Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (59,399) $ 62,608
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 3,026 2,108
Stock-based compensation 12,771 9,933
(Gain) loss on fair value of warrants 1,725 (17,651)
(Gain) loss on fair value of contingent earnout liabilities 7,810 (98,995)
Changes in assets and liabilities    
Accounts receivable (5,099) 961
Inventories 3,538 (34,826)
Contract assets (8,450) (131)
Prepaid expenses and other current assets 3,609 7,049
Other assets 292 1,283
Accounts payable (1,716) (415)
Accrued expenses and other liabilities (6,249) 5,977
Contract liabilities (9,422) (6,077)
Other noncurrent liabilities (1,214) (617)
Net cash used in operating activities (58,778) (68,793)
Cash flows from investing activities    
Purchase of property and equipment (690) (8,578)
Production of equipment for lease to customers (3,694) (2,563)
Purchases of available-for-sale investments 0 (87,655)
Proceeds from maturity of available-for-sale investments 29,984 4,000
Net cash provided by (used in) investing activities 25,600 (94,796)
Cash flows from financing activities    
Proceeds from ATM offering, net of issuance costs 15,591 0
Proceeds from revolver facility 14,000 0
Proceeds from equipment loans 1,600 0
Repayment of equipment loans (1,467) (1,067)
Issuance of common stock upon exercise of stock options 350 570
Net cash provided by (used in) financing activities 30,074 (497)
Effect of exchange rate changes on cash and cash equivalents (11) (7)
Net change in cash and cash equivalents (3,115) (164,093)
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 29,668 44,309
Supplemental disclosure of cash flow information    
Cash paid for interest 564 152
Supplemental disclosure of non-cash information    
Unpaid liabilities related to property and equipment 177 134
Equipment for lease to customers returned to inventory 4,364 1,308
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 28,868 43,509
Restricted cash (Other assets) 800 800
Total cash and cash equivalents and restricted cash $ 29,668 $ 44,309