v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (65,341) $ (13,548)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,019 363
Amortization of deferred loan costs 2 0
Stock-based compensation 4,957 315
Loss on fair value of warrants 6,014 1,514
Loss on fair value of contingent earnout liabilities 31,232 0
Changes in assets and liabilities    
Accounts receivable 2,582 (4,814)
Inventories (16,302) 374
Contract assets (1,156) 2,549
Prepaid expenses and other current assets 5,036 324
Other assets 842 20
Accounts payable 1,880 2,894
Accrued expenses and other liabilities 2,707 979
Contract liabilities (2,866) 6,155
Other noncurrent liabilities (713) 233
Net cash used in operating activities (30,107) (2,642)
Cash flows from investing activities    
Purchase of property and equipment (4,060) (120)
Production of equipment for lease to customers (1,707) (3,326)
Purchases of available-for-sale investments (66,942) 0
Net cash used in investing activities (72,709) (3,446)
Cash flows from financing activities    
Proceeds from loan issuance 0 2,400
Repayment of property and equipment loan 0 (992)
Proceeds from convertible notes 0 5,000
Repayment of equipment loans (534) 0
Issuance of common stock upon exercise of stock options 167 39
Net cash (used in) provided by financing activities (367) 6,447
Effect of exchange rate changes on cash and cash equivalents 7 0
Net change in cash and cash equivalents (103,176) 359
Cash and cash equivalents and restricted cash at beginning of period 208,402 15,517
Cash and cash equivalents and restricted cash at end of period 105,226 15,876
Supplemental disclosure of cash flow information    
Cash paid for interest 86 120
Supplemental disclosure of non-cash information    
Issuance of common stock warrants in connection with financing 0 68
Transfers between inventories and property and equipment (636) 0
Transfers between inventories and property and equipment 150 0
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 104,426 15,876
Restricted cash (Other assets) 800 0
Total cash and cash equivalents and restricted cash $ 105,226 $ 15,876

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