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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (43,336) $ (61,256)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 24,057 23,061
Depreciation and amortization 5,428 3,452
Accounts receivable credit losses 761 150
Inventory reserve 1,709 319
Accretion (amortization) of discount and premium on marketable securities (4,009) 229
Amortization of debt issuance costs 208 198
Loss on disposal of property and equipment 1,302 153
Changes in operating assets and liabilities    
Accounts receivable (2,122) (6,479)
Inventory (4,719) (6,028)
Prepaid expenses and other assets (762) 810
Accounts payable (1,118) 2,529
Accrued liabilities and other 3,888 1,207
Net cash used in operating activities (18,713) (41,655)
Cash flows from investing activities    
Maturities of marketable securities 137,500 126,200
Purchases of marketable securities (189,499) (119,508)
Purchases of property and equipment (7,799) (9,507)
Net cash used in investing activities (59,798) (2,815)
Cash flows from financing activities    
Proceeds from public offering, net of discounts, commissions and offering costs 83,671 0
Proceeds from debt financing 36,000 0
Repayments of debt financing (35,275) 0
Payments of debt issuance costs (40) 0
Proceeds from the exercise of common stock options 4,386 379
Proceeds from issuance of common stock under employee stock purchase plan 2,191 1,818
Net cash provided by financing activities 90,933 2,197
Effect of exchange rate changes on cash and cash equivalents 132 (429)
Net increase (decrease) in cash and cash equivalents 12,554 (42,702)
Cash and cash equivalents at    
Beginning of year 20,717 63,419
End of year 33,271 20,717
Supplemental disclosure of cash flow information    
Cash paid for interest 3,263 2,621
Supplemental disclosure of non-cash information    
Unpaid purchases of property and equipment $ 501 $ 1,115