TuSimple (TSPH) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40326
Entity Registrant Name	TuSimple Holdings Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-2341575
Entity Address, Address Line One	9191 Towne Centre Drive
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92122
City Area Code	619
Local Phone Number	916-3144
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	TSP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001823593
Current Fiscal Year End Date	--12-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		200,486,658
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		24,000,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,156,418	$ 1,337,586
Accounts receivable, net	2,700	1,599
Prepaid expenses and other current assets	22,110	13,995
Total current assets	1,181,228	1,353,180
Property and equipment, net	31,405	36,053
Operating lease right-of-use assets	41,641	0
Other assets	4,478	7,090
Total assets	1,258,752	1,396,323
Current liabilities:
Accounts payable	3,733	4,544
Amounts due to joint development partners	5,129	7,394
Accrued expenses and other current liabilities	34,529	41,698
Short-term debt	1,583	1,524
Capital lease liabilities, current	0	766
Operating lease liabilities, current	2,905	0
Total current liabilities	47,879	55,926
Capital lease liabilities, noncurrent	0	2,872
Operating lease liabilities, noncurrent	41,156	0
Long-term debt	4,495	5,543
Other liabilities	4,127	5,004
Total liabilities	97,657	69,345
Commitments and contingencies (Note 4)
Stockholders' equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of December 31, 2021 and June 30, 2022; zero shares issued and outstanding as of December 31, 2021 and June 30, 2022	0	0
Common stock, $0.0001 par value; 4,876,000,000 Class A shares authorized as of December 31, 2021 and June 30, 2022; 197,833,195 and — Class A shares issued and outstanding as of December 31, 2021 and June 30, 2022, respectively; 24,000,000 Class B shares authorized as of December 31, 2021 and June 30, 2022; 24,000,000 Class B shares issued and outstanding as of December 31, 2021 and June 30, 2022	22	22
Additional paid-in-capital	2,520,300	2,464,730
Accumulated other comprehensive income (loss)	(1,069)	77
Accumulated deficit	(1,358,158)	(1,137,851)
Total stockholders’ equity	1,161,095	1,326,978
Total liabilities and stockholders’ equity	$ 1,258,752	$ 1,396,323

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred Stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Class A
Common stock, shares authorized (in shares)	4,876,000,000	4,876,000,000
Common stock, shares issued (in shares)	200,192,530	197,833,195
Common stock, shares outstanding (in shares)	200,192,530	197,833,195
Common Class B
Common stock, shares authorized (in shares)	24,000,000	24,000,000
Common stock, shares issued (in shares)	24,000,000	24,000,000
Common stock, shares outstanding (in shares)	24,000,000	24,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 2,594	$ 1,482	$ 4,858	$ 2,426
Cost of revenue	5,767	2,982	9,856	5,228
Gross loss	(3,173)	(1,500)	(4,998)	(2,802)
Operating expenses:
Research and development	85,519	75,891	163,677	117,325
Selling, general and administrative	22,017	43,466	54,232	59,368
Total operating expenses	107,536	119,357	217,909	176,693
Loss from operations	(110,709)	(120,857)	(222,907)	(179,495)
Change in fair value of warrants liability	0	0	0	(326,900)
Gain on loan extinguishment	0	4,183	0	4,183
Other income, net	2,114	145	2,409	523
Loss before provision for income taxes	(108,595)	(116,529)	(220,498)	(501,689)
Provision for income taxes	0	0	0	0
Net loss	(108,595)	(116,529)	(220,498)	(501,689)
Accretion of redeemable convertible preferred stock	0	0	0	(4,135)
Net loss attributable to common stockholders	$ (108,595)	$ (116,529)	$ (220,498)	$ (505,824)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.49)	$ (0.64)	$ (0.99)	$ (4.15)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.49)	$ (0.64)	$ (0.99)	$ (4.15)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	223,785,825	182,382,800	223,159,618	121,800,404
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	223,785,825	182,382,800	223,159,618	121,800,404

