Benson Hill (BHIL) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39835
Entity Registrant Name	Benson Hill, Inc.
Entity Incorporation, State Code	DE
Entity Tax Identification Number	85-3374823
Entity Address, Address Line One	1001 North Warson Rd
Entity Address, City or Town	St. Louis,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63132
City Area Code	(314)
Local Phone Number	222-8218
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		207,974,435
Entity Central Index Key	0001830210
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock, $0.0001 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	BHIL
Security Exchange Name	NYSE
Warrants exercisable for one share of common stock at an exercise price of $11.50
Entity Information [Line Items]
Title of 12(b) Security	Warrants exercisable for one share of common stock at an exercise price of $11.50
Trading Symbol	BHIL WS
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 13,882	$ 25,053
Marketable securities	80,514	132,121
Accounts receivable, net	36,456	28,591
Inventories, net	42,670	62,110
Prepaid expenses and other current assets	28,941	29,346
Current assets of discontinued operations	4,226	23,507
Total current assets	206,689	300,728
Property and equipment, net	99,658	99,759
Finance lease right-of-use assets, net	63,185	66,533
Operating lease right-of-use assets	5,628	1,660
Goodwill and intangible assets, net	7,774	27,377
Other assets	9,367	4,863
Total assets	392,301	500,920
Current liabilities:
Accounts payable	20,607	36,717
Finance lease liabilities, current portion	3,725	3,318
Operating lease liabilities, current portion	1,310	364
Long-term debt, current portion	2,246	2,242
Accrued expenses and other current liabilities	22,224	33,435
Current liabilities of discontinued operations	4,031	16,441
Total current liabilities	54,143	92,517
Long-term debt, less current portion	105,185	103,991
Finance lease liabilities, less current portion	75,746	76,431
Operating lease liabilities, less current portion	6,512	1,291
Warrant liabilities	11,732	24,285
Conversion option liabilities	1,983	8,091
Deferred income taxes	155	283
Other non-current liabilities	242	129
Total liabilities	255,698	307,018
Stockholders’ equity:
Common stock, $0.0001 par value, 440,000 and 440,000 shares authorized, 207,467 and 206,668 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	21	21
Additional paid-in capital	608,522	609,450
Accumulated deficit	(468,369)	(408,474)
Accumulated other comprehensive loss	(3,571)	(7,095)
Total stockholders’ equity	136,603	193,902
Total liabilities and stockholders’ equity	$ 392,301	$ 500,920

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	440,000,000	440,000,000
Common stock, shares, issued (in shares)	207,467,000	206,668,000
Common stock, shares outstanding (in shares)	207,467,000	206,668,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 109,038	$ 93,631	$ 243,681	$ 159,757
Cost of sales	106,070	87,889	231,190	162,950
Gross profit (loss)	2,968	5,742	12,491	(3,193)
Operating expenses:
Research and development	10,313	12,006	22,955	24,301
Selling, general and administrative expenses	10,851	20,281	27,018	40,536
Impairment of goodwill	19,226	0	19,226	0
Total operating expenses	40,390	32,287	69,199	64,837
Loss from operations	(37,422)	(26,545)	(56,708)	(68,030)
Other (income) expense:
Interest expense, net	6,874	3,442	13,246	9,830
Changes in fair value of warrants and conversion option	3,036	(5,899)	(18,660)	(37,640)
Other expense, net	1,921	954	2,789	2,285
Total other (income) expense, net	11,831	(1,503)	(2,625)	(25,525)
Net loss from continuing operations before income taxes	(49,253)	(25,042)	(54,083)	(42,505)
Income tax expense (benefit)	(138)	56	(123)	17
Net loss from continuing operations, net of income taxes	(49,115)	(25,098)	(53,960)	(42,522)
Net loss from discontinued operations, net of income taxes (refer to Note 4, Discontinued Operations)	(7,726)	(2,456)	(5,935)	(1,608)
Net loss attributable to common stockholders	$ (56,841)	$ (27,554)	$ (59,895)	$ (44,130)
Net loss per common share:
Basic net loss per common share from continuing operations (in usd per share)	$ (0.26)	$ (0.14)	$ (0.29)	$ (0.24)
Diluted net loss per common share from continuing operations (in usd per share)	(0.26)	(0.14)	(0.29)	(0.24)
Basic net loss per common share from discontinued operations (in usd per share)	(0.04)	(0.01)	(0.03)	(0.01)
Diluted net loss per common share from discontinued operations (in usd per share)	(0.04)	(0.01)	(0.03)	(0.01)
Basic total net loss per common share (in usd per share)	(0.30)	(0.15)	(0.32)	(0.25)
Diluted total net loss per common share (in usd per share)	$ (0.30)	$ (0.15)	$ (0.32)	$ (0.25)
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	187,725	185,530	187,421	173,189
Diluted weighted average shares outstanding (in shares)	187,725	185,530	187,421	173,189

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss attributable to common stockholders	$ (56,841)	$ (27,554)	$ (59,895)	$ (44,130)
Foreign currency:
Comprehensive income (loss)	0	20	0	(45)
Marketable securities:
Comprehensive income (loss)	4,662	(4,393)	6,568	(8,159)
Adjustment for net income (loss) realized in net loss	(1,994)	1,022	(3,044)	2,229
Other comprehensive loss	2,668	(3,371)	3,524	(5,930)
Total other comprehensive income (loss)	2,668	(3,351)	3,524	(5,975)
Total comprehensive loss	$ (54,173)	$ (30,905)	$ (56,371)	$ (50,105)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		178,089
Beginning balance at Dec. 31, 2021	$ 251,447	$ 18	$ 533,101	$ (280,569)	$ (1,103)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, net (in shares)		830
Stock option exercises, net	636		636
Stock-based compensation expense	5,683		5,683
PIPE Investment, net of issuance costs (in shares)		26,150
PIPE Investment, net of issuance cost of $3,456	54,928	$ 3	54,925
Comprehensive income (loss)	(19,200)			(16,576)	(2,624)
Ending balance (in shares) at Mar. 31, 2022		205,069
Ending balance at Mar. 31, 2022	293,494	$ 21	594,345	(297,145)	(3,727)
Beginning balance (in shares) at Dec. 31, 2021		178,089
Beginning balance at Dec. 31, 2021	251,447	$ 18	533,101	(280,569)	(1,103)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(50,105)
Ending balance (in shares) at Jun. 30, 2022		205,616
Ending balance at Jun. 30, 2022	268,980	$ 21	600,736	(324,699)	(7,078)
Beginning balance (in shares) at Mar. 31, 2022		205,069
Beginning balance at Mar. 31, 2022	293,494	$ 21	594,345	(297,145)	(3,727)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, net (in shares)		547
Stock option exercises, net	715		715
Stock-based compensation expense	5,676		5,676
Comprehensive income (loss)	(30,905)			(27,554)	(3,351)
Ending balance (in shares) at Jun. 30, 2022		205,616
Ending balance at Jun. 30, 2022	$ 268,980	$ 21	600,736	(324,699)	(7,078)
Beginning balance (in shares) at Dec. 31, 2022	206,668	206,668
Beginning balance at Dec. 31, 2022	$ 193,902	$ 21	609,450	(408,474)	(7,095)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, net (in shares)		791
Stock option exercises, net	121		121
Stock-based compensation expense	2,814		2,814
Comprehensive income (loss)	(2,198)			(3,054)	856
Ending balance (in shares) at Mar. 31, 2023		207,459
Ending balance at Mar. 31, 2023	$ 194,639	$ 21	612,385	(411,528)	(6,239)
Beginning balance (in shares) at Dec. 31, 2022	206,668	206,668
Beginning balance at Dec. 31, 2022	$ 193,902	$ 21	609,450	(408,474)	(7,095)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	$ (56,371)
Ending balance (in shares) at Jun. 30, 2023	207,467	207,467
Ending balance at Jun. 30, 2023	$ 136,603	$ 21	608,522	(468,369)	(3,571)
Beginning balance (in shares) at Mar. 31, 2023		207,459
Beginning balance at Mar. 31, 2023	194,639	$ 21	612,385	(411,528)	(6,239)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, net (in shares)		8
Stock option exercises, net	19		19
Stock-based compensation expense	(3,882)		(3,882)
Comprehensive income (loss)	$ (54,173)			(56,841)	2,668
Ending balance (in shares) at Jun. 30, 2023	207,467	207,467
Ending balance at Jun. 30, 2023	$ 136,603	$ 21	$ 608,522	$ (468,369)	$ (3,571)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Statement of Stockholders' Equity [Abstract]
Transaction costs	$ 3,456

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net loss	$ (59,895)	$ (44,130)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	10,596	10,942
Stock-based compensation expense	(1,214)	11,359
Bad debt expense	(197)	445
Changes in fair value of warrants and conversion option	(18,660)	(37,640)
Accretion and amortization related to financing activities	4,318	5,875
Realized losses on sale of marketable securities	3,044	2,229
Impairment of goodwill	19,226	0
Other	2,593	3,521
Changes in operating assets and liabilities:
Accounts receivable	(1,614)	(5,469)
Inventories	31,072	9,117
Other assets and other liabilities	909	5,293
Accounts payable	(23,708)	(12,722)
Accrued expenses	(10,751)	(7,552)
Net cash used in operating activities	(44,281)	(58,732)
Investing activities
Purchases of marketable securities	(75,050)	(248,637)
Proceeds from maturities of marketable securities	41,759	9,549
Proceeds from sales of marketable securities	84,385	170,217
Purchase of property and equipment	(6,956)	(5,637)
Acquisition, net of cash acquired	0	(1,034)
Proceeds from divestiture of discontinued operations	1,928	0
Other	36	0
Net cash provided by (used in) investing activities	46,102	(75,542)
Financing activities
Contributions from PIPE Investment, net of transaction costs $3,761 in 2022	0	81,234
Repayments of long-term debt	(4,313)	(4,576)
Proceeds from issuance of long-term debt	0	24,078
Payments of debt issuance costs	(2,000)	(38)
Borrowing under revolving line of credit	0	12,491
Repayments under revolving line of credit	0	(11,783)
Payments of finance lease obligations	(1,595)	(629)
Proceeds from exercise of stock awards, net of withholding taxes	140	1,351
Net cash (used in)/provided by financing activities	(7,768)	102,128
Effect of exchange rate changes on cash	0	(45)
Net decrease in cash and cash equivalents	(5,947)	(32,191)
Cash, cash equivalents and restricted cash, beginning of period	43,321	78,963
Cash, cash equivalents and restricted cash, end of period	37,374	46,772
Supplemental disclosure of cash flow information
Cash paid for taxes	2	1
Cash paid for interest	9,555	5,900
Supplemental disclosure of non-cash activities
PIPE Investment issuance costs included in accrued expenses and other current liabilities	0	362
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	333	2,255
Financing leases commencing in the period	$ 0	$ 806

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Statement of Cash Flows [Abstract]
Transaction costs	$ 3,761

