| Summary of cash, cash equivalents, marketable securities and restricted cash |
The following table shows components of cash, cash equivalents, marketable securities, and restricted cash reported on the condensed consolidated balance sheets and in the condensed consolidated statements of cash flows as of and for the six months then ended:
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June 30, |
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December 31, |
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2022 |
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|
2021 |
|
Cash and cash equivalents |
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$ |
72,531 |
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|
$ |
109,256 |
|
Marketable securities |
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|
20,556 |
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|
|
— |
|
Restricted cash included in Other long-term assets |
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|
364 |
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|
389 |
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|
$ |
93,451 |
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|
$ |
109,645 |
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| Summary of the impact of the restatement to the specific line items presented in the Companys previously reported unaudited condensed consolidated financial statements. |
The following tables reflect the impact of the restatement to the specific line items presented in the Company’s previously reported unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2022.
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As Previously Reported |
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Adjustments |
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As Restated |
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Condensed Consolidated Balance Sheet: |
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June 30, 2022 |
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Contingent earnout liability |
$ |
10,672 |
|
$ |
(9,899 |
) |
$ |
773 |
|
Total liabilities |
$ |
152,797 |
|
$ |
(9,899 |
) |
$ |
142,898 |
|
Additional paid-in capital |
$ |
424,884 |
|
$ |
20,121 |
|
$ |
445,005 |
|
Accumulated deficit |
$ |
(289,071 |
) |
$ |
(10,222 |
) |
$ |
(299,293 |
) |
Total stockholders’ equity |
$ |
136,124 |
|
$ |
9,899 |
|
$ |
146,023 |
|
Total liabilities and stockholders' equity |
$ |
288,921 |
|
$ |
- |
|
$ |
288,921 |
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Condensed Consolidated Statements of Operations: |
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Three Months Ended June 30, 2022 |
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Change in fair value of contingent earnout liability |
$ |
180 |
|
$ |
2,190 |
|
$ |
2,370 |
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Total other income (expense), net |
$ |
(23,988 |
) |
$ |
2,190 |
|
$ |
(21,798 |
) |
Loss before income taxes |
$ |
(40,393 |
) |
$ |
2,190 |
|
$ |
(38,203 |
) |
Net loss |
$ |
(40,455 |
) |
$ |
2,190 |
|
$ |
(38,265 |
) |
Basic and diluted net loss per share |
$ |
(0.29 |
) |
$ |
0.02 |
|
$ |
(0.27 |
) |
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Six Months Ended June 30, 2022 |
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Change in fair value of contingent earnout liability |
$ |
697 |
|
$ |
8,556 |
|
$ |
9,253 |
|
Total other income (expense), net |
$ |
(21,834 |
) |
$ |
8,556 |
|
$ |
(13,278 |
) |
Loss before income taxes |
$ |
(58,261 |
) |
$ |
8,556 |
|
$ |
(49,705 |
) |
Net loss |
$ |
(58,613 |
) |
$ |
8,556 |
|
$ |
(50,057 |
) |
Basic and diluted net loss per share |
$ |
(0.42 |
) |
$ |
0.06 |
|
$ |
(0.36 |
) |
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Condensed Consolidated Statements of Comprehensive Loss: |
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Three Months Ended June 30, 2022 |
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Net loss |
$ |
(40,455 |
) |
$ |
2,190 |
|
$ |
(38,265 |
) |
Comprehensive loss |
$ |
(42,750 |
) |
$ |
2,190 |
|
$ |
(40,560 |
) |
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Six Months Ended June 30, 2022 |
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Net loss |
$ |
(58,613 |
) |
$ |
8,556 |
|
$ |
(50,057 |
) |
Comprehensive loss |
$ |
(59,049 |
) |
$ |
8,556 |
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$ |
(50,493 |
) |
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Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit): |
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Three and Six Months Ended June 30, 2022 |
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Additional paid-in capital |
$ |
424,884 |
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$ |
20,121 |
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$ |
445,005 |
|
Accumulated deficit |
$ |
(289,071 |
) |
$ |
(10,222 |
) |
$ |
(299,293 |
) |
Total stockholders’ equity |
$ |
136,124 |
|
$ |
9,899 |
|
$ |
146,023 |
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Condensed Consolidated Statements of Cash Flows: |
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Six Months Ended June 30, 2022 |
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Net loss |
$ |
(58,613 |
) |
$ |
8,556 |
|
$ |
(50,057 |
) |
Change in fair value of contingent earnout liability |
$ |
(697 |
) |
$ |
(8,556 |
) |
$ |
(9,253 |
) |
Net cash used in operating activities |
$ |
(32,494 |
) |
$ |
- |
|
$ |
(32,494 |
) |
There was no impact on cash flows from investing or financing activities.
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