Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (13,801) $ (13,506) $ (86,406) $ (10,888)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 1,086 452 5,465 2,895
Write-off of inventory 324   1,582 2,132
Adjustment to property and equipment for sales type leases     (625) (91)
Loss from impairment of property and equipment 96   1,161 1,869
Loss on disposal of property and equipment     0 617
Stock-based compensation 3,927 309 22,498 9,596
Non-cash interest expense 5 2,344 55 5,245
Non-cash lease expense 197   811 0
Provision recorded for allowance for doubtful accounts   (63) 150 (13)
Loss on extinguishment of debt     0 12,685
Change in fair value of derivative liability   1,425 0 1,745
Change in fair value of common stock warrant liability   736 0 879
Change in fair value of contingent earn-out liability (3,078)   (6,988) (47,360)
Change in fair value of contingently issuable common stock liability (1,472)   (1,872) (6,406)
Change in fair value of public warrant liability (5,586)   (4,906) (12,606)
Changes in operating assets and liabilities        
Accounts receivable (2,112) (874) (25,593) (5,063)
Inventory (1,310) (480) (8,495) (3,436)
Commission assets (351) (391) (3,675) (3,072)
Contract assets 108 (119) 639 (4,877)
Other assets 141 7 (419) 32
Prepaid expenses and other current assets (5,571) (3,727) (3,174) (9,148)
Accounts payable (855) 959 7,661 765
Deferred revenue 2,577 (806) 26,887 4,832
Deferred rent 0 (11) 0 457
Warranty Reserve     0 (42)
Accrued expenses and other current liabilities (2,433)   1,462 2,472
Operating lease liability (697)   (946) 0
Net cash used in operating activities (29,430) (12,439) (74,728) (56,781)
Cash flows from investing activities:        
Development of internal-use software (728)   (2,720) (1,028)
Purchases of property and equipment (6,689) (2,121) (21,473) (16,557)
Proceeds from sale of property and equipment     312 0
Net cash used in investing activities (7,417) (2,121) (23,881) (17,585)
Cash flows from financing activities:        
Proceeds from exercise of stock options 227 455 827 915
Proceeds from issuance of common stock from the PIPE Investment     0 300,000
Proceeds from the closing of the Merger     0 84,945
Payment of offering costs from the closing of the Merger and PIPE Investment     0 (34,132)
Repayment of financing obligations   (359) 0 (359)
Proceeds from long-term debt, net of issuance costs   31,882 29,683 31,882
Repayment of principal on long-term debt     (10,000) (5,422)
Net cash provided by (used in) financing activities 227 31,978 20,510 377,829
Effect of exchange rate changes on cash and cash equivalents     (10) 0
Net increase (decrease) in cash, cash equivalents and restricted cash (36,620) 17,418 (78,109) 303,463
Cash, cash equivalents and restricted cash        
Cash, cash equivalents and restricted cash at beginning of period 308,167 4,704 308,167 4,704
Cash, cash equivalents and restricted cash at end of period 271,547 22,122 230,058 308,167
Supplemental disclosure of cash flow information        
Cash paid for interest     581 850
Supplemental disclosure of non-cash activities        
Capital expenditures incurred but not yet paid 2,391 1,335 7,552 2,936
Capitalization of stock compensation     205 53
Deferred offering costs included in accounts payable     0 1,943
Conversion of convertible preferred stock to common stock     0 75,877
Initial fair value of contingent earn-out liability recognized in connection with the closing of the Merger     0 67,021
Initial fair value of contingently issuable common stock liability recognized in connection with the closing of the Merger     0 11,670
Conversion of common stock warrants to common stock in connection with the closing of the Merger     0 880
Initial fair value of public warrants in connection with the closing of the Merger     0 23,636
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents     229,783 307,492
Restricted cash     0 400
Restricted cash, noncurrent     275 275
Total cash, cash equivalents, and restricted cash $ 271,547 $ 22,122 $ 230,058 $ 308,167