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (108,595)	$ (116,529)	$ (220,498)	$ (501,689)
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,345)	(775)	(1,146)	136
Comprehensive loss	$ (109,940)	$ (117,304)	$ (221,644)	$ (501,553)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Initial Public Offering	Private Placement	Series E Redeemable Convertible Preferred Stock	Series E-2 Redeemable Convertible Preferred Stock	Common Stock	Common Stock Initial Public Offering	Common Stock Private Placement	Additional Paid-in Capital	Additional Paid-in Capital Initial Public Offering	Additional Paid-in Capital Private Placement	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning Balance (in shares) at Dec. 31, 2020	102,074,703
Beginning Balance at Dec. 31, 2020	$ 664,791
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares)					4,650,999
Issuance of redeemable convertible preferred stock, net of issuance costs					$ 61,631
Issuance of redeemable convertible preferred stock from the exercise of warrants (in shares)					9,477,073	4,331,644
Issuance of redeemable convertible preferred stock from the exercise of warrants					$ 379,084	$ 173,275
Accretion of redeemable convertible preferred stock to redemption value	$ 4,135
Ending Balance (in shares) at Mar. 31, 2021	120,534,419
Ending Balance at Mar. 31, 2021	$ 1,282,916
Beginning Balance (in shares) at Dec. 31, 2020							60,543,337
Beginning Balance at Dec. 31, 2020	(405,473)						$ 6			$ 0			$ (301)	$ (405,178)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of options (in shares)							60,616
Issuance of common stock from exercise of options	1									1
Vesting of early exercised stock options	21									21
Accretion of redeemable convertible preferred stock to redemption value	(4,135)									(4,135)
Stock-based compensation	6,289									6,289
Foreign currency translation adjustment	911												911
Net loss	(385,160)													(385,160)
Ending Balance (in shares) at Mar. 31, 2021							60,603,953
Ending Balance at Mar. 31, 2021	$ (787,546)						$ 6			2,176			610	(790,338)
Beginning Balance (in shares) at Dec. 31, 2020	102,074,703
Beginning Balance at Dec. 31, 2020	$ 664,791
Ending Balance (in shares) at Jun. 30, 2021	0
Ending Balance at Jun. 30, 2021	$ 0
Beginning Balance (in shares) at Dec. 31, 2020							60,543,337
Beginning Balance at Dec. 31, 2020	(405,473)						$ 6			0			(301)	(405,178)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	136
Net loss	(501,689)
Ending Balance (in shares) at Jun. 30, 2021							209,040,398
Ending Balance at Jun. 30, 2021	$ 1,492,970						$ 21			2,399,981			(165)	(906,867)
Beginning Balance (in shares) at Dec. 31, 2020	102,074,703
Beginning Balance at Dec. 31, 2020	$ 664,791
Beginning Balance (in shares) at Dec. 31, 2020							60,543,337
Beginning Balance at Dec. 31, 2020	(405,473)						$ 6			0			(301)	(405,178)
Ending Balance (in shares) at Dec. 31, 2021							221,833,195
Ending Balance at Dec. 31, 2021	$ 1,326,978	$ 191					$ 22			2,464,730			77	(1,137,851)	$ 191
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-02 [Member]
Beginning Balance (in shares) at Mar. 31, 2021	120,534,419
Beginning Balance at Mar. 31, 2021	$ 1,282,916
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)			(120,534,419)
Conversion of redeemable convertible preferred stock in connection with initial public offering			$ (1,282,916)
Ending Balance (in shares) at Jun. 30, 2021	0
Ending Balance at Jun. 30, 2021	$ 0
Beginning Balance (in shares) at Mar. 31, 2021							60,603,953
Beginning Balance at Mar. 31, 2021	(787,546)						$ 6			2,176			610	(790,338)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of early exercised stock options	21									21
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)								120,534,419
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering			1,282,916					$ 12			$ 1,282,904
Issuance of common stock (in shares)								27,027,027	874,999
Issuance of common stock			$ 1,027,374	$ 35,000				$ 3			$ 1,027,371	$ 35,000
Stock-based compensation	52,509									52,509
Foreign currency translation adjustment	(775)												(775)
Net loss	(116,529)													(116,529)
Ending Balance (in shares) at Jun. 30, 2021							209,040,398
Ending Balance at Jun. 30, 2021	1,492,970						$ 21			2,399,981			(165)	(906,867)
Beginning Balance (in shares) at Dec. 31, 2021							221,833,195
Beginning Balance at Dec. 31, 2021	1,326,978	191					$ 22			2,464,730			77	(1,137,851)	191
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of options (in shares)							534,019
Issuance of common stock from exercise of options	871									871
Issuance of common stock related to release of RSU and SVAs (in shares)							537,980
Issuance of common stock under the Employee Stock Purchase Plan (in shares)							87,215
Issuance of common stock under the Employee Stock Purchase Plan	1,292									1,292
Vesting of early exercised stock options	21									21
Stock-based compensation	27,527									27,527
Foreign currency translation adjustment	199												199
Net loss	(111,903)													(111,903)
Ending Balance (in shares) at Mar. 31, 2022							222,992,409
Ending Balance at Mar. 31, 2022	1,245,176						$ 22			2,494,441			276	(1,249,563)
Beginning Balance (in shares) at Dec. 31, 2021							221,833,195
Beginning Balance at Dec. 31, 2021	$ 1,326,978	$ 191					$ 22			2,464,730			77	(1,137,851)	$ 191
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)	87,215
Foreign currency translation adjustment	$ (1,146)
Net loss	(220,498)
Ending Balance (in shares) at Jun. 30, 2022							224,192,530
Ending Balance at Jun. 30, 2022	1,161,095						$ 22			2,520,300			(1,069)	(1,358,158)
Beginning Balance (in shares) at Mar. 31, 2022							222,992,409
Beginning Balance at Mar. 31, 2022	1,245,176						$ 22			2,494,441			276	(1,249,563)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of options (in shares)							262,548
Issuance of common stock from exercise of options	687									687
Issuance of common stock related to release of RSU and SVAs (in shares)							937,573
Vesting of early exercised stock options	21									21
Stock-based compensation	25,151									25,151
Foreign currency translation adjustment	(1,345)												(1,345)
Net loss	(108,595)													(108,595)
Ending Balance (in shares) at Jun. 30, 2022							224,192,530
Ending Balance at Jun. 30, 2022	$ 1,161,095						$ 22			$ 2,520,300			$ (1,069)	$ (1,358,158)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (220,498)	$ (501,689)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	52,678	58,798
Depreciation and amortization	5,461	4,409
Change in fair value of warrants liability	0	326,900
Gain on loan extinguishment	0	(4,183)
Other adjustments	81	0
Changes in operating assets and liabilities:
Accounts receivable	(1,203)	(130)
Prepaid expenses and other current assets	(6,380)	(11,995)
Operating lease right-of-use assets	2,608	0
Other assets	2,708	(752)
Accounts payable	549	532
Amounts due to joint development partners	(2,265)	5,299
Accrued expenses and other current liabilities	(8,578)	5,947
Operating lease liabilities	(2,231)	0
Other liabilities	411	1,449
Net cash used in operating activities	(176,659)	(115,415)
Cash flows from investing activities:
Purchases of property and equipment	(5,041)	(5,928)
Purchases of intangible assets	(132)	(179)
Proceeds from disposal of property and equipment	25	100
Net cash used in investing activities	(5,148)	(6,007)
Cash flows from financing activities:
Proceeds from issuance of redeemable convertible preferred stock, net of offering costs	0	54,693
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan	1,292	0
Proceeds from exercise of warrants for redeemable convertible preferred stock	0	183,007
Proceeds from exercised stock options	1,558	253
Proceeds from issuance of common stock upon initial public offering, net of offering costs	0	1,030,965
Proceeds from issuance of common stock related to private placement	0	35,000
Return of guarantee deposit on related party loan	0	3,715
Principal payments on related party loan	0	(4,398)
Payment of third-party costs in connection with initial public offering	0	(2,328)
Principal payments on capital lease obligations	0	(382)
Principal payments on finance lease obligations	(587)	0
Principal payments on loans	(747)	(237)
Net cash provided by financing activities	1,516	1,300,288
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(877)	118
Net increase (decrease) in cash, cash equivalents, and restricted cash	(181,168)	1,178,984
Cash, cash equivalents, and restricted cash - beginning of period	1,339,092	312,351
Cash, cash equivalents, and restricted cash - end of period	1,157,924	1,491,335
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	1,156,418	1,489,829
Restricted cash included in prepaid expenses and other current assets	1,506	1,506
Total cash and cash equivalents, and restricted cash	1,157,924	1,491,335
Supplemental disclosure of cash flow information:
Cash paid for interest	546	386
Supplemental schedule of non-cash investing and financing activities:
Acquisitions of property and equipment included in current liabilities	1,103	1,807
Accretion of redeemable convertible preferred stock	0	4,135
Vesting of early exercised stock options	42	42
Exercise of liability-classified warrants	0	369,352
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	0	1,282,916
Issuance costs incurred in connection with initial public offering included in current liabilities	$ 0	$ 1,263

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business TuSimple Holdings Inc. (“TuSimple” or the “Company”) is principally engaged in the operation and development of autonomous trucks and an autonomous freight network (“AFN”). The Company is headquartered in San Diego, California. Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements (“Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes as of and for the year ended December 31, 2021 , included in the Company's Annual Report on Form 10-K. The condensed consolidated balance sheet as of December 31, 2021, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures required by GAAP. In management’s opinion, the accompanying Financial Statements reflect all normal recurring adjustments necessary for their fair presentation. Other than described below, there have been no changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2021 that have had a material impact on the Company’s Financial Statements. Leases The Company accounts for leases in accordance with Accounting Standards Codification ("ASC") 842, Leases ("ASC 842"), which requires lessees to recognize on-balance sheet and disclose key information about leasing arrangements. The Company adopted ASC 842 along with all applicable ASU clarifications and improvements on January 1, 2022 using the modified retrospective transition method and used the effective date as the date of initial application. Consequently, financial information is not updated and disclosures required under ASC 842 are not provided for periods before January 1, 2022. ASC 842 provides a number of optional practical expedients in transition. The Company elected the "package of practical expedients," which permits the Company not to reassess under ASC 842 its prior conclusions about lease identification, lease classification and initial direct costs. The Company determines if a contract contains a lease based on whether it has the right to obtain substantially all of the economic benefits from the use of an identified asset and whether it has the right to direct the use of an identified asset in exchange for consideration, which relates to an asset which the Company does not own. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are recognized as the lease liability, adjusted for lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate (“IBR”) because the interest rate implicit in most of the Company’s leases is not readily determinable. Lease payments may be fixed or variable, however, only fixed payments or in-substance fixed payments are included in the Company’s lease liability calculation. Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments are incurred. The Company has lease agreements with lease and non-lease components and has elected to utilize the practical expedient to account for lease and non-lease components together as a single combined lease component. Additionally, the Company has determined that certain leases previously identified as build-to-suit leasing arrangements under legacy accounting (ASC 840), were derecognized pursuant to the transition guidance provided for build-to-suit leases in ASC 842. Accordingly, these leases have been reassessed as operating leases as of the adoption date under ASC 842, and are included on the condensed consolidated balance sheet as of June 30, 2022. The Company has leases that include one or more options to extend the lease term for up to five years and some of its leases include options to terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Operating leases are included within operating lease ROU assets, operating lease liabilities, current, and operating lease liabilities, noncurrent on the Company's condensed consolidated balance sheet as of June 30, 2022. Finance leases are included in property and equipment, net, accrued expenses and other current liabilities, and other liabilities on the Company's condensed consolidated balance sheets as of June 30, 2022. The Company has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. Adoption of the new lease standard on January 1, 2022 impacted the interim unaudited condensed consolidated financial statements as follows: (i) recognition of ROU assets of $32.9 million and lease liabilities of $35.1 million for operating leases, (ii) derecognition of build-to-suit lease assets and liabilities of $6.5 million and $4.4 million, respectively, with the net impact of $0.2 million recorded to accumulated deficit as of January 1, 2022, and (iii) reclassification of deferred rent and other liability balances of $2.5 million relating to its existing lease arrangements into the ROU asset balance as of January 1, 2022. The standard did not materially impact the condensed consolidated statement of operations and condensed consolidated statement of cash flows. Reclassifications Certain prior period balances have been reclassified to conform to the current period presentation in the condensed consolidated financial statements and the accompanying notes. Sales and marketing expense and general and administrative expense have been reclassified to selling, general and administrative expense. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases , to require lessees to recognize all leases, with limited exceptions, on the balance sheet, while recognition on the statement of operations will remain similar to legacy lease accounting, ASC 840. Subsequently, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842 , ASU No. 2018-11, Targeted Improvements , ASU No. 2018-20, Narrow-Scope Improvements for Lessors , and ASU 2019-01, Codification Improvements , to clarify and amend the guidance in ASU No. 2016-02. As disclosed above, the Company adopted the ASUs on January 1, 2022 on a modified retrospective basis. Recently Issued Accounting Pronouncements There have been no recent accounting pronouncements since the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, that may have a material impact on the Company's condensed consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation (in thousands): As of December 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,077,550 $ 1,077,550 $ — $ — Total $ 1,077,550 $ 1,077,550 $ — $ — As of June 30, 2022 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 925,228 $ 925,228 $ — $ — Total $ 925,228 $ 925,228 $ — $ — Warrants Liability In February and March 2021, TRATON Group (“TRATON”) and its subsidiary Navistar, Inc. (“Navistar”) exercised warrants to purchase 4,331,644 and 9,477,073 shares of Series E-2 and Series E redeemable convertible preferred stock at an exercise price of $11.31 and $14.14, resulting in proceeds of $49.0 million and $134.0 million, respectively. Immediately prior to their exercise, the fair value of the then existing warrants liability was remeasured using the Black-Scholes option-pricing model, resulting in a loss upon remeasurement of $326.9 million. The warrants exercised by TRATON represented only a portion of their total and the unexercised warrants expired as of the exercise date. As of June 30, 2022, there were no warrants outstanding. The Company used the following assumptions in the model: As of February 26, 2021 March 19, 2021 Fair value of underlying securities $40.00 $40.00 Expected volatility 62.95% 60.85% Expected term (in years) 1.76 0.79 Risk-free interest rate 0.14% 0.08%