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Benson Hill, Inc. and subsidiaries (collectively, “Benson Hill”, the “Company”, “we”, “us”, or “our”) is a food technology company on a mission to lead the pace of innovation in food. We have a vision to build a healthier and happier world by unlocking the natural genetic diversity of plants with our leading technology platform, CropOS ® . Starting with consumer demand, we leverage CropOS ® and advanced breeding techniques to design food that’s better from the beginning: more nutritious, more flavorful, and more accessible, while enabling efficient production and delivering novel sustainability benefits to food and feed customers. We are headquartered in St. Louis, Missouri, where the majority of our research and development activities are managed. We operate a soy crushing and food-grade white flake and soy flour manufacturing operation in Creston, Iowa, a soy crushing facility in Seymour, Indiana, and we process dry peas in North Dakota, which we sell throughout North America. Fresh Business Segment Divestiture On December 29, 2022, the Company entered into a Stock Purchase Agreement (the “Stock Sale”) to sell J&J Produce, Inc. (“J&J”) and all of the outstanding equity securities of J&J’s subsidiaries for aggregate cash consideration of $3,000, subject to certain adjustments. J&J was the main component of the former Fresh segment. In connection with the Stock Purchase Agreement, on December 29, 2022, J&J entered into a Purchase and Sale Agreement, pursuant to which J&J sold certain real and personal property comprising an agricultural production and processing facility located in Vero Beach, Florida, for an aggregate purchase price of $18,000, subject to certain adjustments. Certain property was leased back to J&J pursuant to a separate agricultural and facility lease for a short period of time. On June 30, 2023, the Company closed the Stock Sale. The Company’s strategic shift to exit the Fresh segment met the criteria to be classified as businesses held for sale and to be presented as a discontinued operation. Refer to N ote 4 , Discontinued Operations for further details on the divestiture of the former Fresh segment. Liquidity and Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting and Securities and Exchange Commission (“SEC”) regulations, assuming the Company will continue as a going concern. For the three and six months ended June 30, 2023, the Company incurred a net loss from continuing operations of $49,115 and $53,960, respectively, and for the six months ended June 30, 2023, the Company had negative cash flows from operating activities of $44,281 and had capital expenditures of $6,956. As of June 30, 2023, the Company had cash and marketable securities of $94,396 and restricted cash of $19,840. Furthermore, as of June 30, 2023, the Company had an accumulated deficit of $468,369 and term debt and notes payable of $107,431, which are subject to repayment terms and covenants further described in Note 9 , De bt . Specifically, scheduled principal payments on the Convertible Notes Payable are due starting in the third quarter of 2024. The Company has incurred significant losses since its inception, primarily to fund investment into technology and costs associated with early-stage commercialization of products. These factors, coupled with expected debt repayments and capital expenditures indicated that, without further action, the Company’s forecasted cash flows would not be sufficient for the Company to meet its contractual commitments and obligations as they came due in the ordinary course of business for 12 months after the date the condensed consolidated financial statements are issued. Therefore, there is now substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. During the first quarter of 2023, the Company entered into an amendment to its existing Convertible Loan and Security Agreement, which among other things, extended the interest-only period by six months through the second quarter of 2024, and allowed the restricted cash to be counted towards the required minimum liquidity covenant calculation. In addition, the Company’s liquidity plans and operating budget include further actions that management believes are probable of being achieved in the 12 months after the date the condensed consolidated financial statements were issued. These actions include improving operating efficiencies by reducing certain operating costs and restructuring certain parts of the organization. In addition, the Company is considering additional actions to allow the Company to meet its obligations as they come due including exploring strategic options involving its Seymour, Indiana soy crush facility, supplementing cash needs by selling additional shares of its common stock, or securities convertible into common stock, to the public through its shelf registration statement, or obtaining alternative equity financing, and potentially refinancing its current high-cost debt with a conventional, lower cost, lending facility of up to $100 million. There are no guarantees that the Company will achieve any of these plans, which involve risks and uncertainties. For the three and six months ended June 2023, the Company recognized severance charges of $1,126 and $1,238, respectively, within selling, general and administrative expenses on the Condensed Consolidated Statement of Operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial reporting and SEC regulations. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year ended December 31, 2023. A description of the Company’s significant accounting policies is included in the notes to our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022. These unaudited condensed consolidated financial statements should be read in conjunction with the December 31, 2022 audited consolidated financial statements and the notes thereto. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and an Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). Certain prior period balances have been reclassified to conform to the current period presentation in the unaudited condensed consolidated financial statements and the accompanying notes. Emerging Growth Company Status We are an “emerging growth company,” as defined in Section 2(a) of the Securities Act and have elected to take advantage of the benefits of the extended transition period for new or revised financial accounting standards. We expect to remain an emerging growth company at least through December 31, 2023 and expect to continue to take advantage of the benefits of the extended transition period, although we may decide to early adopt such new or revised accounting standards to the extent permitted by such standards. We expect to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and non-public companies until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). This may make it difficult or impossible to compare our financial results with the financial results of another public company that is either not an emerging growth company or is an emerging growth company that has chosen not to take advantage of the extended transition period exemptions because of the potential differences in accounting standards used. In addition, we intend to rely on the other exemptions and reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an emerging growth company, we intend to rely on such exemptions, we are not required to, among other things: (a) provide an auditor’s attestation report on our system of internal control over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act; (b) provide all of the compensation disclosures that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act; (c) comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis); and (d) disclose certain executive compensation-related items such as the correlation between executive compensation and performance and comparisons of the Chief Executive Officer’s compensation to median employee compensation. We will remain an emerging growth company under the JOBS Act until the earliest of (a) December 31, 2026, (b) the last date of our fiscal year in which we have total annual gross revenue of at least $1.235 billion, (c) the date on which we are deemed to be a “large accelerated filer” under the rules of the SEC with at least $700.0 million of outstanding securities held by non- affiliates or (d) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the previous three years. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant management estimates include those with respect to allowance for doubtful accounts, reserves for inventory obsolescence, the recoverability of long-lived assets, intangibles and goodwill and the estimated value of our warrant liabilities and conversion option liabilities. Cash, Cash Equivalents and Restricted Cash We consider all short-term, highly liquid investments with maturities of 90 days or less at the acquisition date to be cash equivalents. Restricted cash primarily represents cash proceeds from the sale of certain assets pursuant to the covenants with a lender. Restricted cash is classified as non-current if the Company expects that the cash will remain restricted for a period greater than one year. Current restricted cash is included in the prepaid expenses and other current assets on the condensed consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets, inclusive of $3,652 of cash and cash equivalents reported within current assets of discontinued operations as of June 30, 2023 to the amount shown in the condensed consolidated statements of cash flows. There was no restricted cash as of June 30, 2022. June 30, Cash and cash equivalents $ 17,534 Restricted cash, current 19,840 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 37,374 Goodwill and Intangible Assets Goodwill, arising from a business combination as the excess of purchase price and related costs over the fair value of identifiable assets acquired and liabilities assumed is not amortized and is subject to an annual impairment test as of December 1, unless events indicate an interim test is required. In performing this impairment test, management will first qualitatively assess indicators of a reporting unit’s fair value. If, after completing the qualitative assessment, management believes it is likely that a reporting unit is impaired, a discounted cash flow analysis is prepared to estimate the fair value of the reporting unit. Critical estimates in the determination of the fair value of each reporting unit include, but are not limited to, future expected cash flows based on estimates of future sales volumes, sales prices, production costs, and discount rates. These estimates generally constitute unobservable Level 3 inputs under the fair value hierarchy. An adjustment to goodwill will be recorded for any goodwill that is determined to be impaired. As of June 30, 2023, the Company identified an indicator of impairment and determined it was no longer more likely than not that the fair value of the Company’s sole reporting unit was in excess of the carrying value. As a result, a quantitative goodwill and separately identifiable intangible asset impairment assessment was performed as of June 30, 2023, and the Company recorded an impairment of the carrying value of goodwill of $19,226, which represented the entire goodwill balance prior to the impairment charge. The goodwill impairment charge had an immaterial impact on the provision for income taxes. The Company performed an interim impairment analysis for the Ingredients reporting unit using a discounted cash flow model (a form of the income approach), utilizing Level 3 unobservable inputs. The Company’s estimates in this analysis included, but were not limited to, future cash flow projections, the weighted average cost of capital, the terminal growth rate, and the tax rate. The impairment charge reflects an ongoing assessment of current market conditions and potential strategic investments to continue commercializing its proprietary products and pursue other strategic investments in the industry. For the quarter ended June 30, 2023, the Company determined there was no impairment of its intangible assets. Stock Award Modifications In June 2023, the Company announced that the former Chief Executive Officer (CEO) agreed to resign from the Company effective June 15, 2023, and entered into a consulting agreement to provide transition support through June 15, 2024. In connection with the separation, the Company modified the terms of its former CEO’s outstanding stock awards to (1) continue vesting over the consulting period through June 15, 2024 if continuous service is achieved with the Company; (2) extend the period during which the vested stock options may be exercised for a period of 90 days following the termination of consultancy, if continuous service is achieved with the Company; and (3) extend the period in which performance-based vesting conditions for restricted stock units may be achieved through June 15, 2024, if continuous service is achieved with the Company. As a result of the stock award modifications, the Company recorded a $6.2 million decrease to stock-based compensation expense for the three and six months ended June 30, 2023. Recently Issued Accounting Guidance Not Yet Effective In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. In December 2022, the FASB issued ASU 2022-06 and deferred the sunset date of the Reference Rate Reform (Topic 848) from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The Company has a floating rate revolving credit facility, a term loan and an equipment loan due in 2024 and plans on phasing out LIBOR as a reference rate before December 31, 2024. In August 2020, the FASB issued ASU 2020-06, Debt (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features that are not required to be accounted for as derivatives under ASC 815, Derivatives and Hedging , or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract. ASU 2020-06 is effective for annual reporting periods beginning after December 15, 2023, and interim periods within those years, and early adoption is permitted. The Company is currently evaluating the impact ASU 2020-06 will have on its condensed consolidated financial statements.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations ZFS Creston On December 30, 2021, we completed the acquisition of a food-grade white flake and soy flour manufacturing operation and related assets through the acquisition of ZFS Creston, LLC, a Delaware limited liability company (“ZFS Creston”), for aggregate cash consideration of $103,099, which includes a working capital adjustment payment of $1,034 in the first quarter of 2022.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On December 29, 2022, the Company entered into a Stock Purchase Agreement (the “Stock Sale”) to sell J&J Produce, Inc. (“J&J”) and all of the outstanding equity securities of J&J’s subsidiaries for aggregate cash consideration of $3,000, subject to certain adjustments. In connection with the Stock Purchase Agreement, on December 29, 2022, J&J entered into a Purchase and Sale Agreement, pursuant to which J&J sold certain real and personal property comprising an agricultural production and processing facility located in Vero Beach, Florida, for an aggregate purchase price of $18,000, subject to certain adjustments. Certain property was leased back to J&J pursuant to a separate agricultural and facility lease for a short period of time. On June 30, 2023, the Company closed the Stock Sale. Upon closing, certain immaterial assets and liabilities of J&J were reclassified from held for sale to held and used as of June 30, 2023. No adjustment to the carrying value of those assets and liabilities was required based on a current reassessment of the fair value of those assets and liabilities. J&J was the main component of the Company’s former Fresh segment. The Company’s strategic shift to exit the Fresh segment met the criteria to be classified as businesses held for sale and presented as a discontinued operation. Accordingly, the Company reclassified the results of operations of the Fresh segment to discontinued operations in its condensed consolidated statements of operations for all periods presented. The carrying amounts of the assets and liabilities of the discontinued operations were as follows: June 30, December 31, Assets Current assets: Cash and cash equivalents $ 3,652 $ 356 Accounts receivable, net 254 9,808 Inventories, net — 11,633 Prepaid expenses and other current assets 320 1,710 Total assets from discontinued operations $ 4,226 $ 23,507 Liabilities Current liabilities: Accounts payable $ 2,083 $ 9,743 Current lease liability — 1,890 Current maturities of long-term debt — 3,194 Accrued expenses and other liabilities 1,948 1,614 Total liabilities from discontinued operations $ 4,031 $ 16,441 As of December 31, 2022, the fair value of the debt included in the liabilities from discontinued operations was $3,305. Fair values are based upon valuation models using market information, which fall into Level 3 in the fair value hierarchy. The Company capitalized no interest costs into property and equipment for the three and six months ended June 30, 2023. The Company capitalized interest costs of $383 and $780, respectively, into property and equipment for the three and six months ended June 30, 2022. The operating results of the discontinued operations, net of tax, were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues $ 9,902 $ 17,116 $ 32,237 $ 43,435 Cost of sales 15,398 17,282 34,131 39,888 Gross profit (5,496) (166) (1,894) 3,547 Operating expenses: Research and development — 11 — 22 Selling, general and administrative expenses 1,883 2,213 3,337 5,082 Total operating expenses 1,883 2,224 3,337 5,104 Interest expense 7 82 14 82 Other expense (income), net 340 (16) 690 (31) Net loss from discontinued operations, before income taxes (7,726) (2,456) (5,935) (1,608) Net loss from discontinued operations, net of income taxes $ (7,726) $ (2,456) $ (5,935) $ (1,608) Depreciation, amortization and significant operating and investing items in the condensed consolidated statements of cash flows for the discontinued operations are as follows: Six Months Ended June 30, 2023 2022 Operating activities Depreciation and amortization $ — $ 1,002 Bad debt expense 53 — Net loss on divestiture 172 — Investing activities Payments for acquisitions of property and equipment — (3,129) Net proceeds from divestiture 1,928 —

