v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (29,155,787) $ (24,999,037)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,960,844 640,362
Change in fair value of 2024 Notes and 2024 Warrants 7,205,039 0
Deferred revenue (24,750) (232,001)
Stock-based compensation 3,370,204 3,024,389
Change in inventory and prepaid purchases reserve 2,074,785 149,496
Change in fair value and gain on conversion of note and exchange of 2023 Warrants (2,937,925) 0
Other non-cash items 111,363 221,262
Effects of changes in operating assets and liabilities:    
Accounts receivable 2,702,322 120,273
Inventory, net (6,470,772) (13,320,359)
Prepaid expenses and other current assets (36,216) (749,125)
Accounts payable, accrued liabilities and other 4,540,735 2,536,424
Warranty liability (1,303,420) (141,086)
Net cash used in operating activities (17,963,578) (32,749,402)
Cash flows from investing activities:    
Capital expenditures (3,025,775) (5,404,727)
Net cash used in investing activities (3,025,775) (5,404,727)
Cash flows from financing activities:    
Net payments on convertible notes (12,125,000) 0
Proceeds from issuance of common stock 4,366,649 18,592,188
Payments on finance lease (206,265) (219,861)
Exercise of options and restricted share award activity (163,516) (383,923)
Net cash provided by (used in) financing activities (8,128,132) 17,988,404
Change in cash and cash equivalents (29,117,485) (20,165,725)
Cash and cash equivalents, beginning of the period 35,845,915 99,276,301
Cash and cash equivalents, end of the period $ 6,728,430 $ 79,110,576

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