General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Operations

v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 18, 2021
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Sales       $ 324,000 $ 39,000 $ 82,000 $ 0
Cost of goods sold       249,000 8,000 91,000  
Gross profit (loss)       75,000 31,000 (9,000)  
Operating expenses:              
Research and development       2,245,000 358,000 1,079,000  
Selling, general and administrative       15,493,000 4,223,000 6,547,000 3,367,000
Depreciation       392,000 182,000 287,000 0
Total operating expenses       18,130,000 4,763,000 7,913,000 3,367,000
Loss from operations       (18,055,000) (4,732,000) (7,922,000) (3,367,000)
Other income (expense):              
Management fee income       62,000 21,000 35,000  
Convertible notes fair value adjustment       5,067,000 0    
Warrant fair value adjustment       (10,000) 0    
Debt extinguishment expense       (1,485,000)      
Interest expense, net       (3,267,000) (317,000) (522,000) (39,000)
Loss before income taxes       (27,822,000) (5,028,000) (8,409,000) (3,406,000)
Income tax expense       0 0 0 0
Net income (loss)       $ (27,822,000) $ (5,028,000) $ (8,409,000) $ (3,406,000)
Weighted average shares outstanding, basic and diluted       9,886,283 10,033,298 9,997,049 9,798,949
Net loss attributable to stockholders (Note 13):              
Basic and diluted net income (loss) per share       $ (2.81) $ (0.50) $ (0.84) $ (0.35)
LEO HOLDINGS III CORP [Member]              
Operating expenses:              
General and administrative expenses $ 10,484 $ 716,502 $ 1,302,878        
General and administrative expenses—related party   46,177 83,738        
Loss from operations   (762,679) (1,386,616)        
Other income (expense):              
Warrant fair value adjustment   4,225,000 811,667        
Offering costs associated with issuance of warrants   0 (275,622)        
Net gain from investments held in Trust Account   6,933 13,714        
Net income (loss) $ (10,484) 3,469,254 (836,857)        
Weighted average shares outstanding, basic and diluted [1],[2] 6,000,000            
Net loss attributable to stockholders (Note 13):              
Basic and diluted net income (loss) per share $ 0.00            
Class A Ordinary Shares [Member] | LEO HOLDINGS III CORP [Member]              
Other income (expense):              
Net income (loss)   $ 2,775,403 $ (646,698)        
Weighted average shares outstanding, basic and diluted   27,500,000 22,880,859        
Net loss attributable to stockholders (Note 13):              
Basic and diluted net income (loss) per share   $ 0.10 $ (0.03)        
Class B Ordinary Shares [Member] | LEO HOLDINGS III CORP [Member]              
Other income (expense):              
Net income (loss)   $ 693,851 $ (190,159)        
Weighted average shares outstanding, basic and diluted   6,875,000 6,728,027        
Net loss attributable to stockholders (Note 13):              
Basic and diluted net income (loss) per share   $ 0.10 $ (0.03)        
[1] On February 25, 2021, the Company effected a share capitalization, resulting in an aggregate of 6,900,000 Class B ordinary shares outstanding. All shares and associated amounts have been retroactively restated to reflect the share capitalization (see Note 4).
[2] This number excludes an aggregate of up to 900,000 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter.