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Consolidated statements of cash flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss for the year $ (137.7) $ (138.0)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 8.9 12.7
Depreciation and amortization 18.5 8.9
Loss on write off of fixed assets 2.1 3.9
Write-off of intangible assets 1.0 0.0
Foreign exchange (gain) loss (2.3) 1.2
Fair value gain on financial instruments (105.1) (22.1)
Debt extinguishment cost 58.9 0.0
Inventory adjustments to net realizable value 4.2 6.0
Income tax expense 0.0 0.1
Bad debt expense 0.0 1.2
Interest and accretion on convertible debt 54.0 7.6
Loss on termination of lease 0.3 0.0
Non-cash lease expense (5.3) 0.6
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities (102.5) (117.9)
Changes in working capital items:    
Accounts receivable (11.1) 2.5
Other receivables 0.9 8.0
Prepayments, deposits and other assets 28.9 (1.9)
Inventories (4.2) (8.7)
Deferred revenue 2.8 0.2
Accounts payable and accrued liabilities (21.2) 18.0
Net cash used in operating activities (106.4) (99.8)
Investing activities    
Purchases of property, plant, equipment, and other assets (23.9) (334.9)
Net cash used in investing activities (23.9) (334.9)
Financing activities    
Payments of transaction costs (8.6) (7.8)
Proceeds from reservation fees recorded in deferred revenue 0.0 5.3
Capital contribution payment to the holders of non-controlling interest in subsidiary 0.0 (0.4)
Issuance of common shares, net 15.5 0.0
Proceeds from convertible debt, net of issuance cost 75.0 0.0
Net cash (used in) provided by financing activities 81.9 (2.9)
Net change in cash, cash equivalents and restricted cash (48.4) (437.6)
Cash, cash equivalents and restricted cash, beginning of year 80.3 517.9
Cash, cash equivalents and restricted cash, end of year 31.9 80.3
Supplemental non-cash investing activities:    
Purchases of property and equipment included in liabilities 3.9 87.6
Interest paid 1.0 0.0
Bad debt recovery $ 1.0 $ 0.0