Filed Pursuant to Rule 424(b)(3)
Registration No. 333-260608
PROSPECTUS SUPPLEMENT
Joby Aviation, Inc.
98,357,200 Shares of Common Stock
This prospectus supplement supplements and updates the prospectus dated November 10, 2021, relating to the resale of up to 98,357,200 shares of our common stock by the selling securityholders named in the prospectus (including their pledgees, donees, transferees or other successors-in-interest) (the “Prospectus”).
This prospectus supplement incorporates into the Prospectus the information (other than information that is furnished and not deemed filed) contained in our attached:
Our common stock and warrants are listed on the New York Stock Exchange (“NYSE”) under the symbols “JOBY” and “JOBY WS,” respectively. On November 10, 2021, the closing sale price of our common stock as reported on the NYSE was $9.24 per share and the closing price of our warrants was $2.28 per warrant.
We are an “emerging growth company” under applicable Securities and Exchange Commission rules and, as such, have elected to comply with certain reduced public company disclosure requirements for our filings with the Securities and Exchange Commission.
Our business and investment in our common stock and warrants involve significant risks. These risks are described in the section titled “Risk Factors” in the Prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.
__________________________
The date of this prospectus supplement is November 12, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2021
OR
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from __________ to ____________
Commission File Number: 001-39524
Joby Aviation, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
98-1548118 |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer |
2155 Delaware Avenue, Suite #225 Santa Cruz, CA |
95060 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (831) 426-3733
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.0001 |
|
JOBY |
|
New York Stock Exchange |
Warrants to purchase common stock |
|
JOBY WS |
|
New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
|
☐ |
|
Accelerated filer |
|
☐ |
Non-accelerated filer |
|
☒ |
|
Smaller reporting company |
|
☒ |
Emerging growth company |
|
☒ |
|
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares of registrant’s Common Stock outstanding as of November 8, 2021 was 603,894,394.
Table of Contents
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Page |
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2 |
|
|
|
|
PART I. |
3 |
|
|
|
|
Item 1. |
3 |
|
|
3 |
|
|
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) |
4 |
|
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) |
5 |
|
6 |
|
|
8 |
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited) |
9 |
Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
30 |
Item 3. |
46 |
|
Item 4. |
46 |
|
|
|
|
PART II. |
47 |
|
|
|
|
Item 1. |
47 |
|
Item 1A. |
47 |
|
Item 2. |
47 |
|
Item 3. |
47 |
|
Item 4. |
47 |
|
Item 5. |
47 |
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Item 6. |
48 |
|
|
49 |
|
|
|
i
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following:
Forward-looking statements in this Quarterly Report on Form 10-Q may include, for example, statements about:
The list above is not intended to be an exhaustive list of all of our forward-looking statements. Our forward-looking statements are based on information available as of the date of this Quarterly Report on Form 10-Q and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. While we believe these expectations, forecasts, assumptions and judgments are reasonable, our forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Our business, prospects, financial condition, operating results and the price of our common stock may be affected by a number of factors, whether currently known or unknown, including but not limited to those discussed in this Quarterly Report in Part I., Item 1. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the section titled “Risk Factors” in our Registration Statement on Form S-1 (File No. 333-260608), filed with the SEC on October 29, 2021. Any one or more of these factors could, directly or indirectly, cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements.
Unless the context otherwise requires, references in this Quarterly Report on Form 10-Q to the “company,” “Joby Aviation,” “we,” “us” and “our” refer to Joby Aviation, Inc.
