v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,533 $ 6,394
Restricted cash, current 3,936 3,905
Inventory 9,913 6,153
Prepaids and other current assets 13,597 16,099
Total current assets 28,979 32,551
Property and equipment, net 368,740 377,100
Restricted cash, non-current 10,600 10,600
Operating lease right-of-use assets 30,194 36,241
Deferred warrant asset 50,175 50,175
Deferred battery supplier cost, non-current 28,900 30,000
Other non-current assets 5,701 5,338
Total assets 523,289 542,005
Current liabilities    
Accounts payable 81,015 65,306
Accrued expenses and other current liabilities 75,085 63,901
Convertible debt, current 42,640 51,180
Derivative liability, current 0 860
Financing liability, current 3,604 3,200
Total current liabilities 202,344 184,447
Contingent earnout shares liability 0 41
Operating lease liabilities, non-current 33,158 35,722
Derivative liability, non-current 9,888 25,919
Financing liability, non-current 28,620 28,910
Warrant liability, non-current 26,618 17,390
Other liabilities 702 0
Total liabilities 301,330 292,429
Commitments and contingencies (Note 12)
Redeemable preferred stock, $0.0001 par value; 10,000 authorized, 62 and 45 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively. 8,780 5,607
Stockholders’ equity    
Common stock, $0.0001 par value; 2,000,000 authorized as of September 30, 2024 and December 31, 2023, respectively; 72,902 and 37,591 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively [1] 9 4
Additional paid-in capital [1] 1,807,403 1,725,809
Accumulated deficit (1,594,233) (1,481,844)
Total preferred stock and stockholders’ equity 221,959 249,576
Total liabilities, preferred stock and stockholders’ equity $ 523,289 $ 542,005
[1] Periods presented have been adjusted to reflect the 1-for-23 reverse stock split on March 8, 2024. See Note 1- Organization and Basis of Presentation - Reverse Stock Split, for additional information.

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