Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (54,576) $ (60,364)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 16,351 11,642
Stock-based compensation 13,382 9,516
Amortization of operating lease right-of-use assets 4,104 2,185
Amortization of debt issuance costs 2,901 1,595
Change in fair value of warrant liabilities 1,109 (984)
Change in fair value of contingent earnout liability 717 (217)
Issuance of stock warrants 2,399 0
Loss on decommissioned satellites and impairment of assets 1,474 630
Other, net (232) (526)
Changes in operating assets and liabilities:    
Accounts receivable, net 741 (4,834)
Contract assets 812 (345)
Other current assets 8,660 (7,396)
Other long-term assets 1,544 1,261
Accounts payable 1,478 (767)
Accrued wages and benefits 675 1,249
Contract liabilities 452 10,991
Other accrued expenses 2,892 (1,125)
Operating lease liabilities (4,134) (1,945)
Net cash provided by (used in) operating activities 749 (39,434)
Cash flows from investing activities    
Purchases of short-term investments (30,147) (37,752)
Maturities of short-term investments 34,897 41,500
Purchase of property and equipment (21,491) (11,993)
Net cash used in investing activities (16,741) (8,245)
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 (20,113) 0
Proceeds from exercise of stock options 269 0
Proceeds from employee stock purchase plan 370 422
Net cash provided by financing activities 18,407 28,174
Effect of foreign currency translation on cash, cash equivalents and restricted cash (2,486) 2,291
Net decrease in cash, cash equivalents and restricted cash (71) (17,214)
Cash, cash equivalents and restricted cash    
Beginning balance 29,641 47,569
Ending balance 29,570 30,355
Supplemental disclosure of cash flow information    
Cash paid for interest 10,964 12,068
Income taxes paid 46 585
Noncash operating, investing and financing activities    
Property and equipment purchased but not yet paid 2,009 2,603
Right-of-use assets obtained in exchange for lease liabilities 490 4,795
Accrued long-term debt issuance costs 0 1,875
Conversion of warrants to Class A common stock 0 286
Issuance of stock warrants with long-term debt (Note 8) $ 0 $ 2,579