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and liabilities recorded at fair value on a recurring basis on the balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 — Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 — Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our financial instruments consist of cash and cash equivalents, restricted cash, marketable securities, accounts receivable, commodity derivatives, commodity contracts, accounts payable, accrued liabilities, warrant liabilities, conversion option liabilities, and notes payable. As of June 30, 2023 and December 31, 2022, we had cash and cash equivalents of $13,882 and $25,053, respectively, which includes money market funds with maturities of less than three months. As of June 30, 2023 and December 31, 2022, we had restricted cash of $19,840 and $17,912. At June 30, 2023 and December 31, 2022, the carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximated fair value due to their short maturities. The following tables provide the financial instruments measured at fair value on a recurring basis based on the fair value hierarchy: June 30, 2023 Level 1 Level 2 Level 3 Total Assets U.S. treasury securities $ 20,259 $ — $ — $ 20,259 Corporate bonds $ — $ 45,934 $ — $ 45,934 Preferred stock — 14,321 — 14,321 Marketable securities $ 20,259 $ 60,255 $ — $ 80,514 Liabilities Warrant liabilities $ 3,409 $ — $ 8,323 $ 11,732 Conversion option liabilities — — 1,983 1,983 Total liabilities $ 3,409 $ — $ 10,306 $ 13,715 December 31, 2022 Level 1 Level 2 Level 3 Total Assets U.S. treasury securities $ 1,059 $ — $ — $ 1,059 Corporate bonds — 116,616 — 116,616 Preferred stock — 14,446 — 14,446 Marketable securities $ 1,059 $ 131,062 $ — $ 132,121 Liabilities Warrant liabilities $ 5,469 $ — $ 18,816 $ 24,285 Conversion option liabilities — — 8,091 8,091 Total liabilities $ 5,469 $ — $ 26,907 $ 32,376 There were no transfers of financial assets or liabilities into or out of Level 1, Level 2, or Level 3 for 2023 or 2022. All of the Company’s derivative contracts are centrally cleared and therefore are cash-settled on a daily basis. This results in the derivative contracts having a fair value that approximates zero on a daily basis. Therefore, there are no derivative assets or liabilities included in the table above. Refer to Note 7 , Derivatives for further discussion. The warrant liabilities consist of PIPE Investment Warrants, Convertible Notes Payable Warrants, Notes Payable Warrants, Private Placement Warrants, and Public Warrants. History, fair value hierarchy, valuation techniques and inputs of those warrants are more fully described in Note 5, Fair Value Measurements and Note 15, Warrant Liabilities , to the Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2022. Pursuant to the Third Amendment to the Convertible Loan and Security Agreement, the exercise price of the Convertible Notes Payable Warrants (the “Conversion Price”) is the lowest of (i) $2.47; (ii) the 5-day VWAP determined as of March 10, 2023, where “5-day VWAP” means the volume-weighted average price of the Company’s Common Stock, determined for the five consecutive trading days ending on the last trading day immediately preceding the applicable date; and (iii) the effective price per share of any bona fide equity offering prior to March 10, 2024. As such, these warrant liabilities are now valued based on a Monte Carlo simulation that values the warrants using a probability weighted discounted cash flow model, which are considered Level 3 liabilities, whereas previously they were valued based on Black-Scholes option pricing model. The significant inputs to the valuation of Level 3 warrants and conversion option liabilities as of June 30, 2023 were as follows: PIPE Investment Warrants Private Placement Warrants Convertible Notes Payable Warrants Conversion Option Liabilities Exercise Price $ 3.90 $ 11.50 $ 2.27 $ 2.47 Stock Price $ 1.30 $ 1.30 $ 1.30 $ 1.30 Volatility 96.1 % 105.0 % 97.5 % 74.9 % Remaining term in years 3.74 3.25 3.50 1.50 Risk-free rate 4.4 % 4.5 % 4.4 % 5.1 % Dividend yield — % — % — % — % The significant inputs to the valuation of Level 3 warrants and conversion option liabilities as of December 31, 2022 were as follows: PIPE Investment Warrants Private Placement Warrants Convertible Notes Payable Warrants Conversion Option Liabilities Exercise Price $ 3.90 $ 11.50 $ 2.47 $ 2.47 Stock Price $ 2.55 $ 2.55 $ 2.55 $ 2.55 Volatility 90.4 % 84.0 % 89.0 % 64.7 % Remaining term in years 4.24 3.75 4.00 2.00 Risk-free rate 4.0 % 4.1 % 4.1 % 4.4 % Dividend yield — % — % — % — % The following table summarizes the changes in the warrants and conversion option liabilities categorized as Level 3 for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended Balance, beginning of period $ 8,471 $ 26,907 Changes in estimated fair value 1,835 (16,601) Ending balance, June 30, 2023 $ 10,306 $ 10,306 Three Months Ended Six Months Ended Balance, beginning of period $ 45,169 $ 42,457 Changes in estimated fair value (6,101) (29,993) Issuance of PIPE Investment warrants — 26,604 Ending balance, June 30, 2022 $ 39,068 $ 39,068 Fair Value of Long-Term Debt As of June 30, 2023 and December 31, 2022, the fair value of the Company’s debt, including amounts classified as current, was $103,712 and $103,814, respectively. Fair values are based upon valuation models using market information, which fall into Level 3 in the fair value hierarchy.

Investments in Available-for-Sa

Investments in Available-for-Sale Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in Available-for-Sale Securities	Investments in Available-for-Sale SecuritiesThe Company has invested in marketable debt securities, primarily investment-grade corporate bonds, preferred stock, and highly liquid U.S Treasury securities, which are held in the custody of a major financial institution. These securities are classified as available-for-sale and, accordingly, the unrealized gains and losses are recorded through other comprehensive income and loss. Marketable securities classified as available-for-sale securities are summarized below: June 30, 2023 Amortized Cost Gross Gross Fair Value U.S. treasury securities $ 20,939 $ — $ (27) $ 20,912 Corporate bonds 47,818 1 (2,408) 45,411 Preferred stock 15,144 18 (971) 14,191 Total Investments $ 83,901 $ 19 $ (3,406) $ 80,514 December 31, 2022 Amortized Cost Gross Gross Fair Value U.S. treasury securities $ 1,059 $ — $ — $ 1,059 Corporate bonds 122,257 — (5,641) 116,616 Preferred stock 15,454 — (1,008) 14,446 Total Investments $ 138,770 $ — $ (6,649) $ 132,121 The aggregate fair value of investments with unrealized losses that had been owned for less than a year was $36,318 and $66,296 as of June 30, 2023 and December 31, 2022, respectively. The aggregate fair value of investments with unrealized losses that had been owned for more than one year was $36,679 and $64,723 as of June 30, 2023 and December 31, 2022, respectively. Available-for-sale investments outstanding as of June 30, 2023, classified as marketable securities in the condensed consolidated balance sheets, have maturity dates ranging from the third quarter of 2023 through the fourth quarter of 2026. The fair value of marketable securities as of June 30, 2023 with maturities within one year and one to five years is $50,353 and $30,161, respectively. The Company classifies available-for-sale investments as current based on the nature of the investments and their availability to provide cash for use in current operations, if needed.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Corporate Risk Management Activities The Company uses exchange-traded futures to manage price risk of fluctuating Chicago Board of Trade prices related to forecasted purchases and sales of soybeans and soybean related products in the normal course of business. These risk management activities are actively monitored for compliance with the Company’s risk management policies. As of June 30, 2023, the Company held financial futures related to a portion of its forecasted purchases of soybeans for an aggregate notional volume of 6,360 bushels of soybeans; 5,305 bushels of the aggregate notional volume will settle in 2023 with the remaining 1,055 bushels settling in 2024. As of June 30, 2023, the Company held financial futures related to a portion of its forecasted sales of soybean oil for an aggregate notional volume of 637 pounds of soybean oil; all of which will settle in 2023. As of June 30, 2023, the Company held financial futures related to a portion of its forecasted sales of soybean meal for an aggregate notional volume of 91 tons of soybean meal, all of which will settle in 2023. Tabular Derivatives Disclosures The Company has master netting agreements with its counterparties, which allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. Such netting arrangements reduce the Company’s credit exposure related to these counterparties . As all of the Company’s derivative contracts are centrally cleared and therefore are cash-settled on a daily basis, the fair value approximates zero. The Company’s derivative contracts were as follows: June 30, 2023 December 31, 2022 Asset Derivative Liability Derivative Asset Derivative Liability Derivative Soybeans $ 1,451 $ 2,612 $ 1,112 $ 1,925 Soybean oil 1,104 2,318 533 73 Soybean meal 1,429 — 400 2,414 Effect of daily cash settlement (3,984) (4,930) (2,045) (4,412) Net derivatives as classified in the balance sheet $ — $ — $ — $ — The Company had a current asset representing excess cash collateral posted to a margin account of $757 and $2,714 as of June 30, 2023 and December 31, 2022, respectively. These amounts are not included with the derivatives presented in the table above and are included in prepaid expenses and other current assets in the condensed consolidated balance sheets. Currently, the Company does not seek cash flow hedge accounting treatment for its derivative financial instruments and thus changes in fair value are reflected in current earnings. The tables below show the amounts of pre-tax gains and losses related to the Company’s derivatives: Three Months Ended Three Months Ended Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Soybeans $ (1,410) $ 479 $ (931) $ (1,278) $ 1,605 $ 327 Soybean oil 2,093 (1,674) 419 (2,447) 1,672 (775) Soybean meal 3,259 18 3,277 (299) 1,602 1,303 Total $ 3,942 $ (1,177) $ 2,765 $ (4,024) $ 4,879 $ 855 Six Months Ended Six Months Ended Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Soybeans $ (1,247) $ (348) $ (1,595) $ (6,231) $ 1,211 $ (5,020) Soybean oil 2,500 (1,675) 825 (7,405) 207 (7,198) Soybean meal (74) 3,444 3,370 (245) 772 527 Total $ 1,179 $ 1,421 $ 2,600 $ (13,881) $ 2,190 $ (11,691) The Company’s soybean positions are designed to hedge risk related to inventory purchases, therefore the gains and losses on soybean instruments are recorded in cost of sales in the condensed consolidated statements of operations. The Company’s soybean oil and soybean meal positions are designed to hedge risk related to sales transactions therefore the gains and losses on soybean oil and soybean meal instruments are recorded in revenues in the condensed consolidated statements of operations. The Company classifies the cash effects of its derivatives within the “Cash Flows from Operating Activities” section of the condensed consolidated statements of cash flows.

