XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
[1]
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (29,894) $ (17,861)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,978 2,362
Stock-based compensation 22,522 1,118
Change in fair value of earnout liability (12,557) 0
Change in fair value of forward contract (5,077) 0
Change in fair value of derivative warrant liabilities (11,750) 0
Amortization of debt issuance costs 667 0
Changes in operating assets and liabilities:    
Accounts receivable (1,030) (241)
Prepaid expenses and other current assets (2,898) (530)
Other assets 34 (36)
Deferred revenue 123 (119)
Accounts payable (882) 709
Accrued expenses and other current liabilities 2,557 692
Other liabilities 122 (192)
Net cash used in operating activities (35,085) (14,098)
Cash Flows from Investing Activities:    
Purchases of property and equipment (10,636) (3,744)
Net cash used in investing activities (10,636) (3,744)
Cash flows from financing activities    
Proceeds from Business Combination, net of transaction costs paid 225,604 0
Transaction costs paid directly by Rigetti (17,428) 0
Proceeds from issuance of notes payable 5,000 20,000
Payments on debt issuance costs (85) 0
Payment on loan and security agreement exit fees (1,000) 0
Proceeds from issuance of common stock upon exercise of stock options and warrants 5,675 117
Net cash provided by financing activities 217,766 20,117
Effect of changes in exchange rate on cash and restricted cash 46 41
Net increase in cash and restricted cash 172,091 2,316
Cash and restricted cash at beginning of period 12,046 24,394
Cash and restricted cash at end of period 184,137 26,710
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,708 488
Supplemental disclosure of non-cash financing activity:    
Fair value of earn-out liability 20,413 0
Fair value of private placement and public warrants liability 22,932 0
Reclassification of loan and security agreement warrants to equity 6,370 0
Settlement of the first tranche of forward contract 3,305 0
Capitalization of deferred costs to equity upon share issuance 848 0
Purchases of property and equipment recorded in accounts payable $ 428 $ 664
[1] For discussion on the restatement adjustments, see Note 1 — Description of Business — Restatement of Condensed Consolidated Financial Statements and Immaterial Correction of Prior-Period Errors