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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (142,996) $ (104,287)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 6,028 2,059
Amortization of debt issuance costs 698 375
Stock-based compensation expense 8,212 4,700
Provision to record inventory at lower of cost or net realizable value 3,093 (1,564)
Revaluation of preferred stock warrant   20,470
Other 2,818 632
Changes in operating assets and liabilities:    
Accounts receivable (41,393) 14,863
Inventory (99,412) 66,247
Prepaid expenses and other current assets (26,669) (7,909)
Other assets (3,948) (1,285)
Accounts payable 36,507 919
Accrued expenses 26,306 4,714
Deferred revenue 16,788 (1,835)
Other liabilities 62,117 1,905
Net cash (used in) provided by operating activities (151,851) 4
Investing activities    
Purchase of property and equipment (8,943) (3,128)
Acquisition of business, net of cash acquired (76,145)  
Net cash used in investing activities (85,088) (3,128)
Financing activities    
Proceeds from vehicle floorplan 1,070,110 465,663
Repayments of vehicle floorplan (1,035,727) (529,341)
Payment of vehicle floorplan upfront commitment fees   (1,125)
Proceeds from issuance of convertible senior notes 625,000  
Issuance costs paid for convertible senior notes (16,175)  
Proceeds from the issuance of redeemable convertible preferred stock, net   21,694
Repurchase of common stock   (1,818)
Common stock shares withheld to satisfy employee tax withholding obligations   (878)
Proceeds from the issuance of common stock in connection with IPO, net of underwriting discount   504,023
Payments of costs related to IPO   (1,740)
Proceeds from exercise of stock options 4,381 13
Other financing activities   (66)
Net cash provided by financing activities 647,589 456,425
Net increase in cash, cash equivalents and restricted cash 410,650 453,301
Cash, cash equivalents and restricted cash at the beginning of period 1,090,039 219,587
Cash, cash equivalents and restricted cash at the end of period 1,500,689 672,888
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,713 2,743
Cash paid for income taxes 269  
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of common stock for acquisition of business 39,030  
Fair value of unvested stock options assumed for acquisition of business 1,017  
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 $ 420 611
IPO    
Supplemental disclosure of non-cash investing and financing activities:    
Costs related to IPO included in accrued expenses and accounts payable   $ 5,051