Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net profit (loss) $ 8,314 $ (21,109)
Adjustments to reconcile net profit (loss) to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 3,634 841
Provision for doubtful accounts 144 378
Reserve for excess and obsolete inventory 132 56
Change in fair value of warrant liabilities (1,669) 1,251
Change in fair value of contingent earnout liability (51,638) 0
Stock-based compensation expense 10,334 2,971
Changes in operating assets and liabilities, net of effects of businesses acquired    
Accounts receivable 68 (1,345)
Inventory (9,076) (1,430)
Prepaid expenses 2,583 (196)
Other current assets (1,989) 559
Other assets (652) (60)
Accounts payable and accrued expenses 501 2,350
Other current liabilities (82) 31
Deferred rent 0 409
Deferred revenue (167) (1,088)
Other long term liabilities 0 (2)
Other non-current lease liabilities (2,011) 0
Net cash used in operating activities (41,574) (16,384)
Investing Activities:    
Purchases of property and equipment (1,531) (1,039)
Cash paid for the acquisitions, net of cash acquired (2,033) 0
Net cash used in investing activities (3,564) (1,039)
Financing Activities:    
Repayment of debt obligations 0 (5,022)
Payment of transaction costs for the Merger 0 (4,000)
Proceeds from exercise of Series D warrants 0 455
Proceeds from the exercise of common stock options 1,496 419
Taxes paid related to net share settlement of equity awards (315) 0
Net cash provided by (used in) financing activities 1,181 (8,148)
Net change in cash, cash equivalents, and restricted cash (43,957) (25,571)
Cash and cash equivalents and restricted cash    
Beginning of year 288,603 58,715
End of period 244,646 33,144
Supplemental disclosures of cash flow information    
Cash and cash equivalents 243,216 33,144
Restricted cash 1,430 0
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 244,646 33,144
Non-cash financing and investing activities    
Purchase of property and equipment in accounts payable and accrued expenses 100 0
Exercise of common stock warrants, net of shares withheld for exercise 0 1,793
Common Stock issued for the acquisition 2,354  
Deferred transaction costs included in accounts payable and accrued expenses 0 885
Additions to right of use assets and liabilities $ 36,246