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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (32,119) $ (8,884)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,303 1,766
Equity-based compensation 8,236 13,958
Change in fair value of warranty liability 3,063 (24,150)
Realized and unrealized gain on marketable securities (191)
Equity method investment loss 86
Asset retirement obligation accretion 33 26
Amortization of debt discount 480
Changes in operating assets and liabilities:    
Accounts receivable 338 769
Other current assets 655 1,647
Other assets 75 56
Accounts payable (140) (11)
Deferred revenue (31) (1,622)
Accrued expenses and other liabilities 1,054 (597)
Operating lease right-of-use assets and liabilities 239 268
Net cash used in operating activities (15,919) (16,774)
Investing activities    
Capitalization of costs and purchases of network assets, property, and equipment (2,333) (634)
Purchase of marketable securities (30,534)
Sale and maturity of marketable securities 6,713
Purchase of internal use software (505) (151)
Net cash used in investing activities (26,659) (785)
Financing activities    
Proceeds from senior secured notes 50,000
Payments towards debt issuance cost (1,838)
Payments towards debt (55)
Proceeds from exercise of stock options 39 48
Repurchase of common stocks (withholding taxes) (1)
Net cash provided by financing activities 48,146 47
Effect of exchange rates on cash and cash equivalents (14) (42)
Net decrease in cash and cash equivalents 5,554 (17,554)
Cash and cash equivalents at beginning of period 47,230 100,076
Cash and cash equivalents at end of period 52,784 82,522
Non-cash financing information    
Capital expenditure included in accounts payable 225 501
Issuance of warrants $ 14,598