Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (191,099) $ (185,369)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization expense 17,422 11,467
Non-cash interest expense and amortization of debt costs 0 2,892
Stock-based compensation expense 51,905 19,418
Write-off of in-process research and development project 0 5,030
Other non-cash compensation expense 0 5,775
Loss from transaction costs related to merger 0 9,015
(Gain)/loss from change in the fair value of warrants and earnout shares (72,072) 11,578
Income from equity method investment (19,039) (9,187)
Net accretion and amortization of investments in marketable debt securities (874) 3,893
Changes in operating assets and liabilities    
Other receivables and prepaid expenses and other current assets (2,924) (11,227)
Other non-current assets 31,852 (9,856)
Accounts payable and accrued and other liabilities 2,011 (435)
Net cash used in operating activities (182,818) (147,006)
Cash flows from investing activities    
Purchase of marketable securities (1,221,114) (336,914)
Proceeds from sales of marketable securities 60,527 47,139
Proceeds from maturities of marketable securities 614,734 308,141
Purchases of property and equipment (24,412) (20,694)
Acquisition, net of cash (5,707) (4,981)
Net cash used in investing activities (575,972) (7,309)
Cash flows from financing activities    
Taxes paid related to net share settlement of equity awards (85) 0
Proceeds from merger 0 1,067,922
Proceeds from issuance of convertible notes 0 74,972
Proceeds from the exercise of stock options and warrants issuance 1,166 1,179
Repayments of tenant improvement loan and capital lease obligation (806) (813)
Payments for offering costs 0 (49,717)
Net cash provided by financing activities 275 1,093,543
Net change in cash, cash equivalents and restricted cash (758,515) 939,228
Cash, cash equivalents and restricted cash, at the beginning of the period 956,325 78,030
Cash, cash equivalents and restricted cash, at the end of the period 197,810 1,017,258
Reconciliation of cash, cash equivalents and restricted cash to balance sheets    
Cash and cash equivalents 193,844 1,016,496
Restricted cash 3,966 762
Cash, cash equivalents and restricted cash 197,810 1,017,258
Non-cash investing and financing activities    
Unpaid property and equipment purchases 1,484 621
Uber Elevate acquisition in exchange for Series C redeemable convertible preferred stock 0 77,619
Property and equipment purchased through capital leases 252 926
Conversion of Uber note payable to Series C preferred stock 0 77,399
Unpaid offering costs 0 470
Conversion of preferred stock 0 846,622
Net non-cash assets acquired in merger $ 0 $ 1,119