Luminar Technologies, Inc(NASDAQ:LAZR) 
Luminar Technologies, Inc. operates as a vehicle sensor and software company for passenger vehicles and trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception an...
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | |||||||||||||||||||||
products | 7,407,000 | 13,689,000 | 11,967,000 | 12,972,000 | 18,887,000 | 12,681,000 | 15,302,000 | 17,001,000 | 10,753,000 | 9,923,000 | 7,367,000 | 8,357,000 | 6,796,000 | 1,798,000 | 1,541,000 | ||||||
services | 5,338,000 | 5,060,000 | 3,667,000 | 5,914,000 | 3,597,000 | 2,812,000 | 5,666,000 | 5,113,000 | 6,206,000 | 6,274,000 | 7,142,000 | 2,769,000 | 5,989,000 | 8,134,000 | 5,314,000 | ||||||
total revenue | 12,745,000 | 18,749,000 | 15,634,000 | 18,886,000 | 22,484,000 | 15,493,000 | 20,968,000 | 22,114,000 | 16,959,000 | 16,197,000 | 14,509,000 | 11,126,000 | 12,785,000 | 9,932,000 | 6,855,000 | ||||||
yoy | -43.32% | 21.02% | -25.44% | -14.60% | 32.58% | -4.35% | 44.52% | 98.76% | 32.65% | 63.08% | 111.66% | ||||||||||
qoq | -32.02% | 19.92% | -17.22% | -16.00% | 45.12% | -26.11% | -5.18% | 30.40% | 4.70% | 11.63% | 30.41% | -12.98% | 28.73% | 44.89% | |||||||
cost of sales: | |||||||||||||||||||||
total cost of sales | 62,355,000 | 26,830,000 | 28,061,000 | 26,986,000 | 10,006,000 | 29,525,000 | 31,423,000 | 43,685,000 | 35,119,000 | 34,532,000 | 29,133,000 | 27,726,000 | 28,511,000 | 28,092,000 | 16,654,000 | ||||||
gross loss | -49,610,000 | -8,081,000 | -12,427,000 | -8,100,000 | 12,478,000 | -14,032,000 | -10,455,000 | -21,571,000 | -18,160,000 | -18,335,000 | -14,624,000 | -16,600,000 | -15,726,000 | -18,160,000 | -9,799,000 | -7,494,000 | -2,784,000 | -1,544,000 | |||
yoy | -497.58% | -42.41% | 18.86% | -62.45% | -168.71% | -23.47% | -28.51% | 29.95% | 15.48% | 0.96% | 49.24% | 121.51% | 464.87% | 1076.17% | |||||||
qoq | 513.91% | -34.97% | 53.42% | -164.91% | -188.93% | 34.21% | -51.53% | 18.78% | -0.95% | 25.38% | -11.90% | 5.56% | -13.40% | 85.33% | 30.76% | 169.18% | 80.31% | ||||
gross margin % | -389.25% | -43.10% | -79.49% | -42.89% | 55.50% | -90.57% | -49.86% | -97.54% | -107.08% | -113.20% | -100.79% | -149.20% | -123.00% | -182.84% | -142.95% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% | NaN% |
operating expenses: | |||||||||||||||||||||
research and development | 24,708,000 | 35,268,000 | 39,328,000 | 38,288,000 | 47,478,000 | 50,591,000 | 67,750,000 | 62,745,000 | 62,937,000 | 67,483,000 | 69,052,000 | 64,925,000 | 46,308,000 | 40,941,000 | 33,109,000 | 29,048,000 | 25,890,000 | 19,913,000 | 14,010,000 | ||
sales and marketing | 2,154,000 | 4,264,000 | 5,297,000 | 4,904,000 | 7,736,000 | 11,097,000 | 14,515,000 | 11,317,000 | 12,397,000 | 15,654,000 | 13,729,000 | 11,974,000 | 10,111,000 | 7,189,000 | 9,398,000 | 5,848,000 | 5,868,000 | 3,507,000 | 2,635,000 | ||
general and administrative | 9,696,000 | 14,109,000 | -18,753,000 | 20,916,000 | 22,726,000 | 30,206,000 | 33,049,000 | 37,470,000 | 35,435,000 | 42,420,000 | 44,490,000 | 47,178,000 | 42,809,000 | 38,150,000 | 30,025,000 | 28,572,000 | 35,603,000 | 19,237,000 | 10,273,000 | ||
impairment of goodwill and intangible assets | 3,719,000 | 6,647,000 | |||||||||||||||||||
impairment of long-lived assets | 7,513,000 | ||||||||||||||||||||
restructuring costs | 738,000 | 1,708,000 | 1,180,000 | 64,000 | 226,000 | 3,284,000 | |||||||||||||||
total operating expenses | 60,778,000 | 66,581,000 | 27,052,000 | 64,172,000 | 78,166,000 | 101,825,000 | 115,314,000 | 127,021,000 | 110,769,000 | 125,557,000 | 127,271,000 | 124,077,000 | 99,228,000 | 86,280,000 | 72,532,000 | 63,468,000 | 67,361,000 | 42,657,000 | 26,918,000 | ||
income from operations | -110,388,000 | -74,662,000 | -39,479,000 | -72,272,000 | -65,688,000 | -115,857,000 | -125,769,000 | -148,592,000 | -128,929,000 | -143,892,000 | -141,895,000 | -140,677,000 | -114,954,000 | -104,440,000 | -82,331,000 | -70,962,000 | -70,145,000 | -44,201,000 | -29,244,000 | ||
yoy | 68.05% | -35.56% | -68.61% | -51.36% | -49.05% | -19.48% | -11.36% | 5.63% | 12.16% | 37.77% | 72.35% | 98.24% | 63.88% | 136.28% | 181.53% | ||||||
qoq | 47.85% | 89.12% | -45.37% | 10.02% | -43.30% | -7.88% | -15.36% | 15.25% | -10.40% | 1.41% | 0.87% | 22.38% | 10.07% | 26.85% | 16.02% | 1.16% | 58.70% | 51.15% | |||
operating margin % | -866.13% | -398.22% | -252.52% | -382.67% | -292.15% | -747.80% | -599.81% | -671.94% | -760.24% | -888.39% | -977.98% | -1264.40% | -899.13% | -1051.55% | -1201.04% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% |
other income, net: | |||||||||||||||||||||
change in fair value of private warrants | |||||||||||||||||||||
interest expense | -11,272,000 | -12,342,000 | -12,255,000 | -12,321,000 | -12,610,000 | -8,908,000 | -2,757,000 | -5,331,000 | -2,779,000 | -1,273,000 | -1,665,000 | ||||||||||
interest income | 491,000 | 961,000 | 1,269,000 | 1,767,000 | 2,062,000 | 2,407,000 | 3,430,000 | 8,339,000 | 1,260,000 | 1,605,000 | 1,905,000 | ||||||||||
gain on extinguishment of debt | 247,000 | 15,281,000 | 6,775,000 | 1,314,000 | 147,346,000 | ||||||||||||||||
gain from acquisition of em4, llc | -12,000 | 438,000 | 1,752,000 | ||||||||||||||||||
gain from sale of investments | 727,000 | 2,908,000 | |||||||||||||||||||
change in fair value of derivative liability | 1,960,250 | 2,521,000 | 8,991,000 | ||||||||||||||||||
provision for credit loss | -546,500 | -2,186,000 | |||||||||||||||||||
gain and impairments related to investments and certain other assets, and other income | -100,000 | -162,000 | |||||||||||||||||||
total other income | -20,064,000 | -11,208,000 | 16,730,000 | -8,272,000 | 20,543,000 | 143,418,000 | 642,000 | 1,582,000 | -5,113,000 | 2,145,000 | -4,879,000 | -4,034,000 | -2,421,000 | 9,188,000 | -5,598,000 | -2,931,000 | 17,541,000 | 7,371,000 | -46,679,000 | ||
income before provision for income taxes | -47,290,750 | -85,870,000 | -22,749,000 | -80,544,000 | -45,145,000 | 27,561,000 | -125,127,000 | -147,010,000 | -134,042,000 | -141,747,000 | -146,774,000 | -144,711,000 | -117,375,000 | -95,252,000 | -87,929,000 | ||||||
