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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (36,633) $ (39,605)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,977 4,208
Non-cash interest expense 430 359
Stock-based compensation expense 5,279 4,995
Deferred taxes 37  
Change in fair value of contingent consideration 267 757
Credit losses on accounts receivable 915  
Net accretion of marketable securities (1,026) (5)
Operating lease right of use assets 1,142 1,156
Provision for excess and obsolete inventories 2,779 2,198
Impairment 2,971 0
Changes in operating assets and liabilities:    
Accounts receivable, net (475) (3,137)
Prepaid expenses and other assets 866 2,342
Inventories, net (9,597) (4,045)
Accounts payable (1,991) 1,104
Accrued expenses and other liabilities 528 (2,140)
Operating lease liabilities (1,084) (1,065)
Deferred revenue (250) 1,316
Net cash used in operating activities (31,865) (31,562)
Investing activities    
Purchases of property and equipment (980) (2,227)
Purchases of marketable securities (69,783)  
Sales of marketable securities 5,000  
Maturities Of Marketable Securities 26,000 7,000
Net cash (used in) provided by investing activities (39,763) 4,773
Financing activities    
Sale of common stock in underwritten offering, net of costs   48,071
Proceeds from stock option exercises 59 201
Settlement of restricted stock units for tax withholding obligations (214) (94)
Principal payments on financing leases (354) (321)
Payments of debt issuance costs   (33)
Payments of deferred offering costs (150) (207)
Payments of contingent consideration (1,910) (1,709)
Net cash used in financing activities (2,569) 45,908
Net decrease in cash, cash equivalents, and restricted cash (74,197) 19,119
Cash, cash equivalents, and restricted cash at beginning of period 83,824 74,532
Cash, cash equivalents, and restricted cash at end of period 9,627 93,651
Supplemental disclosures of cash flow information    
Cash paid for interest 4,588 3,705
Supplemental disclosures of non-cash activities    
Right-of-use asset obtained in exchange for lease liabilities   914
Unpaid offering costs related to sale of common stock in underwritten offer   254
Purchases of property and equipment included in accounts payable and accrued expenses $ 44 $ 596