Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.21.2
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net profit (loss) $ 594 $ (14,653)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation 1,269 1,361
Provision for doubtful accounts 205 111
Reserve for excess and obsolete inventory 152 458
Change in fair value of warrant liabilities (170) 79
Change in fair value of contingent earnout liability (42,710)
Stock-based compensation expense 11,395 1,528
Transaction cost expensed 1,996
Changes in operating assets and liabilities    
Accounts receivable (7,676) 4,485
Inventory (4,869) (3,500)
Prepaid expenses (3,901) (70)
Other current assets 861 1,090
Other assets (185)
Accounts payable and accrued expenses 4,317 (1,068)
Other current liabilities (7) (391)
Deferred rent 352 (112)
Deferred revenue (418) 1,690
Net cash used in operating activities (38,795) (8,992)
Investing Activities:    
Purchases of property and equipment (2,323) (375)
Net cash used in investing activities (2,323) (375)
Financing Activities:    
Proceeds (repayments) of debt obligations (5,022) 5,022
Proceeds from Merger 132,926
Proceeds from PIPE Investment 210,000
Repurchase of common stock (45,000)
Payment of transaction costs for the Merger (16,043)
Proceeds from exercise of Series D warrants 550 450
Proceeds from the exercise of common stock options 1,727 828
Taxes paid related to net share settlement of equity awards (98)
Net cash provided by financing activities 279,138 6,202
Net change in cash and cash equivalents 238,020 (3,165)
Cash and cash equivalents    
Beginning of year 58,715 59,768
End of year 296,735 56,603
Non-cash financing and investing activities    
Purchase of property and equipment in accounts payable and accrued expenses 152
Recognition of contingent earnout liability related to earnout shares 123,129
Recognition of one public warrant acquired as part of the Merger in additional paid in capital 9,729
Recognition of private placement warrant liability upon Merger 5,702
Exercise of common stock warrants, net of shares withheld for exercise 1,793
Conversion of convertible preferred stock into common stock upon reverse recapitalization 138,047
Note receivable for exercise of common stock options $ (170)