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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:    
Net loss $ (50,159) $ (75,843)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 3,343 3,314
Amortization of right-of-use assets 1,798 1,564
Amortization of debt discounts and issuance costs 50 6,201
Amortization of insurance premiums 2,834 4,353
Inventory (recoveries) write-downs 2,940 (1,876)
Impairment of property and equipment and assets held-for-sale 4,823 1,591
Change in fair value of derivative instruments (274) (671)
Change in fair value of earn-out shares liability (39) (519)
Net realized losses on marketable debt securities, available-for-sale 0 91
Stock-based compensation expense 7,710 7,906
Bad debt expense 962 78
Other non-cash items (148) 56
Changes in operating assets and liabilities:    
Accounts receivable (12,690) (6,982)
Inventories (1,558) 22,049
Prepaid expenses and other current assets (1,562) (4,244)
Other assets (2,654) (739)
Accounts payable 5,406 (133)
Other liabilities (9,577) 4,518
Net cash used in operating activities (48,795) (39,286)
Investing Activities:    
Purchases of property and equipment (304) (1,385)
Proceeds from the disposal of assets held for sale 125 1,295
Proceeds from sales and maturities of marketable debt securities, available-for-sale 0 50,720
Net cash acquired in acquisition of ElectraMeccanica Vehicles Corp 51,355 0
Net cash provided by investing activities 51,176 50,630
Financing Activities:    
Principal payment for equipment leases (2,347) (3,026)
Proceeds from short-term insurance financing note 3,107 3,770
Payment for short-term insurance financing note (2,830) (4,832)
Payments of convertible notes 0 (32,800)
Payments of prepayment premiums 0 (1,640)
Stock option exercises 10 8
Taxes paid related to net share settlement of stock-based awards (1,012) (1,060)
Proceeds from issuance of Common Stock under Standby Equity Purchase Agreement 47 1,201
Net cash used in financing activities (3,025) (38,379)
Net decrease in cash, cash equivalents and restricted cash (644) (27,035)
Cash, cash equivalents and restricted cash, beginning of year 11,640 38,675
Cash, cash equivalents and restricted cash, end of year 10,996 11,640
Cash and cash equivalents 10,996 11,640
Total cash, cash equivalents and restricted cash 10,996 11,640
Supplemental disclosure of cash flow information    
Cash paid for interest 0 1,524
Income Taxes Paid, Net 17 0
Supplemental disclosure of non-cash investing and financing activities    
Purchase of property and equipment in accounts payable, net (35) 7
Conversion of interest payable on convertible notes 0 12
Conversion of convertible notes 0 200
Net assets acquired in acquisition of ElectraMeccanica Vehicles Corp. 54,630 0
Xos common stock issued in exchange for ElectraMeccanica Vehicles Corp. $ (31,856) $ 0