Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
Cash flows from operating activities:    
Net loss $ (154,094,000) $ (40,441,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 10,566,000 4,388,000
Amortization of right-of-use assets 436,000 407,000
Accretion of discount on investments (1,499,000) 0
Amortization of debt issuance costs 497,000 0
Stock-based compensation 57,832,000 22,117,000
Changes in fair value of common stock warrants (4,140,000) (44,040,000)
Impairment of equipment 4,411,000 0
Changes in operating assets and liabilities:    
Accounts receivable 169,000 (6,000)
Inventory 418,000 (452,000)
Prepaid expenses and other assets 546,000 (2,004,000)
Deferred contract costs 0 3,015,000
Accounts payable 4,338,000 (192,000)
Accrued expenses and compensation 3,113,000 (122,000)
Deferred revenue 0 (3,527,000)
Other liabilities (1,000) (46,000)
Net cash used in operating activities (77,408,000) (60,903,000)
Cash flows from investing activities:    
Purchase of property and equipment (32,979,000) (31,366,000)
Purchases of investments (115,736,000) 0
Maturities of investments 16,700,000 0
Net cash used in investing activities (132,015,000) (31,366,000)
Cash flows from financing activities:    
Proceeds from exercise of common stock warrants, net 0 52,828,000
Proceeds from issuance of Convertible Senior Notes 172,500,000 0
Payments of debt issuance costs (5,251,000) 0
Purchase of Capped Calls (17,250,000) 0
Payroll tax payments for shares withheld upon vesting of RSUs (2,988,000) 0
Proceeds from the exercise of stock options 9,232,000 2,052,000
Proceeds from issuance of common stock under employee stock purchase plan 1,169,000 1,112,000
Repurchase of unvested restricted common stock (23,000) (9,000)
Net cash provided by financing activities 157,389,000 55,983,000
Change in cash, cash equivalents, and restricted cash (52,034,000) (36,286,000)
Cash and cash equivalents and restricted cash, beginning of period 322,976,000 385,418,000
Cash and cash equivalents, and restricted cash, end of period 270,942,000 349,132,000
Supplemental cash flow data (Non-cash):    
Purchase of property and equipment included in liabilities 19,324,000 4,689,000
Accrued acquisition costs 1,115,000 0
Accrued debt issuance costs $ 666,000 $ 794,000