2
PART 1. FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements (Unaudited)
JOBY AVIATION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share amounts)
|
|
September 30, |
|
|
December 31, |
|
||
Assets |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
1,016,496 |
|
|
$ |
77,337 |
|
Short-term investments |
|
|
345,991 |
|
|
|
368,587 |
|
Other receivables |
|
|
2,419 |
|
|
|
2,227 |
|
Prepaid expenses and other current assets |
|
|
17,588 |
|
|
|
3,032 |
|
Total current assets |
|
|
1,382,494 |
|
|
|
451,183 |
|
Property and equipment, net |
|
|
43,977 |
|
|
|
34,126 |
|
Restricted cash |
|
|
762 |
|
|
|
693 |
|
Equity method investment |
|
|
20,177 |
|
|
|
10,990 |
|
Intangible assets |
|
|
13,818 |
|
|
|
— |
|
Goodwill |
|
|
4,880 |
|
|
|
— |
|
Other non-current assets |
|
|
65,861 |
|
|
|
262 |
|
Total assets |
|
$ |
1,531,969 |
|
|
$ |
497,254 |
|
Liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
3,558 |
|
|
$ |
4,928 |
|
Tenant improvements loan, current portion |
|
|
259 |
|
|
|
244 |
|
Capital lease, current portion |
|
|
1,006 |
|
|
|
792 |
|
Deferred rent, current portion |
|
|
362 |
|
|
|
295 |
|
Accrued expenses and other current liabilities |
|
|
2,418 |
|
|
|
1,746 |
|
Total current liabilities |
|
|
7,603 |
|
|
|
8,005 |
|
Tenant improvements loan, net of current portion |
|
|
750 |
|
|
|
946 |
|
Capital lease, net of current portion |
|
|
741 |
|
|
|
661 |
|
Deferred rent, net of current portion |
|
|
1,044 |
|
|
|
1,321 |
|
Warrant Liability |
|
|
64,765 |
|
|
|
— |
|
Earnout Shares Liability |
|
|
151,323 |
|
|
|
— |
|
Stock repurchase liability |
|
|
1,072 |
|
|
|
1,177 |
|
Total liabilities |
|
|
227,298 |
|
|
|
12,110 |
|
Commitments and contingencies (Note 9) |
|
|
|
|
|
|
||
Redeemable convertible preferred stock: $0.0001 par value - 100,000,000 and 364,736,031 shares authorized at September 30, 2021 and December 31, 2020, no shares and 332,764,215 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively (Cumulative liquidation preference nil and $769,679 at September 30, 2021 and December 31, 2020, respectively) |
|
|
— |
|
|
|
768,312 |
|
Stockholders’ equity (deficit): |
|
|
|
|
|
|
||
Common stock: $0.0001 par value - 1,400,000,000 shares and 517,865,383 authorized at September 30, 2021 and December 31, 2020, 604,335,426 and 122,058,940 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively |
|
|
60 |
|
|
|
— |
|
Additional paid-in capital |
|
|
1,786,118 |
|
|
|
12,591 |
|
Accumulated deficit |
|
|
(481,655 |
) |
|
|
(296,286 |
) |
Accumulated other comprehensive income |
|
|
148 |
|
|
|
527 |
|
Total stockholders’ equity (deficit) |
|
|
1,304,671 |
|
|
|
(283,168 |
) |
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) |
|
$ |
1,531,969 |
|
|
$ |
497,254 |
|
The accompanying notes are an integral part of these condensed consolidated financial statements.
3
JOBY AVIATION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except share and per share data)
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Research and development (including related party |
|
$ |
52,092 |
|
|
$ |
30,713 |
|
|
$ |
140,310 |
|
|
$ |
76,940 |
|
Selling, general and administrative (including related |
|
|
15,607 |
|
|
|
5,515 |
|
|
|
41,587 |
|
|
|
15,112 |
|
Total operating expenses |
|
|
67,699 |
|
|
|
36,228 |
|
|
|
181,897 |
|
|
|
92,052 |
|
Loss from operations |
|
|
(67,699 |
) |
|
|
(36,228 |
) |
|
|
(181,897 |
) |
|
|
(92,052 |
) |
Interest and other income, net |
|
|
163 |
|
|
|
1,081 |
|
|
|
872 |
|
|
|
4,813 |
|
Interest expense |
|
|
(484 |
) |
|
|
(65 |
) |
|
|
(2,388 |
) |
|
|
(193 |
) |
Income from equity method investment |
|
|
10,331 |
|
|
|
286 |
|
|
|
19,222 |
|
|
|
286 |
|
Gain on disposal of subsidiary |
|
|
— |
|
|
|
6,904 |
|
|
|
— |
|
|
|
6,904 |
|
Transaction expenses related to merger |
|
|
(9,015 |
) |
|
|
— |
|
|
|
(9,015 |
) |
|
|
— |
|
Loss from changes in fair value of derivative liability |
|
|
(11,489 |
) |
|
|
— |
|
|
|
(11,489 |
) |
|
|
— |
|
Convertible notes extinguishment loss |
|
|
(665 |
) |
|
|
— |
|
|
|
(665 |
) |
|
|
— |
|
Total other income (loss) |
|
|
(11,159 |
) |
|
|
8,206 |
|
|
|
(3,463 |
) |
|
|
11,810 |
|
Loss before income taxes |
|
|
(78,858 |
) |
|
|
(28,022 |
) |
|
|
(185,360 |
) |
|
|
(80,242 |
) |
Income tax expense |
|
|
— |
|
|
|
6 |
|
|
|
9 |
|
|
|
23 |
|
Net loss |
|
$ |
(78,858 |
) |
|
$ |
(28,028 |
) |
|
$ |
(185,369 |
) |
|
$ |
(80,265 |
) |
Net loss per share, basic and diluted |
|
$ |
(0.20 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.91 |
) |
|
$ |
(0.79 |
) |
Weighted-average common stock outstanding, basic |
|
|
385,560,732 |
|
|
|
104,760,660 |
|
|
|
203,536,351 |
|
|
|
102,103,326 |
|
The accompanying notes are an integral part of these condensed consolidated financial statements.
