Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net loss $ (24,050) $ (23,527)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,335 1,782
Amortization of intangible assets 893 1,676
Stock-based compensation expense, net of amounts capitalized (934) 5,959
Allowance for expected credit losses 0 8
Inventory allowance 223 30
Loss on disposal of property and equipment 3 0
Change in fair value of warrant liability 4,180 0
Paid-in-kind interest expense 9,786 0
Amortization of debt issuance costs 2,100 981
Interest expense on financing obligation 198 50
Changes in operating assets and liabilities:    
Accounts receivable (281) 76
Inventory (973) (284)
Prepaid expenses and other current assets 181 4
Other assets (2,936) 0
Accounts payable 969 571
Operating lease liabilities (21) 0
Accrued liabilities 1,244 4,844
Net cash used in operating activities (7,083) (7,830)
Investing Activities:    
Purchases of property and equipment (34,985) (32,685)
Net cash used in investing activities (34,985) (32,685)
Financing Activities:    
Proceeds from issuance of debt 39,904 23,045
Net cash provided by financing activities 39,904 23,045
Net decrease in cash and cash equivalents and restricted cash (2,164) (17,470)
Cash and cash equivalents and restricted cash at beginning of period 16,895 24,938
Cash and cash equivalents and restricted cash at end of period 14,731 7,468
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 8,242 7,468
Restricted cash 6,489 0
Total cash and cash equivalents and restricted cash as shown in the Unaudited Condensed Consolidated Statements of Cash Flows 14,731 7,468
Non-cash activities:    
Warrants issued in connection with debt modification 0 25,697
Purchases of property and equipment included in accounts payable and accrued liabilities 1,965 7,584
Interest capitalized to property and equipment, net 5,683 2,079
Stock-based compensation capitalized to property and equipment, net 264 577
Non-cash equity settlement on employee receivable $ 0 $ 175