Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (161,602) $ (289,757)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9,137 5,570
Non-cash operating lease expense 1,658 966
Non-cash commitment fee under SEPA 0 582
Stock-based compensation expense 16,543 41,453
Gain on fair value change of contingent earnout shares liability (2,564) (24,936)
Gain on fair value change in warrants liability 23,015 0
Loss on fair value change in derivative liability 50 0
Loss on extinguishment of debt 27,688 0
Non-cash debt discount 1,538 0
Non-cash interest expense 1,386 0
Non-cash offering cost associated with the warrant liability 800 0
Common shares issued to vendor for services 250
Inventory (2,358) 0
Prepaid expenses and other current assets (2,060) 136
Other assets (2,614) 574
Accounts payable, accrued expenses and other current liabilities 5,619 27,847
Net cash used in operating activities (129,544) (237,565)
Cash flows from investing activities:    
Purchases of property and equipment (33,905) (65,420)
Return of prepayment from VDL Nedcar 0 30,440
Net cash (used in) investing activities (33,905) (34,980)
Cash flows from financing activities:    
Repurchase of unvested shares 0 (6)
Payment of offering costs (400) (250)
Proceeds from exercise of YA warrants 21,223 0
Proceeds from the purchase of shares and warrants by VDL Nedcar 0 8,400
Proceeds from issuance of shares under SEPA agreement 0 32,500
Proceeds from issuance of shares under PIPE 8,750 50,000
Proceeds from employee stock purchase plan 635 1,986
Proceeds from issuance of shares under RDO, net of issuance cost 50,961 0
Proceeds from convertible debenture 45,120 0
Payment of transaction costs 25 0
Payment made on financing arrangement (205) 0
Proceeds for issuance of shares under ATM 1,155 0
Proceeds from PPA 5,001 0
Net cash provided by financing activities 132,215 92,630
Net decrease in cash, cash equivalents, and restricted cash (31,234) (179,915)
Cash, cash equivalents, and restricted cash    
Cash, cash equivalents, and restricted cash, beginning of period 50,615 227,492
Cash, cash equivalents, and restricted cash, end of period 19,381 47,577
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents at end of period 4,993 33,799
Restricted cash, current at end of period 3,788 3,528
Restricted cash, non-current at end of period 10,600 10,250
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows 19,381 47,577
Supplemental non-cash investing and financing activities    
Acquisition of property and equipment included in current liabilities 68,050 66,075
Acquisition of property and equipment included in current liabilities during the period 58,459 53,703
Acquisition of property and equipment included in financing liabilities 34,275 0
Offering costs included in current liabilities 903 932
Recognition of operating lease right-of-use asset 272 13,058
Reclassification of warrant liability to additional paid-in capital 19,510 0
Issuance of shares for extinguishment of convertible debt under PPA agreement 64,389 0
Issuance of shares for extinguishment of convertible debt under convertible debenture 19,021 0
Recognition of warrant liability 47,942 0
Recognition of derivative liability 4,310 0
Supplemental disclosures of cash flow information    
Cash paid for interest $ 0 $ 0