SHAPEWAYS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands, except share and per share amounts)
|
Six Months Ended June 30, |
||||
|
|
2023 |
|
|
2022 |
Cash flows from operating activities: |
|
|
|
||
Net loss |
$ |
(14,184) |
|
$ |
(8,711) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
||
Depreciation and amortization |
|
972 |
|
|
559 |
Loss on disposal of assets |
|
85 |
|
|
— |
Stock-based compensation expense |
|
1,281 |
|
|
769 |
Non-cash lease expense |
|
500 |
|
|
354 |
Deferred income taxes |
|
37 |
|
|
— |
Interest receivable on short-term investments |
|
(530) |
|
|
— |
Change in fair value of warrant liabilities |
|
— |
|
|
(1,527) |
Change in operating assets and liabilities: |
|
|
|
||
Accounts receivable |
|
(1,577) |
|
|
(298) |
Inventory |
|
(471) |
|
|
(47) |
Prepaid expenses and other assets |
|
12 |
|
|
(2,239) |
Accounts payable |
|
80 |
|
|
(600) |
Accrued expenses and other liabilities |
|
(1,457) |
|
|
358 |
| Operating lease liabilities |
|
(480) |
|
|
(411) |
| Deferred revenue |
|
866 |
|
|
(373) |
| Net cash used in operating activities |
|
(14,866) |
|
|
(12,166) |
| Cash flows from investing activities: |
|
|
|
||
| Purchases of property and equipment |
|
(1,686) |
|
|
(8,454) |
| Purchase of short-term investments |
|
(9,769) |
|
|
— |
| Proceeds from settlement of short-term investments |
|
10,000 |
|
|
— |
| Cash paid for acquisitions, net of cash acquired |
|
— |
|
|
(8,861) |
| Net cash used in investing activities |
|
(1,455) |
|
|
(17,315) |
| Cash flows from financing activities: |
|
|
|
||
| Proceeds received from other finance obligations |
|
493 |
|
|
— |
| Principal payments on finance leases |
|
(27) |
|
|
— |
| Payments on other finance obligations |
|
(13) |
|
|
— |
| Payments of taxes on restricted stock units withheld for employee taxes |
|
(111) |
|
|
— |
| Proceeds from issuance of common stock |
|
— |
|
|
288 |
| Net cash provided by financing activities |
|
342 |
|
|
288 |
| Net change in cash and cash equivalents and restricted cash |
|
(15,979) |
|
|
(29,193) |
| Effect of change in foreign currency exchange rates on cash and cash equivalents and restricted cash |
|
14 |
|
|
(86) |
| Cash and cash equivalents and restricted cash at beginning of period |
|
30,769 |
|
|
79,819 |
| Cash and cash equivalents and restricted cash at end of period |
$ |
14,804 |
|
$ |
50,540 |
| Supplemental disclosure of cash and non-cash transactions: |
|
|
|
||
| Cash paid for interest |
$ |
52 |
|
$ |
— |
| Purchase of property and equipment included in accounts payable |
$ |
39 |
|
$ |
— |
| Issuance of common stock upon settlement of earnout liability |
$ |
537 |
|
$ |
— |
SHAPEWAYS HOLDINGS, INC.