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consist of the following: June 30, December 31, Raw materials and supplies $ 21,510 $ 37,483 Work-in-process 7,230 4,977 Finished goods 13,930 19,650 Total inventories $ 42,670 $ 62,110 Work-in-process inventory consists of seed provided to contracted seed producers and growers with which we hold a purchase option for, or are required to purchase the future harvested seeds or grains. It also includes crops under production which represent the direct costs of land preparation, seed, planting, growing, and maintenance.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt June 30, December 31, DDB Term loan, due April 2025 $ 6,825 $ 7,393 DDB Equipment loan, due July 2024 875 1,225 Convertible Notes Payable, due January 2025 112,700 110,700 Equipment Financing, due March 2025 681 873 Notes payable, varying maturities through June 2026 71 81 Less: unamortized debt discount and debt issuance costs (13,721) (14,039) 107,431 106,233 Less: current maturities of long-term debt (2,246) (2,242) Long-term debt $ 105,185 $ 103,991 Term Loan, Equipment Loan and Revolver In April 2019, our wholly-owned subsidiary, Dakota Dry Bean, Inc. (“DDB”) entered into a Credit Agreement comprised of a $14,000 aggregate principal amount of floating rate, five-year term loan (“DDB Term Loan”), a $3,500 floating rate, five-year loan to be used for facility expansion (“DDB Equipment Loan”), and a $6,000 floating rate revolving credit facility (“DDB Revolver”), which is renewed annually (together the “Credit Agreement”). In the fourth quarter of 2022, the DDB Revolver maturity date was extended to November 2023. In the second quarter of 2023, the DDB Term Loan maturity date was extended to April 2025. As of June 30, 2023, the interest rate is U.S. prime rate plus 0.75% on the DDB Term Loan and DDB Equipment Loan, and U.S. prime rate plus 0.25% on the DDB Revolver. The Credit Agreement is secured by substantially all of DDB’s real and personal property and is guaranteed, in part, by Benson Hill, Inc., DDB’s parent company, to a maximum of $7,000. The DDB Term Loan is payable in equal quarterly installments of $284 plus interest with the remaining balance of $4,834 due in April 2025. The DDB Equipment Loan is payable in equal quarterly installments of $175 plus interest through July 2024. Under the Credit Agreement, DDB and the Company must comply with certain financial covenants based on DDB’s operations, including a minimum working capital covenant, a minimum net worth covenant, a funded debt to EBITDA ratio covenant, and a fixed charge coverage ratio covenant. Benson Hill, Inc., as guarantor, must also comply with a minimum cash covenant. The Credit Agreement also contains various restrictions on the Company’s activities, including restrictions on indebtedness, liens, investments, distributions, acquisitions and dispositions, control changes, transactions with affiliates, establishment of bank and brokerage accounts, sale-leaseback transactions, margin stocks, hazardous substances, hedging, and management agreem ents. During the second quarter of 2023, the Company was in compliance with the financial covenants under the Credit Agreement. Convertible Notes Payable In December 2021, the Company entered into a financing agreement with an investment firm (the “Convertible Loan and Security Agreement”), which included a commitment by the lender to make term loans available to the Company in an amount of up to $100,000 with $80,000 available immediately. Under the original Convertible Loan and Security Agreement, upon the Company’s achievement of certain milestones, a second tranche of $20,000 became available on June 30, 2022 and the Company could elect to extend the interest-only period from 12 to 24 months and the maturity date by six months as of September 30, 2022. The Company executed term notes with the lender in December 2021 in the aggregate amount of $80,000 with an initial term of 36 months payable in interest only, at the greater of (a) the prime rate of interest as published in the Wall Street Journal or (b) 3.25% per annum, plus 5.75% per annum for the first 12 months and principal and interest payments for the remaining 24 months. The term notes are secured by substantially all of the Company’s assets. In June 2022, the Company amended the Convertible Loan and Security Agreement, which changed the definition of gross margin, and modified the Conversion Price and the Exercise Price. The change to the definition of gross margin removed the impact of derivative hedging gains or losses related to future periods and resulted in the Company’s achievement of the milestones required to draw on the second tranche. The Company drew on the full $20,000 available under the second tranche upon entering into this amendment. In November 2022, the Company entered into a second amendment to the Convertible Loan and Security Agreement, which, among other things, changed the definition of Outstanding Shares based on the updated definition of Market Cap Threshold I. Additionally, the required minimum liquidity covenant requirement was reduced from six months to four months. The second amendment also increased the designated interest rate by 25 basis points. Pursuant to the second amendment, the Company achieved the milestones required to extend the interest-only period from 12 to 24 months and extend the maturity date by six months. This extended the interest-free period through 2023 and the maturity date to July 2025. In March 2023, the Company entered into a third amendment to the Convertible Loan and Security Agreement (“Third Amendment”), which, among other things, extended the interest-only period for six months through the second quarter of 2024 and allowed the restricted cash to be counted towards the required minimum liquidity covenant calculation. In addition, the Third Amendment increased the final balloon payment by 200 basis points and reset the prime rate floor from 5.75% to 7.75%. Upon maturity or other satisfaction of the term notes, a final payment (in addition to other payments of principal and interest) equal to $12,700 is payable by the Company to the lenders. In the event the term notes are prepaid, a prepayment fee is due, ranging from 1% to 6% of the principal amount of the term notes, based upon the time from the initial closing to the prepayment date. At any time after six months and before 42 months from the closing date of the initial term notes, up to $20,000 of the principal amount of the term loans then outstanding may be converted (at the lender’s option) into shares of the Company’s common stock. The conversion option is subject to: (a) the closing sales price of the Company’s common stock for each of the seven consecutive trading days immediately preceding the conversion, being greater than or equal to the conversion price; (b) the shares of the Company’s common stock issued in connection with any such conversion not exceeding 20% of the total trading volume of the Company’s common stock for the 22 consecutive trading days immediately prior to and including the effective date of the conversion; and (c) all lenders’ pro forma shares of the Company’s Common Stock resulting from the conversion option, when added to all lenders’ pro forma shares of the Company’s common stock resulting from the exercise of the warrants, not exceeding 2.5% of the number of shares of the Company’s common stock outstanding at the time of the conversion. As of June 30, 2023, the lender has not yet exercised their conversion option for any portion of the outstanding principal. The fair value of the conversion option, estimated at $8,783 at issuance, was recorded as a debt discount, which is amortized over the life of the term notes using the effective interest method and recorded as interest expense. Under the terms of the Convertible Loan and Security Agreement, the Company must comply with certain affirmative, negative, and financial covenants. These covenants are primarily restrictions on the Company’s activities, including restrictions on indebtedness, liens, dividends, and significant business changes. The Company is required to maintain, at all times, a minimum liquidity equal to or greater than four months. The Company was in compliance with the financial covenants under the Convertible Loan and Security Agreement during the six months ended June 30, 2023. Equipment Financing In March 2022, the Company entered into a sale-leaseback transaction relating to certain of the Company’s equipment. The Company evaluated whether the transaction qualified as a sale under ASC 606 and ultimately determined that as the leases are classified as financing leases under ASC 842, the transaction did not qualify as a sale and therefore control of the equipment was not transferred. Therefore, the proceeds from the sales of $1,160 were recorded as a financing liability in 2022. The Company will make monthly payments of $33 under the financing arrangement for a term of 36 months.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: June 30, December 31, Payroll and employee benefits $ 7,156 $ 12,306 Insurance premiums 951 4,687 Professional services 1,034 2,842 Research and development 537 924 Inventory 393 530 Interest 129 167 Contract liability 8,305 9,965 Other 3,719 2,014 $ 22,224 $ 33,435

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s effective tax rate was 0% for the three and six months ended June 30, 2023, and 2022. The 2023 and 2022 effective tax rates differed from the statutory rate of 21% primarily due to the fact that the Company recorded no income tax benefit on the Company’s pretax losses as the Company recorded a full valuation allowance globally. The tax benefit recorded in 2023 relates primarily to the reversal of deferred tax liabilities due to the impairment of goodwill.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Comprehensive Income	Comprehensive Income The Company’s other comprehensive income (loss) (“OCI”) consists of unrealized gains and losses on marketable debt securities classified as available for sale and foreign currency translation adjustments from its subsidiaries in Brazil and Canada. The following table shows changes in accumulated other comprehensive income (“AOCI”) by component for the three and six months ended June 30, 2023 and 2022: Cumulative Foreign Currency Translation Unrealized Gains/(Losses) on Marketable Securities Total Balance as of March 31, 2023 $ (385) $ (5,854) $ (6,239) Other comprehensive income before reclassifications — 4,662 4,662 Amounts reclassified from AOCI — (1,994) (1,994) Other comprehensive income — 2,668 2,668 Balance at June 30, 2023 $ (385) $ (3,186) $ (3,571) Balance at December 31, 2022 $ (385) $ (6,710) $ (7,095) Other comprehensive income before reclassifications — 6,568 6,568 Amounts reclassified from AOCI — (3,044) (3,044) Other comprehensive income — 3,524 3,524 Balance at June 30, 2023 $ (385) $ (3,186) $ (3,571) Balance as of March 31, 2022 $ (441) $ (3,286) $ (3,727) Other comprehensive income (loss) before reclassifications 20 (4,393) (4,373) Amounts reclassified from AOCI — 1,022 1,022 Other comprehensive income (loss) 20 (3,371) (3,351) Balance at June 30, 2022 $ (421) $ (6,657) $ (7,078) Balance at December 31, 2021 $ (376) $ (727) $ (1,103) Other comprehensive loss before reclassifications (45) (8,159) (8,204) Amounts reclassified from AOCI — 2,229 2,229 Other comprehensive loss (45) (5,930) (5,975) Balance at June 30, 2022 $ (421) $ (6,657) $ (7,078) Amounts reclassified from AOCI were reported within “Other (income) expense, net” on the condensed consolidated statements of operations. The Company’s accounting policy is to release the income tax effects (if applicable) from AOCI when the individual units of account are sold.

