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 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:        
Net loss   $ (169,167) $ (65,027)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization   15,576 6,525  
Stock-based compensation   16,167 4,228  
Change in fair value of warrant liability   56,576    
Change in fair value of subscription agreement liability   2,920    
Expense related to Common Stock warrants issued     43  
Amortization (accretion) of discount on investments   2,189 34  
Amortization of debt financing cost   9 14  
Provision for bad debt   316 333 $ (377)
Acquired in-process research and development $ 15,181 25,581    
(Gain) loss on disposal of property and equipment   19 10  
Net increase in accrued interest related to marketable securities   (414) 162  
Net unrealized loss on equity investment 1,900 1,880    
Net unrealized gain on other investments   (639)    
Deferred tax benefit   (32,761)    
Change in fair value of contingent consideration (200) (166)    
Changes in operating assets and liabilities:        
Accounts receivable   (8,476) 2,881  
Inventory   (11,067) (1,958)  
Prepaid expenses and other current assets   (3,096) 1,082  
Other assets   (118)    
Accounts payable   4,243 (5,800)  
Accrued expenses and other current liabilities   (9,294) 430  
Customer deposits   (1,298) (547)  
Deferred revenue   1,295 (1,094)  
Change in right of use assets and lease liabilities, net   (340) (243)  
Other liabilities   6    
Net cash used in operating activities   (110,059) (58,927)  
Cash flows from investing activities:        
Purchases of property and equipment   (4,145) (1,039)  
Purchase of other investments   (3,620)    
Purchase of equity investment   (20,000)    
Purchase of marketable securities   (330,873) (62,810)  
Proceeds from sales and maturities of marketable securities   163,882 94,116  
Cash paid to acquire in-process research and development   (21,220)    
Cash paid for acquisitions, net of cash acquired   (191,146)    
Net cash (used in) provided by investing activities   (407,122) 30,267  
Cash flows from financing activities:        
Proceeds from the exercise of stock options   5,241 255  
Proceeds from the exercise of stock warrants   170,665    
Payment of taxes related to net share settlement upon vesting of restricted stock units   (454)    
Proceeds from PPP loan     5,379  
Repayment of PPP loan     (5,379)  
Repayment of term loan   (10,000)    
Deferred financing costs paid     (400)  
Net cash provided by (used in) financing activities   165,452 (145)  
Net (decrease) increase in cash, cash equivalents, and restricted cash   (351,729) (28,805)  
Effect of exchange rate changes   (56)    
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 131,676 131,676 37,356 483,525
Restricted cash at end of period 676 676 612 $ 612
Total cash, cash equivalents and restricted cash, end of period $ 132,352 132,352 37,968  
Supplemental cash flow information:        
Interest paid   137 253  
Taxes paid   150    
Non-cash investing and financing activities:        
Net unrealized loss on investments   11    
Exercise of private placement warrants   149,904    
Common Stock issued for acquisitions   208,989    
Cash held back in acquisitions   50    
Additions to right of use assets and lease liabilities   891    
Purchase of property and equipment included in accounts payable   77    
Purchase of property and equipment included in accrued expense   33 $ 79  
Contingent consideration in connection with acquisitions   6,083    
Taxes related to net share settlement upon vesting of restricted stock awards in accrued expense   958    
Forgiveness of PPP Loan   3,376    
In-process research and development        
Non-cash investing and financing activities:        
Common Stock issued for acquisition of in-process research and development   $ 4,300