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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (128,832) $ (52,788) $ (118,607)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 31,848 14,812 5,967
Amortization of inventory step-up 9,826 0 0
Allowance for credit losses and inventory reserves 892 1,586 15
Share-based compensation 43,710 41,885 22,905
Amortization of discount and cost of issuance of debt 997 417 198
Gain from change in fair value remeasurement of SAFEs 0 0 (21,600)
(Gain) loss from change in fair value of warrants (7,066) (55,069) 26,060
(Gain) loss from change in fair value of contingent considerations and acquisition-related holdbacks 2,985 (9,468) 38,889
(Gain) loss from change in fair value of currency forward contract 850 (208) 0
Gain from extinguishment of debt 0 0 (304)
Deferred City Semi compensation 54 222 500
Deferred tax liabilities (4,198) (2,002) (516)
Amortization of right-of-use assets 2,737 1,949 0
Other (40) 8 (86)
Changes in operating assets and liabilities:      
Accounts receivable (32,199) (12,161) (4,477)
Inventory (5,785) (4,299) (3,171)
Accounts payable (1,697) 7,419 (2,476)
Accrued expenses and other current liabilities (3,302) 1,665 1,432
Accrued payroll liabilities (562) 528 3,950
Deferred revenue 91 (301) (837)
Prepaid and other current assets (10,298) (8,175) (3,706)
Operating lease liabilities (2,500) (1,488) 0
Other long-term liabilities (1,896) (1,278) 45
Net cash used in operating activities (104,385) (76,746) (55,819)
Cash flows from investing activities:      
Purchases of property and equipment (12,752) (7,568) (2,682)
Purchases of intangible assets 0 0 (1,388)
Business combinations, net of cash (94,990) (8,705) (80,256)
Net cash used in investing activities (107,742) (16,273) (84,326)
Cash flows from financing activities:      
Proceeds from issuance of SAFEs 0 0 5,000
Proceeds from reverse recapitalization 0 0 377,663
Issuance costs related to reverse recapitalization 0 0 (19,902)
Redemption of Class H units 0 0 (900)
Proceeds from issuance of common stock/At-the-market offering 53,136 17,203 0
Offering costs for the issuance of common stock/At-the-market offering (1,138) (379) 0
Proceeds from Wuxi Capital Raise 0 41,861 0
Issuance Costs related to Wuxi Capital Raise 0 (39) 0
Wuxi EIP capital paid in 12,346 0 0
Proceeds from issuance of debt obligations 1,148 161,507 775
Issuance and discount costs related to 2027 Notes 0 (5,374) 0
Payments on debt obligations (12,831) (2,158) (17,543)
Payments on financed software (9,125) (4,161) (2,270)
Deferred payments on business combination 0 (7,500) 0
Payments of City Semi deferred compensation 0 (1,000) (399)
Taxes paid related to net share settlement of vested equity awards 0 0 (1,844)
Repurchase of common stock 0 (7,404) 0
Proceeds from exercise of stock options 31 103 66
Net cash provided by financing activities 43,567 192,659 340,646
Effect of exchange rate changes on cash, and cash equivalents (1,641) 2,774 265
Net increase (decrease) in cash and cash equivalents (170,201) 102,415 200,766
Cash, cash equivalents, and restricted cash at beginning of period 321,879 219,464 18,698
Cash, cash equivalents, and restricted cash at end of period 151,678 321,879 219,464
Supplemental disclosure of cash flow information:      
Cash paid for interest 7,421 376 1,234
Supplemental disclosure of non-cash investing and financing activities:      
Purchases of property and equipment, accrued but not paid (300) 1,464 240
Conversion of historical members' equity 0 0 41,278
Class G warrants cashless exchange 0 0 407
Conversion of SAFEs 0 0 86,100
Conversion of Embry Notes 0 0 4,119
Recognition of earn-out considerations 0 0 119,759
Recognition of warrant liabilities 0 0 74,408
Accrual for purchases of intangible assets 0 0 17,820
Fair value of common stock issued for business combination 128,181 0 82,441
Fair value of common stock issued to satisfy contingent considerations and acquisition-related holdbacks 5,159 0 0
Fair value of common stock issuable for business combination 23,479 0 0
Contingent consideration for business combination 81,745 7,836 4,000
Accrual for purchase consideration for business combination $ 800 $ 9,674 $ 7,500