v3.22.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net loss $ (25,772) $ (9,398)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 541 124
Reduction of right-of-use assets from operating leases 28 0
Stock-based compensation expense 11,013 4,942
Bad debt and other allowances 2 (8)
Inventory allowance 0 (25)
Loss on disposal of property and equipment 196 0
Change in fair value - Convertible Notes 0 299
Amortization of debt issuance costs 191 0
Changes in operating assets and liabilities:    
Accounts receivable 37 (33)
Accounts receivable, related party 7 307
Inventory (341) (166)
Prepaid expenses and other current assets (193) (816)
Other assets 112 5
Accounts payable 2,619 955
Operating lease liabilities (25) 0
Accrued liabilities 1,482 1,424
Accrued liabilities, related party 18 (833)
Net cash used in operating activities (10,085) (3,223)
Investing Activities:    
Purchases of property and equipment (14,673) (1,070)
Net cash used in investing activities (14,673) (1,070)
Financing Activities:    
Proceeds from issuance of Convertible Notes, net 0 10,700
Proceeds from financing obligations 71 1,066
Proceeds from issuance of debt 0 10,388
Repayment of debt 0 (550)
Net cash provided by financing activities 71 21,604
Net (decrease) increase in cash and cash equivalents and restricted cash (24,687) 17,311
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 101,077 45
Cash and cash equivalents and restricted cash and cash equivalents at end of period 76,390 17,356
Non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued liabilities 8,161 0
Stock-based compensation capitalized to property and equipment, net 29 0
Non-cash financing obligation activity 840 0
Non-cash proceeds from issuance of Convertible Notes for services provided $ 0 $ 50

Source