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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 61,338 $ (13,794)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 999 950
Amortization of investment premium paid 990 0
Stock-based compensation 14,742 652
Inventory provision 1,242 0
Change in fair value of public and private placement warrants (118,120) 0
Loss in equity method investment 1,206 732
Non-cash lease expense—operating leases 119 115
Non-cash lease expense—finance leases 142 140
Derivative expense 0 1,386
Other 20 0
Changes in operating assets and liabilities:    
Accounts receivable (1,151) (65)
Inventories (3,920) (1,245)
Prepaid expenses and other current assets (8,377) 344
Accounts payable 5,369 535
Accrued expenses 1,776 907
Interest accrued on notes payable 0 489
Deferred costs (2,217) 0
Contract liabilities 2,308 629
Operating lease liabilities (124) (108)
Other, net (102) 0
Net cash used in operating activities (43,760) (8,333)
Cash flows from investing activities:    
Purchase of investments (304,868) 0
Proceeds from maturities of investments 78,633 0
Proceeds from sales of investments 1,300 0
Equity method investment (4,000) 0
Capital expenditures (2,113) (603)
Net cash used in investing activities (231,048) (603)
Cash flows from financing activities:    
Issuance of convertible notes 0 1,924
Issuance of term notes 0 3,750
Proceeds from PPP loan 0 3,300
Issuance of common stock 0 5,027
Exercise of stock options 5,058 7
Exercise of stock warrants 21,580 0
Warrant redemption payments (72) 0
Principal portion of finance lease liabilities (154) (138)
Net cash provided by financing activities 26,412 13,870
Net change in cash, cash equivalents and restricted cash (248,396) 4,934
Cash, cash equivalents and restricted cash, beginning of period 293,942 1,929
Cash, cash equivalents and restricted cash, end of period 45,546 6,863
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 44,046 5,363
Restricted cash 1,500 1,500
Total cash, cash equivalents and restricted cash 45,546 6,863
Supplemental Cash Flow Elements [Abstract]    
Cash paid for interest 0 0
Cash paid for income taxes 10 0
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property, plant and equipment in accounts payable at the end of period 514 702
Issuance of common stock as contract consideration $ 5,108 $ 0