Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Summary of reconciliation of cash and cash equivalents
The reconciliation of cash, cash equivalents and restricted cash reported within the applicable condensed consolidated balance sheet that sum to the total of the same such amount shown in the condensed consolidated statements of cash flows is as follows:
June 30,
2022		 June 30,
2021
Cash and cash equivalents $ 50,402  $ 6,250 
Restricted cash 138  145 
$ 50,540  $ 6,395 
Summary of useful lives of property plant and equipment Depreciation is recognized using the straight-line method in amounts considered to be sufficient to allocate the cost of the assets to operations over the estimated useful lives or lease terms, as follows:
Asset Category Depreciable Life
Machinery and equipment
5 to 10 years
Computers and IT equipment
3 to 10 years
Furniture and fixtures
7 to 10 years
Vehicles 10 years
Leasehold improvements **
** Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.
Schedule of earnings per share A reconciliation of net (loss) income and number of shares used in computed basic and diluted net (loss) income per share was as follows:
  Three Months Ended June 30, Six Months Ended June 30,
  2022 2021 2022 2021
Basic and Diluted net (loss) income per share computation:
Numerator for basic and diluted net loss per share:
Net (loss) income $ (4,674) $ (135) $ (8,711) $ 1,573 
Denominator for basic and diluted net loss per share:
Weighted average common shares - basic and diluted 53,069,269  36,079,478  52,925,199  36,043,718 
Basic and diluted net (loss) income per share $ (0.09) $ —  $ (0.16) $ 0.04 
Summary of common stock equivalents outstanding were excluded from computation of diluted net loss per share
The following table presents the outstanding shares of Common Stock equivalents that were excluded from the computation of the diluted net (loss) income per share attributable to Common Stock for the periods in which a net (loss) income is presented because their effect would have been anti-dilutive:
  Three Months Ended June 30, Six Months Ended June 30,
  2022 2021 2022 2021
Common stock warrants 18,410,000  —  18,410,000  — 
Earnout Shares 3,510,405  —  3,510,405  — 
Unvested RSUs 4,137,195  —  4,137,195  —