XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (143,976) $ (203,912)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 35,668 30,697
Non-cash lease expense 16,184 8,800
Loss (gain) on disposal of property, plant and equipment 196 (523)
Revaluation of derivative contracts 1,099 1,680
Write-off of assets related to PPA IIIa 0 44,800
Stock-based compensation 55,845 57,774
Amortization of warrants and debt issuance costs 1,786 1,651
Loss on extinguishment of debt 2,873 4,233
Unrealized foreign currency exchange loss 1,512 2,276
Other 0 3,487
Changes in operating assets and liabilities:    
Accounts receivable (99,951) 8,938
Contract assets 11,544 (8,173)
Inventories (197,346) (62,824)
Deferred cost of revenue (7,544) (8,995)
Customer financing receivable 0 2,510
Prepaid expenses and other current assets 1,958 (5,813)
Other long-term assets 3,415 0
Operating lease right-of-use assets and operating lease liabilities (15,447) 2,422
Finance lease liabilities 736 48
Accounts payable 35,894 50,585
Accrued warranty (2,426) 0
Accrued expenses and other current liabilities (35,719) (18,017)
Deferred revenue and customer deposits (26,766) (10,158)
Other long-term liabilities (730) 0
Net cash used in operating activities (361,195) (98,514)
Cash flows from investing activities:    
Purchase of property, plant and equipment (46,150) (44,728)
Proceeds from sale of property, plant and equipment 25 0
Net cash used in investing activities (46,125) (44,728)
Cash flows from financing activities:    
Proceeds from issuance of debt 634,018 0
Payment of debt issuance costs (15,828) 0
Repayment of debt of PPA IIIa 0 (30,212)
Debt make-whole payment related to PPA IIIa debt 0 (2,413)
Repayment of recourse debt (72,852) (10,729)
Proceeds from financing obligations 2,702 0
Repayment of financing obligations (8,728) (16,475)
Distributions and payments to noncontrolling interests 0 (4,415)
Proceeds from issuance of common stock 9,258 5,981
Proceeds from exercise of options 0 1,317
Proceeds from issuance of redeemable convertible preferred stock 310,957 0
Contributions from noncontrolling interest 6,979 0
Purchase of capped call related to convertible notes (54,522) 0
Other (158) 0
Net cash provided by (used in) financing activities 811,826 (56,946)
Effect of exchange rate changes on cash, cash equivalent and restricted cash (328) (747)
Net decrease in cash, cash equivalents and restricted cash 404,178 (200,935)
Beginning of period 518,366 615,114
End of period 922,544 414,179
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 22,345 25,938
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 15,318 4,387
Operating cash flows from finance leases 509 462
Cash paid during the period for income taxes 950 982
Non-cash investing and financing activities:    
Transfer of customer financing receivable to property, plant and equipment, net 0 42,758
Liabilities recorded for property, plant and equipment, net 4,790 15,988
Recognition of operating lease right-of-use asset during the year-to-date period 14,037 11,192
Recognition of finance lease right-of-use asset during the year-to-date period 736 0
Derecognition of the pre-modification forward contract fair value 76,242 0
Equity component of Series B redeemable convertible preferred stock $ 16,145 $ 0