Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:    
Net income (loss) $ 1,756 $ (3,168)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 593 473
Loss on disposal of assets 0 4
Stock-based compensation expense 2,907 721
Non-cash lease expense 763 2,056
Non-cash debt forgiveness (2,000) 0
Change in fair value of warrant liabilities (8,106) 0
Change in operating assets and liabilities:    
Accounts receivable (1,180) (40)
Inventory (175) (310)
Prepaid expenses and other assets (2,355) (5)
Interest on promissory note due from related party 0 49
Security deposits 0 259
Accounts payable 207 (379)
Accrued expenses and other liabilities 223 814
Lease liabilities (854) (2,129)
Deferred revenue 162 345
Deferred rent 0 (283)
Net cash used in operating activities (8,059) (1,593)
Cash flows from investing activities:    
Purchases of property and equipment (3,960) (104)
Net cash used in investing activities (3,960) (104)
Cash flows from financing activities:    
Principal payments on capital leases 0 (18)
Proceeds from issuance of common stock 595 86
Proceeds received from exercise of preferred stock warrants 60 0
Tax payments related to shares withheld for vested restricted stock units (594) 0
Effect of Merger, net of transaction costs 86,792 0
Repayments of loans payable (3,586) (1,318)
Proceeds from loans payable 0 1,982
Net cash provided by financing activities 83,267 732
Net change in cash and cash equivalents and restricted cash 71,248 (965)
Effect of change in foreign currency exchange rates on cash and cash equivalents and restricted cash (138) 69
Cash and cash equivalents and restricted cash at beginning of year 8,709 9,605
Cash and cash equivalents and restricted cash at end of year 79,819 8,709
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 85 182
Issuance of Legacy Shapeways common stock upon conversion of convertible notes 5,913 0
Repurchase of Legacy Shapeways common stock $ (152) $ 0