Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (51,344) $ (78,990)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 3,944 6,427
Amortization of debt discount and deferred financing costs 14,541 0
Stock-based compensation 13,041 19,486
(Gain) loss on fair value of warrants (31,910) 138
(Gain) loss on fair value of contingent earnout liabilities (1,445) (3,000)
Non-cash cost of issuance of common stock warrants 7,951 0
Realized loss on available for sale securities 23 0
Loss on fair value of debt derivatives 0 3,164
Loss on debt extinguishment 0 253
Changes in operating assets and liabilities    
Accounts receivable (630) (3,412)
Inventories 1,704 (3,739)
Contract assets 3,478 (8,328)
Prepaid expenses and other current assets 2,226 3,503
Other assets 3,618 1,503
Accounts payable 1,023 (1,556)
Accrued expenses and other liabilities (1,133) (4,382)
Contract liabilities 6,367 (10,347)
Other noncurrent liabilities (1,919) (1,829)
Net cash used in operating activities (30,465) (81,109)
Cash flows from investing activities    
Purchase of property and equipment (28) (1,072)
Production of equipment for lease to customers 0 (2,965)
Proceeds from the sale of available for sale securities 3,172  
Proceeds from maturity of available-for-sale investments 3,500 35,092
Net cash provided by investing activities 6,644 31,055
Cash flows from financing activities    
Proceeds from convertible note, net of issuance costs 0 65,736
Proceeds from ATM offering, net of issuance costs 0 18,423
Proceeds from revolver facility 0 14,000
Proceeds from equipment loans 0 1,600
Repayment of revolver facility 0 (17,000)
Repayment of equipment loans 0 (6,956)
Proceeds from capital raise, net of issuance costs 1,693  
Proceeds from BEPO Offering, net of issuance costs 10,700 0
Repayment of secured notes (11,750) 0
Issuance of common stock upon exercise of stock options 315 410
Net cash provided by financing activities 958 76,213
Effect of exchange rate changes on cash and cash equivalents 6 (11)
Net change in cash and cash equivalents (22,857) 26,148
Cash and cash equivalents and restricted cash at beginning of period 25,294 32,783
Cash and cash equivalents and restricted cash at end of period 2,437 58,931
Supplemental disclosure of cash flow information    
Cash paid for interest 1,181 1,123
Supplemental schedule of non-cash investing and financing activities    
Unpaid liabilities related to property and equipment 0 27
Equipment for lease to customers returned to inventory 2,234 4,198
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 1,637 58,131
Restricted cash (Other assets) 800 800
Total cash and cash equivalents and restricted cash $ 2,437 $ 58,931