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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Cash Flows [Abstract]    
Net loss $ (24,836) $ (15,022)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 4,097 105
Amortization and accretion - marketable securities 440 238
Depreciation – lease vehicles 85 15
Loss on marketable securities 0 0
Provision for doubtful accounts (30) 0
Stock-based compensation expense 1,684 41,963
Change in fair value of Merger warrants liability (1,600) (12,358)
Change in fair value of earnout shares (4,029) (31,846)
Change in Operating Assets and Liabilities:    
Accounts receivable 1,314 (5,192)
Inventories (5,110) 1,991
Other current assets (6,036) (5,868)
Other assets 5 (3,038)
Accounts payable 1,562 3,140
Accrued expenses 975 6,187
Accrued expenses – related party 0 (229)
Other current liabilities (92) 559
Other liabilities (93) (245)
Net Cash Used in Operating Activities (31,664) (19,600)
Cash Flows from Investing Activities    
Purchase of property and equipment (4,091) (586)
Capitalized website and internal-use software costs (611) (1,154)
Purchase of marketable securities (21,974) (217,689)
Proceeds from sales of marketable securities 64,917 59
Purchase of lease vehicles (712) 0
Net Cash (Used in) Provided by Investing Activities 37,529 (219,370)
Cash Flows from Financing Activities    
Payments made on finance leases (126) 0
PIPE issuance 0 125,000
Merger financing 0 309,999
Payment made on accrued dividends 0 (4,853)
Payments to existing shareholders of Former CarLotz 0 (62,693)
Transaction costs and advisory fees 0 (47,579)
Payments made on cash considerations associated with stock options 0 (2,465)
Repayment of Paycheck Protection Program loan 0 (1,749)
Payments made on note payable 0 (3,000)
Payments on floor plan notes payable (41,728) (11,150)
Borrowings on floor plan notes payable 35,965 9,236
Payments made for tax on equity award transactions (2) 0
Net Cash (Used in) Provided by Financing Activities (5,891) 310,746
Net Change in Cash and Cash Equivalents Including Restricted Cash (26) 71,776
Cash and cash equivalents and restricted cash, beginning 79,365 2,813
Cash and cash equivalents and restricted cash, ending 79,339 74,589
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 615 402
Supplementary Schedule of Non-cash Investing and Financing Activities:    
Transfer from lease vehicles to inventory 0 100
KAR/AFC exercise of stock warrants 0 (144)
KAR/AFC conversion of notes payable 0 (3,625)
Convertible redeemable preferred stock tranche obligation expiration 0 (2,832)
Capitalized website and internal use software costs accrued $ 0 $ (1,400)