v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net income (loss) $ (2,722) $ (46,219)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities, net of acquisition:    
Loss on disposal of fixed assets 251 423
Depreciation and amortization 14,759 10,234
Impairment of long-lived assets 0 627
Stock-based compensation expense 13,719 38,651
Deferred tax benefit (490) 0
Change in fair value of the Warrants (3,997) 1,865
Change in fair value of freestanding derivative 0 51
Amortization of debt issuance costs 692 726
Change in fair value of embedded derivative (885) (45)
Change in fair value of earnout consideration 479 0
Realized gain on investments in marketable securities (16) (562)
Changes in operating assets and liabilities    
Accounts and note receivable (20,453) (25,373)
Aircraft support parts (46) 1,273
Prepaid expense and other current and noncurrent assets 1,303 (4,058)
Accounts payable, accrued expenses and other liabilities [1] (2,428) (19,084)
Net cash provided by (used in) operating activities 166 (41,491)
Cash Flows from Investing Activities:    
Proceeds from sales and maturities of marketable securities 1,055 53,089
Purchases of property, plant and equipment (3,099) (18,054)
Expenditures for capitalized software (973) 0
Sale of property, plant and equipment 505 817
Cash acquired through acquisition 2,592 0
Net cash provided by investing activities 80 35,852
Cash Flows from Financing Activities:    
Repayments on debt (2,210) (1,482)
Payment of issuance costs for Common Stock in offerings (1,006) 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 (20) (23)
Costs incurred related to the Closing 0 (6,794)
Proceeds from the Closing 0 3,194
Restricted stock units settled in cash (694) 0
Net cash provided by (used in) financing activities 5,407 (5,105)
Effects of exchange rate changes 0 (44)
Net change in cash, cash equivalents and restricted cash 5,653 (10,788)
Cash, cash equivalents and restricted cash – beginning of the period 36,937 42,460
Cash, cash equivalents and restricted cash – end of the period 42,590 31,672
Less: Restricted cash – end of the period 9,262 12,293
Cash and cash equivalents – end of the period $ 33,328 $ 19,379
[1] Includes related party accounts payable of $0.3 million for the nine months ended September 30, 2024.

Source

HTML PDF
XBRL
ZIP