Registration of securities issued in business combination transactions

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:        
Net loss $ (102,288) $ (45,570) $ (34,015) $ (103,596)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 9,524 4,475 8,589 8,087
Stock-based compensation 6,216 2,333 8,006 5,215
Change in fair value of warrant liability 56,576   (56,417)  
Change in fair value of subscription agreement 474      
Expense related to Common Stock warrants issued   43 1,915 1,038
Amortization (accretion) of discount on investments 1,304   75 (1,570)
Amortization of debt financing cost 9 10 19 19
Provision for bad debt 164 285 377 199
Acquired in-process research and development 10,400      
(Gain) loss on disposal of property and equipment (7) 10 18 (7)
Gain on investment, related to Make Composites, Inc.   120    
Net increase in accrued interest related to marketable securities (1,062)   (3) (36)
Net unrealized (gain) loss on other investments (517)      
Deferred tax benefit (32,535)   (940)  
Impairment of capitalized software       444
Changes in operating assets and liabilities:        
Accounts receivable (3,584) 1,562 (2,370) (1,664)
Inventory (6,635) (1,378) (1,303) (1,694)
Prepaid expenses and other current assets (3,732) 1,033 901 809
Other assets (170)      
Accounts payable (155) (1,178) (2,637) (4,455)
Accrued expenses and other current liabilities (5,119) (1,074) (2,391) 3,272
Customer deposits (1,372) (57) (845) 152
Deferred revenue 693 (756) 774 (1,693)
Change in right of use assets and lease liabilities, net (92) (162) (328) (296)
Net cash used in operating activities (71,908) (40,304) (80,575) (97,202)
Cash flows from investing activities:        
Purchases of property and equipment (1,355) (1,819)    
Purchase of other investments (3,620)   (3,000)  
Purchase of marketable securities (281,438) (24,142) (136,286) (215,584)
Proceeds from sales and maturities of marketable securities 66,741 74,616 109,016 196,836
Cash paid to acquire in-process research and development (6,050)      
Cash paid for acquisitions, net of cash acquired (161,837)   (5,284) (96)
Net cash (used in) provided by investing activities (387,559) 48,655 (36,983) (26,032)
Capitalized software       (321)
Cash flows from financing activities:        
Proceeds from the exercise of stock options 3,665 135 325 708
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 5,379  
Repayment of PPP loan   (5,379) (5,379)  
Repayment of term loan (10,000)      
Net cash provided by financing activities 164,185 135 534,922 160,352
Net (decrease) increase in cash, cash equivalents, and restricted cash (295,282) 8,486 417,364 37,118
Effect of exchange rate changes 20      
Cash and cash equivalents at beginning of period 483,525 66,161 66,161 29,043
Restricted cash at beginning of period 612 612 612 612
Cash and cash equivalents at end of period 188,199 74,647 483,525 66,161
Restricted cash at end of period 676 612 612 612
Total cash, cash equivalents and restricted cash, end of period 188,875 75,259 484,137 66,773
Proceeds from Preferred Stock issuances, net of issuance cost       159,644
Supplemental cash flow information:        
Interest paid 125 182 322 485
Taxes paid 150      
Non-cash investing and financing activities:        
Net unrealized loss on investments 4     (1,426)
Exercise of private placement warrants 149,904      
Common Stock issued for acquisitions 208,989   500 3,563
Common Stock issued for acquisition of in-process research and development     500 3,563
Cash held back in acquisitions 50      
Additions to right of use assets and lease liabilities 852     296
Purchase of property and equipment included in accounts payable 33 139   109
Purchase of property and equipment included in accrued expense 33 $ 139   109
Contingent consideration in connection with acquisitions 6      
Net liabilities assumed from Trine in Business Combination     152,395  
Accrued reverse recapitalization transaction costs     1,901  
Common Stock forfeited in satisfaction of note receivable       $ 249
Accrued purchase price for asset acquisition     $ 200  
In-process research and development        
Non-cash investing and financing activities:        
Common Stock issued for acquisition of in-process research and development $ 4,300