Annual report pursuant to Section 13 and 15(d)

Revision of Prior Period Financial Statements - Revised Consolidated Statements of Cash Flows (Details)

v3.23.1
Revision of Prior Period Financial Statements - Revised Consolidated Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:                    
Net loss $ (28,304) $ (18,615) $ (25,686) $ (13,801) $ 4,788 $ 20,807 $ (22,977) $ (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               1,306   2,472
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)
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
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     271,547 308,167     22,122 4,704 308,167 4,704
Cash, cash equivalents and restricted cash at end of period $ 230,058     271,547 308,167     22,122 230,058 308,167
Supplemental disclosure of cash flow information                    
Transfer of inventory to property and equipment       0           0
Capital expenditures incurred but not yet paid       2,391       1,335 7,552 2,936
Capitalization of stock compensation                 205 53
Issuance of equity classified warrants               1   0
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
As Previously Reported                    
Cash flows from operating activities:                    
Net loss       (14,551)       (13,755)   (10,858)
Adjustments to reconcile net loss to net cash used in operating activities:                    
Depreciation and amortization       948       452   2,895
Write-off of inventory       324           2,132
Adjustment to property and equipment for sales type leases       (321)           (91)
Loss from impairment of property and equipment       96           1,869
Loss on disposal of property and equipment                   617
Stock-based compensation       5,190       1,082   8,511
Non-cash interest expense       5       2,344   5,245
Non-cash lease expense       197            
Provision recorded for allowance for doubtful accounts               (63)   (13)
Loss on extinguishment of debt                   12,685
Change in fair value of derivative liability               1,425   1,745
Change in fair value of common stock warrant liability               736   879
Change in fair value of contingent earn-out liability       (4,226)           (46,212)
Change in fair value of contingently issuable common stock liability       (1,472)           (6,406)
Change in fair value of public warrant liability       (5,586)           (12,606)
Changes in operating assets and liabilities                    
Accounts receivable       (2,112)       (874)   (5,063)
Inventory       (6,985)       (433)   (17,479)
Commission assets       (351)       (391)   (3,072)
Contract assets       108       (119)   (4,877)
Other assets       0       0   0
Prepaid expenses and other current assets       (5,280)       (4,104)   (10,079)
Accounts payable       (1,867)       1,194   (7)
Deferred revenue       2,778       (621)   4,968
Deferred rent       (468)       (11)   457
Warranty Reserve                   (42)
Accrued expenses and other current liabilities               1,100   5,174
Accrued expenses and other current liabilities       (2,065)            
Operating lease liability       (229)            
Net cash used in operating activities       (35,867)       (12,038)   (69,628)
Cash flows from investing activities:                    
Development of internal-use software       (646)           (1,028)
Purchases of property and equipment       (323)       (2,522)   (3,710)
Net cash used in investing activities       (969)       (2,522)   (4,738)
Cash flows from financing activities:                    
Proceeds from exercise of stock options       216       455   915
Proceeds from issuance of common stock from the PIPE Investment                   300,000
Proceeds from the closing of the Merger                   84,945
Payment of offering costs from the closing of the Merger and PIPE Investment                   (34,132)
Repayment of financing obligations               (359)   (359)
Proceeds from long-term debt, net of issuance costs               31,882   31,882
Repayment of principal on long-term debt                   (5,422)
Net cash provided by (used in) financing activities       216       31,978   377,829
Net increase (decrease) in cash, cash equivalents and restricted cash       (36,620)       17,418   303,463
Cash, cash equivalents and restricted cash                    
Cash, cash equivalents and restricted cash at beginning of period     271,547 308,167     22,122 4,704 308,167 4,704
Cash, cash equivalents and restricted cash at end of period       271,547 308,167     22,122   308,167
Supplemental disclosure of cash flow information                    
Transfer of inventory to property and equipment       4,620           12,949
Capital expenditures incurred but not yet paid       1,693       0   347
Issuance of equity classified warrants               1   1
Deferred offering costs included in accounts payable                   1,932
Conversion of convertible preferred stock to common stock                   75,877
Initial fair value of contingent earn-out liability recognized in connection with the closing of the Merger                   67,021
Initial fair value of contingently issuable common stock liability recognized in connection with the closing of the Merger                   11,670
Conversion of common stock warrants to common stock in connection with the closing of the Merger                   880
Initial fair value of public warrants in connection with the closing of the Merger                   23,636
Adjustment                    
Cash flows from operating activities:                    
Net loss       750       249   (30)
Adjustments to reconcile net loss to net cash used in operating activities:                    
Depreciation and amortization       138       0   0
Write-off of inventory       0           0
Adjustment to property and equipment for sales type leases       (304)           0
Loss from impairment of property and equipment       0           0
Loss on disposal of property and equipment                   0
Stock-based compensation       (1,263)       (773)   1,085
Non-cash interest expense       0       0   0
Non-cash lease expense       0            
Provision recorded for allowance for doubtful accounts               0   0
Loss on extinguishment of debt                   0
Change in fair value of derivative liability               0   0
Change in fair value of common stock warrant liability               0   0
Change in fair value of contingent earn-out liability       1,148           (1,148)
Change in fair value of contingently issuable common stock liability       0           0
Change in fair value of public warrant liability       0           0
Changes in operating assets and liabilities                    
Accounts receivable       0       0   0
Inventory       5,675       (47)   14,043
Commission assets       0       0   0
Contract assets       0       0   0
Other assets       141       7   32
Prepaid expenses and other current assets       (291)       377   931
Accounts payable       1,012       (235)   772
Deferred revenue       (201)       (185)   (136)
Deferred rent       468       0   0
Warranty Reserve                   0
Accrued expenses and other current liabilities               206   (2,702)
Accrued expenses and other current liabilities       (368)            
Operating lease liability       (468)            
Net cash used in operating activities       6,437       (401)   12,847
Cash flows from investing activities:                    
Development of internal-use software       (82)           0
Purchases of property and equipment       (6,366)       401   (12,847)
Net cash used in investing activities       (6,448)       401   (12,847)
Cash flows from financing activities:                    
Proceeds from exercise of stock options       11       0   0
Proceeds from issuance of common stock from the PIPE Investment                   0
Proceeds from the closing of the Merger                   0
Payment of offering costs from the closing of the Merger and PIPE Investment                   0
Repayment of financing obligations               0   0
Proceeds from long-term debt, net of issuance costs               0   0
Repayment of principal on long-term debt                   0
Net cash provided by (used in) financing activities       11       0   0
Net increase (decrease) in cash, cash equivalents and restricted cash       0       0   0
Cash, cash equivalents and restricted cash                    
Cash, cash equivalents and restricted cash at beginning of period     $ 0 0     $ 0 0 $ 0 0
Cash, cash equivalents and restricted cash at end of period       0 $ 0     0   0
Supplemental disclosure of cash flow information                    
Transfer of inventory to property and equipment       (4,620)           (12,949)
Capital expenditures incurred but not yet paid       $ 698       1,335   2,589
Issuance of equity classified warrants               $ 0   (1)
Deferred offering costs included in accounts payable                   11
Conversion of convertible preferred stock to common stock                   0
Initial fair value of contingent earn-out liability recognized in connection with the closing of the Merger                   0
Initial fair value of contingently issuable common stock liability recognized in connection with the closing of the Merger                   0
Conversion of common stock warrants to common stock in connection with the closing of the Merger                   0
Initial fair value of public warrants in connection with the closing of the Merger                   $ 0