Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (25,745) $ (20,610)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:    
Depreciation and amortization 5,700 11,106
Change in fair value of warrant liabilities 746 7,151
Provision for losses on accounts receivable 0 9
Provision for losses on inventory obsolescence 279 106
Loss on disposal of assets 3,056 2,436
Non-cash lease expense 282 0
Amortization of debt discount, premium and issuance costs 1,253 1,458
Paid-in-kind interest 5,202 0
Loss on extinguishment of debt 1,651 0
Share-based compensation expense 2,028 1,648
Changes in assets and liabilities:    
Accounts receivable 3,141 (17,373)
Inventory (1,239) (218)
Prepaids and other current assets (1,994) (7,973)
Accounts payable (1,252) 10,424
Accrued liabilities (1,289) (3,159)
Accrued interest 736 3,979
Net cash used in operating activities (7,445) (11,016)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (11,092) (14,218)
Proceeds from sale of property and equipment and insurance proceeds from damaged property and equipment 17,250 6,393
Net cash provided by (used in) investing activities 6,158 (7,825)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 190 21,174
Repayments of revolving credit facility (14,360) (9,000)
Proceeds from issuance of long-term debt 0 3,004
Proceeds from issuance of long-term debt and warrants 21,500 0
Repayments of long-term debt (17,772) (1,250)
Payment of fees related to debt extinguishment (96) 0
Proceeds from issuance of notes payable 3,826 9,139
Repayments of notes payable (1,836) (1,014)
Repayments of amounts under equipment financing (862) (864)
Principal payments under capital lease obligations 0 (34)
Principal payments on finance lease liabilities (233) 0
Proceeds from issuance of common stock and warrants in registered direct offering, net 22,730 0
Proceeds from issuance of common stock via the ATM Agreement, net 21,282 10,669
Deferred financing costs (1,059) 0
Net cash provided by financing activities 33,310 31,824
Net increase (decrease) in cash and cash equivalents and restricted cash 32,023 12,983
Cash and cash equivalents and restricted cash, beginning of period 9,120 5,262
Cash and cash equivalents and restricted cash, end of period 41,143 18,245
Supplemental cash flow disclosure:    
Interest paid 571 578
Non-cash investing and financing activities:    
Issuance of warrants to placement agent in registered direct offering 470 0
Deemed and imputed dividends on preferred stock 0 464
Changes in accrued and unpaid capital expenditures 1,691 2,744
Assets under capital lease obligations 0 684
Registered Direct Offering [Member]    
Non-cash investing and financing activities:    
Issuance of warrants to purchase common stock 7,044 0
Term C Loan Warrants [Member]    
Non-cash investing and financing activities:    
Issuance of warrants to purchase common stock 6,491 0
Series B Redeemable Convertible Preferred Stock [Member]    
Non-cash investing and financing activities:    
Conversion of preferred stock to Class A common stock 0 798
Dividends accrued on preferred stock 0 711
Series A Redeemable Convertible Preferred Stock [Member]    
Non-cash investing and financing activities:    
Dividends accrued on preferred stock $ 1,091 $ 1,813