Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (196) $ (77)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5 6
Reduction in the carrying amount of right-of-use assets 7 7
Stock-based compensation 39 29
Change in fair value of derivative liabilities 2 (66)
Other operating activities (7) 0
Changes in operating assets and liabilities:    
Other current and non-current assets 2 16
Operating lease liabilities (6) (6)
Other current and non-current liabilities 18 (45)
Net cash used in operating activities (136) (136)
Cash flows from investing activities    
Purchases of property and equipment (2) (5)
Purchases of short-term investments (247) (966)
Maturities of short-term investments 303 0
Net cash provided by (used in) investing activities 54 (971)
Cash flows from financing activities    
Proceeds from issuance of common stock 1 2
Other financing activities (1) 0
Net cash provided by financing activities 0 2
Net decrease in cash, cash equivalents, and restricted cash (82) (1,105)
Cash, cash equivalents, and restricted cash at beginning of the period 277 1,626
Cash, cash equivalents, and restricted cash at end of the period $ 195 $ 521