provision for income taxes | 66,000 | -25,000 | 150,000 | 147,000 | -923,000 | 158,000 | 587,000 | 1,391,000 | 296,000 | 9,000 | 106,000 | 175,000 | -13,000 | 404,000 | |||||||
net income | -176,867,000 | -85,845,000 | -22,899,000 | -80,691,000 | -44,222,000 | 27,403,000 | -125,714,000 | -148,401,000 | -134,338,000 | -141,756,000 | -146,774,000 | -144,817,000 | -117,550,000 | -95,239,000 | -88,333,000 | -73,893,000 | -51,340,000 | -36,830,000 | -75,923,000 | ||
yoy | 299.95% | -413.27% | -81.78% | -45.63% | -67.08% | -119.33% | -14.35% | 2.47% | 14.28% | 48.84% | 66.16% | 95.98% | 128.96% | 158.59% | 16.35% | ||||||
qoq | 106.03% | 274.89% | -71.62% | 82.47% | -261.38% | -121.80% | -15.29% | 10.47% | -5.23% | -3.42% | 1.35% | 23.20% | 23.43% | 7.82% | 19.54% | 43.93% | 39.40% | -51.49% | |||
net income margin % | -1387.74% | -457.86% | -146.47% | -427.25% | -196.68% | 176.87% | -599.55% | -671.07% | -792.13% | -875.20% | -1011.61% | -1301.61% | -919.44% | -958.91% | -1288.59% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% |
less: deemed dividend on series a preferred stock | 536,000 | 3,682,000 | 7,602,000 | ||||||||||||||||||
net income attributable to common stockholders | -50,179,750 | -89,527,000 | |||||||||||||||||||
net income per share | |||||||||||||||||||||
basic | -2.58 | -1.29 | -8.19 | 0.06 | |||||||||||||||||
diluted | -2.58 | -1.29 | -7.9 | -0.24 | |||||||||||||||||
weighted-average shares used for eps calculation | |||||||||||||||||||||
basic | 69,281,237 | ||||||||||||||||||||
diluted | 69,281,237 | ||||||||||||||||||||
comprehensive loss: | |||||||||||||||||||||
net unrealized loss on available-for-sale debt securities | -40.25 | -2 | -41 | -118 | |||||||||||||||||
comprehensive income | -47,399 | -85,847 | -57,169.75 | 27,753 | -144,548 | ||||||||||||||||
losses and impairments related to investments and certain other assets, and other income | 536,000 | -774,000 | |||||||||||||||||||
net loss attributable to common stockholders | -30,501,000 | -73,893,000 | -51,340,000 | -36,830,000 | -75,923,000 | ||||||||||||||||
net income per share | |||||||||||||||||||||
basic and diluted | -0.62 | -1.92 | -0.3 | -0.36 | -0.34 | -0.37 | -0.4 | -0.4 | -0.33 | -0.27 | -0.25 | -0.21 | -0.15 | -0.11 | -0.23 | ||||||
weighted-average shares used for eps calculation | |||||||||||||||||||||
basic and diluted | 49,087,995 | ||||||||||||||||||||
comprehensive loss | -22,940 | -80,809 | -125,784 | -148,164 | -133,765 | -140,564 | -143,054 | -117,534 | -96,688 | -91,981 | -74,901 | -51,247 | -36,814 | -75,966 | |||||||
change in fair value of warrant liabilities | 19,000 | 65,000 | 821,000 | 591,000 | 2,373,000 | 26,000 | -1,054,000 | 2,577,000 | -1,231,000 | 11,733,000 | -3,857,000 | -3,477,000 | 17,072,000 | 6,928,000 | -46,649,000 | ||||||
loss from acquisition of em4, llc | -48,000 | ||||||||||||||||||||
changes in fair value of derivative liability | -3,671,000 | 29,253,000 | 2,476,000 | ||||||||||||||||||
shares used in computing net loss per share: | |||||||||||||||||||||
basic and diluted | 42,093,255 | 424,929,163 | 6,699,788 | 394,591,942 | 382,424,675 | 370,742,917 | 2,728,020 | 359,753,254 | 352,054,529 | 348,683,836 | 4,442,540 | 352,122,485 | 340,255,023 | 332,987,523 | |||||||
gains related to investments and certain other assets, and other income | -1,486,750 | 32,000 | |||||||||||||||||||
shares used in computing net income per share: | |||||||||||||||||||||
basic | -421,670,006 | 480,016,365 | |||||||||||||||||||
diluted | -440,413,475 | 494,014,952 | |||||||||||||||||||
net unrealized gain on available-for-sale debt securities | 59.75 | 350 | -70 | 997.75 | 573 | 1,192 | 2,226 | -1,270.25 | 16 | ||||||||||||
losses related to investments and certain other assets, and other income | -2,604,000 | ||||||||||||||||||||
other income | -2,061,250 | -5,967,000 | 1,787,000 | -4,065,000 | |||||||||||||||||
comprehensive income: | |||||||||||||||||||||
interest expense and other | -2,007,000 | -2,660,000 | -3,148,000 | -3,280,000 | -1,168,000 | -374,000 | -288,000 | -200,000 | |||||||||||||
interest income and other | 1,412,000 | 1,470,000 | 603,000 | 1,539,000 | 1,714,000 | 843,000 | 731,000 | 170,000 | |||||||||||||
net unrealized losses on available-for-sale debt securities | -1,449 | -3,648 | |||||||||||||||||||
revenue | 4,900,000 | 7,978,000 | 6,309,000 | 5,313,000 | |||||||||||||||||
cost of sales | 6,563,500 | 10,762,000 | 7,853,000 | 7,639,000 | |||||||||||||||||
loss on extinguishment of debt | |||||||||||||||||||||
loss before benefit from income taxes | -73,893,000 | -52,604,000 | |||||||||||||||||||
benefit from income taxes | -1,264,000 | ||||||||||||||||||||
shares used in computing net loss per share attributable to common stockholders: | |||||||||||||||||||||
basic and diluted | 42,093,255 | 424,929,163 | 6,699,788 | 394,591,942 | 382,424,675 | 370,742,917 | 2,728,020 | 359,753,254 | 352,054,529 | 348,683,836 | 4,442,540 | 352,122,485 | 340,255,023 | 332,987,523 | |||||||
net unrealized gains on available-for-sale debt securities | -1,008 | 93 | 16 | -43 | |||||||||||||||||
gross profit | -2,326,000 | ||||||||||||||||||||
revenues | |||||||||||||||||||||
professional fees and other incomes | -140,925 | ||||||||||||||||||||
state franchise taxes, other than income tax | -50,000 | ||||||||||||||||||||
net income from operations | -190,925 | ||||||||||||||||||||
other income - interest income | 2,500,856 | ||||||||||||||||||||
net income before income taxes | 2,309,931 | ||||||||||||||||||||
income tax provision and interest | -449,295 | ||||||||||||||||||||
net income attributable to common shares | 1,860,636 | ||||||||||||||||||||
net income/(loss) per ordinary share: | |||||||||||||||||||||
class a ordinary shares - basic and diluted | 0.05 | ||||||||||||||||||||
class f ordinary shares - basic and diluted | -0.01 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||
