Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net Income (Loss) $ (42,103) $ (37,027)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 12,489 7,883
Stock-based compensation 8,423 5,986
Amortization of operating lease right-of-use assets 1,798 1,128
Amortization of debt issuance costs 1,800 1,086
Change in fair value of warrant liabilities 1,963 (1,103)
Change in fair value of contingent earnout liability 1,232 (204)
Issuance of stock warrants 2,399 0
Loss on decommissioned satellites and impairment of assets 924 472
Other, net (148) (273)
Changes in operating assets and liabilities:    
Accounts receivable, net (2,689) (6,441)
Change in contract assets 712 (1,307)
Other current assets 7,656 (1,654)
Other long-term assets 965 774
Accounts payable (965) (2,465)
Accrued wages and benefits (117) 413
Change in contract liabilities (6,161) 4,648
Other accrued expenses 275 359
Operating lease liabilities (1,692) (890)
Net cash used in operating activities (13,239) (28,615)
Cash flows from investing activities    
Purchases of short-term investments (30,147) (25,845)
Maturities of short-term investments 20,000 28,400
Purchase of property and equipment (12,585) (6,653)
Net cash used in investing activities (22,732) (4,098)
Cash flows from financing activities    
Proceeds from Securities Purchase Agreement, net 37,881 0
Proceeds from long-term debt 0 19,886
Proceeds from issuance of common stock under the Equity Distribution Agreement, net 0 7,866
Payments on long-term debt (10,113) 0
Proceeds from exercise of stock options 269 0
Proceeds from employee stock purchase plan 370 422
Net cash provided by financing activities 28,407 28,174
Effect of foreign currency translation on cash, cash equivalents and restricted cash 1,947 538
Net decrease in cash, cash equivalents and restricted cash (5,617) (4,001)
Cash, cash equivalents and restricted cash    
Beginning balance 29,633 47,569
Cash, cash equivalents and restricted cash - Ending balance 24,016 43,568
Supplemental disclosure of cash flow information    
Cash paid for interest 7,643 7,927
Income taxes paid 42 585
Noncash operating, investing and financing activities    
Property and equipment purchased but not yet paid 1,373 1,742
Right-of-use assets obtained in exchange for lease liabilities 490 2,925
Issuance of stock warrants with long-term debt (Note 8) $ 0 $ 286