Loss Per Common Share

Loss Per Common Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Loss Per Common Share	Loss Per Common ShareThe Company computes basic net income (loss) per common share using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed using the weighted average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities may consist of warrants, stock options and restricted stock units. The dilutive effect of outstanding warrants, stock options and restricted stock units are reflected in diluted earnings per share by application of the treasury stock method. The weighted average share impact of warrants, stock options and restricted stock units that were excluded from the calculation of diluted shares outstanding due to the Company incurring a net loss for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Anti-dilutive common share equivalents: Warrants — — — 83 Stock options 674 3,813 1,149 4,266 Restricted stock units 9,001 5,285 7,970 4,102 Total anti-dilutive common share equivalents 9,675 9,098 9,119 8,451 The following table sets forth the computation for basic and diluted net loss from continuing operations per common share: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss from continuing operations $ (49,115) $ (25,098) $ (53,960) $ (42,522) Denominator: Weighted average common shares outstanding, basic and diluted 187,725 185,530 187,421 173,189 Net loss from continuing operations per common share, basic and diluted $ (0.26) $ (0.14) $ (0.29) $ (0.24)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company accrues for cost related to contingencies when a loss is probable, and the amount is reasonably determinable. Disclosure of contingencies is included in the condensed consolidated financial statements when it is at least reasonably possible that a material loss or an additional material loss in excess of amounts already accrued may be incurred. For all litigation matters, the accruals were immaterial as of June 30, 2023 and December 31, 2022. Other Commitments As of June 30, 2023, the Company has committed to purchase from seed producers and growers at dates throughout 2023 and 2024 at fixed prices aggregating to $55,954 based on commodity futures or market prices, other payments to growers, and estimated yields per acre, of which $37,964 are due within one year. In addition to the obligations for which the price is fixed or determinable, the Company has committed to purchase from seed producers and growers 576 bushels throughout 2023 and 2024 for which the pricing is currently variable. These amounts are not recorded in the condensed consolidated financial statements because the Company has not taken delivery of the grain or seed as of June 30, 2023 and due to the fact that the grain or seed are subject to specified quality standards prior to delivery.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment InformationIn December 2022, the Company divested its Fresh segment and reclassified the related financial information to discontinued operations for all periods presented. As the Company divested its Fresh segment, the Company re-evaluated its operating and reportable segments and concluded that it operates under one operating segment and one reportable segment, Ingredients, as its chief operating decision maker (“CODM”) reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources and evaluating financial performance. The Company’s current business delivers healthy food ingredients derived from soybean seeds, meal and oil and processed yellow peas. Although the CODM assesses performance and allocates resources on a consolidated basis, the Company has relevant product level revenue disaggregation. Specifically, the Company’s revenue can be disaggregated into the following product categories: Proprietary and Non-Proprietary. Proprietary revenue is defined as any sale of a proprietary bean, byproduct from crushing a proprietary bean, or a blend of proprietary byproducts with commodity grade byproducts. Non-Proprietary revenue is all other revenue from non-Proprietary sources. Revenues and operating results for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues Domestic $ 103,529 $ 91,230 $ 209,550 $ 155,704 International 5,509 2,401 34,131 4,053 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 Point in time $ 108,743 $ 93,544 $ 240,844 $ 159,618 Over time 295 87 2,837 139 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 Proprietary $ 18,601 $ 12,172 $ 43,924 $ 26,262 Non-Proprietary 90,437 81,459 199,757 133,495 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 The CODM uses Adjusted EBITDA to review and assess the operating performance of the Company. The Company defines Adjusted EBITDA as net loss from continuing operations excluding income taxes, interest, depreciation, amortization, stock-based compensation, changes in fair value of warrants and conversion option, goodwill and long-lived asset impairment, restructuring-related costs (including severance costs) and the impact of significant non-recurring items. Adjustments to reconcile net loss from continuing operations to Adjusted EBITDA for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss from continuing operations $ (49,115) $ (25,098) $ (53,960) $ (42,522) Interest expense, net 6,874 3,442 13,246 9,830 Income tax expense (benefit) (138) 56 (123) 17 Depreciation and amortization 5,333 5,048 10,596 9,940 Stock-based compensation (4,073) 5,676 (1,259) 11,359 Changes in fair value of warrants and conversion option 3,036 (5,899) (18,660) (37,640) Impairment of goodwill 19,226 — 19,226 — Severance 1,126 124 1,238 289 Other 1,642 2,649 2,874 3,584 Total Adjusted EBITDA $ (16,089) $ (14,002) $ (26,822) $ (45,143)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss attributable to common stockholders	$ (56,841)	$ (27,554)	$ (59,895)	$ (44,130)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial reporting and SEC regulations.
Principles of Consolidation	The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant management estimates include those with respect to allowance for doubtful accounts, reserves for inventory obsolescence, the recoverability of long-lived assets, intangibles and goodwill and the estimated value of our warrant liabilities and conversion option liabilities.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all short-term, highly liquid investments with maturities of 90 days or less at the acquisition date to be cash equivalents. Restricted cash primarily represents cash proceeds from the sale of certain assets pursuant to the covenants with a lender. Restricted cash is classified as non-current if the Company expects that the cash will remain restricted for a period greater than one year. Current restricted cash is included in the prepaid expenses and other current assets on the condensed consolidated balance sheets.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill, arising from a business combination as the excess of purchase price and related costs over the fair value of identifiable assets acquired and liabilities assumed is not amortized and is subject to an annual impairment test as of December 1, unless events indicate an interim test is required. In performing this impairment test, management will first qualitatively assess indicators of a reporting unit’s fair value. If, after completing the qualitative assessment, management believes it is likely that a reporting unit is impaired, a discounted cash flow analysis is prepared to estimate the fair value of the reporting unit. Critical estimates in the determination of the fair value of each reporting unit include, but are not limited to, future expected cash flows based on estimates of future sales volumes, sales prices, production costs, and discount rates. These estimates generally constitute unobservable Level 3 inputs under the fair value hierarchy. An adjustment to goodwill will be recorded for any goodwill that is determined to be impaired. As of June 30, 2023, the Company identified an indicator of impairment and determined it was no longer more likely than not that the fair value of the Company’s sole reporting unit was in excess of the carrying value. As a result, a quantitative goodwill and separately identifiable intangible asset impairment assessment was performed as of June 30, 2023, and the Company recorded an impairment of the carrying value of goodwill of $19,226, which represented the entire goodwill balance prior to the impairment charge. The goodwill impairment charge had an immaterial impact on the provision for income taxes. The Company performed an interim impairment analysis for the Ingredients reporting unit using a discounted cash flow model (a form of the income approach), utilizing Level 3 unobservable inputs. The Company’s estimates in this analysis included, but were not limited to, future cash flow projections, the weighted average cost of capital, the terminal growth rate, and the tax rate. The impairment charge reflects an ongoing assessment of current market conditions and potential strategic investments to continue commercializing its proprietary products and pursue other strategic investments in the industry. For the quarter ended June 30, 2023, the Company determined there was no impairment of its intangible assets.
Recently Issued Accounting Guidance Not Yet Effective	Recently Issued Accounting Guidance Not Yet Effective In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. In December 2022, the FASB issued ASU 2022-06 and deferred the sunset date of the Reference Rate Reform (Topic 848) from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The Company has a floating rate revolving credit facility, a term loan and an equipment loan due in 2024 and plans on phasing out LIBOR as a reference rate before December 31, 2024. In August 2020, the FASB issued ASU 2020-06, Debt (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features that are not required to be accounted for as derivatives under ASC 815, Derivatives and Hedging , or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract. ASU 2020-06 is effective for annual reporting periods beginning after December 15, 2023, and interim periods within those years, and early adoption is permitted. The Company is currently evaluating the impact ASU 2020-06 will have on its condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets, inclusive of $3,652 of cash and cash equivalents reported within current assets of discontinued operations as of June 30, 2023 to the amount shown in the condensed consolidated statements of cash flows. There was no restricted cash as of June 30, 2022. June 30, Cash and cash equivalents $ 17,534 Restricted cash, current 19,840 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 37,374
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets, inclusive of $3,652 of cash and cash equivalents reported within current assets of discontinued operations as of June 30, 2023 to the amount shown in the condensed consolidated statements of cash flows. There was no restricted cash as of June 30, 2022. June 30, Cash and cash equivalents $ 17,534 Restricted cash, current 19,840 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 37,374

