Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 4,513 $ 6,394
Restricted cash, current 3,983 3,905
Inventory 9,302 6,153
Prepaids and other current assets 15,557 16,099
Total current assets 33,355 32,551
Property and equipment, net 380,129 377,100
Restricted cash, non-current 10,600 10,600
Operating lease right-of-use assets 34,489 36,241
Deferred warrant asset 50,175 50,175
Deferred battery supplier cost, non-current 28,900 30,000
Other non-current assets 5,674 5,338
Total assets 543,322 542,005
Current liabilities    
Accounts payable 73,634 65,306
Accrued expenses and other current liabilities 70,591 63,901
Convertible debt, current 47,228 51,180
Derivative liability, current 0 860
Financing liability, current 3,573 3,200
Total current liabilities 195,026 184,447
Contingent earnout shares liability 0 41
Operating lease liabilities, non-current 34,035 35,722
Derivative liability, non-current 33,242 25,919
Financing liability, non-current 28,727 28,910
Warrant liability, non-current 55,995 17,390
Total liabilities 347,025 292,429
Commitments and contingencies (Note 11)
Redeemable preferred stock, $0.0001 par value; 10,000 authorized, 62 and 45 shares issued and outstanding as of June 30, 2024, and December 31, 2023 respectively. 7,546 5,607
Stockholders’ equity    
Common stock, $0.0001 par value; 2,000,000 authorized as of June 30, 2024 and December 31, 2023, respectively; 72,902 and 37,591 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively (1) [1] 7 4
Additional paid-in capital (1) [1] 1,786,235 1,725,809
Accumulated deficit (1,597,491) (1,481,844)
Total preferred stock and stockholders’ equity 196,297 249,576
Total liabilities, preferred stock and stockholders’ equity $ 543,322 $ 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.