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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
11 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (14,376) $ (19,285)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 185 1,140
Stock-based compensation 9,983 29,148
Loss on extinguishment of convertible notes   107
Noncash interest expense   5,224
Issuance of Hongyun warrants   188
Fair value adjustment of private placement warrant liability   (4,167)
Fair value adjustment of earnout liability   (84,612)
Changes in operating assets and liabilities:    
Accounts Receivable   (2,614)
Inventory   (19,276)
Prepaid expenses and other current assets (824) (22,970)
Other assets 0 (1,023)
Accounts payable 215 8,164
Accrued liabilities 467 4,966
Related party payables 560 (290)
Contract liabilities 2,608 8,684
Other liabilities   1,425
Net cash used in operating activities (1,182) (95,191)
Cash Flows from Investing Activities:    
Purchases of property and equipment (431) (14,525)
Advanced payments for capital expenditures   (4,257)
Investment in non-consolidated affiliates   (98)
Investment in equity securities (122) (4,826)
Net cash used in investing activities (553) (23,706)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock, net of transaction costs 18,560 0
Proceeds from Business Combination, net of transaction costs (Note 3)   512,936
Payment for purchase of Horizon IP   (6,900)
Exercise of stock options   532
Payment of finance lease liability (29) (203)
Debt issuance costs   (133)
Repurchase of warrants   (540)
Deferred transaction costs (137) 0
Proceeds from issuance of convertible notes 500 45,000
Net cash provided by financing activities 18,894 550,692
Effect of exchange rate changes on cash (20) 431
Net change in cash and restricted cash 17,139 432,226
Cash—Beginning   17,139
Cash and restricted cash —Ending $ 17,139 449,365
Supplemental schedule of non-cash investing activities and financing activities:    
Conversion of Legacy Hyzon Common Stock   73
Recognition of earnout liability in Business Combination   188,373
Recognition of Private Placement Warrant liability in Business Combination   19,395
Horizon IP Agreement - Fee   10,000
Conversion of convertible notes for common stock   50,198
Acquisitions of property and equipment included in current liabilities   $ 61