Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ 10,351 $ (76,200)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of and mark-to-market adjustments of derivative liabilities (108,646) 31,504
Depreciation and amortization 9,512 6,087
Non-cash vehicle expenses 2,557 1,383
Stock-based compensation expense 48,704 1,485
Amortization of debt issuance costs and discounts 352 808
Bad debt expense 20 502
Other 278 (331)
Changes in assets and liabilities:    
Accounts receivable (1,509) 243
Inventory 3,323 3,015
Prepaid expenses and other current assets (13,814) (2,397)
Other assets 63 15
Accounts payable 3,329 (2,431)
Deferred revenue (474) 1,378
Accrued expenses and other current liabilities 3,952 (1,459)
Other liabilities (563) 61
Net cash used in operating activities (42,565) (36,337)
Cash flows from investing activities    
Purchases of property and equipment (251) (66)
Purchases of vehicles (63,364) (12,117)
Net cash used in investing activities (63,615) (12,183)
Cash flows from financing activities    
Proceeds from borrowings, net of issuance costs 23,716 0
Proceeds from issuance of redeemable convertible senior preferred stock and derivatives, net of issuance costs 0 187,781
Payment for taxes related to net share settlement (1,903) 0
Proceeds from the issuance of common stock 169 435
Debt repayments (4,353) 0
Net cash provided by financing activities 17,629 188,216
Effect of exchange rate changes on cash (1,003) 5,360
Net (decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (89,554) 145,056
Beginning of period 159,901 53,767
End of period 70,347 198,823
Cash and cash equivalents 35,026 182,134
Restricted cash and cash equivalents 35,321 16,689
Total cash and cash equivalents and restricted cash and cash equivalents $ 70,347 $ 198,823