Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 03, 2022
Jan. 02, 2022
Current assets:    
Cash and cash equivalents $ 384,730 $ 385,293
Accounts receivable, net 102 0
Inventory 669 0
Deferred contract costs 1,340 4,554
Prepaid expenses and other current assets 2,026 8,274
Total current assets 388,867 398,121
Property and equipment, net 90,932 76,613
Operating lease, right-of-use assets 6,407 6,669
Other assets, non-current 1,049 1,162
Total assets 487,255 482,565
Current liabilities:    
Accounts payable 6,133 3,144
Accrued expenses 3,357 7,109
Accrued compensation 6,579 4,101
Deferred revenue 275 5,575
Other liabilities 722 707
Total current liabilities 17,066 20,636
Warrant liability 30,060 124,260
Operating lease liabilities, non-current 8,661 9,071
Deferred revenue, non-current 2,590 2,290
Other liabilities, non-current 138 191
Total liabilities 58,515 156,448
Commitments and Contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.0001 par value; authorized shares of 1,000,000,000; issued and outstanding shares of 156,678,690 and 152,272,287 as of July 3, 2022 and January 2, 2022, respectively 15 15
Preferred stock, $0.0001 par value; authorized shares of 10,000,000; no shares issued or outstanding as of July 3, 2022 and January 2, 2022, respectively 0 0
Additional paid-in-capital 720,305 659,254
Accumulated deficit (291,580) (333,152)
Total stockholders’ equity 428,740 326,117
Total liabilities and stockholders’ equity $ 487,255 $ 482,565