Cash Flow

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities:    
Net loss $ (63,411) $ (36,145)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,175 1,686
Non-cash lease expense 596 690
Dividend and interest income (162)
Change in fair value of other liabilities 1,128 60
Provision for bad debt 1,024 730
Provision for slow moving and obsolete inventory (14) 149
Gain on settlement of debt (379)
Stock-based compensation:    
Common stock 4,986 1,532
Options 2,835 8,776
Changes in operating assets and liabilities:    
Accounts receivable (7,289) (2,986)
Inventory (15,790) (3,575)
Prepaid expenses and other current assets 3,372 (2,240)
Other assets (391) 240
Accounts payable, accrued expenses and other current liabilities 6,811 1,151
Other liabilities 54 39
Lease liabilities (412) (505)
Deferred revenue 3,550 986
Total Adjustments 5,635 6,192
Net Cash Used In Operating Activities (57,776) (29,953)
Cash Flows From Investing Activities:    
Proceeds from sale of marketable securities 6,804
Note receivable (1,500)
Purchase consideration of SemaConnect, net of cash acquired (38,338)
Purchase consideration of Electric Blue, net of cash acquired (11,360)
Purchase of marketable securities (60,267)
Capitalization of engineering costs paid (797) (237)
Cash acquired in the purchase of Blue Corner 243
Purchase consideration of Blue Corner (22,985)
Purchases of property and equipment (2,230) (5,540)
Net Cash Used In Investing Activities (54,225) (81,982)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering [1] [1] 221,333
Repayment of notes payable (588)
Proceeds from exercise of options and warrants 201 1,619
Repayment of financing liability in connection with finance lease (144)
Repayment of financing liability in connection with internal use software (235) (39)
Net Cash (Used In) Provided By Financing Activities (766) 222,913
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash (5,193) (165)
Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (117,960) 110,813
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 175,049 22,417
Cash and Cash Equivalents and Restricted Cash - End of Period 57,089 133,230
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 57,019 133,153
Restricted cash 70 77
Total Cash and cash equivalents and restricted cash 57,089 133,230
Cash paid during the period for:    
Interest
Income taxes 55
Non-cash investing and financing activities:    
Common stock issued as consideration for property and equipment 600
Common stock issued as purchase consideration of SemaConnect 113,837
Common stock issued as purchase consideration of Electric Blue 2,852
Common stock issued as purchase consideration of Blue Corner 790
Interest expense converted into principal 2
Right of use assets obtained in exchange for operating lease liabilities 398 1,713
Property and equipment obtained in exchange for finance lease obligations 931
Change in fair value of marketable securities (49)
Intangible assets obtained in exchange for financing liability 660
Transfer of inventory to property and equipment $ (3,131) $ 1,839
[1] Includes gross proceeds of $232,060, less issuance costs of $10,727.

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