| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net loss | ||||||
-950,578 | -674,033 | -93,299 | -119,217 | -57,102 | -18,546 | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization expense | ||||||
18,617 | 10,388 | 4,758 | 1,909 | 1,545 | 1,557 | |
Share-based compensation expenses | ||||||
134,154 | 87,127 | 42,863 | 10,625 | 10,211 | 6,637 | |
Acquired in-process research and development | ||||||
69,000 | 70,000 | 0 | 0 | - | - | |
Gain on debt extinguishment | ||||||
- | - | - | - | - | 2,883 | |
Changes in fair value of financial instruments | ||||||
- | - | - | -1,514 | -1,826 | -2,760 | |
Loss on disposal of property and equipment | ||||||
- | - | - | 0 | -5 | -53 | |
Non-cash interest expense | ||||||
8,046 | 7,820 | 7,035 | 121 | 1,095 | 3,265 | |
Deferred income tax benefits | ||||||
-9,232 | -21,949 | -5,845 | -768 | - | - | |
Other items, net | ||||||
-9,443 | -9,856 | 41 | - | -314 | - | |
Realized gain on available-for-sale securities | ||||||
- | - | - | -1,415 | - | - | |
Non-cash amortization of bond discount | ||||||
- | - | - | 0 | - | - | |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
29,822 | 11,628 | 29,428 | 0 | - | - | |
Unbilled receivable | ||||||
- | - | - | 0 | - | - | |
Inventories | ||||||
12,311 | 5,312 | 10,930 | 0 | - | - | |
Prepaid expenses and other current assets | ||||||
-45 | 38,607 | 28,880 | 2,070 | 2,990 | 2,285 | |
Operating lease right-of-use assets | ||||||
11,484 | - | - | - | - | - | |
Other non-current assets | ||||||
20,782 | 40,228 | 29,701 | -112 | 565 | 190 | |
Accounts payable | ||||||
2,224 | 23,470 | 55,298 | 2,707 | 6,186 | 731 | |
Advances from customers | ||||||
- | - | - | - | - | 1,046 | |
Accrued expenses and other payables | ||||||
64,030 | 50,543 | 24,978 | 13,946 | 7,350 | -761 | |
Tax payable | ||||||
7,566 | -3,355 | 7,426 | 804 | - | - | |
Deferred revenue | ||||||
-27,982 | -9,059 | 37,041 | -1,070 | 182 | -20 | |
Deferred revenue | ||||||
- | - | - | - | -7,836 | - | |
Operating lease liabilities | ||||||
8,482 | 16,962 | 31,395 | 459 | -64 | -58 | |
Other long-term liabilities | ||||||
9,201 | - | - | - | - | - | |
Net cash used in operating activities | ||||||
-750,269 | -547,717 | 12,752 | -89,513 | -39,843 | -8,694 | |
Purchases of property, plant and equipment | ||||||
89,612 | 70,283 | 46,374 | 23,502 | 5,314 | 654 | |
Purchase of intangible assets | ||||||
0 | 553 | 0 | 0 | - | - | |
Payment for asset acquisition, net of cash acquired | ||||||
0 | 38,298 | 0 | 0 | - | - | |
Payment for the acquisition of land use right | ||||||
0 | 0 | 12,354 | 0 | - | - | |
Cash acquired in business combination, net of cash paid | ||||||
0 | 0 | 19,916 | 0 | - | - | |
Payments to Acquire Debt Securities, Available-for-sale | ||||||
1,169,300 | 2,635,686 | 741,296 | 382,093 | 119,291 | 30,646 | |
Proceeds from sale or maturity of investments | ||||||
1,882,075 | 2,177,207 | 423,789 | 183,743 | 65,698 | 102 | |
Purchase of in-process research and development | ||||||
69,000 | 70,000 | 0 | 0 | - | - | |
Proceeds from disposal of property and equipment | ||||||
- | - | - | 4 | 1 | - | |
Net cash (used in) provided by investing activities | ||||||
554,163 | -637,613 | -356,319 | -221,848 | -58,906 | -33,641 | |
Financing activities: | ||||||
Proceeds from sale of ordinary shares, net of cost | ||||||
