XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net loss $ (5,580) $ (61,427)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non-cash lease expense 561 618
Depreciation and amortization 778 558
Stock-based compensation 2,217 6,349
Provision for uncollectible accounts 1,065 4,953
Unrealized exchange (gain) or loss (29) 253
Provision for inventory 1,052 743
Change in fair value of warrant liabilities (14,210) (2,189)
Change in fair value of derivative liabilities (1,895) (165)
Change in fair value of Revenue Interest Financing and PIPE Conversion Option 9,608 2,040
Change in fair value of earn-out liabilities (22,140) (24,330)
Interest paid on debt recorded at fair value (2,458)  
Change in fair value of debt (10,020) 3,751
Debt issuance costs associated with debt recorded at fair value 1,357 1,210
Non-cash interest expense 1,464 1,117
Non-cash termination of convertible note side letters   16,098
Loss on extinguishment of debt/ term loan 8,713 3,929
Issuance costs associated with warrants recorded at fair value 942  
Changes in operating assets and liabilities:    
Accounts receivable 7,199 (3,883)
Inventory 551 (899)
Prepaid expenses, other current and long-term assets 747 409
Lease liabilities (593) (617)
Accounts payable (578) 3,492
Accrued expenses and other current liabilities (7,777) 4,879
Net cash used in operating activities (29,026) (43,111)
Investing Activities:    
Purchases of property and equipment (611) (1,208)
Net cash used in investing activities (611) (1,208)
Financing Activities:    
Proceeds from issuance of convertible notes 48,000 28,700
Proceeds from Fortress Term Loan - net   59,780
Proceeds from Business Combination, net of transaction costs   62,078
Proceeds from revenue interest financing   40,000
Proceeds from option and warrant exercises 26 195
Proceeds from equity line financing 378  
Repayment of convertible notes   (10,750)
Proceeds from Private Placement, net of issuance costs 2,685  
Proceeds from Public Offering, net of issuance costs 18,249  
Payment of debt issuance costs (1,357) (3,450)
Repayment of promissory note assumed in Business Combination   (2,500)
Net cash provided by financing activities 20,261 116,394
Net (decrease) increase in cash and cash equivalents and restricted cash (9,376) 72,075
Cash and cash equivalents and restricted cash at beginning of period 38,421 8,023
Cash and cash equivalents and restricted cash at end of period 29,045 80,098
Supplemental disclosure of cash flow information    
Cash paid for interest 2,672 5,022
Supplemental cash flow information on non-cash investing and financing activities    
Purchase of property and equipment included in accounts payable   270
Deferred financing costs in accounts payable and accrued expenses 1,004 1,006
Recognition of assumed warrant liability   13,762
Recognition of earn-out liabilities   53,040
Issuance of common stock upon conversion of convertible notes   25,569
Change in fair value of Revenue Interest Financing through other comprehensive income 600  
Change in fair value of RTW Convertible Notes through other comprehensive income 2,990  
2021 Term Loan    
Financing Activities:    
Repayment of Term Loan   $ (57,659)
Fortress Term Loan    
Financing Activities:    
Repayment of Term Loan $ (47,720)