XML 24 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ (107,659) $ (18,114) $ (72,064)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,075 1,057 260
Stock-based compensation 67,211 5,831 8,028
Change in fair value of liabilities (3,802) 3,101 (951)
Warrant expense in connection with Merger 154 0 0
Lease termination expense 0 754 0
Amortization of debt issuance costs 144 322 70
Net amortization on securities 2,166 325 (200)
Benefit for deferred taxes (3,388) 0 0
Non-cash operating lease cost 1,510 0 0
Non-cash acquisition-related costs 1,182 0 0
Non-cash other 540 59 (158)
Changes in operating assets and liabilities:      
Inventory (9,628) 674 (522)
Prepaid expenses and other current assets 3,200 (645) (2,436)
Other long-term assets (58) 8 (755)
Accounts payable 9,853 826 (6,075)
Accrued liabilities 197 2,423 (276)
Deferred revenue 1,412 519 212
Operating lease liabilities (1,521) 0 0
Other long-term liabilities 0 381 0
Net cash used in operating activities (34,412) (2,479) (74,867)
Investing activities      
Purchases of investments (266,633) (95,008) (42,012)
Maturities of investments 158,375 47,990 4,500
Proceeds from sales of investments 3,465 11,550 0
Acquisition of businesses, net of cash acquired (46,468) 0 0
Investment in website development and internal-use software (4,175) (2,496) (1,479)
Purchases of property, equipment, and intangible assets (832) (1,737) (308)
Net cash used in investing activities (156,268) (39,701) (39,299)
Financing activities      
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 0 51,900 102,566
Payments for debt issuance costs 0 0 (377)
Pre-closing stock repurchase (22,027) 0 0
Proceeds from issuance of common stock upon Merger 197,686 0 0
Proceeds from PIPE 75,000 0 0
Payments for transaction costs related to securities issuances (12,851) (3,356) 0
Proceeds from repayment of promissory notes associated with vested and unvested shares 1,193 0 0
Proceeds from exercise of Series C preferred stock warrants 0 29 0
Proceeds from exercise of Class A common stock warrants, net of redemption payments 787 561 0
Proceeds from exercise of vested and unvested stock options, net of repurchases and cancelations 1,253 123 44
Borrowings of principal on term loan 0 0 2,136
Repayments of principal on term loan 0 (1,515) (9,051)
Payments for taxes related to net share settlement of equity awards (5,998) 0 0
Net cash provided by financing activities 235,043 47,742 95,318
Foreign currency effect on cash and cash equivalents (73) (9) (5)
Increase (decrease) in cash, cash equivalents, and restricted cash 44,290 5,553 (18,853)
Cash, cash equivalents, and restricted cash at beginning of period 28,350 22,797 41,650
Cash, cash equivalents, and restricted cash at end of period 72,640 28,350 22,797
Supplemental disclosures of cash flow information      
Cash paid for taxes 338 221 139
Cash paid for interest 0 10 361
Non-cash investing and financing activities      
Redeemable Class A common stock reclassification 0 0 4,500
Warrants issued for debt issuance costs 0 0 133
Expiration of Class A common stock redemption right 0 4,500 0
Exercise of convertible preferred stock warrants 0 11,292 0
Recapitalization of redeemable convertible preferred stock from pre-closing stock repurchase 125 0 0
Conversion of redeemable convertible preferred stock to common stock 249,837 0 0
Assumption of Merger warrants liability 51,814 0 0
Redemption/exercise of Class A common stock warrants 37,834 0 0
Conversion of Series D preferred stock warrants to Class A common warrants 1,160 0 0
Vesting of early-exercised stock options, net of cancelations 227 31 12
Common stock issued, contingent consideration, and liabilities assumed in acquisition of businesses $ 99,958 $ 0 $ 0