XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (18,216) $ (43,325)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 1,133 1,133
Reduction in carrying amount of right-of-use assets 265 150
Depreciation 1,440 358
Stock-based compensation 21,965 3,094
Unrealized loss (gain) on foreign currency transactions 672 (28)
Non-cash interest (income) expense (3) 36
Accretion on marketable securities   (1)
Change in the fair value of earnout liability (52,681)  
Change in the fair value of warrants (6,084) 7,051
Change in the fair value of convertible promissory notes 156  
Change in fair value of One S.r.l. call option 865 554
Changes in operating assets and liabilities:    
Account receivables (1,473) 640
Grants receivable (1,078) (675)
Prepaid expenses and other current assets 5,048 (7,685)
Inventories (5,258) (156)
Other assets (536) (3,281)
Accounts payable 11,486 (2,374)
Accrued expenses and other current liabilities 571 8,211
Operating lease liabilities (263) (144)
Deferred income 2,300 7,048
Other long-term liabilities (81) (5,975)
Net cash used in operating activities (39,772) (35,369)
Cash flows from investing activities:    
Purchases of property and equipment (5,067) (10,057)
Maturities of marketable securities   24,000
Net cash (used in) provided by investing activities (5,067) 13,943
Cash flows from financing activities:    
Proceeds from Business Combination, net of transaction costs 70,478  
Principal repayment of notes payable (1,119) (226)
Repayment of convertible promissory notes due to related party, held at fair value (27,284)  
Proceeds from issuance of promissory notes (net of issuance costs of $0 and $30, respectively)   4,540
Proceeds from the exercise of warrants 4 9
Proceeds from exercise of share-based awards 110 10
Net cash provided by financing activities 42,189 4,333
Effect of exchange rates on cash (406) (680)
Net decrease in cash (3,056) (17,773)
Cash and cash equivalents at beginning of year 28,397 48,144
Cash and cash equivalents at end of period 25,341 30,371
Noncash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expense 1,027 1,217
Deferred financing costs included in accounts payable and accrued expense   506
Recognition of earnout liability 58,871  
Recognition of private placement warrant liability 8,140  
Supplemental cash flow information:    
Interest paid on notes payable $ 181 $ 158