Summary of Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 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 sheets that sum to the total of the same such amount shown in the condensed consolidated statements of cash flows is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
September 30, 2021 |
|
Cash and cash equivalents |
$ |
46,941 |
|
|
$ |
90,108 |
|
|
Restricted cash |
136 |
|
|
143 |
|
|
|
$ |
47,077 |
|
|
$ |
90,251 |
|
|
|
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 net loss attributable to common stockholders and number of shares used in computing basic and diluted net (loss) income and net loss attributable to common stockholders per share is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 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 |
$ |
(4,550) |
|
|
$ |
2,552 |
|
|
$ |
(13,261) |
|
|
$ |
4,125 |
|
Net loss attributable to common stockholders |
$ |
(4,550) |
|
|
$ |
(15,580) |
|
|
$ |
(13,261) |
|
|
$ |
(14,007) |
|
Denominator for basic and diluted net loss per share: |
|
|
|
|
|
|
|
Weighted average common shares - basic and diluted |
53,185,561 |
|
|
37,932,345 |
|
|
52,985,344 |
|
|
37,351,244 |
|
Basic and diluted net (loss) income per share |
$ |
(0.09) |
|
|
$ |
0.07 |
|
|
$ |
(0.25) |
|
|
$ |
0.11 |
|
Basic and diluted net loss per share attributable to common stockholders |
$ |
(0.09) |
|
|
$ |
(0.41) |
|
|
$ |
(0.25) |
|
|
$ |
(0.38) |
|
|
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 September 30, |
|
Nine Months Ended September 30, |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Common stock warrants |
18,410,000 |
|
|
18,410,000 |
|
|
18,410,000 |
|
|
18,410,000 |
|
Earnout Shares |
3,510,405 |
|
|
3,510,405 |
|
|
3,510,405 |
|
|
3,510,405 |
|
Unvested RSUs |
5,247,056 |
|
|
— |
|
|
5,247,056 |
|
|
— |
|
|