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components Property and Equipment, Net Property and equipment, net as of December 31, 2021 and June 30, 2022, was as follows (in thousands): As of December 31, June 30, Electronic equipment $ 12,761 $ 13,529 Office and other equipment 9,423 12,045 Vehicles 21,043 18,870 Leasehold improvements 11,984 10,425 Buildings — 1,841 Construction in progress 5,258 879 Property and equipment, gross 60,469 57,589 Accumulated depreciation and amortization (24,416) (26,184) Property and equipment, net $ 36,053 $ 31,405 Depreciation and amortization expense was $2.3 million and $4.4 million for the three and six months ended June 30, 2021, respectively, and $2.8 million and $5.5 million for the three and six months ended June 30, 2022, respectively. As of December 31, 2021, property and equipment financed under capital leases was $3.3 million, net of accumulated amortization of $2.5 million. As of June 30, 2022, property and equipment under finance leases was $4.4 million, net of accumulated depreciation of $0.7 million. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities as of December 31, 2021 and June 30, 2022 were as follows (in thousands): As of December 31, June 30, Accrued payroll $ 33,225 $ 21,263 Accrued information technology services 1,625 3,750 Accrued professional fees 1,938 1,133 Finance lease liabilities, current — 971 Other 4,910 7,412 Accrued expenses and other current liabilities $ 41,698 $ 34,529 Leases The balances for the operating and finance leases where the Company is the lessee are presented within the consolidated balance sheets as follows (in thousands): As of June 30, 2022 Operating leases: Operating lease right-of-use assets $ 41,641 Operating lease liabilities, current $ 2,905 Operating lease liabilities, noncurrent 41,156 Total operating lease liabilities $ 44,061 Finance leases: Property and equipment, at cost $ 5,134 Accumulated depreciation (726) Property and equipment, net $ 4,408 Accrued expenses and other current liabilities $ 971 Other liabilities 3,677 Total finance lease obligations $ 4,648 The components of lease expense were as follows (in thousands): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Operating lease expense: Operating lease expense (1) $ 2,285 $ 4,290 Finance lease expense: Amortization of leased assets $ 364 $ 727 Interest on lease liabilities 146 299 Total finance lease expense $ 510 $ 1,026 Total lease expense $ 2,795 $ 5,316 (1) Includes short-term leases and variable lease costs, which are immaterial. Other information related to leases where the Company is the lessee is as follows: As of June 30, 2022 Weighted-average remaining lease term: Operating leases 8.9 years Finance leases 3.3 years Weighted-average discount rate: Operating leases 4.4 % Finance leases 12.7 % Supplemental cash flow information related to leases where the Company is the lessee is as follows (in thousands): Six Months Ended June 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,998 Operating cash flows from finance leases (interest payments) $ 299 Financing cash flows from finance leases $ 587 Right-of-use assets obtained in exchange for lease obligations: Operating lease liabilities $ 47,419 Finance lease liabilities $ 5,240 As of June 30, 2022, the maturities of the Company's operating and financing lease liabilities (excluding short-term leases) are as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 1,005 $ 791 2023 7,577 1,386 2024 7,111 1,398 2025 6,938 2,200 2026 7,129 103 Thereafter 24,134 — Total minimum lease payments 53,894 5,878 Less: imputed interest (9,833) (1,230) Present value of minimum lease payments 44,061 4,648 Less: current portion (2,905) (971) Lease obligations, noncurrent $ 41,156 $ 3,677 As of June 30, 2022, the Company has additional leases for facilities that have not yet commenced with lease obligations of $1.2 million. These leases will commence between 2022 and 2023 with lease terms of four Supplemental Information for Comparative Periods Prior to the adoption of ASC 842, future minimum lease payments for non-cancelable operating and capital leases as of December 31, 2021 were as follows (in thousands): Operating Leases Capital Leases 2022 $ 7,660 $ 1,253 2023 7,891 978 2024 5,126 963 2025 3,435 1,761 2026 3,049 — Thereafter 22,524 — Total minimum lease payments $ 49,685 4,955 Amount representing interest (1,317) Present value of minimum lease payments $ 3,638

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Legal Proceedings The Company is not currently a party to any pending material litigation or other legal proceeding or claims.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Equity Compensation Plans The Company maintains three equity compensation plans that provide for the issuance of shares of our Class A common stock to our employees, directors, and consultants: the 2017 Share Plan (the “2017 Plan”), the 2021 Equity Incentive Plan (the “2021 Plan”), and the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which have all been approved by the board of directors. Following the Company's initial public offering ("IPO") in 2021, the 2017 Plan was terminated, but continues to govern the terms and conditions of the outstanding awards previously granted under the 2017 Plan. Subsequent to the IPO, the Company has only issued awards under the 2021 Plan and the ESPP. These plans provide for the issuance of incentive stock options (“ISOs”), nonstatutory stock options (“NSOs”), restricted shares, restricted stock units (“RSUs”), share value awards (“SVAs”), stock appreciation rights (“SARs”), and other awards. 2021 Employee Stock Purchase Plan During the six months ended June 30, 2022, 87,215 shares were purchased under the 2021 ESPP at a weighted-average price of $14.81 per share resulting in cash proceeds of $1.3 million. Stock Options A summary of the stock option activity, including the CEO Performance Award, for the six months ended June 30, 2022 is as follows (in thousands, except share amounts, per share amounts, and years): Options Outstanding Weighted- Average Exercise Price Weighted- Average Remaining Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2021 7,684,778 $ 12.91 9.04 $ 188,722 Exercised (796,567) $ 1.96 Cancelled/Forfeited (1,864,458) $ 18.41 Outstanding at June 30, 2022 5,023,753 $ 12.60 5.88 $ 12,133 Vested and exercisable at June 30, 2022 2,039,977 $ 5.31 6.00 $ 6,968 As of June 30, 2022, there was $17.5 million of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average service period of 2.66 years. CEO Performance Award In March 2021, included in the stock options discussed above, the Company granted 1,150,000 stock option awards to its now former CEO with an exercise price of $14.14 per share and a contractual life of ten years that vest upon the attainment of both operational milestones (performance conditions) and market conditions, assuming continued employment as CEO through the vesting date (the “CEO Performance Award”). In March 2022, the Company underwent a change in CEO and the CEO Performance Awards were cancelled in connection with the separation of the former CEO. As a result, the Company reversed the historical stock-based compensation expense attributable to the CEO Performance Awards of $7.1 million. In connection with the separation of the former CEO, a total of 1,850,000 stock options were modified, of which 440,000 were vested as of the modification date. The terms of the modification allow for continued vesting of the unvested stock options for the twelve-month period following the separation date ("transition period"), subject to the provision of advisory services throughout the transition period. Upon the completion of such continuous services, all stock options subject to vesting shall become vested and exercisable. Each of the modified stock options, including those vested and outstanding as of the modification date, shall remain outstanding and exercisable until the earlier of: (x) the date on which any of the Company's outstanding stock options are terminated in connection with a corporate transaction, (y) the original expiration date applicable to such stock options, and (z) the second anniversary of the date on which the transition services with the Company are terminated. The Company determined the continuous service provisions were in-substance an acceleration of the unvested awards and the incremental cost related to the modified options was recorded immediately upon the separation date. Additionally, 175,000 outstanding and unvested RSUs had their vesting accelerated in full as of the separation date. As a result of these modifications, the Company recorded incremental stock compensation expense of $13.9 million during the six months ended June 30, 2022. RSUs The following table summarizes the activity related to RSUs for the six months ended June 30, 2022: RSUs Outstanding Weighted-Average Unvested and outstanding at December 31, 2021 5,949,798 $ 46.54 Granted 5,822,841 $ 9.48 Vested (1,349,522) $ 38.52 Cancelled (1,113,273) $ 45.12 Unvested and outstanding at June 30, 2022 9,309,844 $ 24.69 Vested and outstanding at June 30, 2022 3,021 $ 19.36 SVAs The following table summarizes the activity related to SVAs for the six months ended June 30, 2022: SVAs Outstanding Weighted-Average Unvested and outstanding at December 31, 2021 315,559 $ 5.29 Vested (113,449) $ 4.39 Cancelled (24,166) $ 2.97 Unvested and outstanding at June 30, 2022 177,944 $ 6.18 Vested and outstanding at June 30, 2022 — $ — As of June 30, 2022, there was $202.2 million of unrecognized stock-based compensation expense related to RSUs and SVAs, which is expected to be recognized over a weighted-average service period of 2.72 years. Stock-based Compensation Expense Total stock-based compensation expense was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Research and development $ 25,469 $ 22,392 $ 27,138 $ 39,856 Selling, general and administrative 27,040 2,759 31,660 12,822 Total stock-based compensation expense $ 52,509 $ 25,151 $ 58,798 $ 52,678

