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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (784,238) $ (690,438) $ (370,866)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 23,300 8,231 6,008
Stock-based compensation 255,405 205,711 137,991
Non-cash in-kind services 0 46,271 45,729
Loss on forward contract liability 0 0 1,324
Impairment expense 0 0 14,415
Equity in net loss of affiliates 20,665 3,580 637
Revaluation of financial instruments (145) (3,051) (13,448)
Issuance of common stock for commitment shares 0 5,564 0
Inventory write-downs 21,058 4,927 0
Non-cash interest expense 15,481 0 0
Other non-cash activity 1,594 1,626 (1,063)
Changes in operating assets and liabilities:      
Accounts receivable, net (31,509) 0 0
Inventory (120,906) (17,412) 0
Prepaid expenses and other current assets (8,506) (10,967) (928)
Other assets (809) (1,216) 0
Accounts payable, accrued expenses and other current liabilities 34,235 96,144 29,668
Long-term deposits (4,306) (4,721) 0
Operating lease liabilities (874) (50) 0
Other long-term liabilities 2,849 48,647 0
Net cash used in operating activities (576,706) (307,154) (150,533)
Cash flows from investing activities      
Purchases and deposits for property, plant and equipment (170,726) (179,269) (22,324)
Investments in affiliates (23,027) (25,000) (8,817)
Issuance of senior secured note receivable and prepaid acquisition-related consideration (27,791) 0 0
Settlement of Price Differentials (6,588) (3,412) 0
Cash and restricted cash acquired in Romeo Acquisition 6,865 0 0
Proceeds from sale of equipment 18 200 0
Net cash used in investing activities (221,249) (207,481) (31,141)
Cash flows from financing activities      
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs paid 0 0 50,349
Business Combination and PIPE financing, net of issuance costs paid 0 0 616,726
Proceeds from the exercise of stock options 6,867 4,785 9,650
Proceeds from the exercise of stock warrants, net of issuance costs paid 0 0 264,548
Proceeds from issuance of shares under the Tumim Purchase Agreement 123,672 163,788 0
Proceeds from issuance of Convertible Notes, net of discount and issuance costs 233,214 0 0
Proceeds from issuance of common stock under Equity Distribution Agreement, net of commissions paid 165,143 0 0
Proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs 54,000 24,632 4,134
Proceeds from issuance of financing obligations, net of issuance costs 44,823 0 0
Proceeds from insurance premium financing 6,637 0 0
Repayment of debt, promissory notes and notes payable (30,526) (4,100) (4,134)
Payments on insurance premium financing (4,638) 0 0
Payments on finance lease liabilities and financing obligation (514) (863) (1,042)
Other financing activities 0 (644) 889
Net cash provided by financing activities 598,678 187,598 941,120
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (199,277) (327,037) 759,446
Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period 522,241 849,278 89,832
Cash and cash equivalents, including restricted cash and cash equivalents, end of period 322,964 522,241 849,278
Supplemental cash flow disclosures:      
Cash paid for interest 4,446 797 884
Cash interest received 1,449 512 703
Supplemental noncash investing and financing activities:      
Net assets acquired in Romeo Acquisition 77,137 0 0
Purchases of property, plant and equipment included in liabilities 37,160 27,510 6,751
Toggle Unsecured Convertible Notes issued for paid in kind interest 10,939 0 0
Accrued PIK interest 1,998 0 0
Accrued commissions under Equity Distribution Agreement 1,681 0 0
Embedded derivative asset bifurcated from Convertible Notes 1,500 0 0
Non-cash prepaid in-kind services 0 0 46,271
Accrued Business Combination and PIPE transaction costs 0 0 285
Net liabilities assumed from VectoIQ 0 0 21,919
Settlement of forward contract liability 0 0 1,324
Stock option proceeds receivable 238 0 213
Leased assets obtained in exchange for new finance lease liabilities 1,547 646 0
Common stock issued for commitment shares 0 5,564 0
Common stock issued for investments in affiliates, including common stock with embedded put right 0 32,376 0
Acquired intangible assets included in liabilities $ 0 $ 47,181 $ 0