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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (73,308) $ (335,115)
Adjustments to reconcile net loss to net cash used in operating activities:    
Goodwill impairment charges 0 166,675
Depreciation and amortization 7,843 14,290
Loss on write-off and disposal of property and equipment and right-of-use asset impairment 468 1,175
Gain on lease termination 0 (807)
Stock-based compensation 31,618 46,618
Reduction of revenue related to stock warrant issued to customer 861 288
Amortization of right-of-use asset 3,606 3,268
Interest expense 0 1,112
Amortization of debt issuance costs and debt discount 0 190
Accretion or amortization on short-term investments (4,239) (3,303)
Change in fair value of warrant liabilities (191) (67)
Inventory write down 756 8,223
Provision (recovery of) for doubtful accounts (894) 1,015
Realized gain on available for sale securities (275) 0
Changes in operating assets and liabilities:    
Accounts receivable 412 4,498
Inventory 3,851 (4,474)
Prepaid expenses and other assets 22,499 676
Accounts payable 2,338 (4,112)
Accrued and other liabilities (29,466) (10,229)
Contract liabilities 7,625 410
Operating lease liability (4,637) (4,034)
Net cash used in operating activities (31,133) (113,703)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 668 560
Purchases of property and equipment (2,307) (2,633)
Purchase of short-term investments (85,585) (82,021)
Proceeds from sales of short-term investments 122,082 115,481
Cash and cash equivalents acquired in the Velodyne Merger 0 32,137
Net cash provided by investing activities 34,858 63,524
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from ESPP purchase 781 310
Proceeds from exercise of stock options 170 243
Repayment of borrowings (43,975) 0
Proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees 33,792 2,936
At-the-market offering costs for the issuance of common stock (202) (104)
Net cash (used) provided by financing activities (9,434) 3,385
Effect of exchange rates on cash and cash equivalents (206) (269)
Net decrease in cash, cash equivalents and restricted cash (5,915) (47,063)
Cash, cash equivalents and restricted cash at beginning of period 52,634 124,278
Cash, cash equivalents and restricted cash at end of period 46,719 77,215
SUPPLEMENTAL DISCLOSURES OF OPERATING ACTIVITIES:    
Cash paid for interest 2,073 4,362
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Property and equipment purchases included in accounts payable and accrued liabilities (17) 470
Common stock shares issued in the Velodyne Merger 0 297,425
Common stock warrants issued in the Velodyne Merger $ 0 $ 9,177