Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (20,221) $ 1,756
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 1,514 593
Loss on disposal of property and equipment 49 0
Stock-based compensation expense 2,155 2,907
Non-cash lease expense 1,000 763
Non-cash debt forgiveness 0 (2,000)
Deferred income taxes 27 0
Change in fair value of earnout liability (1,824) 0
Change in fair value of warrant liabilities (1,584) (8,106)
Interest receivable on short-term investments (105) 0
Change in operating assets and liabilities:    
Accounts receivable 873 (1,180)
Inventory (192) (175)
Prepaid expenses and other assets (1,686) (2,355)
Accounts payable 1 207
Accrued expenses and other liabilities 996 223
Operating lease liabilities (1,049) (854)
Deferred revenue (522) 162
Security deposits (7) 0
Net cash used in operating activities (20,575) (8,059)
Cash flows from investing activities:    
Purchases of property and equipment (10,118) (3,960)
Purchase of short-term investments (9,780) 0
Net cash paid for acquisitions, net of cash acquired (8,861) 0
Net cash used in investing activities (28,759) (3,960)
Cash flows from financing activities:    
Proceeds from issuance of common stock 339 595
Proceeds received from exercise of preferred stock warrants 0 60
Tax payments related to shares withheld for vested restricted stock units 0 (594)
Effect of Merger, net of transaction costs 0 86,792
Repayments of loans payable 0 (3,586)
Net cash provided by financing activities 339 83,267
Net change in cash and cash equivalents and restricted cash (48,995) 71,248
Effect of change in foreign currency exchange rates on cash and cash equivalents and restricted cash (55) (138)
Cash and cash equivalents and restricted cash at beginning of year 79,819 8,709
Cash and cash equivalents and restricted cash at end of year 30,769 79,819
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 0 85
Purchase of property and equipment included in accounts payable 225 0
Issuance of Legacy Shapeways common stock upon conversion of convertible notes 0 5,913
Repurchase of Legacy Shapeways common stock $ 0 $ (152)