XML 25 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (1,304,460,000) $ (2,579,761,000) $ (719,380,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 186,583,000 62,907,000 10,217,000
Amortization of insurance premium 35,620,000 18,474,000 0
Non-cash operating lease cost 19,711,000 12,563,000 0
Stock-based compensation 423,500,000 516,757,000 4,614,000
Inventory and firm purchase commitments write-downs 569,479,000 48,884,000 0
Change in fair value of contingent forward contract liability 0 454,546,000 118,382,000
Other non-cash items (10,342,000) 289,000 139,000
Changes in operating assets and liabilities:      
Accounts receivable (16,498,000) (2,888,000) 148,000
Inventory (1,256,349,000) (175,091,000) (359,000)
Prepaid expenses (28,822,000) (66,980,000) 7,770,000
Other current assets (43,591,000) (14,704,000) 7,360,000
Other noncurrent assets (43,230,000) 5,889,000 2,866,000
Accounts payable 180,469,000 4,354,000 (69,861,000)
Accrued compensation 30,958,000 16,167,000 13,249,000
Operating lease liability (15,482,000) (10,019,000) 0
Other current liabilities 269,386,000 65,456,000 53,454,000
Other long-term liabilities 31,028,000 (4,712,000) 0
Net cash used in operating activities (2,226,258,000) (1,058,133,000) (570,196,000)
Cash flows from investing activities:      
Purchases of property, plant and equipment (1,074,852,000) (421,220,000) (459,582,000)
Proceeds from sale of property, plant and equipment 0 22,000 0
Proceeds from government grant 97,267,000 0 0
Purchases of investments (3,854,129,000) 0 0
Proceeds from maturities of investments 1,149,714,000 0 0
Proceeds from sale of short term investments 0 505,000 0
Proceeds from insurance claims 323,000 0 0
Net cash used in investing activities (3,681,677,000) (420,693,000) (459,582,000)
Cash flows from financing activities:      
Proceed from issuance of convertible notes, net of issuance costs 0 2,002,437,000 0
Proceeds from short-term insurance financing note 0 41,935,000 0
Payment for short-term insurance financing note (15,330,000) (27,887,000) 0
Payment for capital lease liabilities     (364,000)
Payment for finance lease liabilities (4,977,000) (3,088,000)  
Proceeds from borrowings 29,818,000 0 0
Repayments for borrowings (20,223,000) 0 0
Proceeds from failed sale-leaseback transaction 31,700,000 0 0
Proceeds from exercise of stock options 17,788,000 8,132,000 3,285,000
Proceeds from the exercise of public warrants 0 173,273,000 0
Proceeds from the reverse capitalization 0 4,439,153,000 0
Payment of transaction costs related to the reverse recapitalization 0 (38,865,000) 0
Proceeds from employee stock purchase plan 24,562,000 0 0
Treasury stock repurchase 0 (20,716,000) 0
Stock repurchases from employees for tax withholdings (218,789,000) (22,063,000) 0
Net cash provided by financing activities 1,347,235,000 7,136,428,000 1,290,545,000
Net (decrease) increase in cash, cash equivalents, and restricted cash (4,560,700,000) 5,657,602,000 260,767,000
Beginning cash, cash equivalents, and restricted cash 6,298,020,000 640,418,000 379,651,000
Ending cash, cash equivalents, and restricted cash 1,737,320,000 6,298,020,000 640,418,000
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 23,199,000 627,000 51,000
Cash paid for taxes 480,000 0 0
Supplemental disclosure of non-cash investing and financing activity:      
Increases in purchases of property, plant and equipment included in Accounts payable and accrued expenses 42,728,000 101,057,000 117,946,000
Property, plant and equipment and Right-of-use assets obtained through leases 157,894,000 93,771,000 3,289,000
Extinguishment of Series B convertible preferred stock included in Additional paid-in capital 0 0 1,000,000
Extinguishment of Series B convertible preferred stock included in accrued liabilities 0 0 3,000,000
Issuance of Series D convertible preferred stock upon exercise of preferred stock warrants 0 9,936,000 0
Issuance of Series E convertible preferred stock contingent forward contracts 0 2,167,332,000 793,000
Capital contribution upon forfeit of Series E awards 0 15,719,000 0
Issuance of common stock upon conversion of preferred stock in connection with the reverse recapitalization 0 5,836,785,000 0
Convertible Debt      
Cash flows from financing activities:      
Payment for issuance costs 0 (15,883,000) 0
Line of Credit      
Cash flows from financing activities:      
Payment for issuance costs (6,631,000) 0 0
At-the-Market Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock 594,317,000 0 0
Subscription Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock 915,000,000 0 0
Change in fair value of preferred stock warrant liability      
Adjustments to reconcile net loss to net cash used in operating activities:      
Change in fair value of stock warrants liability 0 6,976,000 1,205,000
Change in fair value of common stock warrant liability      
Adjustments to reconcile net loss to net cash used in operating activities:      
Change in fair value of stock warrants liability (1,254,218,000) 582,760,000 0
Series B      
Cash flows from financing activities:      
Repurchase of Series B convertible preferred stock 0 (3,000,000) 0
Series C      
Cash flows from financing activities:      
Repurchase of Series B convertible preferred stock 0 0 (12,101,000)
Series D      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred stock 0 3,000,000 400,000,000
Supplemental disclosure of non-cash investing and financing activity:      
Issuance of convertible preferred stock upon settlement of contingent forward contracts 0 0 39,563,000
Series E      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred stock 0 600,000,000 899,725,000
Supplemental disclosure of non-cash investing and financing activity:      
Issuance of convertible preferred stock upon settlement of contingent forward contracts 0 2,621,877,000 0
Settlement of Series E convertible preferred stock contingent forward contract $ 0 $ 0 $ 110,456,000