Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (130,036) $ (116,658)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,421 4,291
Asset impairment charges 58,957
Stock-based compensation 4,778 9,275
Change in fair value of warrant liabilities (6,150) 283
Offering costs allocated to warrant liabilities 903
Inventory write-off 1,490
Amortization of debt discounts 840
Gain on sale of property and equipment (62)
Changes in operating assets and liabilities:    
Accounts receivable (3,683)
Inventory 3,741 61
Prepaid expenses and other 3,613 1,573
Accounts payable 927 (3,490)
Operating lease liabilities and ROU asset, net (13) 35
Accrued expenses and other current liabilities 1,190 1,786
Net cash used in operating activities (60,925) (102,003)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of business (22,174)
Disposal of property and equipment 999
Purchase of property and equipment (120) (7,895)
Net cash used in investing activities (120) (29,070)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Deferred payment related to purchase of business (3,000)
Proceeds from ESPP 27 29
Repayments of term loan (2,350)
Redemption of convertible preferred stock
Proceeds from debt financing 8,942
Proceeds, net of $7,238 and $2,800 expenses, from sale of common stock and warrants 140,195 18,939
Proceeds from allocated warrant liabilities 22,572
Repurchase of common stock (13,965)
Net cash provided by financing activities 134,872 36,517
Effect of currency rate change on cash 4 (65)
Net increase (decrease) in cash, cash equivalents and restricted cash 73,831 (94,621)
Cash, cash equivalents and restricted cash beginning of the period 25,849 120,470
Cash, cash equivalents and restricted cash end of period 99,680 25,849
Supplemental disclosures of cash flow information:    
Interest paid 1,234 88
Purchases of property and equipment included in accounts payable and accrued liabilities 106
Net ATM proceeds received after year-end 2,387
Debt financing costs included in accrued liabilities and other current liabilities 85
Issuance costs included in accrued liabilities and other current liabilities 117
New operating leases and lease amendments $ 898