0 | 758,001 | 189,191 | 368,877 | - | - | |
Acquisition of non-controlling interest | ||||||
- | - | - | - | - | 2,443 | |
Payment of public offering cost | ||||||
0 | 414 | 674 | 2,218 | - | - | |
Proceeds from public offering and HK IPO, net of underwriter discount | ||||||
0 | 875,368 | 0 | 0 | - | - | |
Payment of public offering and HK IPO costs | ||||||
0 | 5,659 | 0 | 0 | - | - | |
Proceeds from issuance of convertible preferred shares | ||||||
- | - | - | - | 97,350 | 35,500 | |
Proceeds from sale of ordinary shares, net of cost | ||||||
0 | 0 | 149,928 | 0 | - | - | |
Proceeds from long-term bank loan | ||||||
67,489 | 42,315 | 0 | 12,048 | 6,175 | - | |
Repayment of long-term bank loans | ||||||
32,813 | 8,736 | 0 | 0 | - | - | |
Proceeds from issuance of convertible promissory notes | ||||||
- | - | - | - | - | 25 | |
Proceeds from issuance of secured guaranteed convertible promissory note | ||||||
- | - | - | - | - | 17,500 | |
Proceeds from short-term bank loan | ||||||
0 | 0 | 2,470 | 0 | - | 322 | |
Repayment of short-term loan | ||||||
0 | 0 | 2,470 | 0 | 322 | - | |
Capital contribution from noncontrolling interest | ||||||
4,000 | 0 | 14,527 | 0 | - | - | |
Proceeds from shareholder loan | ||||||
0 | 0 | 132,757 | 0 | - | 103 | |
Repayment to related party | ||||||
- | - | - | - | - | 1,285 | |
Proceeds from exercise of warrants and rental deferral option | ||||||
- | - | - | 2,115 | - | 80 | |
Proceeds from option exercises and employee share purchase plan | ||||||
47,004 | 29,662 | 4,627 | 80 | 77 | - | |
Payment of convertible preferred shares issuance cost | ||||||
- | - | - | - | 75 | 80 | |
Net cash provided by financing activities | ||||||
85,680 | 1,690,537 | 490,356 | 380,902 | 103,205 | 52,165 | |
Effect of foreign exchange rate changes, net | ||||||
-9,512 | -4,096 | 5,299 | 104 | -485 | 142 | |
Net increase in cash, cash equivalents, and restricted cash | ||||||
-119,938 | 501,111 | 152,088 | 69,645 | 3,971 | 9,972 | |
Supplemental cash flow information: | ||||||
Income taxes paid | ||||||
8,984 | 12,361 | 29,286 | 25 | - | - | |
Interest paid | ||||||
4,315 | 2,209 | 1,260 | 826 | 134 | 30 | |
Supplemental non-cash information: | ||||||
Discount provided on sale of ordinary shares for business combination | ||||||
0 | 0 | 23,606 | 0 | - | - | |
Conversion of senior promissory note | ||||||
- | - | - | 14,693 | - | - | |
Conversion of deferred rental | ||||||
- | - | - | 980 | - | - | |
Conversion of convertible preferred shares | ||||||
- | - | - | 176,084 | - | - | |
Exercise of warrants and option | ||||||
- | - | - | 3,687 | - | - | |
Follow-on public offering costs accrued in accounts payable | ||||||
- | - | - | 269 | - | - | |
Repayment of subordinated convertible promissory note, convertible promissory notes and secured guaranteed convertible promissory note | ||||||
- | - | - | - | - | 33,730 | |
Repayment of due to related parties | ||||||
- | - | - | - | - | 8,204 | |
Acquisitions of equipment included in accounts payable | ||||||
29,086 | 22,105 | 2,215 | 2,153 | 23 | 7 | |
Purchase of in-process research and development included in accounts payable | ||||||
0 | 19,000 | 0 | 0 | - | - | |
Changes in operating assets and liabilities adjusted through accumulated deficit | ||||||
0 | 2,291 | 0 | 0 | - | - | |