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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss from continuing operations $ (966,282) $ (784,238) $ (690,438)
Less: Loss from discontinued operations (101,661) (46,100) 0
Loss from continuing operations (864,621) (738,138) (690,438)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:      
Depreciation and amortization 35,890 22,765 8,231
Stock-based compensation 75,391 252,445 205,711
Non-cash in-kind services 0 0 46,271
Equity in net loss of affiliates 16,418 20,665 3,580
Revaluation of financial instruments 205,589 (174) (3,051)
Revaluation of contingent stock consideration (43,981) 0 0
Inventory write-downs 71,218 19,705 4,927
Non-cash interest expense 79,201 15,481 0
Loss on supplier deposits 28,834 0 0
Gain on divestiture of affiliate (70,849) 0 0
Loss on debt extinguishment 31,025 0 0
Issuance of common stock for commitment shares 0 0 5,564
Other non-cash activity 4,343 873 1,626
Changes in operating assets and liabilities:      
Accounts receivable, net 13,665 (31,638) 0
Inventory (23,756) (141,168) (17,412)
Prepaid expenses and other current assets (44,732) (27,681) (10,967)
Long-term deposits (1,377) (4,306) (4,721)
Other assets (1,530) (912) (1,216)
Accounts payable, accrued expenses and other current liabilities (14,613) 29,669 96,144
Operating lease liabilities (2,009) (843) (50)
Other long-term liabilities 9,716 1,694 48,647
Net cash used in operating activities (496,178) (581,563) (307,154)
Cash flows from investing activities      
Purchases and deposits for property, plant and equipment (120,516) (168,257) (179,269)
Divestiture of affiliates 36,000 0 0
Proceeds from the sale of assets 20,742 18 200
Payments to assignee (2,725) 0 0
Investments in affiliates (250) (23,027) (25,000)
Issuance of senior secured note receivable and prepaid acquisition-related consideration 0 (27,791) 0
Settlement of price differentials 0 (6,588) (3,412)
Net cash used in investing activities (66,749) (225,645) (207,481)
Cash flows from financing activities      
Proceeds from the exercise of stock options 7,395 6,867 4,785
Proceeds from issuances of convertible debt instruments, net of discount and issuance costs 386,733 233,214 0
Proceeds from issuance of common stock under Equity Distribution Agreement, net of commissions paid 115,893 165,143 0
Proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs 0 54,000 24,632
Proceeds from issuance of financing obligations, net of issuance costs 56,148 44,823 0
Proceeds from insurance premium financing 5,223 6,637 0
Payment for Coupon Make-Whole Premiums (35,241) 0 0
Repayment of debt, promissory notes and notes payable (45,469) (30,526) (4,100)
Payments on insurance premium financing (5,369) (4,638) 0
Payments on finance lease liabilities and financing obligation (1,315) (316) (863)
Other financing activities 0 0 (644)
Net cash provided by financing activities 742,983 598,876 187,598
Net increase (decrease) in cash and cash equivalents, including restricted cash and cash equivalents 180,056 (208,332) (327,037)
Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period 313,909 522,241 849,278
Cash and cash equivalents, including restricted cash and cash equivalents, end of period 493,965 313,909 522,241
Cash flows from discontinued operations:      
Operating activities (4,964) 4,857 0
Investing activities (1,804) (2,469) 0
Financing activities (572) (198) 0
Net cash provided by (used in) discontinued operations (7,340) 2,190 0
Supplemental cash flow disclosures:      
Cash paid for interest 8,327 4,097 797
Cash interest received 11,522 1,449 512
Supplemental noncash investing and financing activities:      
Reclassification of conversion features embedded in Toggle Convertible Notes to equity 241,851 0 0
Contingent stock consideration for divestiture of affiliate 25,956 0 0
Reclassification from liability to equity for certain share-based awards 20,992 0 0
Reclassification from equity to liability for certain share-based awards 10,401 0 0
Net assets acquired in Romeo acquisition 0 77,137 0
Purchases of property, plant and equipment included in liabilities 16,083 34,946 27,510
Leased assets obtained in exchange for new finance lease liabilities 32,820 1,547 646
Toggle Unsecured Convertible Notes issued for paid in kind interest 12,998 10,939 0
Accrued PIK interest 1,170 1,998 0
Accrued commissions under Equity Distribution Agreement 49 1,681 0
Embedded derivative asset bifurcated from Convertible Notes 0 1,500 0
Stock option proceeds receivable 0 238 0
Accrued debt and equity issuance costs 887 20 0
Common stock issued for commitment shares 0 0 5,564
Common stock issued for investments in affiliates, including common stock with embedded put right 0 0 32,376
Acquired intangible assets included in liabilities 0 0 47,181
Senior Convertible Notes      
Supplemental noncash investing and financing activities:      
Conversion of convertible note 246,431 0 0
8.25% Convertible Notes      
Supplemental noncash investing and financing activities:      
Conversion of convertible note 131,361 0 0
Embedded derivative liability bifurcated from April 2023 Toggle Convertible Notes 47,250 0 0
April 2023 Toggle Convertible Notes      
Supplemental noncash investing and financing activities:      
Conversion of convertible note 115,152 0 0
Embedded derivative liability bifurcated from April 2023 Toggle Convertible Notes 21,180 0 0
Private Placement      
Cash flows from financing activities      
Proceeds from issuance of shares 67,587 123,672 163,788
Private Offering [Member]      
Cash flows from financing activities      
Proceeds from issuance of shares 63,246 0 0
Common stock issued in public offerings      
Cash flows from financing activities      
Proceeds from public offerings, net of underwriter's discount $ 128,152 $ 0 $ 0