v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (112,389,000) $ (273,576,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 10,597,000 10,632,000
Non-cash operating lease expense 2,647,000 2,504,000
Reorganization and related exit costs 16,055,000 0
Inventory write-downs 0 366,000
Stock-based compensation expense 13,730,000 23,451,000
Gain on fair value change of contingent earnout shares liability (41,000) (2,843,000)
Gain on fair value change in warrants liability (60,463,000) (37,093,000)
Gain on fair value change in derivative liability (40,144,000) (2,998,000)
Gain on extinguishment of debt and other (22,650,000) 30,261,000
Loss on fair value change in derivative asset 0 3,761,000
Loss on in fair value change in convertible debt and other 62,226,000 69,615,000
Non-cash debt discount 3,142,000 5,010,000
Non-cash interest expense 4,220,000 2,234,000
Financing charges incurred upon issuance of PPAs 1,820,000 0
Other 849,000 839,000
Changes in assets and liabilities:    
Inventory (3,759,000) (3,096,000)
Prepaid expenses and other current assets 2,502,000 (3,445,000)
Other assets 737,000 (2,511,000)
Accounts payable, accrued expenses, and other current liabilities 10,983,000 (14,546,000)
Net cash used in operating activities (109,938,000) (191,435,000)
Cash flows from investing activities:    
Purchases of property and equipment (9,730,000) (45,376,000)
Net cash used in investing activities (9,730,000) (45,376,000)
Cash flows from financing activities:    
Proceeds from sale of employee retention credits 9,013,000 0
Payment of offering costs 0 (400,000)
Proceeds from exercise of YA warrants 0 21,223,000
Proceeds from issuance of shares under PIPEs 0 11,750,000
Proceeds from employee stock purchase plan 128,000 866,000
Proceeds from issuance of shares under RDO, net of issuance cost 0 50,961,000
Proceeds from convertible debenture 0 107,545,000
Payment of transaction costs 0 (949,000)
Proceeds for issuance of shares under ATM 3,681,000 1,155,000
Payment made on I-40 lease (2,314,000) 0
Proceeds from PPA, net of issuance costs 135,995,000 16,751,000
Repayment of PPAs (48,165,000) 0
Proceeds from preferred shares transaction 16,500,000 0
Net cash provided by financing activities 114,838,000 208,902,000
Net decrease in cash, cash equivalents, and restricted cash (4,830,000) (27,909,000)
Cash, cash equivalents, and restricted cash    
Cash, cash equivalents, and restricted cash, beginning of period 20,899,000 50,615,000
Cash, cash equivalents, and restricted cash, end of period 16,069,000 22,706,000
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents at end of period 1,533,000 8,260,000
Restricted cash, current at end of period 3,936,000 3,846,000
Restricted cash, non-current at end of period 10,600,000 10,600,000
Total cash, cash equivalents, and restricted cash at end of period shown in the Condensed Consolidated Statements of Cash Flows 16,069,000 22,706,000
Supplemental non-cash investing and financing activities    
Acquisition of property and equipment included in current liabilities 57,209,000 63,776,000
Acquisition of property and equipment included in current liabilities during the period 1,750,000 23,820,000
Acquisition of property and equipment included in financing liabilities 0 34,275,000
Offering costs included in current liabilities 903,000 903,000
Recognition of convertible debentures 0 71,438,000
Issuance of shares for extinguishment of convertible debt under PPA agreement 87,418,000 71,911,000
Issuance of shares for extinguishment of convertible debt under convertible debenture 22,254,000 49,219,000
Recognition of warrant liability 26,275,000 112,401,000
Recognition of derivative liability 24,857,000 4,310,000
Recognition of derivative asset 0 5,966,000
Accretion on preferred shares 3,174,000 0
Non-cash settlement of accounts payable 125,000 0
Recognition of operating lease right-of-use asset 0 272,000
Reclassification of warrant liability to additional paid in capital 0 19,510,000
Exchange of equity classified warrants $ 43,416,000 $ 0

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