Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Cash flows from operating activities:    
Net loss $ (28,609) $ (13,801)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,815 1,086
Write-off of inventory and change in inventory reserve 214 324
Adjustment to property and equipment for sales type leases 0 (625)
Loss from impairment of property and equipment 137 96
Stock-based compensation 5,043 3,927
Non-cash interest expense 22 5
Non-cash lease expense 214 197
Change in allowance for expected credit losses 124 0
Loss on extinguishment of debt 626 0
Change in fair value of contingent earn-out liability 3,318 (3,078)
Change in fair value of contingently issuable common stock liability 742 (1,472)
Change in fair value of public warrant liability 1,750 (5,586)
Changes in operating assets and liabilities    
Accounts receivable 8,640 (2,112)
Inventory 1,418 (1,310)
Commission assets (644) (351)
Contract assets 258 108
Other assets (130) 141
Prepaid expenses and other current assets (25) (5,571)
Accounts payable (2,213) (855)
Deferred revenue 8,757 2,577
Accrued expenses and other current liabilities (4,637) (2,433)
Operating lease liability (254) (697)
Net cash used in operating activities (3,434) (29,430)
Cash flows from investing activities:    
Development of internal-use software (733) (728)
Purchases of property and equipment (13,365) (6,689)
Proceeds from sale of property and equipment 60 0
Net cash used in investing activities (14,038) (7,417)
Cash flows from financing activities:    
Proceeds from exercise of stock options 33 227
Proceeds from long-term debt 1,876 0
Repayment of principal on long-term debt (31,876) 0
Payment of debt issuance costs and prepayment penalty (332) 0
Net cash provided by (used in) financing activities (30,299) 227
Effect of exchange rate changes on cash and cash equivalents (16) 0
Net increase (decrease) in cash, cash equivalents and restricted cash (47,787) (36,620)
Cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at beginning of period 230,058 308,167
Cash, cash equivalents and restricted cash at end of period 182,271 271,547
Supplemental disclosure of cash flow information    
Cash paid for interest 710 133
Supplemental disclosure of non-cash activities    
Transfer of property and equipment to inventory 191 0
Capital expenditures incurred but not yet paid 10,648 2,391
Capitalization of stock compensation 91 25
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 180,996 270,872
Restricted cash 1,000 400
Restricted cash, noncurrent 275 275
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 182,271 $ 271,547