Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (116,658) $ (110,218)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,291 1,253
Stock-based compensation 9,275 10,914
Change in fair value of warrant liabilities 283
Offering costs allocated to warrant liabilities 903
Gain on sale of property and equipment (62)
Changes in operating assets and liabilities:    
Inventory 61
Prepaid expenses and other 1,573 (164)
Accounts payable (3,490) (1,045)
Operating lease liabilities and ROU asset, net 35 2
Accrued expenses and other current liabilities 1,786 1,205
Net cash used in operating activities (102,003) (98,053)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (7,895) (48,147)
Disposal of property and equipment 999
Purchase of a business (22,174)
Net cash used in investing activities (29,070) (48,147)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from ESPP 29 40
Proceeds, net of $6,659 expenses, from sale of convertible redeemable preferred stock 40,591
Redemption of convertible preferred stock (47,250)
Proceeds from debt financing 8,942
Proceeds, net of $2,800 and $3,078 expenses, from sale of common stock and warrants 18,939 94,463
Proceeds from allocated warrant liabilities 22,572
Repurchase of common stock (13,965)
Net cash provided by financing activities 36,517 87,844
Effect of currency rate change on cash (65) (74)
Net decrease in cash, cash equivalents and restricted cash (94,621) (58,430)
Cash, cash equivalents and restricted cash beginning of the period 120,470 178,900
Cash, cash equivalents and restricted cash end of period 25,849 120,470
Supplemental disclosures of cash flow information:    
Purchases of property and equipment included in accounts payable and accrued liabilities 106 3,092
Debt financing costs included in accrued liabilities and other current liabilities 85
Issuance costs included in accrued liabilities and other current liabilities 117
Preferred stock deemed dividend 6,659
New operating leases and lease amendments $ 898 $ 386