cash and cash equivalents | 20,259,000 | 54,482,000 | 48,166,000 | 59,322,000 | 82,840,000 | 114,209,000 | 109,563,000 | 139,095,000 | 74,723,000 | 89,115,000 | 89,933,000 | 69,552,000 | 56,069,000 | 76,717,000 | 159,416,000 | 329,977,000 | 129,323,000 | 134,689,000 | 206,730,000 | 208,944,000 | 518,874 | 1,011,395 | 977,141 | 1,365,240 | 1,450,092 | 271,007 | 1,289,907 |
restricted cash | 1,418,000 | 2,610,000 | 2,740,000 | 1,900,000 | 1,882,000 | 1,937,000 | 1,733,000 | 1,529,000 | 3,465,000 | 2,381,000 | 2,226,000 | 1,553,000 | 1,234,000 | 980,000 | 710,000 | 725,000 | 725,000 | 725,000 | 725,000 | 775,000 | |||||||
marketable securities | 2,580,000 | 19,508,000 | 59,465,000 | 78,863,000 | 99,827,000 | 84,409,000 | 108,768,000 | 150,727,000 | 246,242,000 | 276,678,000 | 332,363,000 | 419,314,000 | 496,983,000 | 528,548,000 | 547,440,000 | 462,141,000 | 415,544,000 | 445,755,000 | 403,591,000 | 276,710,000 | |||||||
accounts receivable | 5,960,000 | 14,317,000 | 18,457,000 | 28,471,000 | 14,272,000 | 15,246,000 | 29,034,000 | 14,124,000 | 18,903,000 | 16,809,000 | 21,051,000 | 11,172,000 | 9,936,000 | 9,279,000 | 3,256,000 | 13,013,000 | 1,033,000 | 2,444,000 | 2,143,000 | 5,971,000 | |||||||
inventory | 6,656,000 | 16,103,000 | 18,047,000 | 13,916,000 | 14,908,000 | 17,636,000 | 16,417,000 | 12,196,000 | 16,698,000 | 20,317,000 | 14,918,000 | 8,792,000 | 9,153,000 | 9,349,000 | 10,012,000 | 10,342,000 | |||||||||||
prepaid expenses and other current assets | 20,063,000 | 15,153,000 | 20,453,000 | 23,551,000 | 31,498,000 | 30,449,000 | 41,122,000 | 32,950,000 | 29,389,000 | 29,949,000 | 33,859,000 | 44,203,000 | 40,096,000 | 46,178,000 | 37,545,000 | 29,195,000 | 23,883,000 | 13,660,000 | 10,371,000 | 4,797,000 | |||||||
total current assets | 56,936,000 | 122,173,000 | 167,328,000 | 206,023,000 | 245,227,000 | 263,886,000 | 306,637,000 | 350,621,000 | 389,420,000 | 435,249,000 | 494,350,000 | 554,586,000 | 613,471,000 | 671,051,000 | 758,379,000 | 845,393,000 | 578,379,000 | 601,591,000 | 626,843,000 | 500,810,000 | 578,334 | 1,118,896 | 1,132,341 | 1,501,639 | 1,643,521 | 521,898 | 1,597,796 |
property and equipment | 34,950,000 | 37,798,000 | 46,643,000 | 49,537,000 | 52,281,000 | 55,220,000 | 62,127,000 | 66,300,000 | 72,647,000 | 79,144,000 | 78,395,000 | 30,260,000 | 21,646,000 | 19,946,000 | 16,437,000 | 11,009,000 | 11,128,000 | 9,258,000 | 8,366,000 | 7,689,000 | |||||||
operating lease right-of-use assets | 14,115,000 | 17,108,000 | 20,127,000 | 29,561,000 | 31,479,000 | 41,036,000 | 46,631,000 | 42,706,000 | 19,660,000 | 21,043,000 | 20,986,000 | 21,244,000 | 22,812,000 | 17,447,000 | 14,005,000 | 9,145,000 | 10,165,000 | 11,976,000 | 12,835,000 | ||||||||
intangible assets | 10,017,000 | 10,986,000 | 13,493,000 | 14,524,000 | 15,556,000 | 16,712,000 | 21,994,000 | 22,994,000 | 27,059,000 | 28,157,000 | 29,255,000 | 22,077,000 | 22,768,000 | 23,458,000 | 2,361,000 | 2,424,000 | 2,488,000 | ||||||||||
goodwill | 1,750,000 | 1,750,000 | 3,994,000 | 3,994,000 | 3,994,000 | 3,994,000 | 7,390,000 | 7,390,000 | 19,879,000 | 19,879,000 | 19,879,000 | 18,816,000 | 18,830,000 | 18,465,000 | 2,945,000 | 3,110,000 | 3,110,000 | 701,000 | 701,000 | 701,000 | |||||||
other non-current assets | 13,575,000 | 13,701,000 | 13,902,000 | 15,810,000 | 16,676,000 | 22,566,000 | 23,166,000 | 22,356,000 | 24,213,000 | 16,302,000 | 15,486,000 | 40,344,000 | 42,981,000 | 25,230,000 | 13,673,000 | 12,455,000 | 2,536,000 | 2,641,000 | 2,469,000 | 1,151,000 | |||||||
total assets | 131,343,000 | 203,516,000 | 265,487,000 | 319,449,000 | 365,213,000 | 403,414,000 | 467,945,000 | 512,367,000 | 552,878,000 | 599,774,000 | 658,351,000 | 687,327,000 | 742,508,000 | 775,597,000 | 807,800,000 | 883,536,000 | 607,806,000 | 626,167,000 | 651,214,000 | 510,351,000 | 406,303,529 | 407,531,587 | 408,833,563 | 407,938,951 | 406,382,460 | 404,408,042 | 402,988,525 |
liabilities and stockholders’ deficit | |||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||
accounts payable | 4,741,000 | 21,391,000 | 29,714,000 | 27,661,000 | 18,972,000 | 28,761,000 | 27,359,000 | 21,113,000 | 20,732,000 | 21,909,000 | 29,916,000 | 18,626,000 | 24,216,000 | 20,119,000 | 17,293,000 | 14,419,000 | 9,682,000 | 6,996,000 | 7,845,000 | 6,039,000 | |||||||
accrued and other current liabilities | 19,430,000 | 33,915,000 | 31,901,000 | 35,049,000 | 31,567,000 | 47,954,000 | 52,136,000 | 52,605,000 | 58,489,000 | 66,039,000 | 64,662,000 | 52,962,000 | 31,832,000 | 31,504,000 | 24,848,000 | 19,844,000 | 18,551,000 | 12,904,000 | 8,919,000 | 10,452,000 | |||||||
operating lease liabilities | 2,035,000 | 7,362,000 | 7,572,000 | 9,968,000 | 10,049,000 | 10,978,000 | 11,309,000 | 10,154,000 | 6,475,000 | 6,071,000 | 5,906,000 | 5,953,000 | 6,139,000 | 6,217,000 | 5,079,000 | 4,735,000 | 4,927,000 | 4,275,000 | 4,312,000 | ||||||||
current portion of long-term debt | 110,905,000 | ||||||||||||||||||||||||||
total current liabilities | 137,111,000 | 62,668,000 | 69,187,000 | 72,678,000 | 60,588,000 | 87,693,000 | 90,804,000 | 83,872,000 | 85,696,000 | 94,019,000 | 100,484,000 | 77,541,000 | 62,187,000 | 57,840,000 | 47,220,000 | 38,998,000 | 33,226,000 | 24,239,000 | 21,180,000 | 16,590,000 | 3,098,900 | 300,543 | 1,481,597 | 1,355,865 | 689,313 | 156,103 | 956,425 |
debt | 429,178,000 | 429,679,000 | 486,299,000 | 500,516,000 | |||||||||||||||||||||||
operating lease liabilities, non-current | 3,674,000 | 13,047,000 | 14,406,000 | 22,007,000 | 24,083,000 | 33,016,000 | 38,386,000 | 35,079,000 | 15,551,000 | 16,701,000 | 17,061,000 | 16,989,000 | 18,057,000 | 12,464,000 | 10,102,000 | 5,768,000 | 6,639,000 | 8,760,000 | 9,662,000 | ||||||||
other non-current liabilities | 184,000 | 184,000 | 184,000 | 134,000 | 815,000 | 1,292,000 | 2,115,000 | 1,667,000 | 1,017,000 | 358,000 | 6,026,000 | 4,005,000 | 2,338,000 | 1,806,000 | 429,000 | 598,000 | 911,000 | 1,133,000 | 1,236,000 | 1,318,000 | |||||||
