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Consolidated statements of cash flows (FY) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (51,529) $ (31,545) $ (10,019)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 1,423 1,534 1,886
Allowance for doubtful accounts 1 0 0
Stock-based compensation 9,164 1,739 2,989
Amortization of operating right-of-use assets 910 1,068 840
Provision for excess and obsolete inventory 66 269 246
Non-cash interest expense on convertible debt 0 0 5,095
Non-cash interest expense on government payable 2,483 1,722 137
Venture Loan interest and final payment fee 1,808 0 0
Amortization of Venture Loan commitment fee (175) 0 0
Fair value of warrants issued for services 0 0 451
Non-cash lease expense 0 0 201
Non-cash Lincoln Park Purchase Agreement issuance costs 629 0 0
Government assistance 0 (7,140) (12,027)
Non-cash interest income on SIF (5,673) 0 0
Change in fair value of Public Warrant liability and Private Warrant liability (6,173) 0 0
Interest benefit on debt 0 (19) 0
Gain on settlement of warrant liability 0 0 (7,836)
Gain on marketable securities 0 (1,163) 0
Gain on debt extinguishment 0 0 (3,873)
Unrealized foreign exchange gain (1,257) (100) (287)
Realized loss on issuance of shares under the Lincoln Park Purchase Agreement 75 0 0
Change in operating assets and liabilities:      
Trade accounts receivable (337) 163 8,002
Research incentives receivable 1,332 2,236 (9,053)
Inventories (148) 182 (652)
Prepaid expenses and other current assets (387) (1,012) (16)
Trade accounts payable 3,597 (379) 1,279
Accrued expenses and other current liabilities 715 578 (5,579)
Deferred revenue, current (929) (1,902) (335)
Operating lease liability (821) (1,031) (736)
Net cash used in operating activities (45,226) (34,800) (29,287)
Cash flows from investing activities:      
Purchase of property and equipment (423) (1,774) (736)
Purchase of software (75) (225) (53)
Net cash used in investing activities (498) (1,999) (789)
Cash flows from financing activities:      
Proceeds from issuance of preferred stock for cash 0 0 43,679
Proceeds from issuance of common stock from the PIPE investment (Note 3) 40,000 0 0
Merger, net of redemption and transaction costs (Note 3) 4,100 0 0
Transaction costs paid directly by D-Wave Systems (6,528) 0 0
Proceeds from government assistance 3,159 25,147 0
Share issuance costs 0 0 (542)
Proceeds from issuance of common stock upon exercise of stock options 1,077 85 5
Proceeds from debt financing 20,000 111 0
Proceeds from Lincoln Park Purchase Agreement 4,250 0 0
Debt payments (21,511) (31) 0
Venture Loan interest and final payment fee (1,808) 0 0
Government loan payment (398) (399) 0
Net cash provided by financing activities 43,265 24,913 43,144
Effect of exchange rate changes on cash and cash equivalents 41 34 (13)
Net (decrease) increase in cash and cash equivalents (2,418) (11,852) 13,055
Cash and cash equivalents at beginning of period 9,483 21,335 8,280
Cash and cash equivalents at end of period 7,065 9,483 21,335
Supplemental disclosure of noncash investing and financing activities:      
Operating lease right-of-use assets recognized in exchange for new operating lease obligations 360 11,870 4,932
Increase in operating lease liability and right-of-use asset due to resolution of contingency 1,113 0 0
Purchases/(sales) of property and equipment included in accounts payable/(accounts receivable) 66 14 (79)
Initial value of promissory notes recognized in connection with closing of the Merger 420 0 0
Initial warrant liabilities recognized in connection with closing of the Merger 8,100 0 0
Non-cash Merger financing 5,294 0 0
Non-cash Directors and Officers Insurance 2,893 0 0
Issuance of shares for payment of Lincoln Park Purchase Agreement commitment fee 3,271 0 0
Conversion of convertible preferred stock to common stock 189,871 0 0
Cash payments included in the measurement of operating lease liabilities 0 1,573 1,474
Unpaid deferred costs 0 1,142 0
Public Warrants      
Cash flows from financing activities:      
Proceeds from exercise of warrants 924 0 0
All Other Warrants      
Cash flows from financing activities:      
Proceeds from exercise of warrants $ 0 $ 0 $ 2