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s effective tax rate was 0% for the six months ended June 30, 2022, which is lower than the U.S. federal rate of 21% and was primarily due to valuation allowances recorded on current year losses. As of June 30, 2022, the Company continues to maintain a full valuation allowance against its U.S. and foreign net deferred tax assets due to significant negative evidence, including cumulative losses in the most recent three-year period and the Company’s assessment that it is not more likely than not that the net deferred tax assets will be realized.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common StockholdersBasic net loss per share of common stock attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted-average shares of common stock outstanding for the period. Diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders for all years presented because the effects of potentially dilutive items were antidilutive given the Company’s net loss in each period presented. The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Numerator: Net loss $ (116,529) $ (108,595) $ (501,689) $ (220,498) Less: Accretion of redeemable convertible preferred stock — — (4,135) — Net loss attributable to common stockholders, basic and diluted $ (116,529) $ (108,595) $ (505,824) $ (220,498) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 182,382,800 223,785,825 121,800,404 223,159,618 Net loss per share: Net loss per share attributable to common stockholders, basic and diluted $ (0.64) $ (0.49) $ (4.15) $ (0.99) The following potentially dilutive outstanding shares were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect, or because issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: As of June 30, 2021 2022 Options to purchase common stock 15,269,083 5,023,753 RSUs subject to future vesting 2,285,275 9,309,844 SVAs subject to future vesting 514,206 177,944 Early exercised options subject to future vesting 50,000 30,000 Common stock contingently issuable under ESPP — 166,466 Total 18,118,564 14,708,007

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business TuSimple Holdings Inc. (“TuSimple” or the “Company”) is principally engaged in the operation and development of autonomous trucks and an autonomous freight network (“AFN”). The Company is headquartered in San Diego, California.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements (“Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes as of and for the year ended December 31, 2021 , included in the Company's Annual Report on Form 10-K. The condensed consolidated balance sheet as of December 31, 2021, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures required by GAAP. In management’s opinion, the accompanying Financial Statements reflect all normal recurring adjustments necessary for their fair presentation. Other than described below, there have been no changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2021 that have had a material impact on the Company’s Financial Statements.
Leases	Leases The Company accounts for leases in accordance with Accounting Standards Codification ("ASC") 842, Leases ("ASC 842"), which requires lessees to recognize on-balance sheet and disclose key information about leasing arrangements. The Company adopted ASC 842 along with all applicable ASU clarifications and improvements on January 1, 2022 using the modified retrospective transition method and used the effective date as the date of initial application. Consequently, financial information is not updated and disclosures required under ASC 842 are not provided for periods before January 1, 2022. ASC 842 provides a number of optional practical expedients in transition. The Company elected the "package of practical expedients," which permits the Company not to reassess under ASC 842 its prior conclusions about lease identification, lease classification and initial direct costs. The Company determines if a contract contains a lease based on whether it has the right to obtain substantially all of the economic benefits from the use of an identified asset and whether it has the right to direct the use of an identified asset in exchange for consideration, which relates to an asset which the Company does not own. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are recognized as the lease liability, adjusted for lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate (“IBR”) because the interest rate implicit in most of the Company’s leases is not readily determinable. Lease payments may be fixed or variable, however, only fixed payments or in-substance fixed payments are included in the Company’s lease liability calculation. Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments are incurred. The Company has lease agreements with lease and non-lease components and has elected to utilize the practical expedient to account for lease and non-lease components together as a single combined lease component. Additionally, the Company has determined that certain leases previously identified as build-to-suit leasing arrangements under legacy accounting (ASC 840), were derecognized pursuant to the transition guidance provided for build-to-suit leases in ASC 842. Accordingly, these leases have been reassessed as operating leases as of the adoption date under ASC 842, and are included on the condensed consolidated balance sheet as of June 30, 2022. The Company has leases that include one or more options to extend the lease term for up to five years and some of its leases include options to terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Operating leases are included within operating lease ROU assets, operating lease liabilities, current, and operating lease liabilities, noncurrent on the Company's condensed consolidated balance sheet as of June 30, 2022. Finance leases are included in property and equipment, net, accrued expenses and other current liabilities, and other liabilities on the Company's condensed consolidated balance sheets as of June 30, 2022. The Company has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. Adoption of the new lease standard on January 1, 2022 impacted the interim unaudited condensed consolidated financial statements as follows: (i) recognition of ROU assets of $32.9 million and lease liabilities of $35.1 million for operating leases, (ii) derecognition of build-to-suit lease assets and liabilities of $6.5 million and $4.4 million, respectively, with the net impact of $0.2 million recorded to accumulated deficit as of January 1, 2022, and (iii) reclassification of deferred rent and other liability balances of $2.5 million relating to its existing lease arrangements into the ROU asset balance as of January 1, 2022. The standard did not materially impact the condensed consolidated statement of operations and condensed consolidated statement of cash flows.
Reclassifications	Reclassifications Certain prior period balances have been reclassified to conform to the current period presentation in the condensed consolidated financial statements and the accompanying notes. Sales and marketing expense and general and administrative expense have been reclassified to selling, general and administrative expense.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases , to require lessees to recognize all leases, with limited exceptions, on the balance sheet, while recognition on the statement of operations will remain similar to legacy lease accounting, ASC 840. Subsequently, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842 , ASU No. 2018-11, Targeted Improvements , ASU No. 2018-20, Narrow-Scope Improvements for Lessors , and ASU 2019-01, Codification Improvements , to clarify and amend the guidance in ASU No. 2016-02. As disclosed above, the Company adopted the ASUs on January 1, 2022 on a modified retrospective basis. Recently Issued Accounting Pronouncements There have been no recent accounting pronouncements since the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, that may have a material impact on the Company's condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation (in thousands): As of December 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 1,077,550 $ 1,077,550 $ — $ — Total $ 1,077,550 $ 1,077,550 $ — $ — As of June 30, 2022 Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 925,228 $ 925,228 $ — $ — Total $ 925,228 $ 925,228 $ — $ —
Schedule of Fair Value Assumptions	The Company used the following assumptions in the model: As of February 26, 2021 March 19, 2021 Fair value of underlying securities $40.00 $40.00 Expected volatility 62.95% 60.85% Expected term (in years) 1.76 0.79 Risk-free interest rate 0.14% 0.08%

