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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (60,557) $ (7,014)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 899 392
Stock-based compensation 43,390 3,329
Change in fair value of liabilities (5,282) (50)
Warrant expense in connection with Merger 154 0
Amortization of debt issuance costs 144 167
Non-cash other 959 (19)
Changes in operating assets and liabilities:    
Inventory (3,047) (2,004)
Prepaid expenses and other current assets (4,635) (950)
Other long-term assets (58) 733
Accounts payable 7,353 (1,061)
Accrued liabilities 5,583 741
Deferred revenue (253) 264
Other long-term liabilities 3 126
Net cash used in operating activities (15,347) (5,346)
Investing activities    
Purchases of investments (187,521) (48,908)
Maturities of investments 48,421 34,090
Proceeds from sales of investments 1,215 9,800
Investment in website development and internal-use software (1,833) (1,050)
Purchases of property, equipment, and intangible assets (122) (801)
Acquisition of business, net of cash acquired (748) 0
Net cash used in investing activities (140,588) (6,869)
Financing activities    
Proceeds from issuance of redeemable convertible preferred stock 0 37,552
Payments of stock issuance costs (12,851) 0
Pre-closing stock repurchase (22,027) 0
Proceeds from issuance of common stock, recapitalization 197,686 0
Proceeds from PIPE 75,000 0
Proceeds from repayment of promissory notes associated with vested and unvested shares 1,193 0
Proceeds from exercise of Class A common stock warrants 808 0
Proceeds from exercise of vested and unvested stock options, net of repurchases and cancelations 254 45
Repayments of principal on term loan 0 (1,515)
Payments for taxes related to net share settlement of equity awards (4,458) 0
Net cash provided by financing activities 235,605 36,082
Foreign currency effect on cash and cash equivalents (19) (12)
Increase in cash, cash equivalents, and restricted cash 79,651 23,855
Cash, cash equivalents, and restricted cash at beginning of period* [1] 28,350 22,797
Cash, cash equivalents, and restricted cash at end of period* [1] 108,001 46,652
Supplemental disclosures of cash flow information    
Cash paid for taxes 227 197
Cash paid for interest 0 10
Non-cash investing and financing activities    
Expiration of Class A common stock redemption right 0 4,500
Exercise of convertible preferred stock warrants 0 3,840
Recapitalization of redeemable convertible preferred stock from pre-closing stock repurchase 125 0
Conversion of redeemable convertible preferred stock to common stock 249,837 0
Assumption of Merger warrants liability 51,814 0
Exercise of Class A common stock warrants 20,872 0
Reclassification of deferred transaction costs 3,929 0
Conversion of Series D preferred stock warrants to Class A common warrants 1,160 0
Change in transaction costs payable 568 0
Vesting of early exercised stock options 106 20
Common stock issued, contingent consideration, and payables for acquisition of business 4,064 0
Equity awards classified as prepaid expenses $ 2,500 $ 0
[1] As of June 30, 2021, the Company had cash and cash equivalents of $107.1 million and restricted cash of $0.9 million, for total cash, cash equivalents, and restricted cash of $108.0 million. As of December 31, 2020, the Company had cash and cash equivalents of $27.3 million and restricted cash of $1.0 million, for total cash, cash equivalents, and restricted cash of $28.4 million.