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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:    
Net loss $ (15,567) $ (77,358)
Adjustments to reconcile net loss to net cash used in operating activities, net of acquisitions:    
Depreciation and amortization 17,451 11,089
Stock-based compensation expense 16,160 47,796
Impairment of long-lived assets 0 2,529
Amortization of debt issuance costs 943 968
Loss on disposal of fixed assets 386 1,183
Change in fair value of Warrants (4,530) (267)
Change in fair value of embedded derivative (885) (155)
Change in fair value of freestanding derivative 0 51
Change in fair value of earnout consideration (393) 167
Realized gain on investments in marketable securities (16) (794)
Deferred tax benefit (1,142) (342)
Changes in operating assets and liabilities, net:    
Accounts receivable (2,133) (1,085)
Aircraft support parts (104) 1,273
Prepaid expense and other current and noncurrent assets 2,286 (2,381)
Accounts payable, accrued expenses and other liabilities [1] (3,101) (9,482)
Net cash provided by (used in) operating activities 9,355 (26,808)
Cash Flows from Investing Activities:    
Proceeds from sales and maturities of marketable securities 1,055 55,406
Purchases of marketable securities 0 (999)
Investment in equity securities 0 (4,000)
Purchases of property, plant and equipment (4,084) (20,738)
Sale of property, plant and equipment 649 817
Expenditures for capitalized software (1,156) (328)
Issuance of note receivable 0 (3,000)
Collection of note receivable 3,000 0
Cash acquired through acquisition 2,592 0
Net cash provided by investing activities 2,056 27,158
Cash Flows from Financing Activities:    
Costs incurred related to the Closing 0 (6,794)
Proceeds from the Closing 0 3,194
Repayments on debt (2,988) (2,201)
Payment of finance lease liability (26) (30)
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
Restricted stock units settled in cash (644) 0
Net cash provided by (used in) financing activities 4,673 (5,831)
Effects of exchange rate changes 62 (42)
Net change in cash, cash equivalents and restricted cash 16,146 (5,523)
Cash, cash equivalents and restricted cash – beginning of the year 36,937 42,460
Cash, cash equivalents and restricted cash – end of the year 53,083 36,937
Less: Restricted cash – end of the year 13,747 13,981
Cash and cash equivalents – end of the year $ 39,336 $ 22,956
[1] Includes related party accounts payable of $0.1 million for the years ended December 31, 2024 and 2023.

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