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The carrying amounts of the assets and liabilities of the discontinued operations were as follows: June 30, December 31, Assets Current assets: Cash and cash equivalents $ 3,652 $ 356 Accounts receivable, net 254 9,808 Inventories, net — 11,633 Prepaid expenses and other current assets 320 1,710 Total assets from discontinued operations $ 4,226 $ 23,507 Liabilities Current liabilities: Accounts payable $ 2,083 $ 9,743 Current lease liability — 1,890 Current maturities of long-term debt — 3,194 Accrued expenses and other liabilities 1,948 1,614 Total liabilities from discontinued operations $ 4,031 $ 16,441 The operating results of the discontinued operations, net of tax, were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues $ 9,902 $ 17,116 $ 32,237 $ 43,435 Cost of sales 15,398 17,282 34,131 39,888 Gross profit (5,496) (166) (1,894) 3,547 Operating expenses: Research and development — 11 — 22 Selling, general and administrative expenses 1,883 2,213 3,337 5,082 Total operating expenses 1,883 2,224 3,337 5,104 Interest expense 7 82 14 82 Other expense (income), net 340 (16) 690 (31) Net loss from discontinued operations, before income taxes (7,726) (2,456) (5,935) (1,608) Net loss from discontinued operations, net of income taxes $ (7,726) $ (2,456) $ (5,935) $ (1,608) Depreciation, amortization and significant operating and investing items in the condensed consolidated statements of cash flows for the discontinued operations are as follows: Six Months Ended June 30, 2023 2022 Operating activities Depreciation and amortization $ — $ 1,002 Bad debt expense 53 — Net loss on divestiture 172 — Investing activities Payments for acquisitions of property and equipment — (3,129) Net proceeds from divestiture 1,928 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value	The following tables provide the financial instruments measured at fair value on a recurring basis based on the fair value hierarchy: June 30, 2023 Level 1 Level 2 Level 3 Total Assets U.S. treasury securities $ 20,259 $ — $ — $ 20,259 Corporate bonds $ — $ 45,934 $ — $ 45,934 Preferred stock — 14,321 — 14,321 Marketable securities $ 20,259 $ 60,255 $ — $ 80,514 Liabilities Warrant liabilities $ 3,409 $ — $ 8,323 $ 11,732 Conversion option liabilities — — 1,983 1,983 Total liabilities $ 3,409 $ — $ 10,306 $ 13,715 December 31, 2022 Level 1 Level 2 Level 3 Total Assets U.S. treasury securities $ 1,059 $ — $ — $ 1,059 Corporate bonds — 116,616 — 116,616 Preferred stock — 14,446 — 14,446 Marketable securities $ 1,059 $ 131,062 $ — $ 132,121 Liabilities Warrant liabilities $ 5,469 $ — $ 18,816 $ 24,285 Conversion option liabilities — — 8,091 8,091 Total liabilities $ 5,469 $ — $ 26,907 $ 32,376
Schedule of Significant Inputs to Valuation of Level 3 Warrant and Conversion Liabilities	The significant inputs to the valuation of Level 3 warrants and conversion option liabilities as of June 30, 2023 were as follows: PIPE Investment Warrants Private Placement Warrants Convertible Notes Payable Warrants Conversion Option Liabilities Exercise Price $ 3.90 $ 11.50 $ 2.27 $ 2.47 Stock Price $ 1.30 $ 1.30 $ 1.30 $ 1.30 Volatility 96.1 % 105.0 % 97.5 % 74.9 % Remaining term in years 3.74 3.25 3.50 1.50 Risk-free rate 4.4 % 4.5 % 4.4 % 5.1 % Dividend yield — % — % — % — % The significant inputs to the valuation of Level 3 warrants and conversion option liabilities as of December 31, 2022 were as follows: PIPE Investment Warrants Private Placement Warrants Convertible Notes Payable Warrants Conversion Option Liabilities Exercise Price $ 3.90 $ 11.50 $ 2.47 $ 2.47 Stock Price $ 2.55 $ 2.55 $ 2.55 $ 2.55 Volatility 90.4 % 84.0 % 89.0 % 64.7 % Remaining term in years 4.24 3.75 4.00 2.00 Risk-free rate 4.0 % 4.1 % 4.1 % 4.4 % Dividend yield — % — % — % — %
Schedule of Changes in Warrant and Conversion Option Liabilities	The following table summarizes the changes in the warrants and conversion option liabilities categorized as Level 3 for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended Balance, beginning of period $ 8,471 $ 26,907 Changes in estimated fair value 1,835 (16,601) Ending balance, June 30, 2023 $ 10,306 $ 10,306 Three Months Ended Six Months Ended Balance, beginning of period $ 45,169 $ 42,457 Changes in estimated fair value (6,101) (29,993) Issuance of PIPE Investment warrants — 26,604 Ending balance, June 30, 2022 $ 39,068 $ 39,068

Investments in Available-for-_2

Investments in Available-for-Sale Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Securities Classified as Available-for-Sale	Marketable securities classified as available-for-sale securities are summarized below: June 30, 2023 Amortized Cost Gross Gross Fair Value U.S. treasury securities $ 20,939 $ — $ (27) $ 20,912 Corporate bonds 47,818 1 (2,408) 45,411 Preferred stock 15,144 18 (971) 14,191 Total Investments $ 83,901 $ 19 $ (3,406) $ 80,514 December 31, 2022 Amortized Cost Gross Gross Fair Value U.S. treasury securities $ 1,059 $ — $ — $ 1,059 Corporate bonds 122,257 — (5,641) 116,616 Preferred stock 15,454 — (1,008) 14,446 Total Investments $ 138,770 $ — $ (6,649) $ 132,121

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Contracts	The Company’s derivative contracts were as follows: June 30, 2023 December 31, 2022 Asset Derivative Liability Derivative Asset Derivative Liability Derivative Soybeans $ 1,451 $ 2,612 $ 1,112 $ 1,925 Soybean oil 1,104 2,318 533 73 Soybean meal 1,429 — 400 2,414 Effect of daily cash settlement (3,984) (4,930) (2,045) (4,412) Net derivatives as classified in the balance sheet $ — $ — $ — $ —
Schedule of Pre-tax Gains and Losses	The tables below show the amounts of pre-tax gains and losses related to the Company’s derivatives: Three Months Ended Three Months Ended Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Soybeans $ (1,410) $ 479 $ (931) $ (1,278) $ 1,605 $ 327 Soybean oil 2,093 (1,674) 419 (2,447) 1,672 (775) Soybean meal 3,259 18 3,277 (299) 1,602 1,303 Total $ 3,942 $ (1,177) $ 2,765 $ (4,024) $ 4,879 $ 855 Six Months Ended Six Months Ended Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Gain (loss) realized on Unrealized gain (loss) on Total gain (loss) Soybeans $ (1,247) $ (348) $ (1,595) $ (6,231) $ 1,211 $ (5,020) Soybean oil 2,500 (1,675) 825 (7,405) 207 (7,198) Soybean meal (74) 3,444 3,370 (245) 772 527 Total $ 1,179 $ 1,421 $ 2,600 $ (13,881) $ 2,190 $ (11,691)

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net consist of the following: June 30, December 31, Raw materials and supplies $ 21,510 $ 37,483 Work-in-process 7,230 4,977 Finished goods 13,930 19,650 Total inventories $ 42,670 $ 62,110

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	June 30, December 31, DDB Term loan, due April 2025 $ 6,825 $ 7,393 DDB Equipment loan, due July 2024 875 1,225 Convertible Notes Payable, due January 2025 112,700 110,700 Equipment Financing, due March 2025 681 873 Notes payable, varying maturities through June 2026 71 81 Less: unamortized debt discount and debt issuance costs (13,721) (14,039) 107,431 106,233 Less: current maturities of long-term debt (2,246) (2,242) Long-term debt $ 105,185 $ 103,991

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: June 30, December 31, Payroll and employee benefits $ 7,156 $ 12,306 Insurance premiums 951 4,687 Professional services 1,034 2,842 Research and development 537 924 Inventory 393 530 Interest 129 167 Contract liability 8,305 9,965 Other 3,719 2,014 $ 22,224 $ 33,435

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following table shows changes in accumulated other comprehensive income (“AOCI”) by component for the three and six months ended June 30, 2023 and 2022: Cumulative Foreign Currency Translation Unrealized Gains/(Losses) on Marketable Securities Total Balance as of March 31, 2023 $ (385) $ (5,854) $ (6,239) Other comprehensive income before reclassifications — 4,662 4,662 Amounts reclassified from AOCI — (1,994) (1,994) Other comprehensive income — 2,668 2,668 Balance at June 30, 2023 $ (385) $ (3,186) $ (3,571) Balance at December 31, 2022 $ (385) $ (6,710) $ (7,095) Other comprehensive income before reclassifications — 6,568 6,568 Amounts reclassified from AOCI — (3,044) (3,044) Other comprehensive income — 3,524 3,524 Balance at June 30, 2023 $ (385) $ (3,186) $ (3,571) Balance as of March 31, 2022 $ (441) $ (3,286) $ (3,727) Other comprehensive income (loss) before reclassifications 20 (4,393) (4,373) Amounts reclassified from AOCI — 1,022 1,022 Other comprehensive income (loss) 20 (3,371) (3,351) Balance at June 30, 2022 $ (421) $ (6,657) $ (7,078) Balance at December 31, 2021 $ (376) $ (727) $ (1,103) Other comprehensive loss before reclassifications (45) (8,159) (8,204) Amounts reclassified from AOCI — 2,229 2,229 Other comprehensive loss (45) (5,930) (5,975) Balance at June 30, 2022 $ (421) $ (6,657) $ (7,078)

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Common Share Equivalents	The weighted average share impact of warrants, stock options and restricted stock units that were excluded from the calculation of diluted shares outstanding due to the Company incurring a net loss for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Anti-dilutive common share equivalents: Warrants — — — 83 Stock options 674 3,813 1,149 4,266 Restricted stock units 9,001 5,285 7,970 4,102 Total anti-dilutive common share equivalents 9,675 9,098 9,119 8,451
Schedule of Reconciliation of Basic and Diluted Loss per Common Share	The following table sets forth the computation for basic and diluted net loss from continuing operations per common share: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss from continuing operations $ (49,115) $ (25,098) $ (53,960) $ (42,522) Denominator: Weighted average common shares outstanding, basic and diluted 187,725 185,530 187,421 173,189 Net loss from continuing operations per common share, basic and diluted $ (0.26) $ (0.14) $ (0.29) $ (0.24)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	Revenues and operating results for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues Domestic $ 103,529 $ 91,230 $ 209,550 $ 155,704 International 5,509 2,401 34,131 4,053 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 Point in time $ 108,743 $ 93,544 $ 240,844 $ 159,618 Over time 295 87 2,837 139 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 Proprietary $ 18,601 $ 12,172 $ 43,924 $ 26,262 Non-Proprietary 90,437 81,459 199,757 133,495 Total Revenues $ 109,038 $ 93,631 $ 243,681 $ 159,757 The CODM uses Adjusted EBITDA to review and assess the operating performance of the Company. The Company defines Adjusted EBITDA as net loss from continuing operations excluding income taxes, interest, depreciation, amortization, stock-based compensation, changes in fair value of warrants and conversion option, goodwill and long-lived asset impairment, restructuring-related costs (including severance costs) and the impact of significant non-recurring items. Adjustments to reconcile net loss from continuing operations to Adjusted EBITDA for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss from continuing operations $ (49,115) $ (25,098) $ (53,960) $ (42,522) Interest expense, net 6,874 3,442 13,246 9,830 Income tax expense (benefit) (138) 56 (123) 17 Depreciation and amortization 5,333 5,048 10,596 9,940 Stock-based compensation (4,073) 5,676 (1,259) 11,359 Changes in fair value of warrants and conversion option 3,036 (5,899) (18,660) (37,640) Impairment of goodwill 19,226 — 19,226 — Severance 1,126 124 1,238 289 Other 1,642 2,649 2,874 3,584 Total Adjusted EBITDA $ (16,089) $ (14,002) $ (26,822) $ (45,143)

