Post-effective amendment to a registration statement that is not immediately effective upon filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (10,858,000) $ (27,392,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,895,000 1,065,000
Write-off of inventory 2,132,000 0
Adjustment to property and equipment for sales type leases (91,000)  
Loss from impairment of property and equipment 1,869,000 0
Loss on disposal of property and equipment 617,000  
Stock-based compensation 8,511,000 662,000
Noncash interest expense 5,245,000 25,000
(Recovery of) provision recorded for allowance for doubtful accounts (13,000) 47,000
Loss on extinguishment of debt 12,685,000 66,000
Change in fair value of derivative liability 1,745,000  
Change in fair value of common stock warrant liability 879,000  
Change in fair value of earn-out liability (46,212,000)  
Change in fair value of contingently issuable common stock (6,406,000)  
Change in fair value of public warrant liability (12,606,000)  
Changes in operating assets and liabilities    
Accounts receivable (5,063,000) (464,000)
Inventory (17,479,000) (1,471,000)
Commission assets (3,072,000) (1,785,000)
Contract assets (4,877,000)  
Prepaid expenses and other current assets (10,079,000) (375,000)
Accounts payable (7,000) 1,915,000
Deferred revenue 4,968,000 2,341,000
Deferred rent 457,000 (34,000)
Warranty reserve (42,000) (14,000)
Accrued expenses and other current liabilities 5,174,000 2,160,000
Net cash used in operating activities (69,628,000) (23,254,000)
Cash flows from investing activities:    
Development of internal-use software (1,028,000)  
Purchases of property and equipment (3,710,000) (6,609,000)
Net cash used in investing activities (4,738,000) (6,609,000)
Cash flows from financing activities:    
Proceeds from issuance of Series B-1 convertible preferred stock, net of issuance costs   2,994,000
Proceeds from exercise of stock options 915,000 442,000
Proceeds from issuance of common stock from the PIPE Investment 300,000,000  
Proceeds from the closing of the Merger 84,945,000  
Payment of offering costs from the closing of the Merger and PIPE Investment (34,132,000)  
Repayment of financing obligations (359,000) (244,000)
Proceeds from long-term debt, net of issuance costs 31,882,000 22,438,000
Repayment of principal on long term debt (5,422,000) (8,404,000)
Net cash provided by financing activities 377,829,000 17,226,000
Net increase (decrease) in cash, cash equivalents and restricted cash 303,463,000 (12,637,000)
Cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at beginning of period 4,704,000 17,341,000
Cash, cash equivalents and restricted cash at end of period 308,167,000 4,704,000
Supplemental disclosure of cash flow information    
Cash paid for interest 850,000 405,000
Supplemental disclosure of non-cash activities    
Issuance of equity classified warrants 1,000 112,000
Issuance of a nonrecourse promissory note with officer   350,000
Capital expenditures incurred but not yet paid 347,000  
Transfer of inventory to property and equipment 12,949,000 $ 86,000
Deferred offering costs included in accounts payable 1,932,000  
Conversion of convertible preferred stock to common stock 75,877,000  
Initial fair value of contingent earn-out liability recognized in connection with the closing of the Merger 67,021,000  
Initial fair value of contingently issuable common stock liability recognized in connection with the closing of the Merger 11,670,000  
Conversion of common stock warrants to common stock in connection with the closing of the Merger 880,000  
Initial fair value of public warrants in connection with the closing of the Merger $ 23,636,000