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, 2023
Mar. 31, 2022
Operating Activities:    
Net loss $ (23,527) $ (25,772)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 1,782 541
Amortization 1,676 0
Reduction of right-of-use assets from operating leases 0 28
Stock-based compensation expense, net of amounts capitalized 5,959 11,013
Bad debt allowance 8 2
Inventory allowance 30 0
Loss on disposal of property and equipment 0 196
Amortization of debt issuance costs 981 191
Interest on financing obligation 50 71
Changes in operating assets and liabilities:    
Accounts receivable 76 37
Inventory (284) (341)
Prepaid expenses and other current assets 4 (186)
Other assets 0 112
Accounts payable 571 2,619
Operating lease liabilities 0 (25)
Accrued liabilities 4,844 1,500
Net cash used in operating activities (7,830) (10,014)
Investing Activities:    
Purchases of property and equipment (32,685) (14,673)
Net cash used in investing activities (32,685) (14,673)
Financing Activities:    
Proceeds from issuance of debt 23,045 0
Net cash provided by financing activities 23,045 0
Net decrease in cash and cash equivalents and restricted cash (17,470) (24,687)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 24,938 101,077
Cash and cash equivalents and restricted cash and cash equivalents at end of period 7,468 76,390
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 7,468 71,974
Restricted cash and cash equivalents 0 4,416
Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Condensed Consolidated Statements of Cash Flows 7,468 76,390
Non-cash activities:    
Warrants issued in connection with debt modification 25,697 0
Purchases of property and equipment included in accounts payable and accrued liabilities 7,584 8,161
Stock-based compensation capitalized to property and equipment, net 577 29
Non-cash equity settlement on employee receivable 175 0
Non-cash financing obligation activity $ 0 $ 840