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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (142,137) $ (100,243)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 3,255 4,683
Amortization of debt issuance costs 656 269
Stock-based compensation expense 8,930 2,155
Loss on disposal of property and equipment 46 824
Provision for inventory obsolescence 2,917 3,872
Revaluation of preferred stock warrant 20,470 515
Other 1,285 226
Changes in operating assets and liabilities:    
Accounts receivable (4,297) (15,029)
Inventory (96,582) (97,524)
Prepaid expenses and other current assets (6,639) (3,168)
Other assets (2,246) (2,389)
Accounts payable 10,478 8,769
Accrued expenses 15,679 9,995
Deferred revenue (24) 2,530
Other liabilities 5,335 4,487
Net cash used in operating activities (182,874) (180,028)
Investing activities    
Purchase of property and equipment (5,057) (2,024)
Net cash used in investing activities (5,057) (2,024)
Financing activities    
Repayments of long-term debt   (5,835)
Proceeds from vehicle floorplan 842,865 705,281
Repayments of vehicle floorplan (767,359) (611,838)
Payment of vehicle floorplan upfront commitment fees (1,125)  
Proceeds from the issuance of redeemable convertible preferred stock, net 21,694  
Repurchase of common stock (1,818) (542)
Common stock shares withheld to satisfy employee tax withholding obligations (2,915)  
Proceeds from the issuance of common stock in connection with IPO, net of underwriting discount 504,023  
Payments of costs related to IPO (6,791)  
Proceeds from the issuance of common stock in connection with follow-on public offering, net of underwriting discount 569,471  
Payments of costs related to follow-on public offering (196)  
Proceeds from exercise of stock options 133 365
Other financing activities (315) 221
Net cash provided by financing activities 1,157,667 87,652
Net (decrease) increase in cash, cash equivalents and restricted cash 969,736 (94,400)
Cash, cash equivalents and restricted cash at the beginning of period 219,587 163,509
Cash, cash equivalents and restricted cash at the end of period 1,189,323 69,109
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,340 8,713
Cash paid for income taxes 163 209
Supplemental disclosure of non-cash investing and financing activities:    
Accretion of redeemable convertible preferred stock   109,529
Costs related to follow-on public offering included in accrued expenses and accounts payable 1,323  
Conversion of redeemable convertible preferred stock warrant to common stock warrant 21,873  
Issuance of common stock as upfront payment to nonemployee 2,127  
Accrued property and equipment expenditures $ 55 342
IPO    
Supplemental disclosure of non-cash investing and financing activities:    
Costs related to IPO included in accrued expenses and accounts payable   $ 113