beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue	$ 2,099	$ 0
Costs and expenses:
Cost of revenue (excluding depreciation and amortization)	1,040	143
Research and development	20,228	10,157
Sales and marketing	3,233	486
General and administrative	13,737	3,547
Depreciation and amortization	2,548	1,400
Total operating costs and expenses	40,786	15,733
Loss from operations	(38,687)	(15,733)
Other income (expenses):
Change in fair value of warrant liabilities	(63,332)	0
Offering costs associated with warrants	(4,259)	0
Other income (expense), net	92	309
Loss before benefit for income taxes	(106,186)	(15,424)
Benefit for income taxes	0	0
Net loss	$ (106,186)	$ (15,424)
Net loss per share attributable to common stockholders—basic and diluted	$ (0.77)	$ (0.13)
Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted	137,609,620	115,045,097

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (106,186)	$ (15,424)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,548	1,400
Non-cash research and development arrangements	1,335	0
Amortization of customer warrant	528	38
Offering costs associated with warrants	4,259	0
Stock-based compensation	7,748	1,224
Change in fair value of warrant liabilities	63,332	0
Other, net	101	77
Changes in operating assets and liabilities:
Accounts receivable	(317)	(290)
Prepaid expenses and other current assets	(3,790)	(699)
Other noncurrent assets	(1,678)	(11)
Accounts payable	763	96
Accrued expenses	1,259	374
Operating lease liabilities	(44)	(150)
Unearned revenue	3,605	1,358
Net cash used in operating activities	(26,537)	(12,007)
Cash flows from investing activities
Purchases of property and equipment	(7,783)	(10,032)
Capitalized software development costs	(1,621)	(1,131)
Purchases of available-for-sale securities	(203,761)	0
Intangible asset acquisition costs	(620)	(513)
Net cash used in investing activities	(213,785)	(11,676)
Cash flows from financing activities:
Proceeds from stock options exercised	5,457	276
Repurchase of early exercised stock options	(968)	0
Proceeds from public warrants exercised	26,070	0
Proceeds from merger and PIPE transaction, net of transaction costs	572,668	0
Net cash provided by financing activities	603,227	276
Net change in cash and cash equivalents	362,905	(23,407)
Cash and cash equivalents at the beginning of the period	36,120	59,527
Cash and cash equivalents at the end of the period	399,025	36,120
Supplemental disclosure of noncash activities:
Issuance of common stock for intellectual property	1,567	0
Issuance of common stock for research and development arrangement	814	2,903
Property and equipment purchases in accounts payable and accrued expenses	553	0
Intangible asset purchases in accounts payable and accrued expenses	83	0
Noncash reclassification of warrant liabilities to equity upon exercise	79,719	0
Vesting of customer warrants	$ 0	$ 566

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 399,025	$ 36,120
Short-term investments	123,443	0
Accounts receivable	707	390
Prepaid expenses and other current assets	6,442	2,069
Total current assets	529,617	38,579
Long-term Investments	80,110	0
Property and equipment, net	18,870	11,988
Operating lease right-of-use assets	4,032	4,296
Intangible assets, net	5,841	2,687
Other noncurrent assets	3,558	2,928
Total Assets	642,028	60,478
Current liabilities:
Accounts payable	1,882	538
Accrued expenses	2,647	608
Current portion of operating lease liabilities	568	495
Unearned revenue	3,430	240
Current portion of stock option early exercise liabilities	1,164	0
Total current liabilities	9,691	1,881
Operating lease liabilities, net of current portion	3,643	3,776
Unearned revenue, net of current portion	1,533	1,118
Stock option early exercise liabilities, net of current portion	1,969	0
Warrant liabilities	33,962	0
Total liabilities	50,798	6,775
Commitments and Contingencies
Stockholders' Equity :
Common stock, value	19	3
Additional paid-in capital	737,150	93,305
Accumulated deficit	(145,791)	(39,605)
Accumulated other comprehensive income (loss)	(148)	0
Total stockholders' equity (deficit)	591,230	53,703
Total Liabilities, Convertible Redeemable Preferred Stock and Warrants, and Stockholders' Equity	642,028	60,478
Series A Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	0	0
Series B Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	0	0
Series B1 Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	0	0
Warrants for Series B-1 convertible redeemable preferred stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Warrants for Series B-1 convertible redeemable preferred stock	$ 0	$ 0