v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ (417,746) $ (188,298)
Adjustment to reconcile net loss to net cash used in operating activities    
Stock-based compensation 10,940 10,123
Depreciation and amortization 5,259 7,316
(Gain) loss on debt extinguishment (68,478) 3,510
Loss from write-down of property, plant and equipment 3,528 7,151
Amortization of right-of-use assets 974 737
Change in fair value of debt - related party 3,276 0
Change in fair value of warrants 71,510 24,957
Change in fair value of derivatives - related parties 260,227 962
Other 4,858 639
Changes in operating assets and liabilities:    
Prepaid expenses 7 1,474
Inventory (8,838) 2,692
Accounts receivable 189 96
Vendor deposits (449) (4,044)
Contract assets (4,729) (471)
Grant receivable 1,750 (934)
Accounts payable 1,136 (17,770)
Accrued expenses 1,038 12,258
Interest payable - related party 3,097 2,706
Operating lease liabilities (1,117) (830)
Contract liabilities 5,414 (565)
Other 604 (3,346)
Net cash used in operating activities (111,252) (107,578)
Cash flows from investing activities    
Purchases of intangible assets (8) 0
Purchases of property, plant and equipment (20,054) (21,186)
Net cash used in investing activities (20,062) (21,186)
Cash flows from financing activities    
Principal payments on finance lease obligations (89) (93)
Proceeds from exercise of stock options and warrants 463 442
Proceeds from issuance of convertible notes - related party 0 48,050
Proceeds from Credit and Securities Purchase Transaction 98,575 0
Repayment of equipment financing facility (2,447) (2,110)
Proceeds from issuance of common stock 14,089 81,897
Proceeds from issuance of common stock and warrants 0 49,250
Repurchase of shares from employees for income tax withholding purposes (1,122) (587)
Net cash provided by financing activities 77,285 170,607
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2 (5)
Net (decrease) increase in cash, cash equivalents and restricted cash (54,027) 41,838
Cash, cash equivalents and restricted cash, beginning of the period 84,667 31,223
Cash, cash equivalents and restricted cash, end of the period 30,640 73,061
Non-cash investing and financing activities    
Accrued and unpaid capital expenditures 3,216 0
Issuance of convertible notes for interest paid in kind 5,783 4,915
Accretion of Preferred Stock 64,938 0
Fixed assets acquired with finance lease 0 125
Right-of-use operating lease assets in exchange for lease liabilities 0 363
Issuance of common stock upon settlement of Yorkville convertible notes 0 51,023
Accrued and unpaid capitalized internal-use software 0 130
Supplemental disclosures    
Cash paid for interest 4,279 11,269
Nonrelated Party    
Adjustment to reconcile net loss to net cash used in operating activities    
Non-cash interest expense 5,117 3,820
Cash flows from financing activities    
Payment of debt issuance costs - related party (12,238) (1,116)
Payoff of Senior Secured Term Loan (19,946) 0
Related Party    
Adjustment to reconcile net loss to net cash used in operating activities    
Non-cash interest expense 11,181 30,239
Change in fair value of derivatives - related parties 260,227 962
Cash flows from financing activities    
Payment of debt issuance costs 0 (3,046)
Payment of debt issuance costs - related party $ 0 $ (2,080)