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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net (loss) income $ (9,043) $ 10,837
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 697 276
Stock-based compensation expense 2,235 3,159
Bad debt expense, net of recoveries 2,350 1,023
Loss on disposition of assets 63 0
Noncash amortization of debt discount 409 369
Noncash interest expense associated with convertible debt 0 243
Noncash change in fair value of derivatives (295) (36,264)
Other (1) 15
Changes in operating assets and liabilities:    
Accounts receivable (2,461) (675)
Prepaid expenses and other current assets (467) (2,222)
Accounts payable (16) 173
Accrued expenses and other current liabilities (3,246) (2,141)
Deferred revenue 137 77
Net cash used in operating activities (9,638) (25,130)
Cash flows from investing activities    
Additions of property, equipment, and software (1,042) (2,194)
Proceeds from sale of property and equipment 27 0
Net cash used in investing activities (1,015) (2,194)
Cash flows from financing activities    
Proceeds from exercise of stock options 0 158
Proceeds from convertible promissory notes 0 29,374
Proceeds from business combination placed in escrow and restricted 0 39,032
Trust proceeds received from recapitalization at closing 0 582
Issuance of common Stock under ESPP 168 0
Repurchase of common stock and settlement of forward purchase agreements 0 (31,303)
Transaction costs associated with recapitalization 0 (10,761)
Advances (repayments) of related party payables 1 (17)
Net cash provided by financing activities 169 27,065
Net decrease in cash, cash equivalents, and restricted cash (10,484) (259)
Cash, cash equivalents, and restricted cash, beginning of period 25,202 28,695
Cash, cash equivalents, and restricted cash, end of period 14,718 28,436
Supplemental disclosure of non-cash financing activities    
Stockholder contribution for debt issuance costs 0 924
Repurchase of common stock in other accrued expenses 0 360
Conversion of promissory notes into common stock 0 33,024
Issuance of forward share purchase agreements 0 14,170
Issuance of private warrants 0 3,916
Issuance of sponsor shares subject to earn-out conditions 0 6,867
Issuance of stockholder earn-out rights $ 0 $ 26,131