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 - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net loss $ (66,754) $ (25,686) $ (95,363) $ (39,487)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 2,300 1,300 4,087 2,350
Write-off of inventory and change in inventory reserve     337 425
Adjustment to property and equipment for sales type leases     0 (625)
Loss from impairment of property and equipment 157 316 294 412
Stock-based compensation     11,732 8,988
Non-cash interest expense     22 10
Accretion of discount on marketable securities     (242) 0
Non-cash lease expense     432 392
Change in allowance for expected credit losses     173 80
Loss on extinguishment of debt 0 0 626 0
Change in fair value of contingent earn-out liability 28,113 569 31,431 (2,509)
Change in fair value of contingently issuable common stock liability 5,095 24 5,837 (1,448)
Change in fair value of public warrant liability 11,751 143 13,501 (5,443)
Changes in operating assets and liabilities        
Accounts receivable     (646) (5,786)
Inventory     5,080 (3,545)
Commission assets     (1,258) (339)
Contract assets     (1,184) (1,352)
Other assets     (43) (756)
Prepaid expenses and other current assets     580 (9,707)
Accounts payable     (7,409) 2,147
Deferred revenue     24,113 6,031
Accrued expenses and other current liabilities     (342) (1,876)
Operating lease liability     (513) (457)
Net cash used in operating activities     (8,755) (52,495)
Cash flows from investing activities:        
Development of internal-use software     (1,599) (1,301)
Purchases of property and equipment     (33,173) (11,379)
Proceeds from sale of property and equipment     60 0
Purchases of marketable securities     (29,405) 0
Net cash used in investing activities     (64,117) (12,680)
Cash flows from financing activities:        
Proceeds from exercise of stock options and warrants     344 384
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     (29,988) 384
Effect of exchange rate changes on cash and cash equivalents     (33) (10)
Net increase (decrease) in cash, cash equivalents and restricted cash     (102,893) (64,801)
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 127,165 243,366 127,165 243,366
Supplemental disclosure of cash flow information        
Cash paid for interest     710 277
Supplemental disclosure of non-cash activities        
Transfer of property and equipment to inventory     191 0
Capital expenditures incurred but not yet paid     13,572 4,256
Capitalization of stock compensation     218 57
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 125,890 242,691 125,890 242,691
Restricted cash 1,000 400 1,000 400
Restricted cash, noncurrent 275 275 275 275
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 127,165 $ 243,366 $ 127,165 $ 243,366