Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 38,676 $ 93,561
Accounts receivable, net of allowance for credit losses of $258 and $764 as of September 30, 2023 and December 31, 2022, respectively 15,298 4,754
Contract assets, net 4,748 6,763
Inventory 34,045 24,133
Prepaid expenses and other current assets 11,772 9,710
Total current assets 104,539 138,921
Property, plant, and equipment, net 47,090 24,743
Other assets 18,608 18,990
Total assets 170,237 182,654
Liabilities and shareholders' deficit:    
Current portion of long-term debt 11,632 7,739
Accounts payable 31,379 21,188
Contract liabilities 13,439 27,228
Reserve for anticipated losses on contracts 1,013 2,860
Accrued expenses and other current liabilities 15,770 11,721
Total current liabilities 73,233 70,736
Long-term debt 164,257 142,620
Warrant and derivative liabilities 32,416 39,950
Other liabilities 19,108 20,769
Total liabilities 289,014 274,075
Commitments and contingencies (Note 12)
Shareholders' deficit:    
Preferred stock - authorized 50,000,000 shares of $0.0001 par value as of September 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 September 30, 2023 and December 31, 2022, respectively; issued and outstanding shares of 187,817,268 and 142,503,771 as of September 30, 2023 and December 31, 2022, respectively 19 14
Additional paid-in capital 351,203 269,574
Accumulated deficit (470,172) (361,168)
Accumulated other comprehensive income 173 159
Total shareholders' deficit (118,777) (91,421)
Total liabilities and shareholders' deficit $ 170,237 $ 182,654