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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net loss $ (27,614) $ (98,465)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,657 1,069
Equity-based compensation 20,593 1,033
Change in fair value of warranty liability (23,188) 61,184
Equity method investment loss 175
Fixed asset write-off 41 56
Issuance of warrants for rent expense 66
Asset retirement obligation accretion 5,504
Amortization of debt issuance costs and discount 671
Accrued payment in kind (“PIK”) interest on debt 4,231
Changes in operating assets and liabilities:    
Accounts receivable 298
Other current assets 1,996 (4,074)
Other assets 68 (3,276)
Accounts payable 1,068 1,148
Deferred revenue (1,588)
Accrued expenses and other liabilities (92) 1,424
Operating lease right-of-use assets and liabilities 401
Net cash used in operating activities (25,185) (29,429)
Investing activities    
Capitalization of costs and purchases of network assets, property, and equipment (1,720) (857)
Purchase of internal use software (279) (197)
Purchase of equity method investments (1,125)
Purchase of marketable securities (8,173)
Net cash used in investing activities (11,297) (1,054)
Financing activities    
Proceeds from senior secured loan 18,467
Proceeds from exercise of stock options 48 2
Repurchase of common stocks (withholding taxes) (4)
Net cash provided by financing activities 44 18,469
Effect of exchange rates on cash, cash equivalents and restricted cash (50) (14)
Net decrease in cash, cash equivalents and restricted cash (36,488) (12,028)
Cash, cash equivalents and restricted cash at beginning of period 100,076 13,669
Cash, cash equivalents and restricted cash at end of period 63,588 1,641
Non-cash financing information    
Capital expenditure included in accounts payable 427 112
Issuance of warrants $ 5,504