v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (301,912) $ (5,185)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,015 1,152
Equity-based compensation 3,238 2,290
Non-employee equity-based compensation 739 738
Amortization of debt issuance costs 261 254
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 (6,243) (1,127)
Inventories, net (5,711) (6,215)
Prepaid expenses and other assets (4,635) (1,148)
Accounts payable (8,922) 49
Accrued liabilities (3,105) 2,522
Deferred revenue and gift card liability 676 745
Operating lease liability 257  
Other liabilities 145 0
Net cash used in operating activities (54,536) (5,976)
Investing activities    
Purchases of property, plant and equipment (9,400) (7,156)
Net cash used in investing activities (9,400) (7,156)
Financing activities    
Proceeds from issuance of long-term debt, net of cash paid for debt issuance costs of $— as of June 30, 2022 and $11 as of June 30, 2021 7,597 11,799
Repayment of long-term debt (23,617) (8,872)
Financing lease obligations 13  
Financing lease obligations   (237)
Distribution and redemption of Series A preferred equity (127,853) (3,062)
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 (used in) financing activities 138,687 (372)
Net increase (decrease) in cash and cash equivalents 74,751 (13,504)
Beginning cash and cash equivalents 18,334 35,632
Ending cash and cash equivalents 93,085 22,128
Non-cash operating activities    
Recognition of right-of-use operating lease assets 10,392  
Non-cash investing and financing activities    
Series A preferred exchange for PIPE shares 26,203 0
Series A preferred equity amortization 5,390 7,339
Issuance of note payable for repurchase of member units 0 365
Capital expenditures financed through credit facilities and capital leases 0 42
Accrued capital expenditures 23 20
Supplemental cash flow information    
Cash paid for income taxes 233 22
Cash paid for interest $ 531 $ 372

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