Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (180,324) $ (114,164)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization expense 15,943 7,404
Non-cash interest expense, and amortization of debt discount and issuance costs 2,893 0
Stock-based compensation expense 26,932 7,185
Other non-cash compensation expense 5,046 0
Gain from change in the fair value of warrants and earnout shares (49,853) 0
Loss from transaction costs related to merger 9,087 0
Write-off of in-process research and development project 5,030 0
Income from equity method investment and gain on deconsolidation (29,405) (12,703)
Net accretion and amortization of investments in marketable debt securities 4,335 1,179
Deferred income taxes (10,544) 0
Changes in operating assets and liabilities    
Other receivables and prepaid expenses and other current assets (11,807) (3,101)
Other non-current assets 10,480 (82)
Accounts payable and accrued and other liabilities 6,438 8,382
Net cash used in operating activities (195,749) (105,900)
Cash flows from investing activities    
Purchase of marketable securities (401,626) (620,781)
Proceeds from sales of marketable securities 52,448 28,660
Proceeds from maturities of marketable securities 369,636 222,675
Purchases of property and equipment (32,340) (23,306)
Disposal Of Cash on Deconsolidation of Subsidiary 0 (407)
Acquisitions, Net of Cash (6,854) 0
Net cash used in investing activities (18,736) (393,159)
Cash flows from financing activities    
Proceeds from issuance of Series C redeemable convertible preferred stock, net 69,860
Proceeds from merger 1,067,922 0
Payments for offering costs (50,391) 0
Proceeds from issuance of convertible notes 74,972 0
Proceeds from the exercise of stock options and warrants issuance 1,456 369
Repayments of tenant improvement loan and capital lease obligation (1,179) (1,009)
Net cash provided by financing activities 1,092,780 69,220
Net change in cash, cash equivalents and restricted cash 878,295 (429,839)
Cash, cash equivalents and restricted cash, at the beginning of the year 78,030 507,869
Cash, cash equivalents and restricted cash, at the end of the year 956,325 78,030
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets    
Cash and cash equivalents 955,563 77,337
Restricted cash 762 693
Cash, cash equivalents and restricted cash in consolidated balance sheets 956,325 78,030
Non-cash investing and financing activities    
Unpaid property and equipment purchases 654 1,806
Property and equipment purchased through capital leases 926 0
Uber Elevate acquisition in exchange for Series C preferred stock 34,216 0
Uber contractual agreement in exchange for Series C preferred stock 42,938 0
Conversion of Uber note payable to Series C preferred stock 77,399 0
Conversion of preferred stock 846,622 0
Net non-cash assets acquired in merger 1,159
Deconsolidation of net liabilities of fully owned subsidiary due to loss of control $ 0 $ 1,713