v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net loss $ (318,014) $ (9,238)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,055 2,000
Equity-based compensation 4,584 2,647
Non-employee equity-based compensation 849 1,115
Amortization of debt issuance costs 281 267
Bad debt recovery 0 (51)
Change in fair value of earn-out liability 209,651 0
Change in fair value of warrant liability 56,675 0
Change in fair value of derivative liability 2,335 0
Changes in operating assets and liabilities:    
Accounts receivable, net (15,306) (8,015)
Inventories, net (20,061) (7,721)
Prepaid expenses and other assets (3,110) (2,483)
Accounts payable (12,811) 4,444
Accrued liabilities 11,041 4,596
Deferred revenue and gift card liability 1,286 1,530
Operating lease liability 425  
Other non-current liabilities 149 255
Net cash used in operating activities (78,971) (10,654)
Investing activities    
Purchases of property, plant and equipment (19,950) (11,755)
Net cash used in investing activities (19,950) (11,755)
Financing activities    
Proceeds from issuance of long-term debt, net of cash paid for debt issuance costs of $53 as of September 30, 2022 and $11 as of September 30, 2021 21,540 17,222
Repayment of long-term debt (24,467) (9,161)
Financing lease obligations 31  
Financing lease obligations   (1,604)
Distribution and redemption of Series A preferred equity (127,853) (5,688)
Proceeds from Business Combination, including PIPE investment 337,957 0
Payment of Business Combination costs (31,638) 0
Redemption of Class A and Class B units (20,145) 0
Redemption of incentive units (3,627) 0
Net cash provided by financing activities 151,798 769
Net increase (decrease) in cash and cash equivalents 52,877 (21,640)
Beginning cash and cash equivalents 18,334 35,632
Ending cash and cash equivalents 71,211 13,992
Non-cash operating activities    
Recognition of right-of-use operating lease assets 14,915  
Non-cash investing and financing activities    
Series A preferred exchange for PIPE shares 26,203  
Series A preferred equity distribution and related discount amortization 5,390 14,681
Issuance of note payable for repurchase of member units 0 2,953
Accrued capital expenditures 135 478
Capital expenditures financed through credit facilities and capital leases 0 42
Supplemental cash flow information    
Cash paid for income taxes 255 150
Cash paid for interest $ 903 $ 528

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