Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:        
Net loss $ (117,705) $ (80,875) $ (407,464) $ (208,656)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 3,449 2,109 9,020 6,317
Non-cash operating lease expense     1,515 774
Non-cash commitment fee under SEPA     582 0
Non-cash legal settlement     5,532 0
Stock-based compensation expense     60,980 89,758
Gain on fair value change of contingent earnout shares liability (2,067) 25,764 22,869 101,166
Loss on fair value change in private placement warrants liability 0 0 0 1,639
Loss on extinguishment of debt 4,095 0 4,095 0
Non-cash debt discount     900 0
Amortization of debt issuance costs and non-cash interest expense     1,316 0
Inventory     (1,282) 0
Prepaid expenses and other current assets     4,037 (8,915)
Other assets     970 (939)
Accounts payable & accrued expenses and other current liabilities     12,805 40,567
Net cash used in operating activities     (329,863) (180,621)
Cash flows from investing activities:        
Purchases of property and equipment     (88,817) (73,976)
Prepayment to VDL Nedcar     0 (26,134)
Return of prepayment from VDL Nedcar     30,440 0
Net cash used in investing activities     (58,377) (100,110)
Cash flows from financing activities:        
Proceeds from exercise of public warrants     0 6,879
Repurchase of unvested shares     (9) (7)
Payment of offering costs     (1,219) (5,306)
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     2,499 0
Proceeds from PPA     89,100 0
Net cash provided by (used in) financing activities     181,271 (5,377)
Net decrease in cash, cash equivalents, and restricted cash     (206,969) (286,108)
Cash, cash equivalents, and restricted cash, beginning of period     227,492 702,422
Cash, cash equivalents, and restricted cash, end of period 20,523 416,314 20,523 416,314
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets        
Cash and cash equivalents at end of period 6,815 414,904 6,815 414,904
Restricted cash, current at end of period 4,208 1,410 4,208 1,410
Restricted cash, non-current at end of period 9,500 0 9,500 0
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows $ 20,523 $ 416,314 20,523 416,314
Supplemental non-cash investing and financing activities        
Acquisition of property and equipment included in current liabilities     72,375 46,774
Offering costs included in current liabilities     1,189 8,001
Recognition of operating lease right-of-use asset     15,757 2,362
Conversion of private placement warrants to public warrants     0 8,252
Issuance of shares for extinguishment of convertible debt under PPA agreement     81,909 0
Supplemental disclosures of cash flow information        
Cash paid for interest     $ 0 $ 60