total liabilities not subject to compromise | 140,969,000 | ||||||||||||||||||||||||||
liabilities subject to compromise | 467,373,000 | ||||||||||||||||||||||||||
total liabilities | 608,342,000 | 505,077,000 | 513,456,000 | 581,119,000 | 586,002,000 | 661,425,000 | 747,790,000 | 737,115,000 | 718,543,000 | 728,921,000 | 740,631,000 | 713,732,000 | 699,548,000 | 687,036,000 | 683,916,000 | 685,551,000 | 68,706,000 | 79,151,000 | 84,054,000 | 361,610,000 | 17,098,900 | 14,300,543 | 15,481,597 | 15,355,865 | 14,982,907 | 14,515,306 | 14,956,425 |
commitments and contingencies | |||||||||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||||||||
class a common stock, 0.0001 par value... | 7,000 | 3,000 | 34,000 | 29,000 | 27,000 | 22,000 | 158 | 129 | 129 | 129 | 136 | 151 | 170 | ||||||||||||||
class b common stock, 0.0001 par value... | 1,000 | 1,000 | 10,000 | 10,000 | 10,000 | 11,000 | |||||||||||||||||||||
additional paid-in capital | 2,315,081,000 | 2,310,266,000 | 2,257,171,000 | 2,244,742,000 | 2,204,814,000 | 2,122,786,000 | 1,998,063,000 | 1,927,378,000 | 1,838,299,000 | 1,741,053,000 | 1,647,357,000 | 1,558,685,000 | 1,484,996,000 | 1,413,064,000 | 1,314,742,000 | 1,257,214,000 | 1,287,558,000 | 1,244,228,000 | 1,227,559,000 | 733,175,000 | 2,954,117 | 24,006 | 24,006 | 759,209 | 2,266,014 | ||
accumulated other comprehensive loss | -474,000 | -456,000 | -454,000 | -235,000 | -808,000 | -2,000,000 | -4,226,000 | -5,989,000 | -6,005,000 | -4,556,000 | |||||||||||||||||
treasury stock | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -312,477,000 | -275,519,000 | -235,871,000 | |||||||||||
accumulated deficit | -2,479,137,000 | -2,302,270,000 | -2,216,425,000 | -2,193,526,000 | -2,112,835,000 | -2,068,613,000 | -1,965,409,000 | -1,839,695,000 | -1,691,294,000 | -1,556,956,000 | -1,415,200,000 | -1,268,426,000 | -1,123,609,000 | -1,006,059,000 | -910,820,000 | -822,487,000 | -748,594,000 | -697,254,000 | -660,424,000 | -584,501,000 | |||||||
total stockholders’ deficit | -476,999,000 | -304,929,000 | -272,179,000 | -261,670,000 | -220,789,000 | -258,011,000 | -279,845,000 | -224,748,000 | -165,665,000 | -129,147,000 | -82,280,000 | ||||||||||||||||
total liabilities and stockholders’ deficit | 131,343,000 | 319,449,000 | 365,213,000 | 403,414,000 | 467,945,000 | 512,367,000 | 552,878,000 | 599,774,000 | 658,351,000 | ||||||||||||||||||
liabilities, preferred stock and stockholders’ deficit | |||||||||||||||||||||||||||
series a preferred stock | 3,368,000 | 24,210,000 | |||||||||||||||||||||||||
class a common stock | 7,000 | 5,000 | 3,000 | 42,000 | 36,000 | 32,000 | 31,000 | 30,000 | 29,000 | 28,000 | 27,000 | 26,000 | 24,000 | 23,000 | 384,204,620 | ||||||||||||
class b common stock | 1,000 | 1,000 | 1,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 11,000 | 11,000 | |||||||||||||
total liabilities, preferred stock and stockholders’ deficit | 203,516,000 | 265,487,000 | |||||||||||||||||||||||||
warrant liabilities | 1,000 | 19,000 | 248,000 | 1,069,000 | 1,660,000 | 4,033,000 | 4,059,000 | 3,005,000 | 5,582,000 | 4,351,000 | 16,399,000 | 31,230,000 | 27,753,000 | 44,825,000 | 51,753,000 | 343,400,000 | |||||||||||
accumulated other comprehensive income loss | -413,000 | ||||||||||||||||||||||||||
accumulated other comprehensive income | -295,000 | 241,000 | -68,000 | 2,000 | -908,000 | 100,000 | 7,000 | -9,000 | 34,000 | ||||||||||||||||||
convertible and senior notes | 539,405,000 | ||||||||||||||||||||||||||
convertible senior notes | 616,237,000 | 615,428,000 | 614,619,000 | 613,810,000 | 613,001,000 | 612,192,000 | 611,384,000 | 610,575,000 | 609,766,000 | 608,957,000 | |||||||||||||||||
liabilities and stockholders’ equity | |||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||
total stockholders’ equity | -26,405,000 | 42,960,000 | 88,561,000 | 123,884,000 | 197,985,000 | 539,100,000 | 547,016,000 | 567,160,000 | 148,741,000 | 5,000,009 | 6,096,284 | 6,217,206 | 5,448,326 | 5,000,003 | 5,000,006 | 5,000,010 | |||||||||||
total liabilities and stockholders’ equity | 687,327,000 | 742,508,000 | 775,597,000 | 807,800,000 | 883,536,000 | 607,806,000 | 626,167,000 | 651,214,000 | 406,303,529 | 407,531,587 | 408,833,563 | 407,938,951 | 406,382,460 | 404,408,042 | 402,988,525 | ||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||
debt, current | 66,000 | 64,000 | 104,000 | 99,000 | |||||||||||||||||||||||
debt, non-current | 177,000 | 194,000 | 223,000 | 302,000 | |||||||||||||||||||||||
inventories | 7,871,000 | 4,318,000 | 3,283,000 | 3,613,000 | |||||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | |||||||||||||||||||||||||||
convertible preferred stock: | |||||||||||||||||||||||||||
series a convertible preferred stock, 0.00001 par value... | |||||||||||||||||||||||||||
founders’ preferred stock, 0.00001 par value... | |||||||||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 510,351,000 | ||||||||||||||||||||||||||
prepaid assets | 59,460 | 107,501 | 155,200 | 136,399 | 193,429 | 250,891 | 307,889 | ||||||||||||||||||||
deferred income tax | 15,079 | 2,608 | 2,353 | 278,256 | |||||||||||||||||||||||
investments and cash held in trust account | 405,725,195 | 406,397,612 | 407,698,614 | 406,434,959 | 404,738,939 | 403,886,144 | 401,390,729 | ||||||||||||||||||||
accrued expenses, formation and offering costs | 2,935,896 | 85,889 | 78,185 | 53,203 | 41,362 | 29,053 | 628,169 | ||||||||||||||||||||
state franchise tax accrual | 30,000 | 20,000 | 50,000 | 200,000 | 150,000 | 100,000 | 50,000 | ||||||||||||||||||||
current income tax and interest payable | 133,004 | 194,654 | 1,353,412 | ||||||||||||||||||||||||
deferred underwriting compensation | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | ||||||||||||||||||||
commitments and contingencies: | |||||||||||||||||||||||||||
common stock | |||||||||||||||||||||||||||
class f common stock, 0.0001 par value... | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||||||||||
