Embark Technology, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 3 months to Dec 31, 2020
Cash flows from operating activities
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
Right-of-use asset amortization
Stock-based compensation, net of amounts capitalized
Change in fair value of warrants
Net amortization of premiums and accretion of discounts on investments
Amortization of debt discount
Change in fair value of derivative liability
Loss of sale of property, plant and equipment
Issuance of common stock for services
Changes in operating assets and liabilities:
Accrued expenses
Prepaid expenses and other current assets
Other assets
Accounts payable
Other long-term liabilities
Operating lease liabilities
Accrued expenses and other current liabilities
Net cash used in operating activities
Cash flows from investing activities
Proceeds from promissory note — related party
Payment of offering costs
Maturities of investments
Purchase of property, equipment and software
Proceeds from sale of property, plant and equipment
Deposit for purchase of trucks
Refund of deposit for trucks
Net cash provided by (used in) investing activities
Cash flows from financing activities
Cash proceeds received from convertible note payable
Proceeds from NGA recapitalization
Transaction costs related to merger with NGA
Payment towards notes payable
Proceeds from exercise of stock options
Repurchase of early exercised options
Net cash provided by financing activities
Net increase (decrease) in cash, cash equivalents and restricted cash
Cash – Beginning
Cash – Ending
Cash, cash equivalents and restricted cash at beginning of period
Cash, cash equivalents and restricted cash at end of period
Supplemental disclosures of cash flow information:
Cash paid during the year for interest
Supplemental schedule of noncash investing and financing activities
Deferred offering costs included in accrued offering costs
Deferred offering costs paid by Sponsor in exchange for the issuance of common stock
Convertible notes converted into shares of Class A common stock upon consummation of Business Combination
Derivative liability converted into shares of Class A common stock upon consummation of Business Combination
Warrants converted into shares of Class A common stock upon consummation of Business Combination
Right-of-use assets obtained in exchange for lease obligations
Issuance of common stock for services
Acquisition of property, equipment and software in accounts payable
Acquisition of trucks by assuming notes payable
Stock-based compensation capitalized into internally developed software
Vesting of early exercised stock options

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