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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (62,365) $ 79,792
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 506 125
Amortization expense 4,536 88
Non-cash lease expense 512 243
Other 85 (357)
Stock-based compensation expense 17,161 25,326
Amortization of debt discount and issuance costs 0 3
Gain from change in fair value of warrants 0 (51,763)
(Gain) loss from change in fair value of earnout liability 27,752 (63,406)
Deferred income taxes 5 0
Change in operating assets and liabilities:    
Accounts receivable 1,704 (1,358)
Inventory 188 (1,152)
Prepaid expenses and other current assets 743 (109)
Other assets (1,612) 1,391
Accounts payable, accrued compensation and other expenses 3,376 817
Operating lease liability (511) (241)
Net cash used in operating activities (7,920) (10,601)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment purchases (1,000) 0
Investment in Joint Venture 0 (2,704)
Purchases of property and equipment (815) (294)
Receipts on notes receivable 0 6
Net cash used in investing activities (1,815) (2,992)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of warrants 0 (38)
Repurchase of common stock 0 (550)
Proceeds from issuance of common stock in connection stock option exercises 221 526
Principal payments on long-term debt 0 (800)
Net cash provided by (used in) financing activities 221 (862)
NET DECREASE IN CASH AND CASH EQUIVALENTS (9,514) (14,455)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 110,337 268,252
CASH AND CASH EQUIVALENTS AT END OF PERIOD 100,823 253,797
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 10 23
Cash paid for interest 0 67
Shares issued in connection with buyout agreement (see Note 18) 22,400 0
Capital expenditures in accounts payable $ 228 $ 0