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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (149,994) $ (240,219)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 27,640 25,269
Impairment loss 10,402 0
Gain on sale of assets (2,954) 0
Stock-based compensation expense 586 41,553
Gain on debt forgiveness (2,750) 0
Change in fair value of warrant and earn-out contingent liabilities (685) (54,350)
Deferred tax benefit (515) (49,176)
Provision for excess and obsolete inventory 3,634 732
Third party payor reserve release (6,848) 0
Non-cash lease expense 684 1,112
Amortization of deferred debt issuance costs 387 387
Change in operating assets and liabilities:    
Accounts receivable 10,726 5,491
Inventory 682 (5,239)
Accounts payable and accrued expenses (39,913) 28,557
Other assets and liabilities (1,371) (8,618)
Net cash used in operating activities (150,289) (254,501)
Investing activities    
Consideration on escrow paid for GeneDx acquisition (12,144) (127,004)
Purchases of property and equipment (2,874) (4,990)
Proceeds from sale of assets 3,887 0
Purchases of marketable securities (43,935) 0
Proceeds from sales of marketable securities 16,665 0
Development of internal-use software assets (461) (6,494)
Net cash used in investing activities (38,862) (138,488)
Financing activities    
Proceeds from PIPE issuance, net of issuance costs 0 197,659
Proceeds from offerings, net of issuance costs 143,002 0
Finance lease payoff and principal payments (2,133) (2,632)
Long-term debt principal payments (2,000) 0
Exercise of stock options 266 2,223
Net cash provided by financing activities 139,135 197,250
Net decrease in cash, cash equivalents and restricted cash (50,016) (195,739)
Cash, cash equivalents and restricted cash, at beginning of period 138,303 401,469
Cash, cash equivalents and restricted cash, at end of period 88,287 205,730
Supplemental disclosures of cash flow information    
Cash paid for interest 1,116 1,795
Cash paid for taxes 1,178 487
Stock consideration paid for purchase of business 0 172,000
Purchases of property and equipment in accounts payable and accrued expenses 1,220 1,546
Software development costs in accounts payable and accrued expenses $ 0 $ 448