Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net loss $ (37,232) $ (71,283)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,579 6,825
Non-cash lease expense 2,438 833
Change in fair value of contingent consideration 41
Loss on disposal of fixed assets 39 33
Change in fair value of derivative and other accrued liabilities (15) 10
Change in fair value of consideration payable 2,447
Provision for slow moving and obsolete inventory 822 65
Provision for credit losses 903 1,318
Stock-based compensation 1,950 19,439
Changes in operating assets and liabilities:    
Accounts receivable (6,990) (20,630)
Inventory 2,239 (11,855)
Prepaid expenses and other current assets 1,349 (1,073)
Other assets 26 898
Accounts payable and accrued expenses (1,099) 7,379
Other liabilities (258)
Lease liabilities (2,052) (2,232)
Deferred revenue 2,861 5,450
Total Adjustments 11,497 6,243
Net Cash Used In Operating Activities (25,735) (65,040)
Cash Flows From Investing Activities:    
Purchase consideration of Envoy, net of cash acquired (4,660)
Capitalization of engineering costs (155) (526)
Purchases of property and equipment (8,584) (5,647)
Net Cash Used In Investing Activities (8,739) (10,833)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering, net [1] 25,070 113,254
Repayment of note payable (37,881)
Proceeds from exercise of options and warrants 835
Repayment of financing liability in connection with finance lease (375) (1,443)
Payment of financing liability in connection with internal use software (286) (220)
Net Cash (Used In) Provided By Financing Activities (13,472) 112,426
Effect of Exchange Rate Changes on Cash and Cash Equivalents 136 1,354
Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (47,810) 37,907
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 121,770 36,633
Cash and Cash Equivalents and Restricted Cash - End of Period 73,960 74,540
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 73,885 74,464
Restricted cash 75 76
Total Cash and cash equivalents and restricted cash 73,960 74,540
Cash paid during the period for:    
Interest 1,436
Income taxes 233
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 653 4,765
Property and equipment obtained in exchange for finance lease obligations 53 2,798
Intangible assets obtained in exchange for financing liability 122
Note receivable applied to purchase consideration of Envoy (1,321)
Common stock issuance, net 825
Transfer of inventory to property and equipment $ 130 $ 1,241
[1] Includes gross proceeds of $25,651, less issuance costs of $581.