Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2021
USD ($)
Cash Flows From Operating Activities:      
Net income (loss) $ 772 $ (27,260) $ (40,052)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:      
Depreciation and amortization 717 5,725 596
Stock-based compensation 2,931 8,277 9,621
Change in fair value of warrant liabilities (10,909) (24,225) 18,331
Realized loss from sales of short-term investments 0 2,162 0
Realized foreign exchange loss 0 6 0
Accretion of interest income on held-to-maturity securities 0 (1,094) 0
Deferred tax benefit (109) (772) (3,643)
Recapitalization costs attributable to warrant liabilities 0 0 1,731
Loss on disposal of property and equipment 0 68 0
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (873) (5,255) (4,314)
Accounts receivable (1,783) (5,347) (414)
Other non-current assets (12) (663) (119)
Operating right-of-use assets/lease liabilities 4 611 3
Accounts payable and accrued expenses 1,924 9,900 1,964
Deferred revenue 1,322 737 681
Net cash used in operating activities (6,016) (37,130) (15,615)
Cash Flows From Investing Activities:      
Acquisitions, net of cash acquired 0 (48,101) (23,065)
Purchase of intangibles (12,357) 0 0
Purchase of domain name 0 0 (504)
Investment in joint venture 0 (190) 0
Purchase of property and equipment (224) (730) (297)
Purchase of short-term investments 0 (729) (308,772)
Purchase of held-to-maturity investments 0 (227,287) 0
Proceeds from maturities of held-to-maturity investments 0 98,000 0
Proceeds from sales of short-term investments 17,209 258,377 11,300
Net cash provided by / (used in) investing activities 4,628 79,340 (321,338)
Cash Flows From Financing Activities:      
Proceeds from the exercise of common stock options 161 87 144
Taxes paid related to net share settlement of equity awards (3,121) (1,171) (52)
Repayment of note payable 0 0 (1,165)
Proceeds from recapitalization of EIC, net of issuance costs 0 0 213,698
Proceeds from sale of common stock in PIPE, net of issuance costs 0 0 119,634
Net cash (used in) / provided by financing activities (2,960) (1,084) 332,259
Effect of foreign exchange rate changes on cash balances (9) 72 0
Net increase (decrease) in cash and cash equivalents and restricted cash (4,357) 41,198 (4,694)
Cash and cash equivalents and restricted cash - beginning 7,582 3,225 12,276
Cash and cash equivalents and restricted cash - ending 3,225 44,423 7,582
Reconciliation to consolidated balance sheets      
Cash and cash equivalents 2,595 43,296 6,952
Restricted cash 630 1,127 630
Total 3,225 44,423 7,582
Supplemental cash flow information      
Interest 0 0 12
Income taxes 0 0 0
Non-cash investing and financing activities      
New leases under ASC 842 entered into during the period 208 6,364 13
Prepaid expenses and other current assets 0 0 90
Accounts payable and accrued expenses 0 0 (482)
Warrant liability $ 0 $ 0 $ (23,886)