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net as of December 31, 2021 and June 30, 2022, was as follows (in thousands): As of December 31, June 30, Electronic equipment $ 12,761 $ 13,529 Office and other equipment 9,423 12,045 Vehicles 21,043 18,870 Leasehold improvements 11,984 10,425 Buildings — 1,841 Construction in progress 5,258 879 Property and equipment, gross 60,469 57,589 Accumulated depreciation and amortization (24,416) (26,184) Property and equipment, net $ 36,053 $ 31,405
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of December 31, 2021 and June 30, 2022 were as follows (in thousands): As of December 31, June 30, Accrued payroll $ 33,225 $ 21,263 Accrued information technology services 1,625 3,750 Accrued professional fees 1,938 1,133 Finance lease liabilities, current — 971 Other 4,910 7,412 Accrued expenses and other current liabilities $ 41,698 $ 34,529
Summary of Balances for Operating and Finance Leases	The balances for the operating and finance leases where the Company is the lessee are presented within the consolidated balance sheets as follows (in thousands): As of June 30, 2022 Operating leases: Operating lease right-of-use assets $ 41,641 Operating lease liabilities, current $ 2,905 Operating lease liabilities, noncurrent 41,156 Total operating lease liabilities $ 44,061 Finance leases: Property and equipment, at cost $ 5,134 Accumulated depreciation (726) Property and equipment, net $ 4,408 Accrued expenses and other current liabilities $ 971 Other liabilities 3,677 Total finance lease obligations $ 4,648
Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense were as follows (in thousands): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Operating lease expense: Operating lease expense (1) $ 2,285 $ 4,290 Finance lease expense: Amortization of leased assets $ 364 $ 727 Interest on lease liabilities 146 299 Total finance lease expense $ 510 $ 1,026 Total lease expense $ 2,795 $ 5,316 (1) Includes short-term leases and variable lease costs, which are immaterial. Other information related to leases where the Company is the lessee is as follows: As of June 30, 2022 Weighted-average remaining lease term: Operating leases 8.9 years Finance leases 3.3 years Weighted-average discount rate: Operating leases 4.4 % Finance leases 12.7 % Supplemental cash flow information related to leases where the Company is the lessee is as follows (in thousands): Six Months Ended June 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,998 Operating cash flows from finance leases (interest payments) $ 299 Financing cash flows from finance leases $ 587 Right-of-use assets obtained in exchange for lease obligations: Operating lease liabilities $ 47,419 Finance lease liabilities $ 5,240
Schedule of Operating Leases	As of June 30, 2022, the maturities of the Company's operating and financing lease liabilities (excluding short-term leases) are as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 1,005 $ 791 2023 7,577 1,386 2024 7,111 1,398 2025 6,938 2,200 2026 7,129 103 Thereafter 24,134 — Total minimum lease payments 53,894 5,878 Less: imputed interest (9,833) (1,230) Present value of minimum lease payments 44,061 4,648 Less: current portion (2,905) (971) Lease obligations, noncurrent $ 41,156 $ 3,677
Schedule of Finance Leases	As of June 30, 2022, the maturities of the Company's operating and financing lease liabilities (excluding short-term leases) are as follows (in thousands): Operating Leases Finance Leases Remainder of 2022 $ 1,005 $ 791 2023 7,577 1,386 2024 7,111 1,398 2025 6,938 2,200 2026 7,129 103 Thereafter 24,134 — Total minimum lease payments 53,894 5,878 Less: imputed interest (9,833) (1,230) Present value of minimum lease payments 44,061 4,648 Less: current portion (2,905) (971) Lease obligations, noncurrent $ 41,156 $ 3,677
Schedule of Operating Leases Prior to Adoption of ASC 842	Prior to the adoption of ASC 842, future minimum lease payments for non-cancelable operating and capital leases as of December 31, 2021 were as follows (in thousands): Operating Leases Capital Leases 2022 $ 7,660 $ 1,253 2023 7,891 978 2024 5,126 963 2025 3,435 1,761 2026 3,049 — Thereafter 22,524 — Total minimum lease payments $ 49,685 4,955 Amount representing interest (1,317) Present value of minimum lease payments $ 3,638
Schedule of Capital Leases Prior to Adoption of ASC 842	Prior to the adoption of ASC 842, future minimum lease payments for non-cancelable operating and capital leases as of December 31, 2021 were as follows (in thousands): Operating Leases Capital Leases 2022 $ 7,660 $ 1,253 2023 7,891 978 2024 5,126 963 2025 3,435 1,761 2026 3,049 — Thereafter 22,524 — Total minimum lease payments $ 49,685 4,955 Amount representing interest (1,317) Present value of minimum lease payments $ 3,638

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activities	A summary of the stock option activity, including the CEO Performance Award, for the six months ended June 30, 2022 is as follows (in thousands, except share amounts, per share amounts, and years): Options Outstanding Weighted- Average Exercise Price Weighted- Average Remaining Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2021 7,684,778 $ 12.91 9.04 $ 188,722 Exercised (796,567) $ 1.96 Cancelled/Forfeited (1,864,458) $ 18.41 Outstanding at June 30, 2022 5,023,753 $ 12.60 5.88 $ 12,133 Vested and exercisable at June 30, 2022 2,039,977 $ 5.31 6.00 $ 6,968
Summary of Nonvested Restricted Stock Unit Awards	The following table summarizes the activity related to RSUs for the six months ended June 30, 2022: RSUs Outstanding Weighted-Average Unvested and outstanding at December 31, 2021 5,949,798 $ 46.54 Granted 5,822,841 $ 9.48 Vested (1,349,522) $ 38.52 Cancelled (1,113,273) $ 45.12 Unvested and outstanding at June 30, 2022 9,309,844 $ 24.69 Vested and outstanding at June 30, 2022 3,021 $ 19.36
Summary of Nonvested Shareholder Value Awards Activity	The following table summarizes the activity related to SVAs for the six months ended June 30, 2022: SVAs Outstanding Weighted-Average Unvested and outstanding at December 31, 2021 315,559 $ 5.29 Vested (113,449) $ 4.39 Cancelled (24,166) $ 2.97 Unvested and outstanding at June 30, 2022 177,944 $ 6.18 Vested and outstanding at June 30, 2022 — $ —
Summary of Total Stock-based Compensation Expense	Total stock-based compensation expense was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Research and development $ 25,469 $ 22,392 $ 27,138 $ 39,856 Selling, general and administrative 27,040 2,759 31,660 12,822 Total stock-based compensation expense $ 52,509 $ 25,151 $ 58,798 $ 52,678

