XML 23 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (144,864) $ (147,496)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 40,079 38,888
Non-cash lease expense 7,161 4,419
Write-off of property, plant and equipment, net 0 36
Impairment of equity method investment 0 4,236
Revaluation of derivative contracts 486 (2,267)
Stock-based compensation expense 57,309 57,385
Gain on remeasurement of investment (1,966) 0
Loss on extinguishment of debt 0 11,785
Amortization of debt issuance costs and premium, net 2,824 (195)
Changes in operating assets and liabilities:    
Accounts receivable 34,291 (4,058)
Contract assets (24,418) (8,596)
Inventories (39,953) (22,772)
Deferred cost of revenue 7,307 1,562
Customer financing receivable 4,022 3,790
Prepaid expenses and other current assets 236 (2,647)
Other long-term assets (374) (3,217)
Accounts payable 37,973 8,704
Accrued warranty (2,357) (525)
Accrued expenses and other current liabilities (26,178) 4,932
Operating lease right-of-use assets and operating lease liabilities (7,593) (4,467)
Deferred revenue and customer deposits (53,181) (15,658)
Other long-term liabilities 1,289 (3,828)
Net cash used in operating activities (107,907) (79,989)
Cash flows from investing activities:    
Purchase of property, plant and equipment (44,625) (33,066)
Cash Acquired from Acquisition 3,114 0
Net cash used in investing activities (41,511) (33,066)
Cash flows from financing activities:    
Proceeds from issuance of debt 0 300,000
Proceeds from issuance of debt to related parties 0 30,000
Repayment of debt (11,017) (92,546)
Repayment of debt - related parties 0 (2,105)
Debt issuance costs 0 (13,247)
Proceeds from financing obligations 7,534 14,807
Repayment of financing obligations (10,174) (7,828)
Contribution from noncontrolling interest 0 4,314
Distributions to noncontrolling interests and redeemable noncontrolling interests (5,322) (6,103)
Proceeds from issuance of common stock 72,109 12,745
Net cash provided by financing activities 53,130 240,037
Effect of exchange rate changes on cash, cash equivalent and restricted cash (521) 0
Net (decrease) increase in cash, cash equivalents and restricted cash (96,809) 126,982
Beginning of period 416,710 377,388
End of period 319,901 504,370
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 42,598 56,607
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 10,332 39,775
Operating cash flows from financing leases 643 3,684
Cash paid during the period for income taxes 372 353
Non-cash investing and financing activities:    
Increase in recourse debt, non-current upon adoption of ASU 2020-06, net 121,491 0
Liabilities recorded for property, plant and equipment 6,188 350
Operating lease liabilities arising from obtaining right-of-use assets upon adoption of new lease guidance 0 39,775
Recognition of operating lease right-of-use asset during the year-to-date period 43,660 3,333
Recognition of financing lease right-of-use asset during the year-to-date period 1,961 351
Conversion of 10% convertible promissory notes to related party into Class A common stock 0 50,800
Accrued interest for notes 0 30
Adjustment of embedded derivative related to debt extinguishment 0 24,071
Convertible Promissory Notes Interest Rate 10% Due December 2021 | Convertible promissory notes    
Non-cash investing and financing activities:    
Conversion of 10% debt financing into additional paid-in capital $ 0 $ 150,670