XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 10,837 $ (6,880)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 276 195
Stock-based compensation expense 3,159 729
Bad debt expense 1,023 841
Noncash lease costs 0 230
Noncash amortization of debt discount 369 0
Noncash interest expense associated with convertible debt 243 710
Noncash change in fair value of derivatives (36,264) 0
Other 15 44
Changes in operating assets and liabilities:    
Accounts receivable (675) (674)
Prepaid expenses and other current assets (2,222) (600)
Accounts payable 173 (3)
Accrued expenses and other current liabilities (2,141) 1,713
Deferred revenue 77 594
Net cash used in operating activities (25,130) (3,101)
Cash flows from investing activities    
Additions of property, equipment, and software (2,194) (38)
Net cash used in investing activities (2,194) (38)
Cash flows from financing activities    
Proceeds from exercise of stock options 158 223
Proceeds from convertible promissory notes 29,374 31,470
Proceeds from business combination placed in escrow and restricted 39,032 0
Trust proceeds received from recapitalization at closing 582 0
Repurchase of common stock and settlement of forward purchase agreements (31,303) 0
Transaction costs associated with recapitalization (10,761) 0
Payments on related party payables (17) (242)
Net cash provided by financing activities 27,065 31,451
Net (decrease) increase in cash, cash equivalents, and restricted cash (259) 28,312
Cash, cash equivalents, and restricted cash, beginning of period 28,695 4,934
Cash, cash equivalents, and restricted cash, end of period 28,436 33,246
Supplemental disclosure of non-cash financing activities    
Stockholder contribution for debt issuance costs 924 0
Repurchase of common stock in other accrued expenses 360 0
Conversion of promissory notes into common stock 33,024 0
Issuance of forward share purchase agreements 14,170 0
Issuance of private warrants 3,916 0
Issuance of sponsor shares subject to earnout conditions 6,867 0
Issuance of stockholder earn-out rights $ 26,131 $ 0