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2022 2021 2022 Numerator: Net loss $ (116,529) $ (108,595) $ (501,689) $ (220,498) Less: Accretion of redeemable convertible preferred stock — — (4,135) — Net loss attributable to common stockholders, basic and diluted $ (116,529) $ (108,595) $ (505,824) $ (220,498) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 182,382,800 223,785,825 121,800,404 223,159,618 Net loss per share: Net loss per share attributable to common stockholders, basic and diluted $ (0.64) $ (0.49) $ (4.15) $ (0.99)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive outstanding shares were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect, or because issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: As of June 30, 2021 2022 Options to purchase common stock 15,269,083 5,023,753 RSUs subject to future vesting 2,285,275 9,309,844 SVAs subject to future vesting 514,206 177,944 Early exercised options subject to future vesting 50,000 30,000 Common stock contingently issuable under ESPP — 166,466 Total 18,118,564 14,708,007

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) option	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Description Of Business And Summary Of Significant Accounting Policies Disclosure [Line Items]
Number of options to extend the lease term | option	1
Option to extend, lease term	5 years
Option to extend, lease term	5 years
Operating lease right-of-use assets	$ 41,641	$ 32,900	$ 0
Present value of minimum lease payments	44,061	35,100
Accumulated deficit	$ (1,358,158)		(1,137,851)
Cumulative Effect, Period of Adoption, Adjustment
Description Of Business And Summary Of Significant Accounting Policies Disclosure [Line Items]
Accumulated deficit			$ 200
Revision of Prior Period, Accounting Standards Update, Adjustment
Description Of Business And Summary Of Significant Accounting Policies Disclosure [Line Items]
Operating lease right-of-use assets		2,500
Build-to-suit lease assets		6,500
Build-to-suit lease liabilities		4,400
Deferred rent credit		$ 2,500

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Total	$ 925,228	$ 1,077,550
Level 1
Assets:
Total	925,228	1,077,550
Level 2
Assets:
Total	0	0
Level 3
Assets:
Total	0	0
Money market funds
Assets:
Cash equivalents	925,228	1,077,550
Money market funds | Level 1
Assets:
Cash equivalents	925,228	1,077,550
Money market funds | Level 2
Assets:
Cash equivalents	0	0
Money market funds | Level 3
Assets:
Cash equivalents	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		2 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Feb. 28, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value Measurements [Line Items]
Proceeds from warrant exercises						$ 0	$ 183,007
Change in fair value of warrants liability			$ 326,900	$ 0	$ 0	$ 0	$ 326,900
Warrants outstanding (in shares)				0		0
Series E-2 Preferred Shares | Traton
Fair Value Measurements [Line Items]
Warrants to purchase preferred stock (in shares)		4,331,644
Exercise price per share (in dollars per share)		$ 11.31
Proceeds from warrant exercises		$ 49,000
Series E Redeemable Convertible Preferred Stock | Navistar, Inc.
Fair Value Measurements [Line Items]
Warrants to purchase preferred stock (in shares)	9,477,073		9,477,073
Exercise price per share (in dollars per share)	$ 14.14		$ 14.14
Proceeds from warrant exercises	$ 134,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assumptions (Details)	Mar. 19, 2021 $ / shares	Feb. 26, 2021 $ / shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair value of underlying securities (in dollars per share)	$ 40	$ 40
Expected volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	0.6085	0.6295
Expected term (in years)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	9 months 14 days	1 year 9 months 3 days
Risk-free interest rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	0.0008	0.0014

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 57,589	$ 60,469
Accumulated depreciation and amortization	(26,184)	(24,416)
Property and equipment, net	31,405	36,053
Electronic equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	13,529	12,761
Office and other equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	12,045	9,423
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment, gross	18,870	21,043
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	10,425	11,984
Buildings
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,841	0
Construction in progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 879	$ 5,258

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Depreciation	$ 2,800	$ 2,300	$ 5,500	$ 4,400
Property and equipment, net	31,405		31,405		$ 36,053
Accumulated amortization	26,184		26,184		24,416
Property and equipment, net	4,408		4,408
Accumulated depreciation	726		726
Lease obligations, not yet commenced	$ 1,200		$ 1,200
Minimum
Property Plant And Equipment [Line Items]
Lease term, not yet commenced	4 years		4 years
Maximum
Property Plant And Equipment [Line Items]
Lease term, not yet commenced	5 years		5 years
Financed Under Capital Leases
Property Plant And Equipment [Line Items]
Property and equipment, net					3,300
Accumulated amortization					$ 2,500

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued payroll	$ 21,263	$ 33,225
Accrued information technology services	3,750	1,625
Accrued professional fees	1,133	1,938
Finance lease liabilities, current	971	0
Other	7,412	4,910
Accrued expenses and other current liabilities	$ 34,529	$ 41,698

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Balances for Operating and Finance Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Operating leases:
Operating lease right-of-use assets	$ 41,641	$ 32,900	$ 0
Operating lease liabilities, current	2,905		0
Operating lease liabilities, noncurrent	41,156		0
Total operating lease liabilities	44,061	$ 35,100
Finance leases:
Property and equipment, at cost	5,134
Accumulated depreciation	(726)
Property and equipment, net	4,408
Capital lease liabilities, current	971		$ 0
Capital lease liabilities, noncurrent	3,677
Total finance lease obligations	$ 4,648

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Operating lease expense:
Operating lease expense	$ 2,285	$ 4,290
Finance lease expense:
Amortization of leased assets	364	727
Interest on lease liabilities	146	299
Total finance lease expense	510	1,026
Total lease expense	$ 2,795	$ 5,316
Weighted-average remaining lease term:
Operating leases	8 years 10 months 24 days	8 years 10 months 24 days
Finance leases	3 years 3 months 18 days	3 years 3 months 18 days
Weighted-average discount rate:
Operating leases	4.40%	4.40%
Finance leases	12.70%	12.70%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$ 3,998
Operating cash flows from finance leases (interest payments)		299
Financing cash flows from finance leases		587	$ 0
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities		47,419
Finance lease liabilities		$ 5,240

