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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating activities:    
Net loss $ (15,266) $ (5,519)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 536 226
Reserve for inventory obsolescence 410  
Change in fair value of preferred stock warrant and contingent shares liability 3,120 8
Change in fair value of derivative liability 38,251  
Deferred tax benefit (11,147)  
Non-cash interest expense 982 150
Stock-based compensation 863 52
Allowance for credit losses 170 58
Loss on debt extinguishment 171 3,613
Non-cash lease expense 415  
Accretion of interest on marketable securities (204)  
Changes in operating assets and liabilities:    
Accounts receivable (30,057) (5,100)
Inventory (26,134) 323
Prepaid expenses and other assets 167 (1,017)
Accounts payable 30,254 (77)
Accrued expenses and other liabilities 2,267 743
Deferred revenue (500) (10)
Warranty liability 1,142 269
Deferred rent   (135)
Operating lease liabilities (374)  
Net cash used in operating activities (4,934) (6,416)
Investing activities:    
Purchase of marketable securities (50,221)  
Acquisition of fSight (16)  
Purchase of intangible assets (450)  
Purchase of property and equipment (1,510) (308)
Disposals of property and equipment 73  
Net cash used in investing activities (52,124) (308)
Financing activities:    
Proceeds from Convertible Promissory Note 50,000  
(Repayment of) proceeds from Series 2022-1 Notes (20,833) 25,000
Repayment of Senior Bonds   (10,000)
Payment of financing costs (354) (3,483)
Proceeds from sale of Series E convertible preferred stock   21,845
Proceeds from Business Combination 2,238  
Proceeds from exercise of stock options 106 23
Payment of tax withholdings on stock options (91)  
Net cash provided by financing activities 31,066 33,385
Net (decrease) increase in cash and restricted cash (25,992) 26,661
Cash, cash equivalents, and restricted cash at beginning of period 37,717 7,474
Cash, cash equivalents, and restricted cash at end of period 11,725 34,135
Supplemental disclosure of cash flow information:    
Cash paid for interest 168 699
Cash paid for income taxes 53 22
Supplemental schedule of non-cash investing and financing activities:    
Financing costs in accounts payable and accrued expenses   122
Net assets acquired from ROCG 573  
Operating lease right of use assets obtained in exchange for operating lease liabilities 1,973  
Property plant and equipment in accounts payable 297 $ 48
Non-cash consideration paid for the acquisition of fSight 10,974  
Contingent shares liability from fSight acquisition 2,167  
Fair value of derivative note liability at issuance 23,525  
Convertible preferred stock dividends (Note 3) 12,581  
Reclassification of deferred issuance costs to additional paid in capital 2,221  
Conversion of convertible preferred stock into common stock in connection with the Business Combination (Note 3) 87,140  
Issuance of preferred stock upon exercise of preferred warrants 2,008  
Unrealized loss resulting from change in fair value of marketable securities $ (181)