v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (92,424) $ (197,562)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 912 195
Amortization of intangible assets 2,895 1,968
Amortization of deferred costs 3,032 1,330
Accretion and write-off of debt discount 0 31,585
Amortization of debt offering costs 263 0
Bad debt expense 11,308 5,417
Stock-based compensation 11,504 85,745
Deferred income taxes 11,672 0
Loss (gain) on disposal of property and equipment 565 (6)
Change in fair value - warrant liabilities (4,457) 0
Prepayment penalty included in interest expense 0 13,034
PPP loan forgiveness 0 (2,063)
Loss on termination of Fortress financing facility 14,046 0
Loss on derivative liabilities, net 0 48,603
Provision for inventories 0 147
Paid-in-kind interest accrual 0 12,851
Unrealized foreign currency transaction (losses) gains (1,461) 333
Impairment expense 131 0
Other (41) 0
Changes in operating assets and liabilities:    
Due from related parties (626) 178
Accounts receivable, net (16,359) (11,361)
Inventories (41,793) (7,120)
Prepaid expenses 2,886 (7,863)
Other current assets (12,907) (2,742)
Deferred costs (2,620) (2,534)
Other long-term assets (6,460) (9,274)
Accounts payable and accrued expenses 24,545 5,432
Deferred revenue (1,042) 989
Interest payable 0 (107)
Income taxes payable 7,891 (1,766)
Other long-term liabilities (437) (167)
Net cash used in operating activities (88,977) (34,758)
Cash flows from investing activities    
Purchases of property and equipment (6,079) (1,465)
Acquisition of Flywheel 0 (25,033)
Purchases of intangible assets (2,995) (872)
Net cash used in investing activities (9,074) (27,370)
Cash flows from financing activities    
Borrowings under revolving facility 87,946  
Proceeds from issuance of common stock, net of offering costs 0 277,753
Repayment of revolving facility 0 (7,000)
Repayment of 1st lien loan 0 (33,688)
Repayment of 2nd lien loan 0 (137,443)
Prepayment premium on 2nd lien loan 0 (13,034)
Taxes paid related to net share settlement of equity awards (11,423) 0
Deferred financing costs (3,176) (1,012)
Net cash provided by financing activities 73,347 85,576
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (558) 203
Net change in cash, cash equivalents, and restricted cash (25,262) 23,651
Cash and cash equivalents at beginning of period 42,004 28,967
Restricted cash at beginning of period 0 0
Cash, cash equivalents, and restricted cash at beginning of period 42,004 28,967
Cash and cash equivalents at end of period 16,676 52,618
Restricted cash at end of period 66 0
Cash, cash equivalents, and restricted cash at end of period 16,742 52,618
Supplemental disclosures of cash flow information:    
Income taxes paid 674 1,771
Interest paid 1,457 14,143
Supplemental disclosures of noncash financing and investing activities:    
Conversion of convertible debt and derivative liability into common stock 0 191,519
Conversion of convertible preferred stock into common stock 0 98,544
Property and equipment included in accounts payable and accrued expenses 592 0
Deferred financing costs incurred pursuant to issuance of liability warrants 8,917 0
Reduction in liability warrant related to exercise of put option via net share settlement 4,460 0
Deferred financing costs included in accounts payable and accrued expenses 2,224 0
Assumption of note payable in exchange for intangible and other current assets $ 405 $ 0