| MATTERPORT, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| FOR THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020 | |||||||
|
(unaudited)
(In thousands) | |||||||
| Six Months Ended June 30, | |||||||
| 2021 | 2020 | ||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES
| |||||||
| Net Loss | $ | (9,081 | ) | $ | (11,798 | ) | |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 2,608 | 2,349 | |||||
| Amortization of debt discount | 135 | 108 | |||||
| Stock-based compensation, net of amounts capitalized | 1,259 | 1,164 | |||||
| Loss on extinguishment of debt and convertible notes | - | 954 | |||||
| Allowance for doubtful accounts | 151 | 241 | |||||
| Loss on disposal of property, plant, and equipment | 7 | - | |||||
| Other | 43 | 9 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (2,918 | ) | (4,421 | ) | |||
| Inventories | 1,024 | 248 | |||||
| Prepaid expenses and other assets | (1,269 | ) | (673 | ) | |||
| Accounts payable | 1,466 | 2,980 | |||||
| Deferred revenue | 3,024 | 3,054 | |||||
| Other liabilities | 920 | 2,808 | |||||
| Net cash used in operating activities | (2,631 | ) | (2,977 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (326 | ) | (20 | ) | |||
| Capitalized software and development costs | (3,256 | ) | (2,454 | ) | |||
| Investment in convertible notes | (1,000 | ) | - | ||||
| Net cash used in investing activities | (4,582 | ) | (2,474 | ) | |||
| CASH FLOW FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | - | 43,689 | |||||
| Proceeds from exercise of stock options | 1,342 | 51 | |||||
| Proceeds from debt | - | 5,302 | |||||
| Proceeds from convertible notes, net of issuance costs | - | 8,457 | |||||
| Repayment of debt | (2,390 | ) | (5,922 | ) | |||
| Payment of deferred transaction costs | (1,204 | ) | - | ||||
| Other | - | (81 | ) | ||||
| Net cash (used in) provided by financing activities | (2,252 | ) | 51,496 | ||||
| Net change in cash, cash equivalents, and restricted cash | (9,465 | ) | 46,045 | ||||
| Effect of exchange rate changes on cash | (104 | ) | (130 | ) | |||
| Cash, cash equivalents, and restricted cash at beginning of year | 52,250 | 10,152 | |||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 42,681 | $ | 56,067 | |||
Matterport Announces Record Second Quarter 2021 Financial Results
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