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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net income [1] $ 15,798 $ 14,211
Adjustments to reconcile net income to cash (used in) provided by operating activities:    
Depreciation and amortization expense 24 160
Stock-based compensation 8,660 499
Gain on disposal of assets 0 (324)
Loss on debt extinguishment 492 0
Gain on change in fair value of warrant liability (1,031) (9)
Gain on change in fair value of earn-out liability (48,910) 0
Non-cash interest expense 317 122
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,270) 90
Other non-current assets (903) 0
Accounts payable 155 (251)
Accrued expenses 1,791 (665)
Operating lease right-of-use assets and liabilities, net (11) 2
Net cash (used in) provided by operating activities (24,888) 13,835
Investing activities:    
Proceeds from sale of fixed assets 607 0
Purchases of fixed assets (42) (154)
Net cash (used in) provided by investing activities 565 (154)
Financing activities:    
Proceeds from exercise of common stock options, net 56 108
Issuance of term loans, net of issuance costs 19,835 0
Repayment of term loans (13,940) (2,000)
Proceeds from Business Combination, net of offering costs paid (see Note 3) 52,858 0
Net cash provided by (used in) financing activities 58,809 (1,892)
Net increase in cash and cash equivalents 34,486 11,789
Cash and cash equivalents at beginning of period 15,216 3,427
Cash and cash equivalents at end of period 49,702 15,216
Supplemental disclosure of cash flow information:    
Interest paid 1,340 975
Sales of property and equipment recorded as a receivable 0 607
Operating lease liabilities arising from obtaining right-of-use assets 179 375
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of preferred stock into common stock 133,224 0
Cashless warrant exercise 857 0
Purchases of fixed assets included in accounts payable and accrued expenses $ 38 $ 0
[1] Historical shares and capital amounts have been retroactively restated for the reverse recapitalization as described in Note 1.