Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (76,795) $ (12,587)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 4,516 3,328
Stock-based compensation 19,486 15,090
(Gain) loss on fair value of warrants 138 (11,039)
Gain on fair value of contingent earnout liabilities (3,000) (58,110)
Loss on fair value of debt derivatives 3,648 0
Loss on debt extinguishment 253 0
Changes in assets and liabilities    
Accounts receivable (3,412) (8,144)
Inventories (3,739) (41,807)
Contract assets (9,096) (2,096)
Prepaid expenses and other current assets 3,503 7,342
Other assets 1,503 1,970
Accounts payable (1,556) 1,177
Accrued expenses and other liabilities (4,382) 10,148
Contract liabilities (10,347) 3,789
Other noncurrent liabilities (1,829) (1,215)
Net cash used in operating activities (81,109) (92,154)
Cash flows from investing activities    
Purchase of property and equipment (1,072) (12,228)
Production of equipment for lease to customers (2,965) (4,174)
Purchases of available-for-sale investments 0 (87,655)
Proceeds from maturity of available-for-sale investments 35,092 29,550
Net cash provided by (used in) investing activities 31,055 (74,507)
Cash flows from financing activities    
Proceeds from loan refinance, net of issuance costs 0 6,664
Repayment of loans in connection with loan refinance 0 (8,089)
Proceeds from convertible note, net of issuance costs 65,736 0
Proceeds from ATM offering, net of issuance costs 18,423 0
Proceeds from revolver facility 14,000 0
Proceeds from equipment loans 1,600 0
Repayment of revolver facility 17,000 0
Repayment of equipment loans (6,956) (355)
Issuance of common stock upon exercise of stock options 410 1,243
Net cash provided by (used in) financing activities 76,213 (537)
Effect of exchange rate changes on cash and cash equivalents (11) (57)
Net change in cash and cash equivalents 26,148 (167,255)
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 58,931 41,147
Supplemental disclosure of cash flow information    
Cash paid for interest 1,123 253
Supplemental disclosure of non-cash information    
Unpaid liabilities related to property and equipment 27 0
Equipment for lease to customers returned to inventory 4,198 2,619
Warrants Issued In Connection With Refinancing Activities 0 170
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 58,131 40,347
Restricted cash (Other assets) 800 800
Total cash and cash equivalents and restricted cash $ 58,931 $ 41,147