Cash Flow

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net loss $ (184,004) $ (63,411)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,694 5,175
Non-cash lease expense 1,695 596
Change in fair value of contingent consideration 28
Gain on disposal of fixed assets (99)
Change in fair value of derivative and other accrued liabilities 10 1,128
Provision for bad debt 1,776 1,024
Provision for slow moving and obsolete inventory 376 (14)
Loss on extinguishment of notes payable 1,000
Impairment of goodwill 89,087
Impairment of intangible assets 5,143
Stock-based compensation:    
Common stock 11,486 4,986
Options 3,975 2,835
Warrants 5,082
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (19,655) (7,289)
Inventory (14,844) (15,790)
Prepaid expenses and other current assets (631) 3,372
Other assets 947 (391)
Accounts payable and accrued expenses 9,101 6,811
Other liabilities (295) 54
Lease liabilities (3,014) (412)
Deferred revenue 5,980 3,550
Total Adjustments 106,842 5,635
Net Cash Used In Operating Activities (77,162) (57,776)
Cash Flows From Investing Activities:    
Purchase consideration of Envoy, net of cash acquired (4,660)
Purchase consideration of SemaConnect, net of cash acquired (38,338)
Purchase consideration of Electric Blue, net of cash acquired (11,360)
Note receivable (1,500)
Capitalization of engineering costs (526) (797)
Purchases of property and equipment (7,265) (2,230)
Net Cash Used In Investing Activities (12,451) (54,225)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering, net [1] 122,379
Proceeds from exercise of options and warrants 835 201
Repayment of notes payable (588)
Repayment of financing liability in connection with finance lease (2,103) (144)
Repayment of financing liability in connection with internal use software (220) (235)
Net Cash Provided By (Used In) Financing Activities 120,891 (766)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,159) (5,193)
Net Increase (Decrease) In Cash and Cash Equivalents and Restricted Cash 30,119 (117,960)
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 36,633 175,049
Cash and Cash Equivalents and Restricted Cash - End of Period 66,752 57,089
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 66,678 57,019
Restricted cash 74 70
Total Cash and cash equivalents and restricted cash 66,752 57,089
Cash paid during the period for:    
Interest
Income taxes 55
Non-cash investing and financing activities:    
Common stock issued as purchase consideration of SemaConnect 113,837
Common stock issued as purchase consideration of Electric Blue 2,852
Common stock issued in satisfaction of accrued issuable equity 2,600
Surrender and cancellation of common stock (197)
Right-of-use assets obtained in exchange for lease obligations 5,386 398
Property and equipment obtained in exchange for finance lease obligations 3,733 931
Intangible assets obtained in exchange for financing liability 122 660
Transfer of inventory to property and equipment (1,688) (3,131)
Note receivable applied to purchase consideration of Envoy $ (1,321)
[1] Includes gross proceeds of $128,260, less issuance costs of $5,881.

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