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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (149,333) $ (147,305) $ (101,878)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,622 3,265 1,147
Impairment of inventories 224 1,664 0
Loss on write down of fixed assets 0 0 52
Fair value at issuance of Series A warrants 6,500 0 0
Change in fair value of warrant liabilities 182 (970) (1,954)
Stock-based compensation 23,675 24,247 22,237
Amortization of right-of-use assets 3,108 2,882 1,901
Realized loss on available-for-sale securities 0 29 0
Amortization of premium and accretion of discount on available-for-sale securities, net (2,973) 389 1,498
Accounts receivable 2,259 (546) (2,200)
Inventories 353 (2,552) (844)
Other current assets 279 3,634 (7,285)
Other noncurrent assets (270) (3) (795)
Accounts payable (1,592) 1,287 2,667
Accrued liabilities (6,415) 4,953 3,202
Accrued employee costs 1,322 2,525 1,474
Lease liability (3,097) (2,871) (1,785)
Other current liabilities 2,330 (539) 458
Net cash used in operating activities (118,826) (109,911) (82,105)
Cash flows from investing activities:      
Purchase of property, plant, and equipment (6,104) (7,439) (3,850)
Purchase of non-marketable equity investments (5,000) 0 0
Purchase of available-for-sale securities (152,364) (210,197) (571,925)
Proceeds from sale of available-for-sale securities 0 0 20,123
Proceeds from maturities of available-for-sale securities 232,745 328,526 171,580
Purchase of intangible assets 0 0 (4,500)
Net cash provided by (used in) investing activities 69,277 110,890 (388,572)
Cash flows from financing activities:      
Proceeds from business combination and private offering 0 0 560,777
Transaction costs related to business combination and private offering 0 0 (47,487)
Proceeds from issuance of stock in private placement 21,455 0 0
Transaction costs related to issuance of stock in private placement (818) 0 0
Payments of taxes withheld on net settled vesting of restricted stock units (199) (720) (1,338)
Proceeds from exercise of stock options 238 350 911
Proceeds from exercise of warrants 0 1 0
Net cash provided by (used in) financing activities 20,676 (369) 512,863
Net increase (decrease) in cash and cash equivalents (28,873) 610 42,186
Beginning cash and cash equivalents 67,420 66,810 24,624
Ending cash and cash equivalents 38,547 67,420 66,810
Supplemental disclosures of cash flow information:      
Cash paid for interest 0 0 0
Cash paid for income taxes 0 0 0
Supplemental disclosure of noncash investing and financing activities:      
Unpaid property, plant and equipment purchases 90 79 796
Private placement of warrants acquired as part of merger 0 0 3,014
Right-of-use asset obtained in exchange for lease liability 2,995 0 10,515
Non-cash lease adoption $ 0 $ 0 $ 1,671