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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (177,280) $ (32,397)
Adjustments to reconcile net loss to net cash used in operating activities:    
Goodwill impairment charges 99,409 0
Depreciation and amortization 6,159 2,385
Loss on write-off of construction in progress and right-of-use asset impairment 1,423 0
Stock-based compensation 21,780 8,750
Change in right-of-use asset 1,112 644
Interest expense 685 0
Amortization of debt issuance costs and debt discount 62 0
Accretion or amortization on short-term investments (805) 0
Change in fair value of warrant liabilities (106) (1,745)
Inventory write down 2,836 203
Provision for doubtful accounts 445 0
Loss/(Gain) from disposal of property and equipment 145 (100)
Changes in operating assets and liabilities, net of acquisition effects:    
Accounts receivable (3,450) 842
Inventory (2,329) (4,373)
Prepaid expenses and other assets 672 2,480
Accounts payable 5,488 4,807
Accrued and other liabilities (9,218) (2,551)
Contract liabilities 944 0
Operating lease liability (984) (772)
Net cash used in operating activities (53,012) (21,827)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 168 275
Purchase of short-term investments (5,003) 0
Proceeds from sales of short-term investments 19,981 0
Purchases of property and equipment (1,006) (416)
Cash and cash equivalents acquired in the Velodyne Merger 32,137 0
Net cash provided by (used in) investing activities 46,277 (141)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchase of common stock 0 (31)
Proceeds from exercise of stock options 18 209
Taxes paid related to net share settlement of restricted stock units 0 (59)
Net cash provided by financing activities 18 119
Effect of exchange rates on cash and cash equivalents (79) (12)
Net decrease in cash, cash equivalents and restricted cash (6,796) (21,861)
Cash, cash equivalents and restricted cash at beginning of period 124,278 184,656
Cash, cash equivalents and restricted cash at end of period 117,482 162,795
SUPPLEMENTAL DISCLOSURES OF OPERATING ACTIVITIES:    
Cash paid for interest 1,383 0
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Property and equipment purchases included in accounts payable and accrued liabilities 258 377
Common stock shares issued in the Velodyne Merger 297,425 0
Common stock warrants issued in the Velodyne Merger $ 9,177 $ 0