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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (30,068) $ (63,707)
Adjustments to reconcile net loss to net cash used in operating activities, net of acquisition:    
Loss on disposal of fixed assets 237 392
Depreciation and amortization 3,288 4,986
Impairment of long-lived assets 0 627
Stock-based compensation expense 10,350 32,046
Deferred tax benefit (490) 0
Change in fair value of the Warrants (2,132) (533)
Change in fair value of freestanding derivative 0 51
Amortization of debt issuance costs 442 484
Change in fair value of embedded derivative (885) (224)
Change in fair value of earnout consideration 207 0
Realized gain on investments in marketable securities (16) (408)
Changes in operating assets and liabilities    
Accounts and note receivable [1] (5,893) (11,787)
Aircraft support parts 11 1,326
Prepaid expense and other current and noncurrent assets 1,245 (3,339)
Accounts payable, accrued expenses and other liabilities [2] 1,146 (13,359)
Net cash used in operating activities (22,558) (53,445)
Cash Flows from Investing Activities:    
Proceeds from sales and maturities of marketable securities 1,055 42,724
Purchases of property, plant and equipment (1,948) (12,528)
Expenditures for capitalized software (756) 0
Investments in construction in progress – leasehold improvements 0 (2,445)
Sale of property, plant and equipment 505 814
Cash acquired through acquisition 2,592 0
Net cash provided by investing activities 1,448 28,565
Cash Flows from Financing Activities:    
Repayments on debt (1,466) (880)
Payment of issuance costs for Common Stock in offerings (674) 0
Proceeds from issuance of Common Stock in the at-the-market offering 168 0
Proceeds from issuance of Common Stock in the registered direct offering 9,169 0
Payment of finance lease liability (13) (16)
Costs incurred related to the Closing 0 (6,794)
Proceeds from the Closing 0 3,194
Restricted stock units settled in cash (466) 0
Net cash provided by (used in) financing activities 6,718 (4,496)
Effects of exchange rate changes 0 1
Net change in cash, cash equivalents and restricted cash (14,392) (29,375)
Cash, cash equivalents and restricted cash – beginning of the period 36,937 42,460
Cash, cash equivalents and restricted cash – end of the period 22,545 13,085
Less: Restricted cash – end of the period 14,019 12,240
Cash and cash equivalents – end of the period $ 8,526 $ 845
[1] Includes related party accounts receivable of $0.4 million for the six months ended June 30, 2023.
[2] Includes related party accounts payable of $0.1 million for the six months ended June 30, 2024.

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