Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 48,554 $ 93,561
Accounts receivable, net of allowance for credit losses of $191 and $764 as of June 30, 2023 and December 31, 2022, respectively 5,432 4,754
Contract assets, net 4,628 6,763
Inventory 28,153 24,133
Prepaid expenses and other current assets 12,376 9,710
Total current assets 99,143 138,921
Property, plant, and equipment, net 41,571 24,743
Other assets 18,249 18,990
Total assets 158,963 182,654
Liabilities and shareholders' deficit:    
Current portion of long-term debt 11,331 7,739
Accounts payable 24,299 21,188
Contract liabilities 18,047 27,228
Reserve for anticipated losses on contracts 858 2,860
Accrued expenses and other current liabilities 15,690 11,721
Total current liabilities 70,225 70,736
Long-term debt 157,521 142,620
Warrant and derivative liabilities 37,919 39,950
Other liabilities 19,017 20,769
Total liabilities 284,682 274,075
Commitments and contingencies (Note 12)
Shareholders' deficit:    
Preferred stock - authorized 50,000,000 shares of $0.0001 par value as of June 30, 2023 and December 31, 2022; zero issued and outstanding
Common stock - authorized 600,000,000 and 300,000,000 shares of $0.0001 par value as of June 30, 2023 and December 31, 2022, respectively; issued and outstanding shares of 165,189,534 and 142,503,771 as of June 30, 2023 and December 31, 2022, respectively 17 14
Additional paid-in capital 317,871 269,574
Accumulated deficit (443,743) (361,168)
Accumulated other comprehensive income 136 159
Total shareholders' deficit (125,719) (91,421)
Total liabilities and shareholders' deficit $ 158,963 $ 182,654