Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 71,663 $ 93,561
Accounts receivable, net of allowance for credit losses of $182 and $764 as of December 31, 2023 and 2022, respectively 14,735 4,754
Contract assets, net 21,390 6,763
Inventory 33,348 24,133
Prepaid expenses and other current assets 14,843 9,710
Total current assets 155,979 138,921
Property, plant, and equipment, net 46,449 24,743
Other assets 17,885 18,990
Total assets 220,313 182,654
Liabilities and shareholders' deficit:    
Current portion of long-term debt 11,740 7,739
Accounts payable 22,850 21,188
Contract liabilities 103,924 27,228
Reserve for anticipated losses on contracts 977 2,860
Accrued expenses and other current liabilities 14,408 11,721
Total current liabilities 153,899 70,736
Long-term debt 171,033 142,620
Warrant and derivative liabilities 34,462 39,950
Other liabilities 18,555 20,769
Total liabilities 377,949 274,075
Commitments and contingencies (Note 12)
Shareholders' deficit:    
Preferred stock - authorized 50,000,000 shares of $0.0001 par value as of December 31, 2023 and 2022; zero issued and outstanding
Common stock - authorized 600,000,000 and 300,000,000 shares of $0.0001 par value as of December 31, 2023 and 2022, respectively; issued and outstanding shares of 199,413,917 and 142,503,771 as of December 31, 2023 and 2022, respectively 20 14
Additional paid-in capital 355,144 269,574
Accumulated deficit (513,011) (361,168)
Accumulated other comprehensive income 211 159
Total shareholders' deficit (157,636) (91,421)
Total liabilities and shareholders' deficit $ 220,313 $ 182,654