XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (76,498) $ (12,885)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,445 692
Stock-based compensation 55,259 4,743
Change in fair value of liabilities (13,610) 2,477
Warrant expense in connection with Merger 154 0
Lease termination expense 0 1,846
Amortization of debt issuance costs 144 251
Net amortization on securities 1,732 21
Benefit for deferred taxes (3,178) 0
Non-cash other 871 0
Changes in operating assets and liabilities:    
Inventory (6,928) (735)
Prepaid expenses and other current assets 2,635 37
Other long-term assets (58) 777
Accounts payable 6,306 (897)
Accrued liabilities (794) 1,149
Deferred revenue 217 (65)
Other long-term liabilities (4) 379
Net cash used in operating activities (31,307) (2,210)
Investing activities    
Purchases of investments (219,361) (84,015)
Maturities of investments 99,375 43,790
Proceeds from sales of investments 3,465 11,550
Acquisition of businesses, net of cash acquired (46,468) 0
Investment in website development and internal-use software (3,242) (1,651)
Purchases of property, equipment, and intangible assets (279) (1,293)
Net cash used in investing activities (166,510) (31,619)
Financing activities    
Proceeds from issuance of redeemable convertible preferred stock 0 51,927
Pre-closing stock repurchase (22,027) 0
Proceeds from issuance of common stock upon Merger 197,686 0
Proceeds from PIPE 75,000 0
Payments for transaction costs (12,851) (2,074)
Proceeds from repayment of promissory notes associated with vested and unvested shares 1,193 0
Proceeds from exercise of Class A common stock warrants, net of redemption payments 787 0
Proceeds from exercise of vested and unvested stock options, net of repurchases and cancelations 567 111
Repayments of principal on term loan 0 (1,515)
Payments for taxes related to net share settlement of equity awards (5,234) 0
Net cash provided by financing activities 235,121 48,449
Foreign currency effect on cash and cash equivalents (26) (11)
Increase in cash, cash equivalents, and restricted cash 37,278 14,609
Cash, cash equivalents, and restricted cash at beginning of period 28,350 22,797
Cash, cash equivalents, and restricted cash at end of period 65,628 37,406
Supplemental disclosures of cash flow information    
Cash paid for taxes 279 246
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 6,508
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
Redemption/exercise of Class A common stock warrants 37,834 0
Reclassification of deferred transaction costs 3,929 0
Conversion of Series D preferred stock warrants to Class A common warrants 1,160 0
Deferred transaction costs payable 0 577
Purchase of property and equipment included in accounts payable 0 35
Change in transaction costs payable 568 0
Vesting of early-exercised stock options 147 27
Common stock issued, contingent consideration, and liabilities assumed in acquisition of businesses 99,958 0
Equity awards classified as prepaid expenses $ 2,625 $ 0