Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net loss $ (164,392) $ (112,554) $ (289,757) $ (127,780)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 2,892 2,083 5,570 4,207
Non-cash operating lease expense     966 235
Non-cash commitment fee under SEPA     582 0
Stock-based compensation     41,453 70,660
Gain on fair value in contingent earnout shares liability (9,471) 8,157 (24,936) (75,402)
Loss on fair value change in private placement warrants liability 0 0 0 1,639
Changes in operating assets and liabilities:        
Prepaids and other current assets     136 (7,714)
Other assets     574 256
Accounts payable, accrued expenses and other current liabilities     27,847 25,081
Net cash used in operating activities     (237,565) (108,818)
Cash flows from investing activities:        
Purchases of property and equipment     (65,420) (28,653)
Return of prepayment to VDL Nedcar     30,440 0
Net cash used in investing activities     (34,980) (28,653)
Cash flows from financing activities:        
Proceeds from exercise of public warrants     0 6,867
Repurchase of unvested shares     (6) (4)
Payment of offering costs     (250) (1,306)
Repayment of PPP loan     0 (6,943)
Proceeds from the purchase of shares and warrants by VDL Nedcar     8,400 0
Proceeds from issuance of shares under SEPA Agreement     32,500 0
Proceeds from issuance of shares under PIPE     50,000 0
Proceeds from employee stock purchase plan     1,986 0
Net cash provided by (used in) financing activities     92,630 (1,386)
Net decrease in cash, cash equivalents, and restricted cash     (179,915) (138,857)
Cash, cash equivalents, and restricted cash, beginning of period     227,492 702,422
Cash, cash equivalents, and restricted cash, end of period 47,577 563,565 47,577 563,565
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets        
Cash and cash equivalents at end of period 33,799 563,075 33,799 563,075
Restricted cash, current at end of period 3,528 490 3,528 490
Restricted cash, non-current at end of period 10,250 0 10,250 0
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows $ 47,577 $ 563,565 47,577 563,565
Supplemental non-cash investing and financing activities        
Acquisition of property and equipment included in current liabilities     66,075 37,887
Offering costs included in current liabilities     932 12,001
Recognition of operating lease right-of-use asset     13,058 2,003
Conversion of private placement warrants to public warrants     0 8,252
Supplemental disclosures of cash flow information        
Cash paid for interest     $ 0 $ 60