Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.22.1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net profit (loss) $ 4,239 $ (10,019)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 1,163 430
(Recovery) provision for doubtful accounts (43) 77
Reserve for excess and obsolete inventory 109 (24)
Change in fair value of warrant liabilities (693) 1,010
Change in fair value of contingent earnout liability (24,896) 0
Stock-based compensation expense 5,422 1,194
Changes in operating assets and liabilities    
Accounts receivable 4,014 (1,343)
Inventory (2,533) 481
Prepaid expenses 285 (399)
Other current assets (1,376) 375
Other assets (236) 17
Accounts payable and accrued expenses (4,152) 2,486
Other current liabilities (82) 57
Deferred rent   336
Deferred revenue 145 (1,266)
Other non-current lease liabilities (613) 0
Net cash used in operating activities (19,247) (6,588)
Investing Activities:    
Purchases of property and equipment (798) (375)
Net cash used in investing activities (798) (375)
Financing Activities:    
Repayment of debt obligations (5,022)
Payment of transaction costs for the Merger (2,172)
Proceeds from exercise of Series D warrants 100
Proceeds from the exercise of common stock options 580 356
Net cash provided by (used in) financing activities 580 (6,738)
Net change in cash and cash equivalents (19,465) (13,701)
Cash and cash equivalents    
Beginning of year 288,603 58,715
End of period 269,138 45,014
Non-cash financing and investing activities    
Purchase of property and equipment in accounts payable and accrued expenses 83 0
Deferred transaction costs included in accounts payable and accrued expenses $ 0 $ 808