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
Cash flows from operating activities    
Net loss $ (58,613) $ (46,560)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,341 3,540
Stock-based compensation 5,198 4,501
Amortization of operating lease assets 1,139 0
Accretion on carrying value of convertible notes 0 3,302
Amortization of debt issuance costs 2,673 1,544
Change in fair value of warrant liability (9,732) 10,176
Change in fair value of contingent earnout liability (697) 0
Loss on extinguishment of debt 22,271 2,277
Other (16) 0
Changes in operating assets and liabilities:    
Accounts receivable, net (6,708) (1,635)
Contract assets (2,390) 0
Other current assets 3,235 (1,044)
Other long-term assets 752 151
Accounts payable (2,788) 1,133
Accrued wages and benefits (1,702) 153
Contract liabilities 4,378 2,862
Other accrued expenses 1,828 456
Operating lease liabilities (617) 0
Other long-term liabilities (46) 1,016
Net cash used in operating activities (32,494) (18,151)
Cash flows from investing activities    
Purchases of short-term investments (20,618) 0
Purchase of property and equipment (12,485) (5,581)
Investment in intangible assets 0 (2)
Net cash used in investing activities (33,103) (5,583)
Cash flows from financing activities    
Proceeds from long-term debt 100,360 70,000
Payments on long-term debt (71,512) 0
Proceeds from issuance of convertible notes payable 0 20,000
Payments of redemption of long-term debt 0 (29,628)
Payment of debt issuance costs (4,342) (4,274)
Proceeds from exercise of stock options 796 673
Net cash provided by financing activities 25,634 56,771
Effect of foreign currency translation on cash, cash equivalent and restricted cash 3,213 403
Net (decrease) increase in cash, cash equivalents and restricted cash (36,750) 33,440
Cash, cash equivalents and restricted cash    
Beginning of year 109,645 15,986
End of period 72,895 49,426
Supplemental disclosure of cash flow information    
Cash paid for interest 2,968 676
Noncash Investing and financing activities    
Issuance of shares to FP Credit Partners, L.P. ("FP") (Note 6) 0 8,065
Capitalized Merger Costs Not Yet Paid 0 2,203
Property and equipment purchased but not yet paid 1,486 0
Issuance of stock warrants with long-term debt (Note 6) $ 3,579 $ 308