Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Jan. 02, 2022
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:    
Net loss $ (125,874) $ (39,650)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 995 579
Amortization of right-of-use assets 520 0
Stock-based compensation expense 10,711 666
Changes in fair value of convertible preferred stock warrants and common stock warrants 56,141 13,789
Issuance of convertible preferred stock warrants (non-cash) 0 1,476
Change in fair value of convertible promissory notes 0 2,422
Loss (gain) on early debt extinguishment 60 (1,628)
Interest expense (non-cash) 0 107
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (2,497) (577)
Deferred contract costs (967) (2,482)
Accounts payable 1,523 1,826
Accrued expenses and compensation 5,193 2,617
Deferred revenue 2,370 185
Deferred rent 0 681
Other liabilities 519 (61)
Net cash used in operating activities (51,306) (20,050)
Cash flows from investing activities:    
Purchase of property and equipment (43,584) (26,953)
Net cash used in investing activities (43,584) (26,953)
Cash flows from financing activities:    
Proceeds from Business Combination and PIPE financing 405,155 0
Payments of transaction costs related to Business Combination and PIPE financing (31,410) 0
Proceeds from issuance of convertible preferred stock, net 0 63,932
Proceeds from exercise of common stock warrants 77,170 0
Proceeds from secured promissory notes, converted promissory notes and paycheck protection program loan 15,000 0
Proceeds from paycheck protection program loan 0 1,628
Repayment of secured promissory note (15,000) 0
Payment of debt issuance costs (90) 0
Proceeds from Exercise of Convertible Preferred Stock Warrants 102 0
Proceeds from the exercise of stock options 190 360
Repurchase of unvested restricted common stock (27) 0
Net cash provided by financing activities 451,090 65,920
Change in cash, cash equivalents, and restricted cash 356,200 18,917
Cash and cash equivalents and restricted cash, beginning of period 29,218  
Cash and cash equivalents, and restricted cash, end of period 385,418 29,218
Supplemental cash flow data (Non-cash):    
Net liabilities assumed from Business Combination (73,400) 0
Accrued purchase of property and equipment 5,488 3,181
Conversion of promissory notes to convertible preferred stock 0 8,073
Settlement of accrued interest expense through conversion of promissory notes to convertible preferred stock 0 130
Issuance of convertible preferred stock warrants 0 1,476
Gain on extinguishment of the paycheck protection program loan $ 0 $ 1,628