v3.23.2
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (40,320) $ (29,894)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,249 2,978
Stock-based compensation 5,058 22,522
Change in fair value of earn-out liabilities 631 (12,557)
Change in fair value of derivative warrant liabilities 878 (11,750)
Change in fair value of forward contract 1,144 (5,077)
Impairment of deferred offering costs 836 0
Amortization of debt issuance costs 428 416
Accretion of available-for-sale securities (1,571) 0
Accretion of debt commitment fee 158 116
Accretion of debt end-of-term liabilities 96 135
Non-cash lease expense 764 0
Changes in operating assets and liabilities:    
Accounts receivable (1,394) (1,030)
Prepaid expenses and other current assets (888) (2,898)
Other assets (1) 34
Deferred revenue (128) 123
Accounts payable (1,298) (882)
Accrued expenses and other current liabilities (2,260) 2,557
Other liabilities 0 122
Net cash used in operating activities (33,618) (35,085)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (5,735) (10,636)
Purchases of available-for-sale securities (57,619) 0
Maturities of available-for-sale securities 60,589 0
Net cash used in investing activities (2,765) (10,636)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Business Combination, net of transaction costs paid   225,604
Transaction costs paid directly by Rigetti 0 (17,428)
Proceeds from issuance of notes payable 0 5,000
Payment on principal of notes payable (2,858) 0
Payments on deferred offering costs (107) 0
Payments on debt issuance costs 0 (85)
Payment on loan and security agreement exit fees 0 (1,000)
Proceeds from sale of common stock through Common Stock Purchase Agreement 2,348  
Proceeds from issuance of common stock upon exercise of stock options and warrants 903 5,675
Net cash provided by financing activities 286 217,766
Effects of exchange rate changes on cash and cash equivalents (79) 46
Net (decrease) increase in cash and cash equivalents (36,176) 172,091
Cash and cash equivalents - beginning of period 57,888 12,046
Cash and cash equivalents - end of period 21,712 184,137
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 2,330 1,708
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Initial fair value of earn-out liability acquired in merger 0 20,413
Initial fair value of private placement and public warrant liability acquired in merger 0 22,932
Exercise of loan and security agreement warrants   6,370
Settlement of the first tranche of forward contract   3,305
Unrealized gain on short-term investments 241 0
Capitalization of deferred costs to equity upon share issuance 13 848
Purchases of property and equipment recorded in accounts payable 307 428
Purchases of property and equipment recorded in accrued expenses $ 33 $ 0