v3.22.2.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net loss $ (57,435) $ (16,988)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,826 250
Amortization of intangible assets 2,096 0
Stock-based compensation expense 22,709 4,942
Bad debt allowance 7 (8)
Inventory allowance 378 8
Loss on disposal of property and equipment 280 0
Change in fair value - Convertible Notes 0 2,984
Change in fair value - Warrant 0 3
Amortization of debt issuance costs 1,858 429
Changes in operating assets and liabilities:    
Accounts receivable (92) (28)
Inventory 618 (176)
Prepaid expenses and other current assets 714 (3,294)
Other assets 2,324 11
Accounts payable 2,318 881
Operating lease liabilities 5 0
Accrued liabilities (4,545) 3,266
Net cash used in operating activities (26,939) (7,720)
Investing Activities:    
Purchases of property and equipment (25,467) (8,087)
Asset acquisition (25,813) 0
Business combination, net of cash acquired (91,393) 0
Net cash used in investing activities (142,673) (8,087)
Financing Activities:    
Proceeds from issuance of Convertible Notes, net 0 26,000
Proceeds from financing obligations 282 3,210
Proceeds from issuance of debt 111,881 10,500
Payment of debt issuance costs (2,342) (150)
Repayment of debt 0 (654)
Net cash provided by financing activities 109,821 38,906
Net (decrease) increase in cash and cash equivalents and restricted cash (59,791) 23,099
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 41,286 23,144
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 22,703 23,144
Restricted cash and cash equivalents 18,583 0
Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Condensed Consolidated Statements of Cash Flows 41,286 23,144
Non-cash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability 388 0
Reduction of right of use asset and associated lease liability due to lease cancellation (203) 0
Purchases of property and equipment included in accounts payable and accrued liabilities (10,039) 0
Stock-based compensation capitalized to property and equipment, net 116 0
Non-cash financing obligation activity 840 0
Issuance of common stock for debt modification 17,416 0
Non-cash proceeds from issuance of Convertible Notes for services provided $ 0 $ 50

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