XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (19,376) $ (1,109)
Adjustments:    
Depreciation 52 80
Stock-based compensation expense 1,924 181
Bad debt (recoveries) expense (124) 82
Noncash lease costs 0 230
Noncash amortization of debt discount 104 0
Noncash interest expense associated with convertible debt 243 0
Noncash change in fair value of derivatives 10,397 0
Other 12 30
Changes in operating assets and liabilities:    
Accounts receivable (198) (502)
Prepaid expenses and other current assets (5,970) 0
Accounts payable 1,309 (594)
Accrued expenses and other current liabilities (2,969) 796
Deferred revenue 591 438
Net cash used in operating activities (14,005) (368)
Cash flows from investing activities    
Purchase of property, equipment, and software (788) 0
Net cash used in investing activities (788) 0
Cash flows from financing activities    
Proceeds from exercise of stock options 127 40
Proceeds from convertible promissory notes 29,374 0
Trust proceeds from recapitalization 582 0
Restricted cash received related to Forward Share Purchase Agreements 39,032 0
Transaction costs associated with recapitalization (10,397) 0
Payments on related party payables (7) (65)
Net cash provided by (used in) financing activities 58,711 (25)
Net increase (decrease) in cash, cash equivalents, and restricted cash 43,918 (393)
Cash, cash equivalents, and restricted cash, beginning of period 28,695 4,934
Cash, cash equivalents, and restricted cash, end of period 72,613 4,541
Supplemental disclosure of non-cash financing activities    
Stockholder contribution for debt issuance costs 924 0
Conversion of promissory notes into common stock 33,024 0
Forward share purchase agreements 14,170 0
Private warrants 3,916 0
Sponsor shares subject to earnout conditions 6,867 0
Stockholder earn-out rights $ 26,131 $ 0