retained earnings | 2,044,734 | 6,071,149 | |||||||||||||||||||||||||
class a subject to possible redemption, 38,713,476 and 38,713,476 shares at june 30, 2020 and december 31, 2019, respectively | 387,134,760 | ||||||||||||||||||||||||||
class a subject to possible redemption, 38,713,476 and 38,713,476 shares at march 31, 2020 and december 31, 2019, respectively | 387,134,760 | ||||||||||||||||||||||||||
net income | 6,192,071 | ||||||||||||||||||||||||||
deferred offering costs | |||||||||||||||||||||||||||
notes and advances payable – related party | |||||||||||||||||||||||||||
income tax payable | 1,102,662 | ||||||||||||||||||||||||||
class a subject to possible redemption, 38,713,476 and -0- shares at december 31, 2019 and december 31, 2018, respectively | 387,134,760 | ||||||||||||||||||||||||||
additional paid-in-capital | 24,006 | 4,126,635 | |||||||||||||||||||||||||
retained earnings/ | 5,423,191 | ||||||||||||||||||||||||||
current income tax payable | 497,951 | 27,050 | |||||||||||||||||||||||||
deferred income tax payable | 293,594 | 359,203 | |||||||||||||||||||||||||
class a subject to possible redemption, 38,639,955 | 386,399,550 | ||||||||||||||||||||||||||
net income/ | 4,239,658 | 2,732,841 | 872,205 | ||||||||||||||||||||||||
class a subject to possible redemption, 38,489,273 | 384,892,730 | ||||||||||||||||||||||||||
class a subject to possible redemption, 38,303,209 | 383,032,090 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||
net loss | -176,867,000 | -85,845,000 | -22,899,000 | -80,691,000 | -44,222,000 | -125,714,000 | -148,401,000 | -134,338,000 | -141,756,000 | -146,774,000 | -144,817,000 | -117,550,000 | -95,239,000 | -88,333,000 | -73,893,000 | -51,340,000 | -36,830,000 | -75,923,000 | ||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||
depreciation and amortization | 4,013,000 | 4,184,000 | 4,359,000 | 4,413,000 | 5,086,000 | 8,066,000 | 7,156,000 | 11,932,000 | 4,549,000 | 2,987,000 | 2,192,000 | 1,830,000 | 1,739,000 | 805,000 | 1,922,000 | 908,000 | 675,000 | 657,000 | ||||||||
amortization of operating lease right-of-use assets | 1,185,000 | 1,482,000 | 1,528,000 | 1,918,000 | 2,033,000 | 2,010,000 | 1,892,000 | 1,792,000 | 1,693,000 | 1,610,000 | 1,706,000 | |||||||||||||||
amortization of discount on marketable securities | -13,000 | -103,000 | ||||||||||||||||||||||||
loss on marketable securities | 540,000 | 60,000 | -1,185,000 | 1,275,000 | -300,000 | 2,320,000 | -180,000 | 5,915,000 | -1,174,000 | 3,033,000 | ||||||||||||||||
losses and impairments on non-marketable securities and certain other assets | 0 | |||||||||||||||||||||||||
change in fair value of warrants | -2,577,000 | 1,231,000 | -11,733,000 | 3,857,000 | -17,072,000 | -6,928,000 | 46,649,000 | |||||||||||||||||||
vendor stock in lieu of cash program | 0 | 7,091,000 | 3,018,000 | 2,676,000 | ||||||||||||||||||||||
amortization of debt discount and issuance costs | 2,087,000 | 2,020,000 | 1,962,000 | 1,886,000 | 809,000 | 809,000 | 809,000 | 809,000 | 809,000 | 809,000 | 809,000 | 809,000 | 809,000 | |||||||||||||
inventory write-offs and write-downs | 8,233,000 | 1,161,000 | 1,162,000 | 2,264,000 | -604,000 | 16,903,000 | 2,204,000 | 3,911,000 | 7,981,000 | 5,451,000 | ||||||||||||||||
loss on firm purchase commitments | ||||||||||||||||||||||||||
change in the fair value of the derivatives | 3,671,000 | |||||||||||||||||||||||||
gain or write-off on sale or disposal of property and equipment | -72,000 | 0 | -52,000 | 290,000 | ||||||||||||||||||||||
gain on extinguishment of debt | -247,000 | 0 | -15,281,000 | -6,775,000 | -1,314,000 | |||||||||||||||||||||
share-based compensation, including restructuring costs | -486,000 | 10,469,000 | -20,657,000 | 19,380,000 | 23,343,000 | |||||||||||||||||||||
impairment of goodwill and other intangible assets | 0 | 0 | ||||||||||||||||||||||||
impairment of long-lived assets | 0 | |||||||||||||||||||||||||
loss from acquisition of em4 | 48,000 | |||||||||||||||||||||||||
provision for credit loss | 0 | |||||||||||||||||||||||||
gain from sale of investment | 0 | |||||||||||||||||||||||||
change in product warranty and other | -112,000 | 1,627,000 | 4,329,000 | 328,000 | -423,000 | |||||||||||||||||||||
deferred taxes | 2,000 | |||||||||||||||||||||||||
reorganization items | ||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||
accounts receivable | 8,357,000 | 4,140,000 | 10,013,000 | -14,198,000 | 975,000 | -13,846,000 | 4,778,000 | -2,094,000 | 4,242,000 | -9,877,000 | -1,313,000 | -581,000 | -2,719,000 | 9,757,000 | -11,981,000 | 2,221,000 | -301,000 | 3,828,000 | ||||||||
inventories | 1,214,000 | 783,000 | -5,293,000 | -1,570,000 | 3,332,000 | -17,586,000 | 2,298,000 | -291,000 | -13,380,000 | -11,578,000 | -3,829,000 | -3,834,000 | -2,046,000 | -768,000 | -4,093,000 | -4,018,000 | -2,198,000 | -442,000 | ||||||||
prepaid expenses and other current assets | -4,910,000 | 3,840,000 | 499,000 | 11,110,000 | -3,003,000 | -7,495,000 | 783,000 | -3,000,000 | 3,926,000 | 9,932,000 | -1,872,000 | -2,268,000 | 883,000 | -3,300,000 | -7,369,000 | -8,502,000 | -2,672,000 | -5,797,000 | ||||||||
other non-current assets | 3,722,000 | 201,000 | 16,912,000 | 866,000 | 15,830,000 | -1,071,000 | 3,635,000 | 1,829,000 | -1,131,000 | -4,156,000 | -1,918,000 | -839,000 | -690,000 | 158,000 | 82,000 | 1,402,000 | -172,000 | -1,318,000 | ||||||||
accounts payable | 13,148,000 | -8,066,000 | 1,731,000 | 7,623,000 | -9,966,000 | 6,128,000 | -361,000 | 257,000 | -7,430,000 | 11,191,000 | -3,078,000 | 987,000 | 1,409,000 | 5,983,000 | 508,000 | 2,476,000 | -912,000 | 1,766,000 | ||||||||
accrued and other current liabilities | -3,140,000 | 2,348,000 | -10,885,000 | 3,816,000 | -16,802,000 | 7,445,000 | -5,221,000 | 3,452,000 | -724,000 | 11,651,000 | 12,052,000 | 4,610,000 | -94,000 | 1,200,000 | -2,332,000 | 3,258,000 | 3,465,000 | -813,000 | ||||||||
