Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
 9 Months Ended
Oct. 03, 2021
USD ($)
Sep. 30, 2020
USD ($)
Cash flows from operating activities:    
Net loss $ (41,306) $ (26,308)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 674 436
Amortization of right-of-use assets 388  
Stock-based compensation expense 6,717 197
Changes in fair value of convertible preferred stock warrants and common stock warrants (3,679) 6,756
Issuance of convertible preferred stock warrants (non-cash)   1,476
Change in fair value of convertible promissory notes 0 2,422
Loss on early debt extinguishment 60  
Interest expense (non-cash)   107
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,645) 116
Deferred contract costs (1,279) (1,947)
Accounts payable (357) (122)
Accrued expenses and compensation 3,173 526
Deferred revenue 2,290 185
Deferred rent   686
Other liabilities 450 (61)
Net cash used in operating activities (34,514) (15,531)
Cash flows from investing activities:    
Purchase of property and equipment (31,509) (18,923)
Net cash used in investing activities (31,509) (18,923)
Cash flows from financing activities:    
Proceeds from Business Combination and PIPE financing 405,155  
Payments of transaction costs related to Business Combination and PIPE financing (29,641)  
Proceeds from issuance of convertible preferred stock, net   58,275
Proceeds from secured promissory notes, converted promissory notes and paycheck protection program loan (15,000) (1,628)
Repayment of secured promissory note (15,000)  
Payment of debt issuance costs (90)  
Proceeds from exercise of convertible preferred stock warrants 102  
Proceeds from the exercise of stock options 163 7
Repurchase of unvested restricted common stock (13)  
Net cash provided by financing activities 375,676 59,910
Change in cash, cash equivalents, and restricted cash 309,653 25,456
Cash and cash equivalents and restricted cash, beginning of period 29,218 10,301
Cash and cash equivalents, and restricted cash, end of period 338,871 35,757
Supplemental cash flow data (Non-cash):    
Net liabilities assumed from Business Combination 73,400  
Accrued purchase of property and equipment 2,606 1,411
Accrued purchase of transaction costs $ 1,370  
Conversion of promissory notes to convertible preferred stock   8,073
Settlement of accrued interest expense through conversion of promissory notes to convertible preferred stock   130
Issuance of convertible preferred stock warrants   $ 1,476