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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities    
Net loss $ (157,291) $ (121,652)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 14,433 13,975
Stock-based compensation 10,621 3,154
Inventory write-down 4,078 0
Non-cash interest on long-term debt, due to Parent Company 0 4,831
Non-cash investment in Sky and Space (1,706) 0
Change in fair value of equity investments (6,792) 0
Change in fair value of liability classified warrants (3,749) 0
Changes in operating assets and liabilities:    
Accounts receivable 1,278 (1,351)
Contract assets (3,077) 0
Inventory (37,940) (66)
Prepaid expenses (1,259) 320
Other noncurrent assets (32) (82)
Due (to) from related party, net (75) 898
Accounts payable 6,639 (480)
Other long-term liabilities 2,142 (472)
Accrued liabilities 5,326 5,921
Deferred revenue 13,502 (48,090)
Other, net (95) 78
Net cash used in operating activities (153,997) (143,016)
Cash flows from investing activities:    
Purchase of property and equipment (25,280) (13,337)
Purchase of investment in Arqit (5,000) 0
Proceeds from sale of property and equipment 0 39
Net cash used in investing activities (30,280) (13,298)
Cash flows from financing activities:    
Payments of finance lease obligations (257) (243)
Proceeds from the exercise of stock options 2,807 409
Advances to stock option holders 18 (18)
Parent Company contributions 169,139 150,000
Parent Company distributions 0 (118,488)
Cash proceeds from the Transactions, net of redemptions 200,102 0
Payment of transaction costs related to the Transactions (19,336) 0
Net cash provided by financing activities 352,473 31,660
Net increase (decrease) in cash and cash equivalents and restricted cash 168,196 (124,654)
Cash and cash equivalents and restricted cash at the beginning of the period 26,786 151,440
Cash and cash equivalents and restricted cash at the end of the period 194,982 26,786
Cash and cash equivalents 194,154 22,433
Restricted cash 828 4,353
Cash and cash equivalents and restricted cash 194,982 26,786
Schedule for non-cash investing activities and financing activities    
Conversion of long-term debt due to Parent Company to Parent Company non-cash contributions 235,108 0
Unpaid property, plant and equipment received $ 121 $ 26