other non-current liabilities | -2,878,000 | -1,359,000 | -13,505,000 | -2,066,000 | -9,976,000 | -2,570,000 | -1,101,000 | -588,000 | -7,143,000 | -1,488,000 | 1,536,000 | -2,640,000 | -588,000 | -343,000 | -1,922,000 | -2,436,000 | -939,000 | -720,000 | ||||||||
net cash from operating activities | -50,522,000 | -47,978,000 | -53,725,000 | -44,229,000 | -61,938,000 | -81,229,000 | -52,778,000 | -56,543,000 | -73,309,000 | -64,674,000 | -74,673,000 | -48,361,000 | -52,361,000 | -32,837,000 | -54,165,000 | -36,073,000 | -30,169,000 | -28,014,000 | -74,085,870 | -1,164,938 | -1,266,748 | 875,556 | ||||
capital expenditures | -2,136,000 | -797,000 | 211,000 | 951,000 | -756,000 | -985,000 | -2,154,000 | -7,543,000 | -7,690,000 | -3,702,000 | -2,130,000 | -4,753,000 | -1,807,000 | -3,054,000 | -2,278,000 | -1,124,000 | -2,103,000 | -385,000 | 0 | 0 | 0 | 0 | ||||
free cash flows | -52,658,000 | -48,775,000 | -53,514,000 | -43,278,000 | -62,694,000 | -82,214,000 | -54,932,000 | -64,086,000 | -80,999,000 | -68,376,000 | -76,803,000 | -53,114,000 | -54,168,000 | -35,891,000 | -56,443,000 | -37,197,000 | -32,272,000 | -28,399,000 | -74,085,870 | -1,164,938 | -1,266,748 | 875,556 | ||||
cash flows from investing activities: | ||||||||||||||||||||||||||
purchases of marketable securities | -188,000 | 74,000 | -19,607,000 | -34,547,000 | -38,004,000 | -48,827,000 | -32,329,000 | -98,046,000 | -89,495,000 | -81,623,000 | -40,692,000 | -93,466,000 | -76,753,000 | -193,687,000 | -186,754,000 | -153,890,000 | -150,044,000 | -226,245,000 | ||||||||
proceeds from maturities of marketable securities | 9,140,000 | 38,220,000 | 40,536,000 | 40,224,000 | 23,095,000 | 88,990,000 | 129,450,000 | 113,065,000 | 129,426,000 | 148,345,000 | 113,299,000 | 107,015,000 | 55,599,000 | 91,454,000 | 59,950,000 | 137,288,000 | 100,344,000 | 69,275,000 | ||||||||
proceeds from sales/redemptions of marketable securities | 7,431,000 | 1,704,000 | 102,000 | 14,388,000 | -316,000 | 274,000 | 787,000 | 12,417,000 | 18,987,000 | 20,165,000 | ||||||||||||||||
issuance of promissory notes | 0 | |||||||||||||||||||||||||
proceeds from sales of equity investment | 0 | |||||||||||||||||||||||||
purchases of property and equipment | -1,255,000 | -540,000 | -111,000 | -115,000 | -846,000 | -1,284,000 | -786,000 | -4,298,000 | -5,151,000 | -11,680,000 | -4,337,000 | -3,786,000 | -2,487,000 | -5,004,000 | -2,278,000 | -1,445,000 | -1,821,000 | -889,000 | ||||||||
acquisition of em4 | 0 | 0 | 0 | 242,000 | 300,000 | -4,727,000 | ||||||||||||||||||||
proceeds from disposal of property and equipment | 0 | 0 | 52,000 | 253,000 | ||||||||||||||||||||||
acquisition of seagate’s lidar business | 0 | 0 | 0 | -12,608,000 | ||||||||||||||||||||||
net cash from investing activities | 15,128,000 | 40,266,000 | 20,972,000 | 20,445,000 | -15,636,000 | 34,426,000 | 97,122,000 | 23,138,000 | 53,767,000 | 62,599,000 | 87,066,000 | 27,916,000 | 7,399,000 | -94,395,000 | -50,612,000 | 28,867,000 | -44,089,000 | -128,354,000 | -272,503,764 | 672,417 | 1,301,002 | -1,263,655 | ||||
cash flows from financing activities: | ||||||||||||||||||||||||||
net proceeds from issuance of class a common stock under the equity financing program | 0 | 14,692,000 | 21,067,000 | 394,000 | 47,553,000 | 17,230,000 | 11,479,000 | 9,107,000 | 6,939,000 | 22,665,000 | ||||||||||||||||
proceeds from issuance of senior notes, net of senior notes and 2030 convertible notes issuance costs | 0 | |||||||||||||||||||||||||
proceeds from exercise of stock options | 1,000 | 371,000 | 501,000 | 990,000 | 534,000 | 1,036,000 | 1,095,000 | 1,100,000 | 699,000 | 1,092,000 | 1,121,000 | 1,926,000 | 2,491,000 | 321,000 | ||||||||||||
proceeds from sale of class a common stock under espp | 43,000 | 0 | 353,000 | 1,235,000 | 0 | |||||||||||||||||||||
payments of employee taxes related to stock-based awards | -64,000 | -794,000 | -86,000 | -110,000 | -1,757,000 | -126,000 | -1,565,000 | 0 | 0 | -572,000 | -957,000 | -1,049,000 | ||||||||||||||
proceeds from issuance of class a common stock to a wholly owned subsidiary of tpk | 10,000,000 | |||||||||||||||||||||||||
proceeds from a financing transaction | ||||||||||||||||||||||||||
repurchases of 2026 convertible senior notes | ||||||||||||||||||||||||||
proceeds from issuance of series a preferred stock, net of issuance costs, discount and commitment fees | 0 | 0 | ||||||||||||||||||||||||
net cash from financing activities | -21,000 | 13,898,000 | 22,437,000 | 284,000 | 46,150,000 | 17,475,000 | 18,092,000 | 20,097,000 | 18,879,000 | 23,129,000 | 1,409,000 | 51,000 | -37,467,000 | -43,344,000 | 305,431,000 | 1,840,000 | 2,217,000 | 154,104,000 | ||||||||
net increase in cash, cash equivalents and restricted cash | -23,500,000 | -31,424,000 | -29,328,000 | 62,436,000 | -13,308,000 | -663,000 | 21,054,000 | 200,654,000 | ||||||||||||||||||
beginning cash, cash equivalents and restricted cash | 0 | 0 | 0 | 84,722,000 | 0 | 140,624,000 | 0 | 0 | 0 | 71,105,000 | 0 | 0 | 0 | 330,702,000 | 0 | 0 | ||||||||||
ending cash, cash equivalents and restricted cash | -35,415,000 | 6,186,000 | -10,316,000 | 61,222,000 | -31,424,000 | 111,296,000 | 62,436,000 | -13,308,000 | -663,000 | 92,159,000 | 13,802,000 | -20,394,000 | -82,429,000 | 160,126,000 | 200,654,000 | -5,366,000 | ||||||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||||||||
cash paid for interest | 0 | 8,947,000 | 10,634,000 | 9,898,000 | 10,154,000 | 3,907,000 | 0 | 3,906,000 | 0 | 16,000 | 18,000 | 19,000 | ||||||||||||||
supplemental disclosures of noncash investing and financing activities: | ||||||||||||||||||||||||||
conversion of 2030 convertible notes | ||||||||||||||||||||||||||
conversion of 2026 convertible notes | ||||||||||||||||||||||||||
conversion of series a preferred stock to class a common stock | 3,906,000 | 24,523,000 | ||||||||||||||||||||||||
deemed dividend on series a preferred stock | -536,000 | -3,682,000 | ||||||||||||||||||||||||
recognition/derecognition of right-of-use assets in exchange for lease obligations | ||||||||||||||||||||||||||
