidation of PellePharm |
|
|
— |
|
|
|
1,241 |
|
Gain from investment in equity securities, net |
|
|
(8,136 |
) |
|
|
(964 |
) |
Other noncash adjustments |
|
|
1,631 |
|
|
|
(314 |
) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
Receivables from licensing and collaboration agreements |
|
|
(233,743 |
) |
|
|
6,318 |
|
Prepaid expenses and other current assets |
|
|
(3,345 |
) |
|
|
(3,542 |
) |
Other assets |
|
|
444 |
|
|
|
(483 |
) |
Accounts payable |
|
|
(5,927 |
) |
|
|
(3,800 |
) |
Accrued compensation and benefits |
|
|
(14,969 |
) |
|
|
(18,369 |
) |
Accrued research and development liabilities |
|
|
11,168 |
|
|
|
(2,556 |
) |
Operating lease liabilities |
|
|
(1,595 |
) |
|
|
(1,250 |
) |
Deferred revenue |
|
|
24,024 |
|
|
|
(1,748 |
) |
Accrued professional and other liabilities |
|
|
(1,256 |
) |
|
|
(6,372 |
) |
Net cash used in operating activities |
|
|
(219,537 |
) |
|
|
(144,322 |
) |
Investing activities: |
|
|
|
|
|
|
Purchases of marketable securities |
|
|
(44,395 |
) |
|
|
— |
|
Maturities of marketable securities |
|
|
— |
|
|
|
18,000 |
|
Purchases of investments in equity securities |
|
|
(20,271 |
) |
|
|
(47,474 |
) |
Proceeds from sales of investments in equity securities |
|
|
63,229 |
|
|
|
42,287 |
|
Proceeds from special cash dividends received from investments in equity securities |
|
|
25,682 |
|
|
|
— |
|
Payment for an intangible asset |
|
|
(797 |
) |
|
|
— |
|
Purchases of property and equipment |
|
|
(695 |
) |
|
|
(12 |
) |
Decrease in cash and cash equivalents resulting from deconsolidation of PellePharm |
|
|
— |
|
|
|
(503 |
) |
Net cash provided by investing activities |
|
|
22,753 |
|
|
|
12,298 |
|
Financing activities: |
|
|
|
|
|
|
Proceeds from term loan under Financing Agreement |
|
|
450,000 |
|
|
|
— |
|
Issuance costs and discounts associated with term loan under Financing Agreement |
|
|
(12,254 |
) |
|
|
— |
|
Repayment of term loan under Loan and Security Agreement |
|
|
(473,417 |
) |
|
|
— |
|
Proceeds from issuance of common stock through public offerings, net |
|
|
315,254 |
|
|
|
143,016 |
|
Proceeds from BridgeBio common stock issuances under ESPP |
|
|
2,364 |
|
|
|
1,809 |
|
Proceeds from stock option exercises, net of repurchases |
|
|
537 |
|
|
|
193 |
|
Repurchase of RSU shares to satisfy tax withholding |
|
|
(2,936 |
) |
|
|
(512 |
) |
Other financing activities |
|
|
— |
|
|
|
5,743 |
|
Net cash provided by financing activities |
|
|
279,548 |
|
|
|
150,249 |
|
Net increase in cash, cash equivalents and restricted cash |
|
|
82,764 |
|
|
|
18,225 |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
|
394,732 |
|
|
|
|