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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Statement of Cash Flows [Abstract]    
Net loss $ (59,741) $ (22,227)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 6,725 448
Impairment expense 724 0
Restructuring expenses 10,731 0
Amortization and accretion - marketable securities 752 788
Depreciation – lease vehicles 217 30
Provision for doubtful accounts 777 0
Stock-based compensation expense 2,825 45,667
Change in fair value of Merger warrants liability (4,813) (12,683)
Change in fair value of earnout shares (6,616) (44,056)
Change in Operating Assets and Liabilities:    
Accounts receivable (2,583) (1,279)
Inventories 9,092 (36,117)
Other current assets (2,979) (5,466)
Other assets 20 (4,091)
Accounts payable (2,426) 2,499
Accrued expenses (161) 6,187
Accrued expenses – related party 0 (229)
Other current liabilities (174) 447
Other liabilities (166) (582)
Net Cash Used in Operating Activities (47,796) (70,664)
Cash Flows from Investing Activities    
Purchase of property and equipment (5,106) (3,548)
Capitalized website and internal-use software costs (1,734) (6,601)
Purchase of marketable securities (52,072) (307,560)
Proceeds from sales of marketable securities 114,915 128,954
Purchase of lease vehicles (1,220) (344)
Net Cash Provided by (Used in) Investing Activities 54,783 (189,099)
Cash Flows from Financing Activities    
Payments made on finance leases (246) (18)
Advance from holder of marketable securities 0 4,722
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 (82,394) (29,056)
Borrowings on floor plan notes payable 70,268 52,444
Employee stock option exercise 66 0
Payments made for tax on equity award transactions (3) 0
Net Cash (Used in) Provided by Financing Activities (12,309) 340,752
Net Change in Cash and Cash Equivalents Including Restricted Cash (5,322) 80,989
Cash and cash equivalents and restricted cash, beginning 79,365 2,813
Cash and cash equivalents and restricted cash, ending 74,043 83,802
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 1,163 490
Supplementary Schedule of Non-cash Investing and Financing Activities:    
Transfer from lease vehicles to inventory 0 150
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 (3,488)
Purchases of property under capital lease obligation $ (247) $ (6,504)