purchases of property and equipment recorded in accounts payable and accrued liabilities | -881,000 | -257,000 | 322,000 | 1,066,000 | 90,000 | 299,000 | -1,368,000 | -3,245,000 | -2,539,000 | 7,978,000 | 2,207,000 | -967,000 | 680,000 | 1,950,000 | 321,000 | -282,000 | 504,000 | |||||||||
vendor stock in lieu of cash program—advances for capital projects and equipment | ||||||||||||||||||||||||||
investment in plus | ||||||||||||||||||||||||||
change in fair value of private warrants | 1,000 | -821,000 | -2,373,000 | -26,000 | 1,054,000 | |||||||||||||||||||||
change in the fair value of derivatives | -2,521,000 | |||||||||||||||||||||||||
impairment of investments | ||||||||||||||||||||||||||
gain from acquisition of em4 | 0 | 278,000 | -1,752,000 | |||||||||||||||||||||||
repurchase of 2026 convertible senior notes | 0 | |||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | 6,186,000 | -20,394,000 | -82,429,000 | -170,576,000 | ||||||||||||||||||||||
conversion of 2030 convertible notes to class a common stock | 0 | 0 | 1,127,000 | |||||||||||||||||||||||
conversion of 2026 convertible senior notes to class a common stock | 0 | 4,286,000 | 11,819,000 | |||||||||||||||||||||||
recognition/(derecognition) of operating lease right-of-use asset and liability | 0 | |||||||||||||||||||||||||
amortization of premium (discount) on marketable securities | -494,000 | -870,000 | -1,977,000 | -2,341,000 | -868,000 | -743,000 | 262,000 | |||||||||||||||||||
recognition/derecognition of operating lease right-of-use asset and liability | ||||||||||||||||||||||||||
acquisition of freedom photonics llc | 0 | |||||||||||||||||||||||||
acquisition of certain assets from solfice research, inc. | 0 | |||||||||||||||||||||||||
advances for capital projects and equipment | -441,000 | -336,000 | ||||||||||||||||||||||||
repurchases of common stock and redemption of warrants | ||||||||||||||||||||||||||
conversion of 2030 convertible notes to equity | 10,349,000 | |||||||||||||||||||||||||
issuance of class a common stock upon exercise of warrants | 0 | 0 | 314,000 | 18,689,000 | 0 | 0 | 338,293,000 | |||||||||||||||||||
investment in ecarx holdings, inc. | ||||||||||||||||||||||||||
amortization of premium/discount on marketable securities | ||||||||||||||||||||||||||
vendor stock-in-lieu of cash program | 4,034,000 | 19,342,000 | 10,373,000 | 15,430,000 | 5,684,000 | 8,972,000 | 12,571,000 | 12,068,000 | 7,848,000 | |||||||||||||||||
changes in fair value of derivative liability | ||||||||||||||||||||||||||
amortization of debt premium/discount and issuance costs | ||||||||||||||||||||||||||
vendor stock-in-lieu of cash program—advances for capital projects and equipment | 1,140,000 | 3,166,000 | 1,725,000 | 2,520,000 | 7,378,000 | 10,731,000 | ||||||||||||||||||||
share-based compensation | 44,465,000 | 47,101,000 | 44,882,000 | 59,195,000 | 55,954,000 | 44,531,000 | 52,551,000 | 38,625,000 | 26,698,000 | 27,797,000 | 33,520,000 | 14,530,000 | 1,837,000 | |||||||||||||
product warranty and other | -1,684,000 | 1,189,000 | 2,498,000 | 586,000 | -794,000 | 64,000 | 107,000 | |||||||||||||||||||
operating lease right-of-use assets obtained in exchange for lease obligations | 3,842,000 | 25,112,000 | 387,000 | 1,737,000 | 1,211,000 | 0 | 6,756,000 | 4,247,000 | 5,746,000 | 0 | 0 | 2,876,000 | ||||||||||||||
write-off or loss on sale or disposal of property and equipment | ||||||||||||||||||||||||||
impairment of goodwill and intangible assets | ||||||||||||||||||||||||||
expense related to volvo warrants | ||||||||||||||||||||||||||
product warranty | ||||||||||||||||||||||||||
other | -578,000 | 371,000 | -63,000 | 575,000 | ||||||||||||||||||||||
cash received from acquisition of optogration, inc. | 0 | |||||||||||||||||||||||||
disposal of property and equipment | ||||||||||||||||||||||||||
proceeds from issuance of class a common stock to a tpk group company | ||||||||||||||||||||||||||
proceeds from issuance of convertible senior notes, net of debt discounts of 15,625 | ||||||||||||||||||||||||||
purchases of capped call options | ||||||||||||||||||||||||||
repayment of debt | 47,000 | -16,000 | -68,000 | -75,000 | ||||||||||||||||||||||
principal payments on finance leases | -76,000 | -67,000 | ||||||||||||||||||||||||
proceeds from exercise of warrants | 0 | 0 | 0 | 153,927,000 | ||||||||||||||||||||||
other financing activities | 215,000 | |||||||||||||||||||||||||
issuance of class a common stock for investment in plus | ||||||||||||||||||||||||||
issuance of class a common stock for investment in robotic research opco, llc | ||||||||||||||||||||||||||
issuance of class a common stock to acquire optogration, inc. | ||||||||||||||||||||||||||
operating lease right-of-use assets obtained in exchange for lease obligations upon adoption of asc 842 | 0 | 0 | 10,849,000 | |||||||||||||||||||||||
amounts payable for shares repurchased | ||||||||||||||||||||||||||
loss on investment in non-marketable securities | ||||||||||||||||||||||||||
acquisition of certain assets from solfice | ||||||||||||||||||||||||||
repurchase of common stock | ||||||||||||||||||||||||||
amortization of premium on marketable securities | 177,000 | 192,000 | 475,000 | 444,000 | ||||||||||||||||||||||
loss on sale or disposal of property and equipment | ||||||||||||||||||||||||||
loss on extinguishment of debt | ||||||||||||||||||||||||||
impairment of investments and certain other assets | ||||||||||||||||||||||||||
warranty related to sensors | 299,000 | |||||||||||||||||||||||||
proceeds from refundable security deposits | ||||||||||||||||||||||||||
cash received from gores on recapitalization | ||||||||||||||||||||||||||
transaction costs related to merger with gores | ||||||||||||||||||||||||||
proceeds from issuance of series x convertible preferred stock | ||||||||||||||||||||||||||
issuance cost paid for series x convertible preferred stock | ||||||||||||||||||||||||||
proceeds from the issuance of debt | ||||||||||||||||||||||||||
