(In thousands)
| Six Months Ended June 30, | ||||||||
| 2022 | 2021 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (36,544 | ) | $ | (22,765 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 3,807 | 1,487 | ||||||
| Impairment of long-lived assets | 119 | - | ||||||
| Reduction in carrying amount of right-of-use asset | 3,540 | 543 | ||||||
| Stock based compensation | 8,935 | 2,480 | ||||||
| Non-cash interest expense | - | 111 | ||||||
| Revaluation of contingent consideration | 434 | - | ||||||
| Income from unconsolidated joint venture | (103 | ) | - | |||||
| Donation of common stock | 1,285 | - | ||||||
| Unrealized loss on marketable securities | 1,190 | - | ||||||
| Non-cash income tax benefit | (559 | ) | - | |||||
| Loss on sale of property and equipment | 71 | - | ||||||
| Amortization of deferred costs on convertible notes | 781 | - | ||||||
| Deferred taxes benefit | (2 | ) | - | |||||
| Changes in other assets and liabilities: | ||||||||
| Accounts receivable, net | (11,833 | ) | (6,874 | ) | ||||
| Inventory | 272 | 778 | ||||||
| Prepaid expenses | (1,649 | ) | (5,270 | ) | ||||
| Other assets | (3,861 | ) | 500 | |||||
| Accounts payable | 1,873 | 7,522 | ||||||
| Accrued expenses | (2,041 | ) | (453 | ) | ||||
| Contract liabilities | 2,862 | 1,915 | ||||||
| Lease liabilities | (2,773 | ) | (534 | ) | ||||
| Net cash used in operating activities | (34,196 | ) | (20,560 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchase of marketable securities | (280,559 | ) | - | |||||
| Proceeds from sale of marketable securities | 4 | - | ||||||
| Purchases of property and equipment | (5,436 | ) | (2,748 | ) | ||||
| Proceeds from sale of property and equipment | 165 | - | ||||||
| Net cash used in investing activities | (285,826 | ) | (2,748 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Payments in connection with initial public offering | - | (524 | ) | |||||
| Proceeds from stock options exercised | 2,470 | 1,332 | ||||||
| Proceeds from issuance of convertible notes | 287,500 | - | ||||||
| Costs incurred in connection with issuance of convertible notes | (9,309 | ) | - | |||||
| Payments on finance lease obligations | (2 | ) | (6 | ) | ||||
| Net cash provided by financing activities | 280,659 | 802 | ||||||
| Effect of foreign currency translation on cash and cash equivalents | (66 | ) | (17 | ) | ||||
| Net decrease in cash and cash equivalents | (39,429 | ) | (22,523 | ) | ||||
| Cash and cash equivalents at beginning of the period | 86,262 | 59,874 | ||||||
| Cash and cash equivalents at end of the period | $ | 46,833 | $ | 37,351 | ||||
| Supplemental cash flow information: | ||||||||
| Cash paid for interest | $ | - | $ | 659 | ||||
| Non-cash investing activity: | ||||||||
| Non-cash purchase of property and equipment | - | (150 | ) | |||||
| Non-cash financing activity: | ||||||||
| Non-cash amounts incurred in connection with initial public offering | - | (25,938 | ) | |||||
Xometry, Inc. and Subsidiaries
