|
SHAPEWAYS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands, except share and per share amounts) | |||||||
| Nine Months Ended September 30, | |||||||
| 2023 | 2022 | ||||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (33,377 | ) | $ | (13,261 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 1,467 | 1,032 | |||||
| Loss from impairment on assets held for sale | 9,680 | — | |||||
| Write-off of prepaid services | 3,196 | — | |||||
| Write-off of intangible assets | 481 | — | |||||
| Loss on disposal of assets | 85 | — | |||||
| Stock-based compensation expense | 1,884 | 1,519 | |||||
| Non-cash lease expense | 749 | 687 | |||||
| Deferred income taxes | 56 | — | |||||
| Interest receivable on short-term investments | (611 | ) | — | ||||
| Change in fair value of earnout liability | — | (1,784 | ) | ||||
| Change in fair value of warrant liabilities | — | (1,558 | ) | ||||
| Change in operating assets and liabilities: | |||||||
| Accounts receivable | (2,226 | ) | 710 | ||||
| Inventory | (662 | ) | (152 | ) | |||
| Prepaid expenses and other assets | (89 | ) | (1,335 | ) | |||
| Accounts payable | (425 | ) | (396 | ) | |||
| Accrued expenses and other liabilities | (1,794 | ) | 713 | ||||
| Operating lease liabilities | (721 | ) | (732 | ) | |||
| Deferred revenue | 866 | (458 | ) | ||||
| Net cash used in operating activities | (21,441 | ) | (15,015 | ) | |||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (2,796 | ) | (9,043 | ) | |||
| Purchase of short-term investments | (9,769 | ) | — | ||||
| Proceeds from settlement of short-term investments | 20,000 | — | |||||
| Cash paid for acquisitions, net of cash acquired | — | (8,861 | ) | ||||
| Net cash provided by (used in) investing activities | 7,435 | (17,904 | ) | ||||
| Cash flows from financing activities: | |||||||
| Proceeds received from other finance obligations | 993 | — | |||||
| Principal payments on finance leases | (45 | ) | — | ||||
| Payments on other finance obligations | (17 | ) | — | ||||
| Payments of taxes on restricted stock units withheld for employee taxes | (169 | ) | — | ||||
| Proceeds from issuance of common stock | 118 | 289 | |||||
| Net cash provided by financing activities | 880 | 289 | |||||
| Net change in cash and cash equivalents and restricted cash | (13,126 | ) | (32,630 | ) | |||
| Effect of change in foreign currency exchange rates on cash and cash equivalents and | 13 | (112 | ) | ||||
| Cash and cash equivalents and restricted cash at beginning of period | 30,769 | 79,819 | |||||
| Cash and cash equivalents and restricted cash at end of period | $ | 17,656 | $ | 47,077 | |||
| Supplemental disclosure of cash and non-cash transactions: | |||||||
| Cash paid for interest | $ | 87 | $ | — | |||
| Purchase of property and equipment included in accounts payable | $ | 39 | $ | — | |||
| Issuance of common stock upon settlement of earnout consideration liability | $ | 537 | $ | — | |||
