Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 62,608 $ (26,086)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 2,108 692
Stock-based compensation 9,933 1,075
(Gain) Loss on fair value of warrants (17,651) 1,741
(Gain) on fair value of contingent earnout liabilities (98,995) 0
Changes in assets and liabilities    
Accounts receivable 961 (2,648)
Inventories (34,826) (1,279)
Contract assets (131) 2,873
Prepaid expenses and other current assets 7,049 (1,748)
Other assets 1,283 (2,156)
Accounts payable (415) 5,296
Accrued expenses and other liabilities 5,977 779
Contract liabilities (6,077) 7,190
Other noncurrent liabilities (617) 1,249
Net cash used in operating activities (68,793) (13,022)
Cash flows from investing activities    
Purchase of property and equipment (8,578) (601)
Production of equipment for lease to customers (2,563) (5,044)
Purchases of available-for-sale investments (87,655) 0
Proceeds from maturity of available-for-sale investments 4,000 0
Net cash used in investing activities (94,796) (5,645)
Cash flows from financing activities    
Proceeds from loan issuance 0 14,339
Repayment of term loan 0 (4,888)
Proceeds from convertible notes 0 5,000
Proceeds from equipment loans 0 3,200
Repayment of equipment loans (1,067) (1,636)
Issuance of common stock upon exercise of stock options 570 283
Net cash (used in) provided by financing activities (497) 16,298
Effect of exchange rate changes on cash and cash equivalents (7) 0
Net change in cash and cash equivalents (164,093) (2,369)
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 44,309 13,148
Supplemental disclosure of cash flow information    
Cash paid for interest 152 280
Supplemental disclosure of non-cash information    
Issuance of common stock warrants in connection with financing 0 134
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 43,509 13,148
Restricted cash (Other assets) 800 0
Total cash and cash equivalents and restricted cash $ 44,309 $ 13,148