Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Apr. 03, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 42,707 $ (16,165)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 314 141
Amortization of right-of-use assets 134 0
Stock-based compensation expense 5,238 1,555
Changes in fair value of convertible preferred stock warrants and common stock warrants (67,800) 4,781
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (51) 1,039
Deferred contract costs 8 (816)
Accounts payable (959) 1,172
Accrued expenses and compensation 555 1,260
Other liabilities 165 (1,577)
Net cash used in operating activities (19,689) (8,610)
Cash flows from investing activities:    
Purchase of property and equipment (10,451) (7,141)
Net cash used in investing activities (10,451) (7,141)
Cash flows from financing activities:    
Payments of transaction costs related to Business Combination and PIPE financing 0 (332)
Proceeds from exercise of common stock warrants, net 52,828 0
Proceeds from exercise of convertible preferred stock warrants 102
Proceeds from the exercise of stock options 200 159
Repurchase of unvested restricted common stock (3) (5)
Net cash provided by (used in) financing activities 53,025 (76)
Change in cash, cash equivalents, and restricted cash 22,885 (15,827)
Cash and cash equivalents and restricted cash, beginning of period 385,418 29,218
Cash and cash equivalents, and restricted cash, end of period 408,303 13,391
Supplemental cash flow data (Non-cash):    
Purchase of property and equipment included in liabilities 1,510 1,690
Accrued transaction costs $ 0 $ 3,579