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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (66,335) $ (38,740)
Adjustments to reconcile net loss to cash used in by operating activities:    
Depreciation and amortization 828 1,038
Stock-based compensation 17,362 3,355
Amortization of operating right of use assets 573 493
Non-cash interest expense 2,405 1,616
Non-cash final fee payment for Venture Loan 0 1,808
Non-cash Lincoln Park Purchase Agreement issuance costs 0 629
Change in fair value of Warrant liabilities 79 (2,603)
Change in fair value of Term Loan (1,356) 0
Debt issuance costs netted from Term Loan proceeds 993 0
Government assistance (1,051) 0
Unrealized foreign exchange loss (gain) (15) (1,226)
Other non-cash activities 35 266
Change in operating assets and liabilities:    
Trade accounts receivable 7 1
Research incentives receivable 0 1,448
Inventories (235) (684)
Deferred offering costs 0 1,250
Prepaid expenses and other current assets 2,035 (3,815)
Trade accounts payable (2,267) 614
Accrued expenses and other current liabilities 965 1,704
Deferred revenue 479 (1,051)
Operating lease liabilities, net of current portion (412) (442)
Net cash used in operating activities (45,910) (34,339)
Cash flows from investing activities:    
Purchase of property and equipment (141) (249)
Purchase of software (35) (67)
Net cash used in investing activities (176) (316)
Cash flows from financing activities:    
Merger, net of redemption and transaction costs (Note 3) 0 4,100
Transaction costs paid directly by D-Wave Systems 0 (6,528)
Proceeds from exercise of public warrants 0 910
Proceeds from promissory note - related party 0 420
Payment on directors and officers financing arrangement (1,449) (864)
Proceeds from issuance of common stock in connection with ESPP 273 0
Proceeds from government assistance 1,487 3,124
Proceeds from issuance of common stock upon exercise of stock options 1,890 141
Proceeds from debt financing 29,007 19,870
Debt payments (390) (20,000)
Venture Loan interest and final payment fee 0 (1,808)
Government loan payment 0 (398)
Short swing profit settlement 244 0
Net cash provided by financing activities 92,408 38,967
Effect of exchange rate changes on cash and cash equivalents (70) (31)
Net increase in cash and cash equivalents 46,252 4,281
Cash and cash equivalents at beginning of period 7,065 9,483
Cash and cash equivalents at end of period 53,317 13,764
Supplemental disclosure of noncash investing and financial activities:    
Transfer from inventory to property and equipment 152 0
Purchases of property and equipment included in accounts payable 53 0
Non-cash directors and officers insurance 0 2,893
Initial warrant liabilities recognized in connection with closing of the Merger 0 8,101
Non-cash Merger financing 0 5,713
Issuance of shares for payment of Lincoln Park Purchase Agreement commitment fee 0 3,271
Conversion of convertible preferred stock to common stock 0 189,871
PIPE    
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 40,000
Lincoln Park Purchase Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 61,346 $ 0