Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (36,489) $ (23,566)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,085 760
Loss on disposal of fixed assets 0 12
Change in fair value of warrants 3,990 (7,183)
Foreign currency transactions (11) 33
Stock-based compensation 5,482 (1,838)
FedEx warrant provision 1,710 0
Changes in operating assets and liabilities:    
Accounts receivable (7,129) (1,962)
Inventories (3,393) (1,249)
Deferred fulfillment costs (5,946) (13,552)
Contract assets (521) 1,598
Prepaid expenses and other assets 940 (1,469)
Accounts payable 2,308 348
Accrued expenses 354 (553)
Contract liabilities 11,945 16,417
Other liabilities (256) (34)
Net cash used in operating activities (25,931) (32,238)
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (140) (46)
Net cash used in investing activities (140) (46)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 480 822
Net cash provided by financing activities 480 822
Effect of exchange rate on cash 8 (46)
Net (decrease) in cash, cash equivalents, and restricted cash (25,583) (31,508)
Cash, Cash Equivalents and Restricted Cash, Beginning Balance 65,576 171,951
Cash, Cash Equivalents and Restricted Cash, Ending Balance 39,993 140,443
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Right of use asset 0 (8,154)
Lease Liability 0 10,287
Net investment in lease 0 884
Purchase of property and equipment included in accounts payable and accrued expenses 20 147
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 38,739 139,581
Restricted Cash 1,254 862
Total cash, cash equivalents, and restricted cash $ 39,993 $ 140,443