General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:        
Net loss $ (251,038) $ (9,145) $ (19,535) $ (66,145)
(Loss)/gain from discontinued operations, net of tax (1,022) 28,449 28,185 (6,160)
Loss from continuing operations (250,016) (37,594) (47,720) (59,985)
Adjustments to reconcile net loss to net cash (used in) operating activities:        
Depreciation and amortization expense 9,804 6,448 9,803 6,897
Loss/(gain) on debt extinguishment 75 (284) (284) 3,267
Bad debt expense 4 0    
Loss on debt extinguishment       3,054
Stock-based compensation expense 29,265 1,692 1,982 3,345
Loss on issuance of Bridge Notes 99,669 0    
Issuance costs for derivative liabilities and debt carried at fair value 48,009 0    
Amortization of debt discount and issuance costs 1,311 955 1,137 1,811
Realized gain on promissory notes       (4,113)
(Gain)/loss on equity method investment (793) 878 953 1,241
Loss on disposal of property and equipment 24 0   6
Loss on derivatives 11,162 418 558 (541)
Satellite impairment loss 18,407 0 0 6,606
Changes in operating assets and liabilities:        
Accounts receivable (2,010) 481 1,425 (64)
Contract assets 1,487 (1,898) (3,796) (658)
Prepaid expenses, and other current assets (4,428) (137) 400 (1,982)
Other assets (423) (806) (1,024)  
Accounts payable and accrued liabilities (15) 275 2,483 3,356
Other current liabilities (2,195) 191 (340) (363)
Contract liabilities - current and long-term (1,960) 7,932 9,019 6,573
Liability for estimated contract losses 1,385 6,344 6,252  
Other long-term liabilities 2,496 2,595 3,852 1,699
Cash flows used in operating activities - continuing operations (38,742) (12,510) (15,300) (33,118)
Cash flows used in operating activities - discontinued operations 0 (14,894) (16,374) 6,808
Net cash used in operating activities (38,742) (27,404) (31,674) (26,310)
Cash Flows from Investing Activities:        
Purchase of property and equipment (532) (157) (281) (481)
Satellite procurement work in process (48,951) (18,092) (18,096) (33,208)
Purchase of domain name (7) 0    
Cash flows used in investing activities - continuing operations (49,490) (18,249) (18,377) (33,689)
Cash flows provided by investing activities - discontinued operations 0 8,410 8,607 (266)
Net cash used in investing activities (49,490) (9,839) (9,770) (33,955)
Cash Flows from Financing Activities:        
Proceeds from recapitalization transaction, net of payment of equity issuance costs 245,222 0    
Payments of transaction costs related to sponsor earn-out shares (291) 0    
Proceeds from Issuance of Debt 58,573 3,600    
Proceeds from options exercised 100 30 30 121
Proceeds from warrants exercised 163 0    
Capital lease payments 0 (21) (39) (311)
Debt payments (22,198) 0    
Payments for debt issuance costs (6,238) (108)    
Principal payments on debt       (14,000)
Payment for debt and equity issuance costs     (108) (3,611)
Withholding tax payment on vesting of restricted stock awards and options exercised     (39)  
Proceeds from borrowings     3,600 107,640
Cash flows provided by financing activities - continuing operations 275,331 3,501 3,444 89,839
Cash flows (used in) financing activities - discontinued operations 0 0   (133)
Net cash provided by financing activities 275,331 3,501 3,444 89,706
Net Change in Cash 187,099 (33,742) (38,000) 29,441
Cash, cash equivalents, and restricted cash – beginning of year 10,573 37,190 37,190 17,577
Cash reclassified to assets held for sale at beginning of period 0 11,383 11,383 1,555
Cash reclassified to assets held for sale at the end of period       (11,383)
Total cash, cash equivalents, and restricted cash 197,672 14,831 10,573 37,190
Supplemental Cash Flow Elements:        
Cash and cash equivalents 194,942 9,356 5,098 31,715
Restricted cash 2,730 5,475 5,475 5,475
Total cash, cash equivalents, and restricted cash 197,672 14,831 10,573 37,190
Supplemental disclosures of cash flows information:        
Cash paid for interest 398 954 1,113 1,678
Supplemental disclosures of non-cash financing and investing information:        
Property and equipment additions accrued but not paid 1,184 4,496 5,397 5,292
Equity costs accrued but not paid 388 0    
Capitalized Interest 735 1,086    
Issuance of common stock due to bridge financing and rights offering, net of issuance cost 106,353 0    
Issuance of Common Stock Warrants Due to Bridge Notes 18,800 0    
Net exercise of common stock warrants 210 0    
Conversion of Bridge Notes 77,097 0    
Net exercise of Bridge Note warrants 38,329 0    
Contingent liability for working capital adjustment to M&Y Space Co. Ltd 1,022 0    
Issuance of preferred stock in the sale of Spaceflight, Inc.     3,247  
Application of Secured Loan against a share purchase agreement purchase price 0 26,182 26,182  
Conversion of debt to equity       36,236
Increase of debt principal for paid-in-kind interest     2,791  
Equipment acquired under capital lease 0 22 $ 9 $ 111
Common Stock warrants        
Supplemental disclosures of non-cash financing and investing information:        
Net exercise of common stock warrants in connection with merger 1,324 0    
Preferred Stock [Member]        
Supplemental disclosures of non-cash financing and investing information:        
Issuance of preferred stock in the sale of Spaceflight, Inc. $ 0 $ 3,247