Tailwind Two Acquisition Corp. General form of registration statement for all companies including face-amount certificate companies

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

Organization and Summary of Significant Accounting Policies (Tables)

Organization and Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Summary of Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following as of the dates presented:


(in thousands)	March 31, 2022		December 31, 2021
Deferred debt commitment costs	$	—	$	46,632
Deferred equity issuance costs		—		6,085
Deferred cost of sales		1,585		2,950
Other current assets		4,673		1,972

Prepaid expenses and other current assets	$	6,258	$	57,639

Prepaid expenses and other current assets consisted of the following as of the periods presented:


	December 31,
(in thousands)	2021		2020
Deferred debt commitment costs	$	46,632	$	—
Deferred equity issuance costs		6,085		—
Deferred cost of sales		2,950		3,573
Other current assets		1,972		1,643

Prepaid expenses and other current assets	$	57,639	$	5,216

Summary of Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following as of the periods presented:


	December 31,
(in thousands)	2021		2020
Current warrant and derivative liabilities (1)	$	68,518	$	—
Payroll-related accruals		5,771		1,834
Other current liabilities		1,847		797

Accrued expenses and other current liabilities	$	76,136	$	2,631

(1)	Refer to Note 6 “Warrants and Derivatives” for further discussion.

Summary of individual customers

The table below presents individual customers who accounted for more than 10% of the Company’s revenue for the periods presented:


	Three Months Ended March 31,
	2022			2021
Customer A		77	%		37	%
Customer B		1	%		16	%

Total		78	%		53	%

The table below presents individual customers who accounted for more than 10% of the Company’s accounts receivable, net of allowance for credit losses, as of the dates presented:


	March 31, 2022			December 31, 2021
Customer A		82	%		14	%
Customer B		6	%		32	%
Customer C		3	%		13	%
Customer D		2	%		19	%
Customer E		2	%		10	%

Total		95	%		88	%

The table below presents individual customers who accounted for more than 10% of the Company’s revenue for the periods presented:


	Year Ended December 31,
	2021			2020
Customer A		50	%		22	%
Customer B		6	%		13	%

Total		56	%		35	%

The table below presents individual customers who accounted for more than 10% of the Company’s accounts receivable, net of allowance for credit losses, as of the periods presented:


	December 31,
	2021			2020
Customer A		32	%		9	%
Customer B		19	%		37	%
Customer C		14	%		15	%
Customer D		13	%		3	%
Customer E		10	%		9	%

Total		88	%		73	%

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following as of the dates presented:


(in thousands)	March 31, 2022		December 31, 2021
Current warrant and derivative liabilities (1)	$	—	$	68,518
Payroll-related accruals		8,547		5,771
Current operating lease liabilities		834		—
Accrued interest		298		—
Other current liabilities		3,403		1,847

Accrued expenses and other current liabilities	$	13,082	$	76,136

(1)	Refer to Note 6 “Warrants and Derivatives” for further discussion.

Accounting Standards Update 2016-02 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of Net Impact of Adoption in Condensed Consolidated Balance Sheet

The net impact of the adoption to the condensed consolidated balance sheet was as follows:


(in thousands)	December 31, 2021		Lease Standard Adoption Adjustment		January 1, 2022
Assets
Other assets	$	639	$	6,550	$	7,189
Liabilities
Accrued expenses and other current liabilities		76,136		166		76,302
Other liabilities		2,028		6,384		8,412