Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities:    
Net loss $ (37,764) $ (20,823)
Adjustments to reconcile net loss to net cash  used in operating activities:    
Depreciation and amortization 3,393 1,945
Non-cash lease expense 215
Dividend and interest income (62)
Change in fair value of derivative and other liabilities 73 7
Provision for bad debt 798 253
Provision for slow moving and obsolete inventory 161
Stock-based compensation:    
Common stock 962 1,139
Options 2,027 2,945
Changes in operating assets and liabilities:    
Accounts receivable (2,728) (1,803)
Inventory (8,105) (3,373)
Prepaid expenses and other current assets 4,270 (1,220)
Other assets (1,339) 245
Accounts payable, accrued expenses and other current liabilities 4,491 (283)
Other liabilities 50
Lease liabilities (146) (177)
Deferred revenue 2,656 262
Total Adjustments 6,778 (122)
Net Cash Used In Operating Activities (30,986) (20,945)
Cash Flows From Investing Activities:    
Proceeds from sale of marketable securities 4,553
Purchase consideration of SemaConnect, net of cash and restricted cash acquired (38,338)
Purchase consideration of Electric Blue, net of cash acquired (11,360)
Purchase of marketable securities (58,013)
Capitalization of engineering costs paid (288) (237)
Cash acquired in the purchase of Blue Corner 243
Purchase consideration of Blue Corner (22,985)
Purchases of property and equipment (2,247) (5,019)
Net Cash Used In Investing Activities (52,233) (81,458)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering [1] 221,333
Proceeds from exercise of options and warrants 92 1,427
Repayment of financing liability in connection with finance lease (71)
Repayment of financing liability in connection with internal use software (235) (39)
Net Cash (Used In) Provided By Financing Activities (214) 222,721
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash (2,350) (606)
Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (85,783) 119,712
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 175,049 22,418
Cash and Cash Equivalents and Restricted Cash - End of Period 89,266 142,130
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 85,136 142,053
Restricted cash 4,130 77
Total Cash and cash equivalents and restricted cash 89,266 142,130
Cash paid during the period for:    
Interest
Income taxes 20
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 258 1,358
Assets obtained in exchange for lease obligations 931
Change in fair value of marketable securities (43)
Intangible assets obtained in exchange for financing liability 660
Transfer of inventory to property and equipment $ (2,024) $ (868)
[1] Includes gross proceeds of $232,060, less issuance costs of $10,727.