Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (15,227) $ (30,890)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,124 1,685
Non-cash operating lease expense (584) 155
Debt discount amortization   2,638
Stock-based compensation 45,146 389
Gain on fair value change in contingent earnout share liability (83,560)  
Gain (loss) on fair value change in private placement warrants liability (1,639)  
Other   18
Changes in operating assets and liabilities:    
Prepaids and other current assets (9,176) (91)
Other assets 253 362
Accounts payable 3,635 169
Accrued expenses and other current liabilities 1,899 1,958
Operating lease liabilities (168) (100)
Other long-term liabilities 71  
Net cash used in operating activities (53,948) (23,707)
Cash flows from investing activities:    
Purchases of property and equipment (12,108) (738)
Net cash used in investing activities (12,108) (738)
Cash flows from financing activities:    
Proceeds from related party convertible debt and derivative liability   15,000
Proceeds from public warrants exercised 6,867  
Repurchase of unvested shares (2)  
Payment of offering costs (1,306)  
Repurchase of restricted ordinary shares (2)  
Net cash provided by financing activities 5,559 15,000
Net increase in cash, cash equivalents, and restricted cash (60,497) (9,445)
Cash, cash equivalents, and restricted cash, beginning of period 702,422 29,507
Cash, cash equivalents, and restricted cash, end of period 641,925 20,062
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents at end of period 641,925 19,562
Restricted cash at end of period   500
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows 641,925 20,062
Supplemental non-cash investing and financing activities    
Acquisition of property and equipment included in current liabilities 8,189  
Offering costs included in accounts payable 12,001  
Recognition of operating lease right of use asset 1,171  
Gain on extinguishment of convertible debt recorded in additional paid-in capital   $ 8,264
Conversion of private placement warrants to public warrants $ 8,252