v3.22.2.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net loss $ (84,539) $ (27,822)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 3,477 392
Amortization of intangible assets 3,352 0
Stock-based compensation expense 33,616 4,942
Bad debt allowance 11 4
Inventory valuation allowance 323 (17)
Loss on disposal of property and equipment 252 0
Change in fair value - Convertible Notes 0 5,067
Change in fair value - Warrant 0 10
Amortization of debt issuance costs 2,791 1,721
Changes in operating assets and liabilities:    
Accounts receivable (68) (85)
Inventory 2 (370)
Prepaid expenses and other current assets 976 (5,110)
Other assets 2,326 115
Accounts payable 5,114 1,673
Operating lease liabilities 6 0
Accrued liabilities (4,849) 4,200
Net cash used in operating activities (37,210) (15,280)
Investing Activities:    
Purchases of property and equipment (40,863) (14,193)
Asset acquisition (25,813) 0
Business combination, net of cash acquired (90,552) 0
Net cash used in investing activities (157,228) (14,193)
Financing Activities:    
Proceeds from issuance of Convertible Notes, net 0 26,000
Proceeds from financing obligations 333 3,529
Proceeds from issuance of debt 119,351 26,793
Payment of debt issuance costs (2,342) (1,448)
Repayment of debt 0 (10,654)
Net cash provided by financing activities 117,342 44,220
Net (decrease) increase in cash and cash equivalents and restricted cash (77,096) 14,747
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 23,981 14,792
Reconciliation of cash, cash equivalents, and restricted cash from the Unaudited Condensed Consolidated Balance Sheets to the Unaudited Condensed Consolidated Statements of Cash Flows    
Cash and cash equivalents 4,227 10,376
Restricted cash and cash equivalents 19,754 4,416
Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Condensed Consolidated Statements of Cash Flows 23,981 14,792
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 7,168 3,062
Stock-based compensation capitalized to property and equipment, net 222 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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