Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (19,988) $ (168,556)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation and amortization expense 7,391 2,764
Bad debt expense 6 0
Stock-based compensation expense 10,240 508
Loss on issuance of Bridge Notes 0 96,476
Issuance costs for derivative liabilities and debt carried at fair value 0 47,623
Amortization of debt discount and issuance costs 502 348
Gain on equity method investment (257) (196)
Loss on disposal of property and equipment 0 24
Gain (loss) on derivatives (8,140) 14,008
Changes in operating assets and liabilities:    
Accounts receivable (2,868) (1,651)
Contract assets (1,187) (66)
Prepaid expenses and other current assets 1,220 (158)
Other assets (5) 96
Accounts payable and accrued liabilities 1,533 (3,753)
Other current liabilities (200) (11)
Contract liabilities - current and long-term 694 1,258
Liability for estimated contract losses (2,428) (171)
Other liabilities 811 874
Net cash used in operating activities (12,676) (10,583)
Cash flows from investing activities:    
Purchase of property and equipment (1,926) (17)
Satellite procurement work in process (11,499) (7,502)
Net cash used in investing activities (13,425) (7,519)
Cash flows from financing activities:    
Proceeds from issuance of debt 0 58,082
Proceeds from options exercised 17 1
Proceeds from warrants exercised 0 120
Payments for deferred offering costs 0 (321)
Payments for debt issuance costs 0 (91)
Withholding tax payment on vesting of restricted stock awards (3,616) 0
Net cash (used in) provided by financing activities (3,599) 57,791
Net (decrease) increase in cash, cash equivalents, and restricted cash (29,700) 39,689
Cash, cash equivalents, and restricted cash – beginning of year 168,104 10,573
Cash, cash equivalents, and restricted cash – end of period 138,404 50,262
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 135,886 44,787
Restricted cash 2,518 5,475
Total cash, cash equivalents, and restricted cash 138,404 50,262
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 129
Supplemental disclosures of non-cash financing and investing information:    
Debt issuance costs expensed for debt carried at fair value accrued but not paid 0 3,588
Capitalized interest 0 135
Capitalized stock-based compensation 622 0
Issuance of common stock due to Bridge Notes, net of issuance 0 103,724
Issuance of common stock warrants due to Bridge Notes 0 18,373
Consent fees payable in common stock or cash recorded as a derivative 0 2,715
Internet Domain Names    
Supplemental disclosures of non-cash financing and investing information:    
Property and equipment additions accrued but not paid 0 7
Property, Plant and Equipment    
Supplemental disclosures of non-cash financing and investing information:    
Property and equipment additions accrued but not paid $ 6,721 $ 8,956