XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (4,670) $ (6,896) $ (6,405) $ (35,648)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 615 507 1,072 840
Bad debt expense 124    
Loss on disposal of property and equipment 6 6
Gain on extinguishment of debt     (1,806)
Share-based compensation expense 1,192 240 624 318
Change in fair value of SAFE Agreements 2,353 (436) 91 (527)
Deferred income taxes     (7)
Change in fair value of earn-out liabilities (25,030)    
Other 18 13
Changes in operating assets and liabilities:        
Trade accounts receivable, net (1,091) (13,219) 2,088 (2,687)
Accounts receivable – affiliated companies     114
Contract assets 2,272 (13,999) (5,135) 5,309
Prepaid expenses (2,154) (1,079) (5,699) (738)
Other assets, net 358 (245) (2,999) 293
Accounts payable 13,373 12,878 3,423 (9,240)
Accounts payable – affiliated companies 559 1,288 225 157
Contract liabilities – current and long-term (18,190) 9,493 (1,316) 25,416
Other liabilities 14,497 322 14,803 1,631
Net cash used in operating activities (15,774) (11,140) 784 (16,568)
Cash flows from investing activities:        
Purchase of property and equipment (20,200) (5,405) (16,405) (3,176)
Net cash used in investing activities (20,200) (5,405) (16,405) (3,176)
Cash flows from financing activities:        
Proceeds from Business Combination 8,055    
Proceeds from Series A Preferred Stock 26,000    
Transaction costs (9,371)    
Proceeds from borrowings 3,711 7,948 12,170
Repayment of loans (108) (108) (63)
Proceeds from issuance of units     6
Member distributions (4,263)    
Proceeds from stock option exercises 22    
Forward purchase agreement termination 12,730    
Warrants exercised 16,124    
SAFE Agreements 4,250 4,250 13,000
Net cash provided by financing activities 49,297 7,853 12,096 25,107
Net increase (decrease) in cash, cash equivalents and restricted cash 13,323 (8,692) (3,525) 5,363
Cash, cash equivalents and restricted cash at beginning of the period 25,826 29,351 29,351 23,988
Cash, cash equivalents and restricted cash at end of the period 39,149 20,659 25,826 29,351
Less: restricted cash 62 62 62 62
Cash and cash equivalents at end of the period 39,087 20,597 $ 25,764 $ 29,289
Supplemental disclosure of cash flow information        
Cash paid for interest, net 972 253    
Cash paid for taxes 34 355    
Noncash financing activities:        
Transaction costs 15,074    
SAFE Agreements 20,667    
Class A Common Stock related to CEF (Note 3) (834)    
Preferred dividends $ (983)