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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (113,373) $ 80,801
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 1,550 632
Amortization expense 14,046 2,408
Non-cash lease expense 1,449 480
Other 85 2,174
Stock-based compensation expense 41,810 52,136
Amortization of debt discount and issuance costs 0 7
Gain from change in fair value of warrants 0 (51,763)
(Gain) loss from change in fair value of earnout liability 25,503 (112,162)
Deferred income taxes 5 (10,185)
Change in operating assets and liabilities:    
Accounts receivable (8,446) (479)
Inventory 3,157 (2,731)
Prepaid expenses and other current assets (888) 335
Other assets (1,649) 498
Accounts payable, accrued compensation and deferred revenue 20,761 2,778
Operating lease liability (1,452) (466)
Net cash used in operating activities (17,442) (35,537)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment purchases (1,000) 0
Business acquisitions, net of cash acquired 0 (96,355)
Investment in Joint Venture 0 (5,204)
Investment in preferred stock 0 (1,500)
Purchases of property and equipment (3,410) (3,485)
Receipts on notes receivable 0 97
Net cash used in investing activities (4,410) (106,447)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of warrants 0 (38)
Repurchase of common stock 0 (550)
Proceeds from issuance of common stock in connection stock option exercises 1,754 1,512
Proceeds from issuance of common stock in May 2023 public offering 86,941 0
Payment of May 2023 public offering costs (482) 0
Payment of debt issuance costs 0 (2,400)
Net cash provided by (used in) financing activities 88,213 (1,476)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 66,361 (143,460)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 110,337 268,252
CASH AND CASH EQUIVALENTS AT END OF PERIOD 176,698 124,792
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Net assets acquired through change in control of joint venture 0 6,444
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 64 363
Cash paid for interest 0 205
Shares issued in connection with buyout agreement (see Note 18) 22,400 0
Shares issued for business acquisition 0 147,380
Capital expenditures in accounts payable $ 764 $ 803