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
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (26,386) $ (94,734)
Adjustments to reconcile net loss to net cash used in operating activities    
Gain on remeasurement of private warrants (4,995) 80,697
Share-based compensation 13,750 6,665
Depreciation and amortization 4,259 2,100
Inventory reserves 1,056 0
Deferred income taxes (291) 0
Loss on write-off of deferred loan costs 0 1,900
Amortization of debt issuance costs and debt discounts 572 82
Amortization of right-of-use assets and lease liability (77) 41
Other 612 38
Changes in operating assets and liabilities, net of effects of aquisitions:    
Accounts receivable, net (2,272) (3,529)
Other receivables 2,458 20
Inventories (4,713) (3,204)
Prepaid expenses and other current assets 678 (1,498)
Contract assets (729) 0
Other assets (4) 125
Accounts payable 725 (669)
Accrued and other long-term liabilities (2,034) (2,123)
Unearned revenue and contract liabilities (214) (119)
Net cash used in operating activities (17,605) (14,208)
Cash flows from investing activities    
Purchases of property, plant and equipment (58,902) (23,893)
Acquisition of Novomer, net of cash acquired (14) 0
Net cash used in investing activities (58,916) (23,893)
Cash flows from financing activities    
Proceeds from long-term debt 0 120
Cash paid for debt issuance costs (196) (25)
Proceeds from exercise of stock options 164 1,191
Proceeds from employee stock purchase plan 209 0
Principal payments on long-term debt (44) (27,037)
Cost related to warrants (55) 0
Proceeds from issuance of common stock, net of issuance costs 0 (815)
Net cash provided by (used in) financing activities 78 (26,566)
Net decrease in cash and cash equivalents and restricted cash (76,443) (64,667)
Cash and cash equivalents and restricted cash    
Cash and cash equivalents and restricted cash-beginning of period 286,968 379,897
Cash and cash equivalents and restricted cash-end of period 210,525 315,230
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest 420 130
Cash paid for operating leases 885 798
Changes in accounts payable and accrued liabilities related to purchase of property, plant and equipment $ 7,251 $ 952