Annual report pursuant to Section 13 and 15(d)

Statement of Cash Flows (Statement)

v3.22.2
Statement of Cash Flows (Statement) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (755,453) $ (214,449) $ (94,077)
Adjustments to reconcile to net cash used in operating activities:      
Depreciation and amortization 15,581 3,117 1,837
Reduction in the carrying amount of ROU assets 25,424 14,109 4,299
Accretion of discount on short-term investments 0 (143) (4,267)
Loss on disposal of equipment 3,338 0 127
Non-cash severance 7,873 0
Stock based compensation 220,058 16,880 28,133
Change in deferred tax asset valuation allowance (4,504) 0 (7,778)
Change in fair value of derivative liabilities 20,116 0 0
Transaction costs associated with warrants 4,516 0 0
Other 3,836 0 0
Changes in operating assets and liabilities:      
Contract asset (32,538) 0 0
Accounts receivable 0 0 3,316
Prepaid expenses and other current assets (9,901) (11,692) (6,249)
Other assets (5,566) (14,038) (506)
Accounts payable 444 2,189 (852)
Accrued expenses and other liabilities (35,845) 13,674 1,367
Operating lease liability (20,667) (1,526) (3,475)
Contract liability 0 0 (16,601)
Net cash used in operating activities (563,288) (191,879) (94,726)
Cash flows from investing activities:      
Purchases of property and equipment (48,054) (6,689) (3,826)
Proceeds from sale of property and equipment 3,500 0 2
Net cash acquired (paid) in purchase of businesses 294,439 0 (23,144)
Purchase of short-term investments 0 (120,022) (745,566)
Maturities of short-term investments 0 470,000 400,000
Net cash provided by (used in) investing activities 249,885 343,289 (372,534)
Cash flows from financing activities:      
Proceeds from early exercised stock options 0 79 435
Payments to repurchase unvested early exercised stock options 0 (763) (17)
Proceeds from issuance of (payments to repurchase) series B preferred stock   (532) 633,966
Proceeds from issuance of common stock 7,999 2,662 318
Proceeds from issuance of Series U-2 preferred stock, net 397,862    
Proceeds from the reverse recapitalization, net of transaction costs 1,133,961 0 0
Net cash provided by financing activities 1,539,822 1,446 634,702
Net increase in cash, cash equivalents, and restricted cash 1,226,419 152,856 167,442
Cash, cash equivalents, and restricted cash at beginning of the period 399,828 246,972 79,530
Cash, cash equivalents, and restricted cash at end of the period $ 1,626,247 $ 399,828 $ 246,972