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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME (LOSS) $ 79,792 $ (7,345)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 125 80
Amortization of intangibles 88 88
Amortization of deferred rent 0 (10)
Non-cash lease expense 243 0
Other (357) 7
Stock-based compensation expense 25,326 1,835
Amortization of debt discount and issuance costs 3 3
Gain from change in fair value of warrants (51,763) 0
Gain from change in fair value of earnout liability (63,406) 0
Change in operating assets and liabilities:    
Accounts receivable (1,358) 359
Inventory (1,152) (1,655)
Prepaid expenses and other current assets (109) 201
Other assets 1,391 6
Accounts payable, accrued compensation and other expenses 817 619
Operating lease liability (241) 0
Net cash used in operating activities (10,601) (5,812)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Asset acquisition 0 (680)
Investment in joint venture (2,704) 0
Purchases of property and equipment (294) (312)
Receipts on notes receivable 6 2
Net cash used in investing activities (2,992) (990)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of warrants (38) 0
Repurchase of common stock (550) 0
Proceeds from issuance of common stock in connection stock option exercises 526 222
Principal payments on long-term debt (800) 0
Net cash (used in) provided by financing activities (862) 222
Effect of exchange rate changes on cash 0 3
NET DECREASE IN CASH AND CASH EQUIVALENTS (14,455) (6,577)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 268,252 38,869
CASH AND CASH EQUIVALENTS AT END OF PERIOD 253,797 32,292
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 23 0
Cash paid for interest $ 67 $ 60