debt prepayment charges | ||||||||||||||||||||||||||
debt issuance costs | ||||||||||||||||||||||||||
conversion of series a, series x and founders’ convertible preferred stock into class a and class b common stock | ||||||||||||||||||||||||||
assets acquired under finance leases | ||||||||||||||||||||||||||
impairment of inventories | 3,972,000 | 3,422,000 | 1,356,000 | 1,317,000 | 148,000 | 1,196,000 | 257,000 | |||||||||||||||||||
proceeds from sales of marketable securities | 18,489,000 | 37,473,000 | 12,842,000 | 46,556,000 | 7,432,000 | 29,505,000 | ||||||||||||||||||||
repurchase of common stock and redemption of warrants | 0 | -36,958,000 | -43,920,000 | 0 | -2,000 | |||||||||||||||||||||
noncash lease expense related to operating lease right-of-use assets | 1,254,000 | 885,000 | ||||||||||||||||||||||||
acquisition of freedom photonics | ||||||||||||||||||||||||||
acquisition of solfice assets | ||||||||||||||||||||||||||
receivable from stock option exercises | ||||||||||||||||||||||||||
payments of employee taxes related to vested restricted stock units | -516,000 | |||||||||||||||||||||||||
deferred financing costs recorded in accrued liabilities | 223,000 | |||||||||||||||||||||||||
noncash lease expense relating to operating lease right-of-use assets | ||||||||||||||||||||||||||
change in fair value of warrants and safe liabilities | ||||||||||||||||||||||||||
settlement of safe notes | ||||||||||||||||||||||||||
proceeds from issuance of series a convertible preferred stock | ||||||||||||||||||||||||||
proceeds from issuance of safe notes | ||||||||||||||||||||||||||
proceeds from issuance of restricted common stock | ||||||||||||||||||||||||||
share-based compensation—vendor payments | ||||||||||||||||||||||||||
merger related expense recorded in accounts payable and accrued liabilities | ||||||||||||||||||||||||||
issuance cost for series x preferred stock recorded in accounts payable | ||||||||||||||||||||||||||
noncash lease expense related to operating right-of-use assets | 858,000 | 890,000 | ||||||||||||||||||||||||
unrealized loss on marketable securities | -218,000 | 278,000 | ||||||||||||||||||||||||
cash received from gores on settlement of recapitalization of escrow | ||||||||||||||||||||||||||
net decrease in cash and cash equivalents, and restricted cash and cash equivalents | -2,264,000 | |||||||||||||||||||||||||
beginning cash and cash equivalents, and restricted cash and cash equivalents | 209,719,000 | |||||||||||||||||||||||||
ending cash and cash equivalents, and restricted cash and cash equivalents | 207,455,000 | |||||||||||||||||||||||||
net income | -358,919,543 | -4,026,415 | -120,922 | 768,880 | ||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||
loss on disposal of property and equipment | ||||||||||||||||||||||||||
principal payments on capital leases | ||||||||||||||||||||||||||
net increase in cash and cash equivalents, and restricted cash and cash equivalents | ||||||||||||||||||||||||||
conversion of bridge note into series a convertible preferred stock | ||||||||||||||||||||||||||
conversion of safe notes into common stock | ||||||||||||||||||||||||||
conversion of safe notes into series a convertible preferred stock | ||||||||||||||||||||||||||
assets acquired on capital leases | ||||||||||||||||||||||||||
changes in state franchise tax accrual | 10,000 | -30,000 | -150,000 | |||||||||||||||||||||||
changes in prepaid assets and deferred costs | 48,040 | 47,700 | -18,801 | |||||||||||||||||||||||
changes in deferred offering costs | ||||||||||||||||||||||||||
changes in accrued expenses, formation and offering costs | 2,850,008 | 7,703 | 24,982 | |||||||||||||||||||||||
changes in current income tax and interest payable | -61,650 | |||||||||||||||||||||||||
changes in deferred income tax | 15,079 | -12,471 | -255 | |||||||||||||||||||||||
cash deposited in trust account | ||||||||||||||||||||||||||
interest reinvested in trust account | 672,417 | 1,301,002 | -1,263,655 | |||||||||||||||||||||||
proceeds from sale of units in initial public offering | ||||||||||||||||||||||||||
proceeds from sale of private placement warrants to sponsor | ||||||||||||||||||||||||||
repayment of notes and advances payable – related party | ||||||||||||||||||||||||||
payment of underwriters’ discounts and commissions | ||||||||||||||||||||||||||
payment of accrued offering costs | ||||||||||||||||||||||||||
increase in cash | -492,521 | 34,254 | -388,099 | |||||||||||||||||||||||
cash at beginning of period | 0 | 0 | 1,365,240 | |||||||||||||||||||||||
cash at end of period | -492,521 | 34,254 | 977,141 | |||||||||||||||||||||||
supplemental disclosure of cash and non-cash financing activities: | ||||||||||||||||||||||||||
deferred underwriting compensation | ||||||||||||||||||||||||||
cash paid for income and state franchise taxes | 40,000 | 1,219,086 | 200,050 | |||||||||||||||||||||||
accrued expenses, formation, and offering costs | ||||||||||||||||||||||||||
changes in current income tax and interest | 250,750 | |||||||||||||||||||||||||
basic and diluted net income/(loss) per share: | ||||||||||||||||||||||||||
numerator: | ||||||||||||||||||||||||||
allocation of net income/ | 867,835 | -360,272 | 942,603 | 1,044,989 | ||||||||||||||||||||||
denominator: | ||||||||||||||||||||||||||
weighted-average shares outstanding | 40,000,000 | 0 | 1,555,599,999,340,312 | 2,444,400,010,659,688 | ||||||||||||||||||||||
basic and diluted net income/(loss) per share | 0.02 | -0.01 | 0.01 | 0.04 | ||||||||||||||||||||||
changes in prepaid assets | ||||||||||||||||||||||||||
changes in current income tax | ||||||||||||||||||||||||||
proceeds from notes and advances payable - related party | ||||||||||||||||||||||||||
proceeds from sale of class f common stock to sponsor | ||||||||||||||||||||||||||
payment of underwriter's discounts and commissions | ||||||||||||||||||||||||||
supplemental disclosure of non-cash financing activities: |