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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Loss $ (45,370) $ (25,860) $ (14,527)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 9,653 7,088 3,378
Amortization of debt issuance costs 49 49 41
Stock-based compensation 11,245 6,784 4,246
Warrant expense 0 0 (202)
Deferred taxes 252 (39) 3,038
Change in fair value of preferred stock warrant liability 10,624 (749) 1,329
Changes in assets and liabilities:      
Accounts receivable (9,110) (740) (57)
Inventory (48,476) (13,867) (10,827)
Prepaid expenses and other current assets (11,505) (11,249) (4,746)
Accounts payable and accrued expenses 25,240 1,249 16,162
Other long-term liabilities 5,289 1,944 1,470
Deferred revenue 1,259 812 737
Net cash (used in) provided by operating activities (50,850) (34,578) 42
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (24,181) (14,350) (13,122)
Investment in equity securities (250) (2,000) 0
Changes in security deposits (1,205) 69 (2,056)
Net cash used in investing activities (25,636) (16,281) (15,178)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from initial public offering, net of underwriting discounts and commissions 236,964 0 0
Proceeds from the issuance of preferred stock, net of issuance costs 0 101,749 24,971
Payment of debt issuance costs 0 0 (248)
Proceeds from bank loans 0 18,294 0
Principal payments on bank loans 0 (18,294) 0
Payments of deferred offering costs (4,691) 0 0
Proceeds from the exercise of common stock warrants 395 0 0
Proceeds from the exercise of stock options 5,484 440 588
Other 0 0 393
Net cash provided by financing activities 238,152 102,189 25,704
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (341) 909 (37)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 161,325 52,239 10,531
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year 127,251 75,012 64,481
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of year 288,576 127,251 75,012
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest 118 235 55
Cash paid for taxes 438 110 179
NONCASH INVESTING AND FINANCING ACTIVITIES:      
Purchase of property and equipment included in accrued liabilities 979 138 677
Repurchase of stock options 0 640 0
Non-cash exercise of common stock warrants 39 0 0
Deferred offering costs included in accrued liabilities $ 744 $ 0 $ 0