Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (92,663) $ (17,591)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 1,276 851
Stock-based compensation 1,751 1,243
Loss on the convertible note modification 50,577 0
Gain/(loss) on fair value of warrants 3,633 (5)
Gain on fair value of contingent earnout liabilities (2,014) 0
Changes in assets and liabilities    
Accounts receivable (5,326) (790)
Inventories (3,022) (1,383)
Contract assets 1,523 (133)
Prepaid expenses and other assets (4,174) 491
Accounts payable (252) (624)
Accrued expenses and other liabilities 3,400 (1,239)
Contract liabilities 12,414 (669)
Other noncurrent liabilities 1,611 (46)
Net cash used in operating activities (31,266) (19,895)
Cash flows from investing activities    
Purchase of property and equipment (1,534) (225)
Production of equipment for lease to customers (6,919) (2,954)
Net cash used in investing activities (8,453) (3,179)
Cash flows from financing activities    
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs 0 28,278
Proceeds from Merger 143,183 0
Proceeds from PIPE financing 155,000 0
Proceeds from loan refinance 19,339 0
Repayment of term loan (4,997)
Repayment of property and equipment loan (833) 0
Proceeds from term loan revolver facility 3,000 0
Proceeds from equipment loans 5,419 1,550
Repayment of equipment loans (1,878) (370)
Proceeds from convertible notes 5,000 5,415
Issuance of common stock upon exercise of stock options 313 53
Net cash provided by financing activities 323,546 34,926
Net change in cash and cash equivalents 283,827 11,852
Cash and cash equivalents and restricted cash at beginning of period 15,517 9,815
Cash and cash equivalents and restricted cash at end of period 299,344 21,667
Supplemental disclosure of cash flow information    
Cash paid for interest 857 187
Supplemental disclosure of non-cash information    
Extinguishment of redeemable convertible preferred stock 0 13,274
Conversion of warrants into redeemable convertible preferred stock, net settlement 899 0
Conversion of convertible notes to Series D redeemable convertible preferred stock 5,000 1,512
Conversion of redeemable convertible preferred stock into common stock 180,180 0
Conversion of warrants into common stock, net settlement 3,635 0
Reclassification of warrants liability upon the reverse recapitalization 21,051 0
Reclassification of contingent earnout liability upon the reverse recapitalization 120,763 0
Issuance of common stock warrants in connection with financing 316 0
Unpaid merger transactional costs 3,231 103
Unpaid merger transactional costs $ 19,913 $ 0