COMPASS Pathways plc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
CMPS$9.25+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(118,464) | $(91,505) | $(71,742) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 242 | 330 | 175 |
| Non-cash interest | 636 | — | — |
| Loss on disposal of property and equipment | 40 | — | — |
| Non-cash (gain) loss on foreign currency remeasurement | (2,617) | 1,141 | 22 |
| Non-cash share-based compensation | 17,277 | 13,123 | 8,639 |
| Non-cash lease expenses | 2,027 | 2,126 | 1,797 |
| Changes in operating assets and liabilities | |||
| Prepaid expenses and other current assets | 10,458 | (28,760) | (8,984) |
| Deferred and prepaid tax assets | (1,661) | (1,701) | (877) |
| Long-term prepaid expenses and other assets | (5,842) | (307) | (160) |
| Operating lease liabilities | (1,959) | (2,081) | (1,880) |
| Accounts payable | 864 | 2,497 | (163) |
| Accrued expenses and other liabilities | 1,623 | (314) | 5,428 |
| Net cash used in operating activities | (97,376) | (105,451) | (67,745) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property and equipment | (66) | (596) | (334) |
| Proceeds from disposal of property and equipment | 2 | — | — |
| Net cash used in investing activities | (64) | (596) | (334) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of ordinary shares, net of issuance costs | 144,935 | 440 | 154,794 |
| Proceeds from the issuance of shares under the employee share purchase plan | 351 | 199 | — |
| Payments of withholding tax on stock award | (265) | — | — |
| Net proceeds from issuance of long-term debt | 29,585 | — | — |
| Payment of issuance cost of long-term debt | (778) | — | — |
| Proceeds from exercise of share options | 2 | 401 | 1,852 |
| Net cash provided by financing activities | 173,830 | 1,040 | 156,646 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 867 | (24,959) | (5,576) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 77,257 | (129,966) | 82,991 |
| Cash, cash equivalents and restricted cash, beginning of the period | 143,381 | 273,347 | 190,356 |
| Cash, cash equivalents and restricted cash, end of the period | $220,638 | $143,381 | $273,347 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid for interest | $1,254 | $— | $— |
| SUPPLEMENTAL NON-CASH TRANSACTIONS: | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $4,184 | $783 | $5,562 |
| Unpaid withholding tax on stock award recognized in accrued and other liabilities | $— | $85 | $— |
| Proceeds from exercise of options received and recorded in other current assets | $— | $— | $53 |
| Deferred issuance costs included in accrued expenses | $— | $— | $856 |
| Issuance of warrants together with long-term debt | $687 | $— | $— |
| Issuance of warrants together with issuance of ordinary shares | $2,011 | $— | $— |
The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances as of each of the periods, shown above:
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash and cash equivalents | $220,198 | $143,206 | $273,243 |
| Short-term restricted cash | 440 | 175 | 104 |
| Total cash, cash equivalents and restricted cash | $220,638 | $143,381 | $273,347 |
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