v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net Income (Loss) $ (571,269) $ (445,939) $ (237,986)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 26,624 6,566 4,162
Amortization of operating lease right-of-use assets 6,987 5,237 3,705
Amortization of premium (discount) on marketable securities (5,929) 1,288 1,792
Loss on marketable securities 7,594 0 0
Losses and impairments on non-marketable securities and certain other assets 2,141 6,016 0
Change in fair value of warrants (1,936) (9,222) 26,126
Vendor stock-in-lieu of cash program 50,829 41,459 10,817
Amortization of debt discount and issuance costs 3,236 3,236 0
Inventory write-offs and write-downs 19,547 12,154 2,918
Write-off or loss on sale or disposal of property and equipment 1,522 0 752
Share-based compensation 207,132 162,405 77,684
Impairment of goodwill and intangible assets 15,489 0 0
Expense related to Volvo Warrants 0 0 959
Product warranty 2,382 2,481 1,538
Deferred taxes (64) 232 (1,262)
Other 0 0 305
Changes in operating assets and liabilities:      
Accounts receivable (2,951) 5,144 (6,233)
Inventories (22,951) (10,477) (10,751)
Prepaid expenses and other current assets 11,641 (6,557) (24,340)
Other non-current assets 177 (3,289) (6)
Accounts payable 3,657 5,301 3,838
Accrued and other current liabilities 9,158 17,768 3,578
Other non-current liabilities (10,320) (2,035) (6,017)
Net cash used in operating activities (247,304) (208,232) (148,421)
Cash flows from investing activities:      
Cash received from acquisition of Optogration, Inc. 0 0 358
Purchases of marketable securities (including $17,846 and $16,423 with related parties in 2022 and 2021, respectively, see Note 16) (301,493) (404,598) (716,933)
Proceeds from maturities of marketable securities 520,286 367,367 366,857
Proceeds from sales/redemptions of marketable securities (including $24,753 and $4,396 with related parties in 2022 and 2021, respectively, see Note 16) 52,356 88,041 161,910
Purchases of property and equipment (21,915) (15,614) (6,433)
Disposal of property and equipment 0 0 53
Advances for capital projects and equipment 0 (2,450) 0
Net cash provided by (used in) investing activities 236,626 27,986 (194,188)
Cash flows from financing activities:      
Proceeds from a financing transaction 6,442 0 0
Proceeds from issuance of convertible senior notes, net of debt discounts of $15,625 0 0 609,375
Purchases of capped call options 0 0 (73,438)
Repayment of debt 0 0 (112)
Principal payments on finance leases (capital leases prior to adoption of ASC 842) 0 0  
Principal payments on finance leases (capital leases prior to adoption of ASC 842)     (289)
Proceeds from exercise of warrants 0 0 153,927
Proceeds from exercise of stock options 3,061 3,986 5,859
Proceeds from sale of Class A common stock under ESPP 2,641 1,271 0
Payments of employee taxes related to stock-based awards (2,137) (3,730) 0
Repurchases of common stock and redemption of warrants 0 (80,878) (231,600)
Other financing activities 0 0 (130)
Net cash provided by (used in) financing activities 80,197 (79,351) 463,592
Net increase (decrease) in cash, cash equivalents and restricted cash 69,519 (259,597) 120,983
Beginning cash, cash equivalents and restricted cash 71,105 330,702 209,719
Ending cash, cash equivalents and restricted cash 140,624 71,105 330,702
Supplemental disclosures of cash flow information:      
Cash paid for interest 7,813 7,769 215
Supplemental disclosures of noncash investing and financing activities:      
Issuance of Class A common stock upon exercise of warrants 0 19,003 338,293
Investments 10,000 0 0
Issuance of Class A common stock for investment in Robotic Research OpCo, LLC 0 0 10,002
Issuance of Class A common stock to acquire Optogration, Inc. 0 0 6,527
Operating lease right-of-use assets obtained in exchange for lease obligations 28,447 16,749 2,876
Purchases of property and equipment recorded in accounts payable and accrued liabilities 826 3,870 849
Amounts payable for shares repurchased 0 0 4,273
Vendor stock-in-lieu of cash program—advances for capital projects and equipment 8,551 28,402 0
Equity Financing Program      
Cash flows from financing activities:      
Proceeds from issuance of common stock 50,190 0 0
TPK Universal Solutions Limited      
Cash flows from financing activities:      
Proceeds from issuance of common stock 20,000 0 0
Freedom Photonics      
Cash flows from investing activities:      
Acquisition of Freedom Photonics LLC (net of cash acquired) 0 (2,759) 0
Solfice      
Cash flows from investing activities:      
Acquisition of certain assets 0 (2,001) 0
Seagate      
Cash flows from investing activities:      
Acquisition of certain assets (12,608) 0 0
ECARX Holdings Inc.,      
Supplemental disclosures of noncash investing and financing activities:      
Investments 0 12,588 0
Accounting Standards Update 2016-02      
Supplemental disclosures of noncash investing and financing activities:      
Operating lease right-of-use assets obtained in exchange for lease obligations $ 0 $ 0 $ 10,849

Source