4
JOBY AVIATION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(unaudited)
(In thousands)
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
||||
Net loss |
|
$ |
(78,858 |
) |
|
$ |
(28,028 |
) |
|
$ |
(185,369 |
) |
|
$ |
(80,265 |
) |
Other comprehensive (loss) gain: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Foreign currency translation gain (loss) |
|
|
(94 |
) |
|
|
194 |
|
|
|
(42 |
) |
|
144 |
|
|
Unrealized (loss) gain on available-for-sale |
|
|
(14 |
) |
|
|
(517 |
) |
|
|
(337 |
) |
|
847 |
|
|
Total other comprehensive (loss) gain |
|
|
(108 |
) |
|
|
(323 |
) |
|
|
(379 |
) |
|
991 |
|
|
Comprehensive loss |
|
$ |
(78,966 |
) |
|
$ |
(28,351 |
) |
|
$ |
(185,748 |
) |
|
$ |
(79,274 |
) |
The accompanying notes are an integral part of these condensed consolidated financial statements.
5
JOBY AVIATION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)
(unaudited)
(In thousands, except share data)
|
|
Preferred Stock |
|
|
|
Common Stock |
|
|
Additional |
|
|
|
|
|
Accumulated |
|
|
Total |
|
||||||||||||||
|
|
Shares |
|
|
Amount |
|
|
|
Shares |
|
|
Amount |
|
|
Paid-In |
|
|
Accumulated |
|
|
Comprehensive |
|
|
Stockholders’ |
|
||||||||
Balance at January 1, 2021 |
|
|
332,764,215 |
|
|
$ |
768,312 |
|
|
|
|
122,058,940 |
|
|
$ |
12 |
|
|
$ |
12,579 |
|
|
$ |
(296,286 |
) |
|
$ |
527 |
|
|
$ |
(283,168 |
) |
Net loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(41,505 |
) |
|
|
— |
|
|
|
(41,505 |
) |
Issuance of redeemable convertible preferred stock |
|
|
8,924,010 |
|
|
|
77,619 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
4,808 |
|
|
|
— |
|
|
|
— |
|
|
|
4,808 |
|
Other noncash compensation expense |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
1,741 |
|
|
|
— |
|
|
|
— |
|
|
|
1,741 |
|
Issuance of common stock upon exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
|
746,830 |
|
|
|
— |
|
|
|
303 |
|
|
|
— |
|
|
|
— |
|
|
|
303 |
|
Vesting of early exercised stock options |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
75 |
|
|
|
— |
|
|
|
— |
|
|
|
75 |
|
Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(309 |
) |
|
|
(309 |
) |
Balance at March 31, 2021 |
|
|
341,688,225 |
|
|
|
845,931 |
|
|
|
|
122,805,770 |
|
|
|
12 |
|
|
|
19,506 |
|
|
|
(337,791 |
) |
|
|
218 |
|
|
|
(318,055 |
) |
Net loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(65,006 |
) |
|
|
— |
|
|
|
(65,006 |
) |
Issuance of redeemable convertible preferred stock |
|
|
2,677,200 |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
6,992 |
|
|
|
— |
|
|
|
— |
|
|
|
6,992 |
|
Other noncash compensation expense |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
2,006 |
|
|
|
— |
|
|
|
— |
|
|
|
2,006 |
|
Issuance of common stock upon exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
|
592,948 |
|
|
|
— |
|
|
|
217 |
|
|
|
— |
|
|
|
— |
|
|
|
217 |
|
Vesting of early exercised stock options |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
Other comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
38 |
|
|
|
38 |
|
Balance at June 30, 2021 |
|
|
344,365,425 |
|
|
|
845,931 |
|
|
|
|
123,398,718 |
|
|
|
12 |
|
|
|
28,833 |
|
|
|
(402,797 |
) |
|
|
256 |
|
|
|
(373,696 |
) |
Net loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(78,858 |
) |
|
|
— |
|
|
|
(78,858 |
) |
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
7,618 |
|
|
|
— |
|
|
|
— |
|
|
|
7,618 |
|
Other noncash compensation expense |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
2,028 |
|
|
|
— |
|
|
|
— |
|
|
|
2,028 |
|
Issuance of common stock upon exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
|
699,852 |
|
|
|
— |
|
|
|
347 |
|
|
|
— |
|
|
|
— |
|
|
|
347 |
|
