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Condensed consolidated statements of cash flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:          
Net loss $ (13,311) $ (4,209) $ (38,740) $ (17,705)  
Adjustments to reconcile net loss to cash used in by operating activities:          
Depreciation and amortization     1,038 1,135  
Allowance for doubtful accounts     1 0  
Stock-based compensation     3,355 555  
Amortization of operating right of use assets     590 764  
Provision for excess and obsolete inventory     265 215  
Non-cash interest expense on government payable     1,616 601  
Venture loan interest and final payment fee     1,808 0  
Grant income     0 (9,135)  
Change in fair value of warrant liabilities (2,603) 0 (2,603) 0  
Non-cash lease expense     0 (756)  
Gain on investment in marketable securities 0 (1,164) 0 (1,164)  
Unrealized foreign exchange loss (gain)     (1,226) 15  
Non-cash Lincoln Park Purchase Agreement issuance costs 629 0 629 0  
Change in operating assets and liabilities:          
Trade accounts receivable     1 (334)  
Research incentives receivable     1,448 (10,374)  
Inventories     (684) (29)  
Deferred offering costs     1,250 0  
Prepaid expenses and other current assets     (6,708) (929)  
Trade accounts payable     614 (1,081)  
Right-of-use assets     (97) 0  
Accrued expenses and other current liabilities     1,704 (313)  
Deferred revenue, current     (1,051) (148)  
Loan program payable     0 11,068  
Current portion of long-term debt     2,893 0  
Operating lease liability     (442) 0  
Net cash used in operating activities     (34,339) (27,615)  
Cash flows from investing activities:          
Purchase of property and equipment     (249) (1,493)  
Purchase of software     (67) (214)  
Net cash used in investing activities     (316) (1,707)  
Cash flows from financing activities:          
Proceeds from issuance of common stock from the PIPE investment (Note 4)     40,000 0  
Merger, net of redemption and transaction costs (Note 4)     4,100 0  
Transaction costs paid directly by D-Wave Systems     (6,528) 0  
Proceeds from exercise of public warrants     910 0  
Proceeds from promissory note - related party     420 0  
Proceeds from government assistance     3,124 16,346  
Proceeds from issuance of common stock upon exercise of stock options     141 66  
Proceeds from debt financing     19,870 0  
Payment for directors and officers insurance     (864) 0  
Debt payments     (20,000) (23)  
Venture loan interest and final payment fee     (1,808) 0  
Government loan payment     (398) (399)  
Net cash provided by financing activities     38,967 15,990  
Effect of exchange rate changes on cash and cash equivalents     (31) 42  
Net (decrease) increase in cash and cash equivalents     4,281 (13,290)  
Cash and cash equivalents at beginning of period     9,483 21,335 $ 21,335
Cash and cash equivalents at end of period $ 13,764 $ 8,045 13,764 8,045 $ 9,483
Supplemental disclosure of noncash investing and financial activities:          
Initial warrant liabilities recognized in connection with closing of the Merger     8,101 0  
Non-cash Merger financing     5,713 0  
Stock Issued     3,271 0  
Conversion of convertible preferred stock to common stock     189,871 0  
Public Warrants          
Adjustments to reconcile net loss to cash used in by operating activities:          
Change in fair value of warrant liabilities     (1,483) 0  
Private Warrants          
Adjustments to reconcile net loss to cash used in by operating activities:          
Change in fair value of warrant liabilities     $ (1,120) $ 0