XML 24 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss before allocation to noncontrolling interest $ (37,903) $ (12,088)
Adjustments to reconcile net loss before noncontrolling interest to cash used in operating activities:    
Depreciation 1,046 557
Amortization of Intangible Assets 54 57
Loss on remeasurement of warrant liabilities 5,482 0
Non-cash lease expense 170 100
Stock-based compensation 2,254 356
Changes in operating assets and liabilities:    
Accounts receivable (470) 942
Prepaid expenses and other current assets (6,838) 100
Inventory (457) (443)
Accounts payable and accrued expenses 2,684 1,273
Operating lease liabilities (112) (94)
Deferred revenue 1,333 725
Other assets and liabilities (14,751) (12)
Net cash used in operating activities (47,508) (8,527)
Cash flows from investing activities:    
Purchase of property and equipment (4,660) (2,728)
BlueWalker 3 Satellite - construction in process (16,907) (8,695)
Net cash used in investing activities (21,567) (11,423)
Cash flows from financing activities:    
Direct costs incurred for the Business Combination 0 (595)
Proceeds from warrant exercises 33 0
Proceeds from debt 97 0
Net cash provided by (used in) financing activities 130 (595)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (482) (19)
Net decrease in cash, cash equivalents and restricted cash (69,427) (20,564)
Cash and cash equivalents and restricted cash, beginning of period 324,537 42,777
Cash and cash equivalents and restricted cash, end of period 255,110 22,213
Non-cash transactions:    
Purchases of construction in process in accounts payable 1,483 3,263
Purchases of property and equipment in accounts payable 1,661 362
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 191 $ 0