Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (1,723) $ (755) $ (214)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 22 16 3
Reduction in the carrying amount of right-of-use assets 28 25 14
Stock-based compensation 156 220 17
Goodwill impairment 1,114 0 0
Change in fair value of derivative liabilities (114) 20 0
Non-cash severance 0 8 0
Change in deferred tax asset valuation allowance 0 (5) 0
Other operating activities (3) 12 0
Changes in operating assets and liabilities:      
Other current and non-current assets 47 (48) (26)
Operating lease liabilities (25) (21) (2)
Other current and non-current liabilities (10) (36) 16
Net cash used in operating activities (508) (564) (192)
Cash flows from investing activities      
Purchases of property and equipment (15) (48) (7)
Net cash acquired in acquisitions 0 294 0
Purchases of short-term investments (1,610) 0 (120)
Maturities of short-term investments 773 0 470
Other investing activities 0 4 0
Net cash (used in) provided by investing activities (852) 250 343
Cash flows from financing activities      
Proceeds from issuance of common stock 13 8 3
Proceeds from issuance of Series U-2 preferred stock, net 0 398 0
Proceeds from the Merger, net of transaction costs 0 1,134 0
Other financing activities (2) 0 (1)
Net cash provided by financing activities 11 1,540 2
Net (decrease) increase in cash, cash equivalents, and restricted cash (1,349) 1,226 153
Cash, cash equivalents, and restricted cash at beginning of the period 1,626 400 247
Cash, cash equivalents, and restricted cash at end of the period $ 277 $ 1,626 $ 400