Cash Flow

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities:    
Net loss $ (15,143) $ (7,365)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 758 514
Non-cash lease expense 55
Change in fair value of derivative and other accrued liabilities 7
Provision for bad debt 502 201
Provision for slow moving and obsolete inventory 295 (82)
Stock-based compensation:    
Common stock 507 29
Options 1,455 386
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (1,722) (857)
Inventory (698) (1,965)
Prepaid expenses and other current assets 297 51
Other assets (288) 212
Accounts payable and accrued expenses 2,120 305
Other liabilities 101
Lease liabilities (66) (75)
Deferred revenue 444 139
Total Adjustments 3,760 (1,135)
Net Cash Used In Operating Activities (11,383) (8,500)
Cash Flows From Investing Activities:    
Purchase of marketable securities (36,562)
Purchases of property and equipment (1,368) (4,021)
Net Cash Used In Investing Activities (1,368) (40,583)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering [1] 221,406
Proceeds from exercise of options and warrants 69 1,000
Payment of financing liability in connection with internal use software (146) (20)
Net Cash (Used In) Provided By Financing Activities (77) 222,386
Effect of Exchange Rate Changes on Cash and Cash Equivalents (158)
Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (12,986) 173,303
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 175,049 22,418
Cash and Cash Equivalents and Restricted Cash - End of Period 162,063 195,721
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 161,984 195,646
Restricted cash 79 75
 Total Cash and cash equivalents and restricted cash 162,063 195,721
Cash paid during the period for:    
Interest
Income taxes 10
Non-cash investing and financing activities:    
Capitalization of non-recurring engineering costs 237
Common stock issued as consideration for property and equipment 600
Common stock issued upon cashless option exercise 16
Common stock issued upon cashless warrant exercise 66
Interest expense converted into principal 2
Right-of-use assets obtained in exchange for lease obligations 1,358
Change in fair value of marketable securities 56
Intangible assets obtained in exchange for financing liability 660
Transfer of inventory to property and equipment $ (698) $ (429)
[1] Includes gross proceeds of $232,060, less issuance costs of $10,654.

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