Xometry, Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands)
|
Nine Months Ended
September 30, |
||||||||
| 2021 | 2020 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (37,476 | ) | $ | (20,909 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 2,304 | 2,256 | ||||||
| Reduction in carrying amount of right-of-use asset | 912 | 770 | ||||||
| Stock based compensation | 4,747 | 679 | ||||||
| Non-cash interest expense | 111 | 238 | ||||||
| Loss on debt extinguishment | 272 | - | ||||||
| Donation of common stock | 1,157 | - | ||||||
| Unrealized loss on marketable securities | 239 | - | ||||||
| Changes in other assets and liabilities: | ||||||||
| Accounts receivable, net | (10,645 | ) | (4,381 | ) | ||||
| Inventory | 842 | (618 | ) | |||||
| Prepaid expenses | (4,080 | ) | 88 | |||||
| Other assets | 580 | (544 | ) | |||||
| Accounts payable | (400 | ) | (3,142 | ) | ||||
| Accrued expenses | 3,931 | 8,100 | ||||||
| Contract liabilities | 1,053 | 1,038 | ||||||
| Lease liabilities | (917 | ) | (720 | ) | ||||
| Net cash used in operating activities | (37,370 | ) | (17,145 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchase of marketable securities | (266,978 | ) | - | |||||
| Purchase of short-term investments | - | (17,711 | ) | |||||
| Proceeds from short-term investments | - | 28,571 | ||||||
| Purchases of property and equipment | (4,625 | ) | (2,888 | ) | ||||
| Net cash (used in) provided by investing activities | (271,603 | ) | 7,972 | |||||
| Cash flows from financing activities: | ||||||||
| Proceeds from issuance of Series A-2, Series B, Series C, Series D and Series E convertible preferred stock, net of issuance costs | - | 52,409 | ||||||
| Repurchase of Series A-2, Series B, Series C and Series D convertible preferred stock | - | (12,852 | ) | |||||
| Deemed dividend to preferred stockholders | - | (8,801 | ) | |||||
| Proceeds from initial public offering, net of underwriters' discount | 325,263 | - | ||||||
| Payments in connection with initial public offering | (3,995 | ) | - | |||||
| Proceeds from stock options exercised | 1,787 | 405 | ||||||
| Proceeds from term loan | - | 4,000 | ||||||
| Repayment of term loan | (16,136 | ) | - | |||||
| Proceeds from other borrowings | - | 4,783 | ||||||
| Repayment of other borrowings | - | (4,783 | ) | |||||
| Payments on finance lease obligations | (9 | ) | (9 | ) | ||||
| Net cash provided by financing activities | 306,910 | 35,152 | ||||||
| Effect of foreign currency translation on cash and cash equivalents | (33 | ) | (9 | ) | ||||
| Net (decrease) increase in cash and cash equivalents | (2,096 | ) | 25,970 | |||||
| Cash and cash equivalents at beginning of period | 59,874 | 40,122 | ||||||
| Cash and cash equivalents at end of period | $ | 57,778 | $ | 66,092 | ||||
| Supplemental cash flow information: | ||||||||
| Cash paid for interest | $ | 907 | $ | 970 | ||||
| Non-cash investing activity: | ||||||||
| Non-cash purchase of property and equipment | $ | (19 | ) | $ | - | |||
