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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 8,402 $ 23,349
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 10,366 1,248
Inventory impairment charges 707 65
Share-based compensation 21,182 7,968
Amortization of discount and issuance cost 150 198
Bad debts 24 93
(Gain) loss from change in fair value remeasurement of SAFEs 0 (21,600)
(Gain) loss from change in fair value of warrants (67,654) (11,316)
(Gain) loss from change in fair value of earn-out liabilities 0 (17,939)
(Gain) loss from change in fair value of contingent considerations (3,667) 100
Gain (loss) from extinguishment of debt 0 (304)
Deferred City Semi compensation 125 250
Amortization of right-of-use assets 1,118 0
Unrealized foreign currency transaction (gain) loss (216) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,753) (1,350)
Inventory (2,448) (530)
Accounts payable 1,945 (211)
Accrued expenses and other current liabilities 434 922
Accrued payroll liabilities (723) 242
Deferred revenue 457 (476)
Prepaid and other current assets (2,340) (3,321)
Operating lease liabilities (814) 0
Other long-term liabilities (2,177) 479
Net cash used in operating activities (36,882) (22,133)
Cash flows from investing activities:    
Purchases of property and equipment (1,846) (809)
Purchases of intangible assets 0 (43)
Business combinations, net of cash (8,705) 0
Net cash used in investing activities (10,551) (852)
Cash flows from financing activities:    
Proceeds from issuance of SAFEs 0 5,000
Proceeds from issuance of debt obligations 1,059 155
Proceeds from reverse recapitalization 0 377,663
Issuance costs related to reverse recapitalization 0 (6,215)
Payments on debt obligations (1,050) (15,008)
Payments on financed software (1,928) (2,227)
Redemption of Class H units 0 (900)
Payments on business combination (5,000) 0
Payments of City Semi deferred compensation (1,000) 0
Proceeds from exercise of stock options 72 0
Net cash provided by (used in) financing activities (7,847) 358,468
Effect of exchange rate changes on cash and cash equivalents (52) 27
Net increase (decrease) in cash and cash equivalents (55,332) 335,510
Cash, cash equivalents and restricted cash at beginning of period 219,464 18,698
Cash, cash equivalents and restricted cash at end of period 164,132 354,208
Supplemental disclosure of cash flow information:    
Cash paid for interest 128 1,137
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 275 688
Conversion of historical members' equity 0 41,278
Class G warrants cashless exchange 0 407
Conversion of SAFEs 0 86,100
Conversion of Embry Notes 0 4,119
Recognition of earn-out considerations 0 119,759
Accrual for purchases of intangible assets 0 12,198
Recognition of warrant liabilities 0 74,408
Transaction costs accrued but not paid 0 14,754
Contingent consideration for business combination 8,204 0
Accrual for purchase consideration for business combination $ 9,674 $ 0