General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2020
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:          
Net loss   $ (71,372,000) $ (77,496,000) $ (138,982,000) $ (10,455,000)
Adjustments to reconcile net loss to net cash used in operating activities:          
Change in fair value of warrant liabilities   11,853,000 (34,000) (1,716,000) 0
Depreciation and amortization   846,000 671,000 3,053,000 2,934,000
Non-cash interest expense   1,215,000 889,000 7,908,000 1,286,000
Share-based compensation expense   17,335,000 168,000 678,000 1,194,000
Provision for losses on receivables and inventory   169,000 444,000 877,000 1,690,000
Loss on extinguishment of debt   23,141,000 70,667,000 96,024,000 0
Amortization of operating right-of-use assets   305,000      
Other non-cash, net       (567,000) (13,000)
Changes in operating assets and liabilities:          
Accounts receivable, net   (15,002,000) (226,000) (1,687,000) (1,980,000)
Contract assets   (928,000) (785,000) (901,000) (195,000)
Inventory   (1,550,000) 998,000 (5,393,000) (3,188,000)
Prepaid expenses and other current assets   (1,384,000) 216,000 596,000 (4,058,000)
Accounts payable   2,134,000 2,202,000 2,161,000 (438,000)
Contract liabilities   6,708,000 728,000 (229,000) 6,591,000
Reserve for anticipated losses on contracts   79,000 (52,000) (1,322,000) (4,796,000)
Accrued expenses and other current liabilities   4,032,000 1,047,000 4,634,000 (123,000)
Accrued interest   (4,803,000)      
Other, net   (2,078,000) 15,000 (21,000) 77,000
Net cash used in operating activities   (29,300,000) (548,000) (34,887,000) (11,474,000)
Cash flows from investing activities:          
Purchases of property, plant and equipment   (4,030,000) (2,422,000) (16,352,000) (7,325,000)
Net cash used in investing activities   (4,030,000) (2,422,000) (16,352,000) (7,325,000)
Cash flows from financing activities:          
Proceeds from long-term debt   35,942,000 47,481,000 58,241,000 2,537,000
Proceeds from warrants and derivatives   42,247,000 2,519,000 16,759,000 0
Proceeds from Tailwind Two Merger and PIPE Investment   58,424,000      
Proceeds from issuance of common stock   14,791,000   50,800,000  
Repayment of long-term debt   (27,171,000) (4,000) (10,000) (15,000)
Payment of issuance costs   (41,681,000) (5,667,000) (8,880,000) (2,009,000)
Contributions from non-controlling interest, net of issuance costs       0 14,475,000
Proceeds from exercise of stock options   135,000 19,000 242,000 113,000
Net cash provided by financing activities   82,687,000 44,348,000 66,352,000 15,101,000
Effect of exchange rate fluctuations on cash and cash equivalents   (28,000) (66,000) (124,000) 138,000
Net increase (decrease) in cash and cash equivalents   49,329,000 41,312,000 14,989,000 (3,560,000)
Cash and cash equivalents at beginning of period   27,325,000 12,336,000 12,336,000 15,896,000
Cash and cash equivalents at end of period $ 12,336,000 76,654,000 53,648,000 27,325,000 12,336,000
Supplemental disclosure of cash flow information:          
Share-based compensation included in inventory       0 36,000
Non-cash investing and financing activities:          
Purchases of property, plant and equipment not yet paid   211,000 111,000 845,000 125,000
Non-cash interest capitalized to property, plant and equipment   555,000 121,000 1,265,000 119,000
Depreciation and amortization capitalized to construction in process   77,000   479,000 0
Issuance costs not yet paid   5,983,000 2,361,000 4,141,000 0
Non-cash exchange and extinguishment of long-term debt   40,432,000 36,859,000 125,857,000 0
Issuance of common stock in exchange for non-controlling interest   0 23,743,000 23,743,000 0
Conversion of redeemable convertible preferred stock into common stock   8,000,000      
Net settlement of liability-classified warrants into common stock   7,616,000      
Net settlement of equity-classified warrants into common stock   (2,000)      
Non-cash issuance of common stock in connection with PIPE Investment   10,060,000      
Non-cash issuance of common stock in connection with financing transactions     26,304,000    
Reclassification of liability-classified warrants and derivatives to equity-classified   11,007,000      
Issuance of contingently issuable common stock   44,887,000      
Parent Company [Member]          
Adjustments to reconcile net loss to net cash used in operating activities:          
Loss on extinguishment of debt       96,024,000 0
Tailwind Two Acquisition Corp [Member]          
Cash flows from operating activities:          
Net loss (6,093)     (2,450,595)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Interest earned on investments held in Trust Account 0     (89,823)  
Change in fair value of warrant liabilities 0     (2,509,000)  
Transaction cost allocable to warrants 0     649,349  
Changes in operating assets and liabilities:          
Accounts payable and accrued expenses 6,093     2,133,921  
Prepaid expenses and other current assets 0     (467,371)  
Net cash used in operating activities 0     (2,733,519)  
Cash flows from investing activities:          
Investment of cash in Trust Account 0     (345,000,000)  
Net cash used in investing activities 0     (345,000,000)  
Cash flows from financing activities:          
Proceeds from warrants and derivatives       11,700,000  
Payment of issuance costs 0     (429,431)  
Proceeds from sale of Units, net of underwriting discounts paid 0     338,100,000  
Advances from related party 0     5,360  
Repayment of promissory note-related party 0     (89,890)  
Net cash provided by financing activities 0     349,286,039  
Net Change in Cash 0     1,552,520  
Cash and cash equivalents at beginning of period 0 $ 1,552,520 $ 0 0  
Cash and cash equivalents at end of period 0     1,552,520 $ 0
Non-cash investing and financing activities:          
Offering costs included in accrued offering costs 120,540     12,000  
Offering costs paid by Sponsor in exchange for issuance of Founder Shares 25,000        
Offering costs paid through promissory note 52,250     37,640  
Deferred underwriting fee payable $ 0     $ 12,075,000