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Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Cash flows from operating activities      
Net loss $ (106,589) $ (15,924) $ (13,495)
Adjustments to reconcile net income (loss) to cash used in operating activities:      
Stock-based compensation 61,765 1,818 906
Depreciation and amortization 232 47 412
Amortization of debt issuance cost 461 0 0
Reserve for obsolete and slow-moving inventory 90 0 0
(Gain) loss from unconsolidated subsidiary 354 (1,399) 709
Gain from disposal of investment in unconsolidated subsidiary (20,829) 0 0
(Gain) loss on extinguishment of debt (790) 116 0
Warranty provision 8,588 7,866 2,057
Warranty recoverable from manufacturer (928) (1,021) (284)
Bad debt expense (91) 24 444
Deferred income taxes 0 (3) (3)
Other non-cash items 458 50 89
Changes in operating assets and liabilities:      
Accounts receivable, net (83,723) (9,710) (13,838)
Inventories (7,264) 2,819 (4,505)
Prepaid and other current assets (10,237) (2,847) (3,154)
Other assets (2,137) (1,672) (156)
Accounts payable 21,659 10,076 7,781
Accruals and other current liabilities 34,095 7,162 3,389
Accrued interest - related party debt 0 (78) (289)
Deferred revenue (21,559) 3,107 19,683
Other non-current liabilities (6,016) 496 1
Other, net (393) (298) (1)
Net cash provided by (used in) operating activities (132,854) 629 (254)
Cash flows from investing activities:      
Purchases of property and equipment (1,025) (256) (18)
Proceeds from disposal of equity method investment 22,332 2,124 0
Net cash used in investing activities: 21,307 1,868 (18)
Cash flows from financing activities:      
Proceeds from borrowings 0 784 1,000
Repayments of borrowings (related party borrowings in 2020) (1,000) (7,000) 0
Repurchase and retirement of common stock held by related parties (54,155) 0 0
Offering costs paid (5,948) (1,140) 0
Proceeds from stock issuance 241,155 30,000 6,000
Proceeds from stock option exercises 317 0 0
Net cash provided by (used in) financing activities 180,369 22,644 7,000
Effect of exchange rate changes on cash and restricted cash (10) (3) 0
Net increase in cash and restricted cash 68,812 25,138 6,728
Cash and restricted cash at beginning of period 33,373 8,235 1,507
Cash and restricted cash at end of period 102,185 33,373 8,235
Supplemental disclosures of cash flow information:      
Purchase of property and equipment included in account payable 478 0 0
Offering costs included in period end accruals 0 449 0
Commencement of new operating leases 1,540 688 78
Cash paid during the period for third party interest 254 0 8
Cash paid during the period for related party interest 207 350 700
Cash paid during the period for taxes 76 0 0
Reconciliation of cash and restricted cash at period end      
Cash 102,185 32,359 7,221
Restricted cash 0 1,014 1,014
Total cash and restricted cash $ 102,185 $ 33,373 $ 8,235