Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:        
Net loss   $ (102,288) $ (45,570)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization   9,524 4,475  
Stock-based compensation   6,216 2,333  
Change in fair value of warrant liability   56,576    
Change in fair value of subscription agreement   474    
Expense related to Common Stock warrants issued     43  
Amortization (accretion) of discount on investments   1,304    
Amortization of debt financing cost   9 10  
Provision for bad debt   164 285 $ (377)
Acquired in-process research and development $ 10,400 10,400    
(Gain) loss on disposal of property and equipment   (7) 10  
Gain on investment, related to Make Composites, Inc.     120  
Net increase in accrued interest related to marketable securities   (1,062)    
Net unrealized (gain) loss on other investments   (517)    
Deferred tax benefit   (32,535)    
Changes in operating assets and liabilities:        
Accounts receivable   (3,584) 1,562  
Inventory   (6,635) (1,378)  
Prepaid expenses and other current assets   (3,732) 1,033  
Other assets   (170)    
Accounts payable   (155) (1,178)  
Accrued expenses and other current liabilities   (5,119) (1,074)  
Customer deposits   (1,372) (57)  
Deferred revenue   693 (756)  
Change in right of use assets and lease liabilities, net   (92) (162)  
Net cash used in operating activities   (71,908) (40,304)  
Cash flows from investing activities:        
Purchases of property and equipment   (1,355) (1,819)  
Purchase of other investments   (3,620)    
Purchase of marketable securities   (281,438) (24,142)  
Proceeds from sales and maturities of marketable securities   66,741 74,616  
Cash paid to acquire in-process research and development   (6,050)    
Cash paid for acquisitions, net of cash acquired   (161,837)    
Net cash (used in) provided by investing activities   (387,559) 48,655  
Cash flows from financing activities:        
Proceeds from the exercise of stock options   3,665 135  
Proceeds from the exercise of stock warrants   170,665    
Payment of taxes related to net share settlement of upon vesting of restricted stock units   (145)    
Proceeds from PPP loan     5,379  
Repayment of PPP loan     (5,379)  
Repayment of term loan   (10,000)    
Net cash provided by financing activities   164,185 135  
Net (decrease) increase in cash, cash equivalents, and restricted cash   (295,282) 8,486  
Effect of exchange rate changes   20    
Cash and cash equivalents at beginning of period   483,525 66,161 66,161
Restricted cash at beginning of period   612 612 612
Cash and cash equivalents at end of period 188,199 188,199 74,647 483,525
Restricted cash at end of period 676 676 612 $ 612
Total cash, cash equivalents and restricted cash, end of period 188,875 188,875 75,259  
Supplemental cash flow information:        
Interest paid   125 182  
Taxes paid   150    
Non-cash investing and financing activities:        
Net unrealized loss on investments   4    
Exercise of private placement warrants   149,904    
Common Stock issued for acquisitions 49,142 208,989    
Cash held back in acquisitions   50    
Additions to right of use assets and lease liabilities   852    
Purchase of property and equipment included in accounts payable   33 139  
Purchase of property and equipment included in accrued expense   33 $ 139  
Contingent consideration in connection with acquisitions   6    
In-process research and development        
Non-cash investing and financing activities:        
Common Stock issued for acquisition of in-process research and development $ 4,300 $ 4,300