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Operating and Finance Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Operating Leases
Remainder of 2022	$ 1,005
2023	7,577
2024	7,111
2025	6,938
2026	7,129
Thereafter	24,134
Total minimum lease payments	53,894
Less: imputed interest	(9,833)
Total operating lease liabilities	44,061	$ 35,100
Less: current portion	(2,905)		$ 0
Lease obligations, noncurrent	41,156		0
Finance Leases
Remainder of 2022	791
2023	1,386
2024	1,398
2025	2,200
2026	103
Thereafter	0
Total minimum lease payments	5,878
Less: imputed interest	(1,230)
Total finance lease obligations	4,648
Less: current portion	(971)		$ 0
Lease obligations, noncurrent	$ 3,677

Balance Sheet Components - Sc_4

Balance Sheet Components - Schedule of Operating and Capital Leases Prior to Adoption of ASC 842 (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Leases
2022	$ 7,660
2023	7,891
2024	5,126
2025	3,435
2026	3,049
Thereafter	22,524
Total minimum lease payments	49,685
Capital Leases
2022	1,253
2023	978
2024	963
2025	1,761
2026	0
Thereafter	0
Total minimum lease payments	4,955
Amount representing interest	(1,317)
Present value of minimum lease payments	$ 3,638

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) compensation_plan $ / shares shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of equity compensation plans maintained by the company | compensation_plan		3
Shares purchased under ESPP (in shares) | shares		87,215
ESPP weighted-average price per share (in dollars per share) | $ / shares		$ 14.81
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan | $		$ 1,292	$ 0
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense | $		$ 17,500
Unrecognized share-based compensation expense, weighted-average service period		2 years 7 months 28 days
Stock options contractual life		5 years 10 months 17 days		9 years 14 days
CEO Performance Award | CEO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted (in shares) | shares	1,150,000
Stock options exercise price (in dollars per share) | $ / shares	$ 14.14
Stock options contractual life	10 years
CEO Performance Award | Former Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reversed stock-based compensation expense | $	$ 7,100
Modified stock options (in shares) | shares	1,850,000
Shares vested as of the modification date (in shares) | shares	440,000
Outstanding and unvested RSUs (in shares) | shares	175,000
Incremental stock compensation expense | $		$ 13,900
RSUs and SVAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense, weighted-average service period		2 years 8 months 19 days
Unrecognized share-based compensation expense | $		$ 202,200

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Stock Options $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Options Outstanding
Outstanding, beginning of period (in shares) | shares	7,684,778
Exercised (in shares) | shares	(796,567)
Cancelled/Forfeited (in shares) | shares	(1,864,458)
Outstanding, end of period (in shares) | shares	5,023,753	7,684,778
Vested and exercisable (in shares) | shares	2,039,977
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 12.91
Exercised (in shares) | $ / shares	1.96
Cancelled/Forfeited (in dollars per share) | $ / shares	18.41
Outstanding, end of period (in dollars per share) | $ / shares	12.60	$ 12.91
Vested and exercisable (in dollars per share) | $ / shares	$ 5.31
Weighted-Average Remaining Life (Years)
Outstanding	5 years 10 months 17 days	9 years 14 days
Vested and exercisable	6 years
Aggregate Intrinsic Value
Outstanding | $	$ 12,133	$ 188,722
Vested and exercisable | $	$ 6,968

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Nonvested Restricted Stock Unit Awards (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
RSUs Outstanding
Unvested and Outstanding, Beginning Balance (in shares) | shares	5,949,798
Granted (in shares) | shares	5,822,841
Vested (in shares) | shares	(1,349,522)
Cancelled (in shares) | shares	(1,113,273)
Unvested and Outstanding, Ending Balance (in shares) | shares	9,309,844
Vested and Outstanding (in shares) | shares	3,021
Weighted-Average Grant Date Fair Value per Share
Unvested and Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 46.54
Granted (in dollars per share) | $ / shares	9.48
Vested (in dollars per share) | $ / shares	38.52
Cancelled (in dollars per share) | $ / shares	45.12
Unvested and Outstanding, Ending Balance (in dollars per share) | $ / shares	24.69
Vested and Outstanding (in dollars per share) | $ / shares	$ 19.36

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Nonvested Shareholder Value Awards Activity (Details) - Shareholder Value Awards (SVAs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
SVAs Outstanding
Unvested and Outstanding, Beginning Balance (in shares) | shares	315,559
Vested (in shares) | shares	(113,449)
Cancelled (in shares) | shares	(24,166)
Unvested and Outstanding, Ending Balance (in shares) | shares	177,944
Vested and Outstanding (in shares) | shares	0
Weighted-Average Grant Date Fair Value per Share
Unvested and Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 5.29
Vested (in dollars per share) | $ / shares	4.39
Cancelled (in dollars per share) | $ / shares	2.97
Unvested and Outstanding, Ending Balance (in dollars per share) | $ / shares	6.18
Vested and Outstanding (in dollars per share) | $ / shares	$ 0

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 25,151	$ 52,509	$ 52,678	$ 58,798
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	22,392	25,469	39,856	27,138
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,759	$ 27,040	$ 12,822	$ 31,660

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	0%

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Summary of Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss	$ (108,595)	$ (111,903)	$ (116,529)	$ (385,160)	$ (220,498)	$ (501,689)
Less: Accretion of redeemable convertible preferred stock	0		0		0	(4,135)
Net loss attributable to common stockholders, basic	(108,595)		(116,529)		(220,498)	(505,824)
Net loss attributable to common stockholders, diluted	$ (108,595)		$ (116,529)		$ (220,498)	$ (505,824)
Denominator:
Weighted-average shares used in computing net loss per share, basic (In shares)	223,785,825		182,382,800		223,159,618	121,800,404
Weighted-average shares used in computing net loss per share, diluted (in shares)	223,785,825		182,382,800		223,159,618	121,800,404
Net loss per share:
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.49)		$ (0.64)		$ (0.99)	$ (4.15)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.49)		$ (0.64)		$ (0.99)	$ (4.15)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	14,708,007	18,118,564
Options to purchase common stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,023,753	15,269,083
RSUs subject to future vesting
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,309,844	2,285,275
SVAs subject to future vesting
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	177,944	514,206
Early exercised options subject to future vesting
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	30,000	50,000
Common stock contingently issuable under ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	166,466	0