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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows provided by operating activities:      
Net loss $ (24,718) $ (256,915) $ (112,625)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, amortization and accretion 88,191 93,884 96,237
Stock-based compensation expense 22,489 10,754 6,729
Noncash consideration, net, associated with wholesale capacity contract (3,210) (292) 0
Reduction in the value of long-lived assets and inventory 363 175,079 1,246
Noncash interest and accretion expense 14,739 30,231 38,459
Noncash portion of loss (gain) on extinguishment of debt 10,194 (2,790) (3,098)
Loss on equity issuance 5,010 0 0
Noncash expenses associated with SSA, net of amortization 3,070 0 0
Unrealized foreign currency (gain) loss (4,972) 6,615 6,394
Other, net (816) 762 (464)
Changes in operating assets and liabilities:      
Accounts receivable 12,693 (1,009) 1,361
Inventory (4,154) (2,380) (80)
Prepaid expenses and other current assets (3,235) 952 (5,266)
Other assets 610 (183) 82
Accounts payable and accrued expenses (3,408) (11,371) (3,647)
Payables to affiliates 133 (118) (136)
Other non-current liabilities (53) (2,561) (609)
Deferred revenue (38,585) 23,142 107,298
Net cash provided by operating activities 74,341 63,800 131,881
Cash flows used in investing activities:      
Payments under the satellite procurement agreement (135,939) (14,000) 0
Payments for other network upgrades to support the Service Agreements (22,859) (18,233) (37,037)
Payments of capitalized interest (8,810) 0 (395)
Payments for network upgrades to support product development (6,907) (7,076) (6,307)
Sale of property and equipment 0 0 350
Purchase of intangible assets (1,097) (643) (1,797)
Net cash used in investing activities (175,612) (39,952) (45,186)
Cash flows provided by (used in) financing activities:      
Proceeds from 2023 13% Notes 190,000 0 0
Proceeds from 2023 Funding Agreement 117,253 0 0
Principal payments of 2021 Funding Agreement (12,500) 0 0
Dividends paid on Series A Preferred Stock (11,942) 0 0
Payments for debt and equity issuance costs (8,556) (626) (286)
Net proceeds from equity plan transactions (181) 919 747
Net proceeds from common stock offering and exercise of warrants 0 0 43,678
Premium refund from the 2009 Facility Agreement 0 0 2,569
Net cash provided (used in) by financing activities 125,793 (6,048) (140,282)
Effect of exchange rate changes on cash and cash equivalents 140 (22) (132)
Net increase (decrease) in cash and cash equivalents 24,662 17,778 (53,719)
Cash and cash equivalents, beginning of period 32,082 [1] 14,304 [1] 68,023
Cash and cash equivalents, end of period [1] 56,744 32,082 14,304
Cash paid for:      
Interest 13,512 0 5,534
Income taxes 333 197 188
Supplemental disclosure of non-cash financing and investing activities:      
Increase in capitalized accrued interest for network upgrades 5,603 12,164 2,973
Capitalized accretion of debt discount and amortization of prepaid financing costs 5,429 1,830 612
Satellite construction assets acquired through vendor financing arrangement 0 59,822 0
Satellite construction assets in accrued expenses 58,187 36,139 0
Principal amount of 2019 Facility Agreement converted into preferred equity 0 149,425 0
Forgiveness of principal and interest of PPP Loan 0 0 5,030
Re-characterization of 2021 Funding Agreement to debt due to 2023 amendment 87,950 0 0
Construction in progress assets acquired through XCOM SSA 2,776 0 0
Fair value of warrants issued to Thermo for the guarantee associated with the 2023 Funding Agreement 5,010 0 0
Lease Agreements      
Supplemental disclosure of non-cash financing and investing activities:      
Fair value of common stock issued 58,534 0 0
SSA      
Supplemental disclosure of non-cash financing and investing activities:      
Fair value of common stock issued 11,887 0 0
2019 Facility Agreement      
Cash flows provided by (used in) financing activities:      
Repayments of credit facility (148,281) (6,341) 0
2009 Facility Agreement      
Cash flows provided by (used in) financing activities:      
Repayments of credit facility $ 0 $ 0 $ (186,990)
[1] Cash and cash equivalents on the consolidated balance sheet is equal to cash and cash equivalents on the statement of cash flows