Description of Business (Detail

Description of Business (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 29, 2022
Debt Instrument [Line Items]
Net loss from continuing operations	$ 49,115,000		$ 25,098,000	$ 53,960,000	$ 42,522,000
Net cash used in operating activities				44,281,000	58,732,000
Capital expenditures				6,956,000	$ 5,637,000
Cash and marketable securities	94,396,000			94,396,000
Restricted cash, current	19,840,000			19,840,000		$ 17,912,000
Accumulated deficit	468,369,000			468,369,000		408,474,000
Term debt and notes payable	107,431,000			107,431,000		$ 106,233,000
Interest only extension term		6 months
Severance charges	1,126,000			1,238,000
Achievement of certain milestones
Debt Instrument [Line Items]
Refinanced facility of up to				100,000,000
Term Debt and Notes Payable
Debt Instrument [Line Items]
Term debt and notes payable	$ 107,431,000			$ 107,431,000
Stock Sale | J&J Produce, Inc.
Debt Instrument [Line Items]
Cash consideration							$ 3,000,000
Purchase price							$ 18,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Restricted Cash		$ 0		$ 0
Cash and cash equivalents	$ 17,534,000		$ 17,534,000
Restricted cash, current	19,840,000		19,840,000		$ 17,912,000
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	37,374,000		37,374,000
Impairment of goodwill	19,226,000	$ 0	19,226,000	$ 0
Decrease to stock-based compensation expense	6,200,000		6,200,000
Stock Sale | J&J Produce, Inc.
Cash and cash equivalents	$ 3,652,000		$ 3,652,000		$ 356,000

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Dec. 30, 2021	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Payments to acquire business			$ 0	$ 1,034
ZFS Creston, LLC
Business Acquisition [Line Items]
Payments to acquire business	$ 103,099
Working capital adjustment payment		$ 1,034

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Stock Sale - J&J Produce, Inc. - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 29, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration						$ 3,000,000
Purchase price						$ 18,000,000
Fair value of debt					$ 3,305,000
Capitalized interest costs	$ 0	$ 383,000	$ 0	$ 780,000

Discontinued Operations - Sched

Discontinued Operations - Schedule of Carrying Amounts of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Total assets from discontinued operations	$ 4,226	$ 23,507
Current liabilities:
Total liabilities from discontinued operations	4,031	16,441
Stock Sale | J&J Produce, Inc.
Current assets:
Cash and cash equivalents	3,652	356
Accounts receivable, net	254	9,808
Inventories, net	0	11,633
Prepaid expenses and other current assets	320	1,710
Total assets from discontinued operations	4,226	23,507
Current liabilities:
Accounts payable	2,083	9,743
Current lease liability	0	1,890
Current maturities of long-term debt	0	3,194
Accrued expenses and other liabilities	1,948	1,614
Total liabilities from discontinued operations	$ 4,031	$ 16,441

Discontinued Operations - Opera

Discontinued Operations - Operating Results of the Discontinued Operations (Details) - J&J Produce, Inc. - Stock Sale - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 9,902	$ 17,116	$ 32,237	$ 43,435
Cost of sales	15,398	17,282	34,131	39,888
Gross profit	(5,496)	(166)	(1,894)	3,547
Operating expenses:
Research and development	0	11	0	22
Selling, general and administrative expenses	1,883	2,213	3,337	5,082
Total operating expenses	1,883	2,224	3,337	5,104
Interest expense	7	82	14	82
Other expense (income), net	340	(16)	690	(31)
Net loss from discontinued operations, before income taxes	(7,726)	(2,456)	(5,935)	(1,608)
Net loss from discontinued operations, net of income taxes	$ (7,726)	$ (2,456)	$ (5,935)	$ (1,608)

Discontinued Operations - Conso

Discontinued Operations - Consolidated Statement of Cash Flows for the Discontinued Operations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Investing activities
Net proceeds from divestiture	$ 1,928	$ 0
Stock Sale | J&J Produce, Inc.
Operating activities
Depreciation and amortization	0	1,002
Bad debt expense	53	0
Net loss on divestiture	172	0
Investing activities
Payments for acquisitions of property and equipment	0	(3,129)
Net proceeds from divestiture	$ 1,928	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narratives (Details) $ / shares in Units, $ in Thousands	1 Months Ended
	Mar. 31, 2023 day $ / shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents		$ 13,882	$ 25,053
Restricted cash, current		19,840	17,912
Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of long-term debt		$ 103,712	$ 103,814
Convertible Loan and Security Agreement | First period | Convertible Notes Payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Conversion stock price (in usd per share) | $ / shares	$ 2.47
Convertible Loan and Security Agreement | Second period | Convertible Notes Payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Common stock trading day | day	5

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liabilities
Conversion option liabilities	$ 1,983	$ 8,091
Corporate bonds
Assets
Debt securities	45,411	116,616
Preferred stock
Assets
Preferred stock	14,191	14,446
Recurring
Assets
Marketable securities	80,514	132,121
Liabilities
Total liabilities	13,715	32,376
Recurring | U.S. treasury securities
Assets
Debt securities	20,259	1,059
Recurring | Corporate bonds
Assets
Debt securities	45,934	116,616
Recurring | Preferred stock
Assets
Preferred stock	14,321	14,446
Recurring | Warrant liabilities
Liabilities
Warrant liabilities	11,732	24,285
Recurring | Conversion option liabilities
Liabilities
Conversion option liabilities	1,983	8,091
Recurring | Level 1
Assets
Marketable securities	20,259	1,059
Liabilities
Total liabilities	3,409	5,469
Recurring | Level 1 | U.S. treasury securities
Assets
Debt securities	20,259	1,059
Recurring | Level 1 | Corporate bonds
Assets
Debt securities	0	0
Recurring | Level 1 | Preferred stock
Assets
Preferred stock	0	0
Recurring | Level 1 | Warrant liabilities
Liabilities
Warrant liabilities	3,409	5,469
Recurring | Level 1 | Conversion option liabilities
Liabilities
Conversion option liabilities	0	0
Recurring | Level 2
Assets
Marketable securities	60,255	131,062
Liabilities
Total liabilities	0	0
Recurring | Level 2 | U.S. treasury securities
Assets
Debt securities	0	0
Recurring | Level 2 | Corporate bonds
Assets
Debt securities	45,934	116,616
Recurring | Level 2 | Preferred stock
Assets
Preferred stock	14,321	14,446
Recurring | Level 2 | Warrant liabilities
Liabilities
Warrant liabilities	0	0
Recurring | Level 2 | Conversion option liabilities
Liabilities
Conversion option liabilities	0	0
Recurring | Level 3
Assets
Marketable securities	0	0
Liabilities
Total liabilities	10,306	26,907
Recurring | Level 3 | U.S. treasury securities
Assets
Debt securities	0	0
Recurring | Level 3 | Corporate bonds
Assets
Debt securities	0	0
Recurring | Level 3 | Preferred stock
Assets
Preferred stock	0	0
Recurring | Level 3 | Warrant liabilities
Liabilities
Warrant liabilities	8,323	18,816
Recurring | Level 3 | Conversion option liabilities
Liabilities
Conversion option liabilities	$ 1,983	$ 8,091

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Significant Inputs to Valuation of Level 3 Warrant and Conversion Liabilities (Details) - Level 3	Jun. 30, 2023 $ / shares	Dec. 31, 2022 $ / shares
Exercise Price | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	2.27	2.47
Exercise Price | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability measurement input	2.47	2.47
Exercise Price | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	3.90	3.90
Exercise Price | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	11.50	11.50
Stock Price | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	1.30	2.55
Stock Price | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability measurement input	1.30	2.55
Stock Price | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	1.30	2.55
Stock Price | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	1.30	2.55
Volatility | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.975	0.890
Volatility | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability measurement input	0.749	0.647
Volatility | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.961	0.904
Volatility | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	1.050	0.840
Remaining term in years | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants term	3 years 6 months	4 years
Remaining term in years | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability term	1 year 6 months	2 years
Remaining term in years | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants term	3 years 8 months 26 days	4 years 2 months 26 days
Remaining term in years | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants term	3 years 3 months	3 years 9 months
Risk-free rate | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.044	0.041
Risk-free rate | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability measurement input	0.051	0.044
Risk-free rate | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.044	0.040
Risk-free rate | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.045	0.041
Dividend yield | Convertible Notes Payable Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0	0
Dividend yield | Conversion Option Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion liability measurement input	0	0
Dividend yield | PIPE Investment Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0	0
Dividend yield | Private Placement Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0	0

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Input Reconciliation (Details) - Warrant Liabilities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 8,471	$ 45,169	$ 26,907	$ 42,457
Changes in estimated fair value	1,835	(6,101)	(16,601)	(29,993)
Issuance of PIPE Investment warrants		0		26,604
Ending balance	$ 10,306	$ 39,068	$ 10,306	$ 39,068

Investments in Available-for-_3

Investments in Available-for-Sale Securities - Schedule of Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Preferred stock
Total Investments, Amortized Cost	$ 83,901	$ 138,770
Total Investments, Gross Unrealized Gains	19	0
Total Investments, Gross Unrealized Losses	(3,406)	(6,649)
Total Investments, Fair Value	80,514	132,121
U.S. treasury securities
Debt Securities
Amortized Cost	20,939	1,059
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(27)	0
Fair Value	20,912	1,059
Corporate bonds
Debt Securities
Amortized Cost	47,818	122,257
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(2,408)	(5,641)
Fair Value	45,411	116,616
Preferred stock
Preferred stock
Amortized Cost	15,144	15,454
Gross Unrealized Gains	18	0
Gross Unrealized Losses	(971)	(1,008)
Fair Value	$ 14,191	$ 14,446

Investments in Available-for-_4

Investments in Available-for-Sale Securities - Narratives (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Fair value of investments with unrealized losses, less than a year	$ 36,318	$ 66,296
Fair value of investments with unrealized losses, more than a year	36,679	$ 64,723
Marketable securities with maturity one year	50,353
Marketable securities maturity one to five years	$ 30,161

Derivatives - Narratives (Detai

Derivatives - Narratives (Details) lb in Thousands, bu in Thousands, T in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) bu	Jun. 30, 2023 USD ($) lb	Jun. 30, 2023 USD ($) T	Dec. 31, 2022 USD ($)
Price Risk Derivatives [Line Items]
Fair value, cash-settled on a daily basis | $	$ 0	$ 0	$ 0
Current asset representing excess cash collateral posted to a margin account | $	$ 757,000	$ 757,000	$ 757,000	$ 2,714,000
Soybeans
Price Risk Derivatives [Line Items]
Financial futures	6,360
Aggregate notional amount		637	91
Soybean contract, settling in current year
Price Risk Derivatives [Line Items]
Financial futures	5,305
Soybean contract, settling next year
Price Risk Derivatives [Line Items]
Financial futures	1,055

