XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (32,108) $ (47,317)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation & amortization 8,899 6,508
Impairment of assets 3,079 1,661
Amortization of right-of-use assets 3,120 3,754
Loss on disposal of assets 72 0
Amortization of deferred financing fees and debt discount 478 494
Bad debt expense 34 803
Stock-based compensation expense 10,510 11,876
Provision for inventory obsolescence reserve 888 (2,486)
Gain on extinguishment of debt (1,828) 0
Change in fair value of warrant liabilities and derivatives (2,216) (6,523)
Paid in kind interest on convertible notes 2,119 4,354
Changes in operating assets and liabilities:    
Accounts receivable 63 4,365
Inventory 24,975 10,333
Prepaid expenses and other current assets (1,123) (222)
Other noncurrent assets 0 155
Accounts payable and accrued expenses (4,894) (5,339)
Deferred revenue 1,247 1,367
Proceeds from tenant improvement allowances 0 6,177
Operating lease liabilities (3,522) (2,307)
Other liabilities (2,687) (2,139)
Net cash provided by (used in) operating activities 7,106 (14,486)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (6,699) (18,854)
Net cash used in investing activities (6,699) (18,854)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of finance lease obligations (161) (2,326)
Proceeds from the exercise of stock options 105 980
Proceeds from issuance of common stock under ESPP 489 145
Tax payments related to the issuance of common stock (1,011) (649)
Excise tax from stock repurchases (42) 0
Payments to repurchase common stock (4,120) 0
Payments of long-term debt (42,300) 0
Net cash used in financing activities (47,040) (1,850)
Effect of exchange rate changes on cash (14) (18)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (46,647) (35,208)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD 183,068 201,679
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD 136,421 166,471
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 131,284 164,181
Restricted cash - Other noncurrent assets 5,137 2,290
Total cash, cash equivalents and restricted cash 136,421 166,471
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Purchases of property and equipment included in accounts payable and accrued liabilities 38 342
Cash paid for interest 2,237 275
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Establishment of operating lease 0 24,576
Lease modification and termination $ 0 $ 3,532