XML 22 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (71,961) $ (37,109)
Adjustments to reconcile net loss to net cash used by operating activities    
Depreciation and amortization 463 295
Amortization of debt discount 14 8
Non-employee warrant expense 931 481
Provision for warranty expense 7,634 3,370
Loss on extinguishment of debt 27 164
Non-cash lease expense 621 461
Stock-based compensation related to acquisition 812 707
Stock-based compensation 7,319 1,052
Compensation expense related to acquisition   3,353
Non-cash interest expense 11 100
Provision for excess and obsolete inventory (39) 778
Provision for doubtful accounts 226 512
Change in operating assets and liabilities    
Accounts receivable (23,969) (13,526)
Inventory (15,778) (11,090)
Deferred cost of revenue (9,315) (8,584)
Prepaid expenses and other assets (11,284) 1,014
Accounts payable 3,811 (72)
Accrued expenses and other liabilities 1,605 (3,209)
Deferred revenue 38,945 32,841
Lease liabilities (449) (36)
Net cash used in operating activities (70,376) (28,490)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (1,471) (298)
Payment for loan receivable (2,000)  
Net cash used in investing activities (9,373) (2,680)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from revolving line of credit   7,179
Payments on revolving line of credit   (11,981)
Payments on term loan (4,861) (139)
Payments of senior revolving facility transaction costs (658)  
Payments on note payable related to acquisition   (4,327)
Proceeds from warrant exercise 5  
Proceeds from convertible notes   50
Convertible preferred stock issued 35,000 57,500
Payments of convertible preferred stock transaction costs (207) (61)
Proceeds from business combination and private offering 500,628  
Payments of business combination and private offering transaction costs (55,981)  
Net cash provided by financing activities 473,926 48,221
Effect of exchange rate changes on cash and cash equivalents (191) 143
Net increase in cash, cash equivalents, and restricted cash 393,986 17,194
Cash, cash equivalents, and restricted cash - beginning of period 38,618 21,424
Cash, cash equivalents, and restricted cash - end of period 432,604 38,618
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets    
Cash and cash equivalents 430,841 38,618
Restricted cash, current portion 1,268  
Restricted cash, included in other long-term assets 495  
Total cash, cash equivalents, and restricted cash 432,604 38,618
Supplemental disclosure of cash flow information    
Interest paid 254 459
Cash paid for income taxes 14 83
Schedule of non-cash investing and financing activities    
Accrued property and equipment at period end 25 32
Contingent consideration 5,230  
Acquisition consideration held in escrow 1,021  
Conversion of convertible debt to preferred stock   7,787
Common stock issued as consideration for acquisition   813
Conversion of convertible preferred stock to common stock 146,225  
Zenith [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition, net of cash acquired   $ (2,382)
iQuue [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition, net of cash acquired $ (5,902)