Issuance of common stock upon exercise of SVB warrants |
|
|
— |
|
|
|
— |
|
|
|
|
752,732 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Issuance of redeemable convertible preferred stock upon exercise of In-Q-Tel warrants |
|
|
68,629 |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
691 |
|
|
|
|
|
|
|
|
|
691 |
|
||
Issuance of common stock upon conversion of Uber convertible notes |
|
|
— |
|
|
|
— |
|
|
|
|
7,716,780 |
|
|
|
1 |
|
|
|
77,398 |
|
|
|
|
|
|
|
|
|
77,399 |
|
||
Conversion of redeemable convertible preferred stock into common stock in connection with the reverse recapitalization |
|
|
(344,434,054 |
) |
|
|
(845,931 |
) |
|
|
|
344,434,054 |
|
|
|
34 |
|
|
|
845,897 |
|
|
|
— |
|
|
|
— |
|
|
|
845,931 |
|
Issuance of common stock upon the reverse recapitalization, net of issuance costs |
|
|
— |
|
|
|
— |
|
|
|
|
127,333,290 |
|
|
|
13 |
|
|
|
823,256 |
|
|
|
— |
|
|
|
— |
|
|
|
823,269 |
|
Vesting of early exercised stock options |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
50 |
|
|
|
— |
|
|
|
— |
|
|
|
50 |
|
Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(108 |
) |
|
|
(108 |
) |
Balance at September 30, 2021 |
|
|
— |
|
|
$ |
— |
|
|
|
|
604,335,426 |
|
|
$ |
60 |
|
|
$ |
1,786,118 |
|
|
$ |
(481,655 |
) |
|
$ |
148 |
|
|
$ |
1,304,671 |
|
The accompanying notes are an integral part of these condensed consolidated financial statements.
6
JOBY AVIATION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (CONTINUED)
(unaudited)
(In thousands, except share data)
|
|
Preferred Stock |
|
|
|
Common Stock |
|
|
Additional |
|
|
|
|
|
Accumulated |
|
|
Total |
|
||||||||||||||
|
|
Shares |
|
|
Amount |
|
|
|
Shares |
|
|
Amount |
|
|
Paid-In |
|
|
Accumulated |
|
|
Comprehensive |
|
|
Stockholders’ |
|
||||||||
Balance at January 1, 2020 |
|
|
320,181,375 |
|
|
$ |
698,452 |
|
|
|
|
121,537,571 |
|
|
$ |
12 |
|
|
$ |
4,945 |
|
|
$ |
(182,122 |
) |
|
$ |
(28 |
) |
|
$ |
(177,193 |
) |
Net loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(25,361 |
) |
|
|
— |
|
|
|
(25,361 |
) |
Issuance of redeemable convertible preferred stock, net of issuance costs of $512 |
|
|
8,210,082 |
|
|
|
45,488 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
850 |
|
|
|
— |
|
|
|
— |
|
|
|
850 |
|
Issuance of common stock upon exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
|
84,023 |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
|
|
— |
|
|
|
17 |
|
Repurchase of common stock |
|
|
— |
|
|
|
— |
|
|
|
|
(55,463 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Vesting of early exercised stock options |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
104 |
|
|
|
— |
|
|
|
— |
|
|
|
104 |
|
Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(570 |
) |
|
|
(570 |
) |
Balance at March 31, 2020 |
|
|
328,391,457 |
|
|
|
743,940 |
|
|
|
|
121,566,131 |
|
|
|
12 |
|
|
|
5,916 |
|
|
|
(207,483 |
) |
|
|
(598 |
) |
|
|
(202,153 |
) |
Net loss |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(26,876 |
) |
|
|
— |
|
|
|
(26,876 |
) |
Issuance of redeemable convertible preferred stock, net of issuance costs of $121 |
|
|
4,372,758 |
|
|
|
24,372 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
1,815 |
|
|
|
— |
|
|
|
— |
|
|
|
1,815 |
|
Issuance of common stock upon exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
|
233,810 |
|
|
|
— |
|
|
|
47 |
|
|
|
— |
|
|
|
— |
|
|
|
47 |
|
Repurchase of common stock |
|
|
— |
|
|
|
— |
|
|
|
|
(131,681 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
Vesting of early exercised stock options |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
82 |
|
|
|
— |
|
|
|
— |
|
|
|
82 |
|
Other comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|