XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (237,275) $ (62,377)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,255 1,104
Stock-based compensation 91,736 3,772
Revaluation of Series A redeemable convertible preferred stock warrant liability 0 3,339
Deferred income taxes 4 150
Non-cash in-kind services 28,642 0
Loss on forward contract liability 1,324 0
Changes in operating assets and liabilities:    
Accounts receivable, net 521 (495)
Prepaid expenses and other current assets (334) 38
Accounts payable, accrued expenses and other current liabilities 19,402 (10,627)
Customer deposits 6,823 0
Other long-term liabilities 0 148
Net cash used in operating activities (84,902) (64,948)
Cash flows from investing activities    
Purchases of property and equipment (5,855) (6,328)
Deposits for property and equipment (9,325) (8,135)
Investment in joint venture (15) 0
Cash paid towards build-to-suit lease 0 (18,186)
Net cash used in investing activities (15,195) (32,649)
Cash flows from financing activities    
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs paid 50,349 65,000
Business Combination and PIPE financing, net of issuance costs paid 616,726 0
Proceeds from the exercise of stock options 2,204 0
Proceeds from the exercise of stock warrants, net of issuance costs paid 263,064 0
Proceeds from landlord of finance lease 889 0
Payments to landlord for finance lease (485) 0
Proceeds from note payable 4,134 0
Payment of note payable (4,134) 0
Net cash provided by financing activities 932,747 65,000
Net increase (decrease) in cash and cash equivalents, including restricted cash 832,650 (32,597)
Cash and cash equivalents, including restricted cash, beginning of period 89,832 173,956
Cash and cash equivalents, including restricted cash, end of period 922,482 141,359
Supplementary cash flow disclosures:    
Cash paid for interest 617 83
Cash interest received 887 1,156
Supplementary disclosures for noncash investing and financing activities:    
Accrued purchases and deposits of property and equipment 2,136 5,251
Accrued Series D redeemable convertible preferred stock issuance costs 0 4,375
Non-cash prepaid in-kind services 63,358 0
Accrued Business Combination and PIPE transaction costs 285 0
Net liabilities assumed from VectoIQ in Business Combination 221 0
Non-cash acquisition of license 0 50,000
Property acquired through build-to-suit lease 0 3,243
Settlement of forward contract liability $ 1,324 $ 0