Derivatives - Derivative Contra

Derivatives - Derivative Contracts (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Asset Derivative
Effect of daily cash settlement	$ (3,984)	$ (2,045)
Net derivatives as classified in the balance sheet	0	0
Liability Derivative
Effect of daily cash settlement	(4,930)	(4,412)
Net derivatives as classified in the balance sheet	0	0
Soybeans
Asset Derivative
Soybeans	1,451	1,112
Liability Derivative
Soybeans	2,612	1,925
Soybean oil
Asset Derivative
Soybeans	1,104	533
Liability Derivative
Soybeans	2,318	73
Soybean meal
Asset Derivative
Soybeans	1,429	400
Liability Derivative
Soybeans	$ 0	$ 2,414

Derivatives - Pre-tax Gains and

Derivatives - Pre-tax Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Gain (loss) realized on derivatives	$ 3,942	$ (4,024)	$ 1,179	$ (13,881)
Unrealized gain (loss) on derivatives	(1,177)	4,879	1,421	2,190
Total gain (loss) recognized in income	2,765	855	2,600	(11,691)
Soybeans
Derivative [Line Items]
Gain (loss) realized on derivatives	(1,410)	(1,278)	(1,247)	(6,231)
Unrealized gain (loss) on derivatives	479	1,605	(348)	1,211
Total gain (loss) recognized in income	(931)	327	(1,595)	(5,020)
Soybean oil
Derivative [Line Items]
Gain (loss) realized on derivatives	2,093	(2,447)	2,500	(7,405)
Unrealized gain (loss) on derivatives	(1,674)	1,672	(1,675)	207
Total gain (loss) recognized in income	419	(775)	825	(7,198)
Soybean meal
Derivative [Line Items]
Gain (loss) realized on derivatives	3,259	(299)	(74)	(245)
Unrealized gain (loss) on derivatives	18	1,602	3,444	772
Total gain (loss) recognized in income	$ 3,277	$ 1,303	$ 3,370	$ 527

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 21,510	$ 37,483
Work-in-process	7,230	4,977
Finished goods	13,930	19,650
Total inventories	$ 42,670	$ 62,110

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: unamortized debt discount and debt issuance costs	$ (13,721)	$ (14,039)
Long-term debt, less current portion	107,431	106,233
Long-term debt, current portion	(2,246)	(2,242)
Long-term debt	105,185	103,991
Long-Term Debt
Debt Instrument [Line Items]
Long-term debt, current portion	(2,246)	(2,242)
Secured Debt | Equipment Financing, due March 2025
Debt Instrument [Line Items]
Long-term debt, less current portion	681	873
Convertible Notes Payable | Convertible Notes Payable, due January 2025
Debt Instrument [Line Items]
Long-term debt, less current portion	112,700	110,700
Notes Payable | Notes payable, varying maturities through June 2026
Debt Instrument [Line Items]
Long-term debt, less current portion	71	81
Credit Agreement | Secured Debt | DDB Term loan, due April 2025
Debt Instrument [Line Items]
Long-term debt, less current portion	6,825	7,393
Credit Agreement | Secured Debt | DDB Equipment loan, due July 2024
Debt Instrument [Line Items]
Long-term debt, less current portion	$ 875	$ 1,225

Debt - Narratives (Details)

Debt - Narratives (Details)

1 Months Ended

3 Months Ended

6 Months Ended

Feb. 28, 2023

Oct. 31, 2022

Sep. 30, 2022

Apr. 30, 2019 USD ($)

Mar. 31, 2023

Nov. 30, 2022

Dec. 31, 2021 USD ($) day

Mar. 31, 2023

Mar. 31, 2022 USD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2022 USD ($)

Debt Instrument [Line Items]

Interest only extension term

6 months

Borrowing under revolving line of credit

$ 0

$ 12,491,000

Notes Payable

Debt Instrument [Line Items]

Equity financing liability amount

$ 1,160,000

Proceeds recorded as financing liability

$ 33,000

Financing arrangement term

36 months

Convertible Loan and Security Agreement | Convertible Notes Payable

Debt Instrument [Line Items]

Available borrowing

$ 100,000,000

Remaining balance

$ 12,700,000

Available borrowing

$ 80,000,000

Interest only extension term

12 months

6 months

24 months

Milestone achievement extension

6 months

36 months

Borrowing under revolving line of credit

$ 80,000,000

Minimum liquidity covenant requirement

6 months

4 months

Designated interest rate

0.25%

Final balloon payment

2%

Debt redemption maximum

$ 20,000,000

Consecutive trading days | day

7

Trading volume conversion maximum

20%

Consecutive trading days | day

22

Shares outstanding conversion maximum

2.50%

Conversion option

8,783,000

Minimum liquidity, equal to or greater than

4 months

Convertible Loan and Security Agreement | Convertible Notes Payable | Second period

Debt Instrument [Line Items]

Interest only extension term

12 months

Stated rate

5.75%

Convertible Loan and Security Agreement | Convertible Notes Payable | Third period

Debt Instrument [Line Items]

Interest only extension term

24 months

Convertible Loan and Security Agreement | Convertible Notes Payable | Minimum

Debt Instrument [Line Items]

Interest only extension term

12 months

Prepayment fee

1%

conversion term

6 months

Convertible Loan and Security Agreement | Convertible Notes Payable | Maximum

Debt Instrument [Line Items]

Interest only extension term

24 months

Prepayment fee

6%

conversion term

42 months

Convertible Loan and Security Agreement | Convertible Notes Payable | Prime Rate

Debt Instrument [Line Items]

Variable rate

5.75%

7.75%

3.25%

Second tranche | Convertible Notes Payable

Debt Instrument [Line Items]

Available borrowing

$ 20,000,000

Credit Agreement | Secured Debt

Debt Instrument [Line Items]

Maximum amount guaranteed

7,000,000

Credit Agreement | DDB Term loan, due April 2025 | Secured Debt

Debt Instrument [Line Items]

Aggregate principal amount

$ 14,000,000

Debt term

5 years

Equal quarterly installments

284,000

Remaining balance

4,834,000

Credit Agreement | DDB Equipment loan, due July 2024 | Secured Debt

Debt Instrument [Line Items]

Aggregate principal amount

$ 3,500,000

Debt term

5 years

Equal quarterly installments

$ 175,000

Credit Agreement | DDB Revolver | Revolver

Debt Instrument [Line Items]

Available borrowing

$ 6,000,000

Credit Agreement | DDB Revolver | Revolver | Prime Rate

Debt Instrument [Line Items]

Variable rate

0.25%

Credit Agreement | DDB Term Loan and DDB Equipment Loan | Secured Debt | Prime Rate

Debt Instrument [Line Items]

Variable rate

0.75%

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payroll and employee benefits	$ 7,156	$ 12,306
Insurance premiums	951	4,687
Professional services	1,034	2,842
Research and development	537	924
Inventory	393	530
Interest	129	167
Contract liability	8,305	9,965
Other	3,719	2,014
Total	$ 22,224	$ 33,435

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	0%	0%	0%	0%

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 194,639	$ 293,494	$ 193,902	$ 251,447
Other comprehensive income (loss) before reclassifications	4,662	(4,373)	6,568	(8,204)
Amounts reclassified from AOCI	(1,994)	1,022	(3,044)	2,229
Total other comprehensive income (loss)	2,668	(3,351)	3,524	(5,975)
Ending balance	136,603	268,980	136,603	268,980
Cumulative Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(385)	(441)	(385)	(376)
Other comprehensive income (loss) before reclassifications	0	20	0	(45)
Amounts reclassified from AOCI	0	0	0	0
Total other comprehensive income (loss)	0	20	0	(45)
Ending balance	(385)	(421)	(385)	(421)
Unrealized Gains/(Losses) on Marketable Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,854)	(3,286)	(6,710)	(727)
Other comprehensive income (loss) before reclassifications	4,662	(4,393)	6,568	(8,159)
Amounts reclassified from AOCI	(1,994)	1,022	(3,044)	2,229
Total other comprehensive income (loss)	2,668	(3,371)	3,524	(5,930)
Ending balance	(3,186)	(6,657)	(3,186)	(6,657)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6,239)	(3,727)	(7,095)	(1,103)
Ending balance	$ (3,571)	$ (7,078)	$ (3,571)	$ (7,078)

Loss Per Common Share - Anti-di

Loss Per Common Share - Anti-dilutive Common Share Equivalents (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	9,675	9,098	9,119	8,451
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	0	0	0	83
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	674	3,813	1,149	4,266
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	9,001	5,285	7,970	4,102

Loss Per Common Share - Reconci

Loss Per Common Share - Reconciliation of Basic and Diluted Loss per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss from continuing operations	$ (49,115)	$ (25,098)	$ (53,960)	$ (42,522)
Denominator:
Weighted average common shares outstanding, basic (in shares)	187,725	185,530	187,421	173,189
Weighted average common shares outstanding, diluted (in shares)	187,725	185,530	187,421	173,189
Net loss from continuing operations per common share, basic (in usd per share)	$ (0.26)	$ (0.14)	$ (0.29)	$ (0.24)
Net loss from continuing operations per common share, diluted (in usd per share)	$ (0.26)	$ (0.14)	$ (0.29)	$ (0.24)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) bu
Commitments and Contingencies Disclosure [Abstract]
Inventory	$ 55,954
Purchase obligation 2022	$ 37,964
Purchase commitment (bushels) | bu	576,000

Segment Information - Narrative

Segment Information - Narratives (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Operating segments	1
Reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 109,038	$ 93,631	$ 243,681	$ 159,757
Net loss from continuing operations	(49,115)	(25,098)	(53,960)	(42,522)
Income tax expense (benefit)	(138)	56	(123)	17
Depreciation and amortization			10,596	10,942
Changes in fair value of warrants and conversion option	3,036	(5,899)	(18,660)	(37,640)
Impairment of goodwill	19,226	0	19,226	0
Severance charges	1,126		1,238
Total Adjusted EBITDA	(16,089)	(14,002)	(26,822)	(45,143)
Corporate And Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Interest expense, net	6,874	3,442	13,246	9,830
Income tax expense (benefit)	(138)	56	(123)	17
Depreciation and amortization	5,333	5,048	10,596	9,940
Stock-based compensation	(4,073)	5,676	(1,259)	11,359
Changes in fair value of warrants and conversion option	3,036	(5,899)	(18,660)	(37,640)
Impairment of goodwill	19,226	0	19,226	0
Severance charges	1,126	124	1,238	289
Other	1,642	2,649	2,874	3,584
Proprietary Transactions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	18,601	12,172	43,924	26,262
Non-Proprietary Transaction
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	90,437	81,459	199,757	133,495
Point in time
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	108,743	93,544	240,844	159,618
Over time
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	295	87	2,837	139
Domestic
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	103,529	91,230	209,550	155,704
International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 5,509	$ 2,401	$ 34,131	$ 4,053