Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (36,198) $ (65,341)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,560 1,021
Stock-based compensation 6,236 4,957
Loss on fair value of warrants 2,553 6,014
Loss on fair value of contingent earnout liabilities 9,653 31,232
Changes in assets and liabilities    
Accounts receivable (5,162) 2,582
Inventories (1,425) (16,302)
Contract assets (1,251) (1,156)
Prepaid expenses and other current assets 2,776 5,036
Other assets 247 842
Accounts payable (2,694) 1,880
Accrued expenses and other liabilities (1,848) 2,707
Contract liabilities (4,583) (2,866)
Other noncurrent liabilities (698) (713)
Net cash used in operating activities (30,834) (30,107)
Cash flows from investing activities    
Purchase of property and equipment (403) (4,060)
Production of equipment for lease to customers (135) (1,707)
Purchases of available-for-sale investments 0 (66,942)
Proceeds from maturity of available-for-sale investments 21,500 0
Net cash provided by (used in) investing activities 20,962 (72,709)
Cash flows from financing activities    
Proceeds from ATM offering, net of issuance costs 10,458 0
Proceeds from revolver facility 5,000 0
Repayment of equipment loans (734) (534)
Issuance of common stock upon exercise of stock options 310 167
Net cash provided by (used in) financing activities 15,034 (367)
Effect of exchange rate changes on cash and cash equivalents (6) 7
Net change in cash and cash equivalents 5,156 (103,176)
Cash and cash equivalents and restricted cash at beginning of period 32,783 208,402
Cash and cash equivalents and restricted cash at end of period 37,939 105,226
Supplemental disclosure of cash flow information    
Cash paid for interest 220 86
Supplemental disclosure of non-cash information    
Unpaid liabilities related to property and equipment (16) (636)
Property, Plant and Equipment, Transfers and Changes 0 150
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 37,139 104,426
Restricted cash (Other assets) 800 800
Total cash and cash equivalents and restricted cash $ 37,939 $ 105,226