Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (13,375) $ (17,796)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,948 685
Write-off of inventory 400  
Impairment losses on long-lived assets 1,656  
Loss on disposal of fixed assets 659  
Stock-based compensation 4,013 525
Noncash interest expense 5,561  
Provision recorded for allowance for doubtful accounts (63) (16)
Loss on extinguishment of debt 12,685  
Change in fair value of derivative liability 1,745  
Change in fair value of common stock warrant liability 879  
Change in fair value of contingent earn-out liability (31,818)  
Change in fair value of contingently issuable common stock (5,718)  
Change in fair value of public warrant liability (3,152)  
Changes in operating assets and liabilities    
Accounts receivable (5,866) (1,956)
Inventory (10,836) (1,123)
Commission assets (1,102) (1,282)
Contract assets (2,582)  
Prepaid expenses and other current assets (12,772) (393)
Accounts payable 2,264 1,041
Deferred revenue 2,459 1,889
Deferred rent 397 (24)
Warranty Reserve (42) (56)
Accrued expenses and other current liabilities 2,183 109
Net cash provided (used in) operating activities (50,477) (18,397)
Cash flows from investing activities:    
Purchases of property and equipment (3,082) (4,304)
Net cash used in investing activities (3,082) (4,304)
Cash flows from financing activities:    
Proceeds from issuance of Series B-1 convertible preferred stock, net of issuance costs   2,994
Proceeds from exercise of stock options 777 418
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 (33,968)  
Repayment of financing obligations (359) (225)
Proceeds from long-term debt, net of issuance costs 31,882 5,605
Repayment of principal on long-term debt   (321)
Net cash provided by financing activities 383,277 8,471
Net increase (decrease) in cash, and cash equivalents and restricted cash 329,718 (14,230)
Cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at beginning of period 4,704 17,341
Cash, cash equivalents and restricted cash at end of period 334,422 3,111
Supplemental disclosure of cash flow information    
Cash paid for interest 427 207
Supplemental disclosure of non-cash activities    
Issuance of equity classified warrants   45
Transfer of inventory to property and equipment 9,648 $ 86
Deferred offering costs included in accounts payable 1,760  
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 66,845  
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