v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net loss $ (83,324,000) $ (77,799,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of Private Warrants 233,000 (32,095,000)
Deferred income tax expense 1,176,000 539,000
Depreciation and amortization 9,941,000 7,791,000
Fixed asset impairment 1,070,000 0
Stock-based compensation expense 17,495,000 31,248,000
Rent payments in excess of expense (158,000) (72,000)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net 1,571,000 259,000
Inventories, net (7,411,000) (800,000)
Prepaid expenses and other current assets 762,000 (2,752,000)
Other assets, net (1,722,000) (10,486,000)
Accounts payable 888,000 811,000
Accrued expenses (1,577,000) 1,575,000
Other current liabilities 50,000 (178,000)
Other non-current liabilities (46,000) 617,000
Net cash used in operating activities (61,052,000) (81,342,000)
Investing Activities    
Purchases of property and equipment (121,613,000) (112,903,000)
Purchases of property and equipment from a related party 0 (122,911,000)
Cost of acquisition, net of cash acquired 0 (9,756,000)
Investment in unconsolidated entity 0 (5,000,000)
Net cash used in investing activities (121,613,000) (250,570,000)
Financing Activities    
Proceeds from Business Combination and PIPE shares, net 0 448,500,000
Proceeds from debt 105,759,000 95,709,000
Repayments of debt (48,597,000) 0
Debt issuance costs (2,430,000) (1,046,000)
Payments on financing obligation to a related party 0 (2,088,000)
Proceeds from stock options exercised 137,000 35,000
Proceeds from exercise of warrants 0 95,000
Proceeds from Employee Stock Purchase Plan 211,000 0
Payments of withholding taxes on restricted stock units (1,497,000) (2,341,000)
Proceeds from issuance of common stock 11,466,000 0
Other financing activities 0 (37,000)
Net cash provided by financing activities 65,049,000 538,827,000
Change in cash and cash equivalents (117,616,000) 206,915,000
Cash, cash equivalents and restricted cash at the beginning of period 176,311,000 21,909,000
Cash, cash equivalents and restricted cash at the end of period 58,695,000 228,824,000
Less restricted cash at the end of the period 22,464,000 0
Cash and cash equivalents at the end of the period 36,231,000 228,824,000
Non-cash Activities:    
Fixed assets purchases in accounts payable 1,059,000 14,170,000
Fixed assets purchases in accrued liabilities 3,431,000 8,331,000
Termination of operating leases which decrease operating lease liabilities 3,031,000 0
Operating lease assets obtained in exchange for new operating lease liabilities $ 169,000 $ 1,055,000