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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 123,384 $ (126,329)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 768 419
Amortization of debt discount and issuance costs 6,935 34
(Decrease) increase in fair value of warrants (9,826) 1,317
(Decrease) increase in fair value of SAFE notes (209,291) 102,695
Impairment of prepaid launch costs 9,450 0
Stock-based compensation expense 11,187 1,642
Changes in operating assets and liabilities:    
Prepaids and other current assets (15,350) (4,873)
Other non-current assets (2,908) 360
Accounts payable 4,357 865
Accrued expenses 4,546 1,061
Other current liabilities 4,829 61
Contract liabilities (1,071) 1,681
Lease liability and right of use asset 856 0
Other non-current liabilities 5 0
Net cash used in operating activities (72,129) (21,068)
Cash flows from investing activities:    
Purchases of property, machinery and equipment (2,835) (1,245)
Purchases of intangible assets (16) (99)
Net cash used in investing activities (2,852) (1,345)
Cash flows from financing activities:    
Proceeds from issuance of SAFE notes 30,853 44,650
Proceeds from issuance of loan payable 25,000 2,458
Proceeds from exercise of stock options 278 61
Payment of notes payable 0 (1,015)
Payment of debt issuance costs (144) (37)
Payment of warrant issuance costs (31) (1)
Payment for share repurchase (40,000) 0
Proceeds from PIPE 110,000 0
Proceeds from issuance of common stock upon Merger 137,282 0
Payments for transaction costs (32,585) 0
Net cash provided by financing activities 230,653 46,116
Increase in cash, cash equivalents and restricted cash 155,672 23,704
Cash, cash equivalents and restricted cash, beginning of period 23,520 13,002
Cash, cash equivalents and restricted cash, end of period 179,191 36,706
Supplemental disclosure of non-cash investing and financing activities    
Issuance of common stock related to conversion of SAFE notes 136,001 0
Issuance of common stock related to exercise of warrant liabilities 7,001 0
Reclassification of deferred offering costs 6,203 0
Deferred offering costs in accounts payable and accrued expenses at period end 0 979
Assumption of merger warrants liability 31,225 0
Operating lease right-of-use assets in exchange for lease obligations 8,501 0
Supplemental disclosure of cash flow information    
Cash paid for income taxes 1 1
Cash paid for interest $ 1,750 $ 84