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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (94,906) $ (79,717)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 25,375 19,007
Stock-based compensation 40,656 19,387
Amortization of debt discount and debt issuance costs 1,710 973
Amortization of right-of-use assets 1,689 1,128
Write-down for excess and obsolete inventories 6,734 4,100
Loss on disposal of assets 1,402 1,194
Other 860 (126)
Changes in operating assets and liabilities:    
Accounts receivable 98 (2,255)
Inventories (22,046) (16,615)
Prepaid expenses and other current assets (9,271) (1,093)
Other assets (45) (253)
Accounts payable 10,324 7,651
Accrued expenses 4,361 (3,646)
Lease liabilities (1,570) (1,054)
Contract liabilities 1,839 (187)
Other long-term liabilities (3,406) (536)
Net cash used in operating activities (36,196) (52,042)
Investing activities:    
Purchase of property and equipment (35,417) (26,338)
Purchase of intangible assets (1,962) (1,479)
Acquisition of business (55,000)  
Net cash used in investing activities (92,379) (27,817)
Financing activities:    
Proceeds from term loan, net of debt discount 98,473  
Payment of debt issuance costs (3,321)  
Proceeds from common stock offering 57,511  
Net cash (paid) received from common stock exercises (1,551) 218
Proceeds from revolving credit facility 55,000  
Repayment of OCEANEs (13,315)  
Repayment of revolving credit facility (47,500)  
Proceeds from financed insurance 1,328 1,617
Other (1,602) (1,064)
Net cash provided by financing activities 145,023 771
Effect of exchange rate changes on cash (124) (690)
Net increase (decrease) in cash and cash equivalents 16,324 (79,778)
Cash and cash equivalents at beginning of period 84,696 187,248
Cash and cash equivalents at end of period 101,020 107,470
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,840 1,970
Cash paid for income taxes 206 267
Supplemental disclosure of noncash activities:    
Financed insurance 1,328 1,617
Purchases of property and equipment in accounts payable and accrued expenses $ 2,233 2,304
Purchase of intangible assets   750
Modification of lease liability for lease amendment   4,288
Common stock issued for asset acquisition   $ 250