Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows From Operating Activities:    
Net loss $ (52,752) $ (124,621)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,152 9,566
Non-cash lease expense 2,992 1,473
Non-cash gain on lease termination (72)
Loss on disposal of property and equipment 5,712 598
Change in fair value of derivative and other accrued liabilities 8 11
Change in fair value of consideration payable and gain on settlement (Note 9) (9,238) 2,811
Provision for slow moving and obsolete inventory 4,571 1,306
Provision for credit losses 5,241 1,895
Gain on extinguishment of notes payable (36)
Impairment of goodwill 69,111
Stock-based compensation 2,186 2,877
Changes in operating assets and liabilities:    
Accounts receivable 4,022 (4,970)
Inventory 31 (651)
Prepaid expenses and other current assets (2,283) 2,024
Other assets (44) 45
Accounts payable and accrued expenses and other current liabilities 9,724 (1,086)
Other liabilities (4,366)
Lease liabilities (3,645) (1,289)
Deferred revenue (1,779) 6,106
Total Adjustments 21,212 89,791
Net Cash Used In Operating Activities (31,540) (34,830)
Cash Flows From Investing Activities:    
Proceeds from sale of marketable securities 13,630 6,750
Proceeds from sale of equity method investment 223
Purchase consideration of Zemetric, net of cash acquired (207)
Purchase of marketable securities (958)
Capitalization of engineering costs (205) (161)
Proceeds from government grants 1,952
Purchases of property and equipment (4,225) (9,577)
Net Cash Provided By (Used In) Investing Activities 11,168 (3,946)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering, net [1],[2] 891 25,070
Repayment of note payable (37,881)
Repayment of financing liability in connection with finance lease (26) (582)
Payment of financing liability in connection with internal use software (338)
Net Cash Provided By (Used In) Financing Activities 865 (13,731)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash 851 1,190
Net Decrease In Cash and Cash Equivalents and Restricted Cash (18,656) (51,317)
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 41,852 98,800
Cash and Cash Equivalents and Restricted Cash - End of Period 23,196 47,483
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 23,110 47,406
Restricted cash 86 77
Cash and cash equivalents and restricted cash 23,196 47,483
Cash paid during the period for:    
Interest 71 1,436
Income taxes 28 233
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 1,015 1,076
Right-of-use assets derecognized in connection with lease termination (577)
Property and equipment obtained in exchange for finance lease obligations 53
Common stock and warrants issued in satisfaction of consideration payable 11,790
Common stock issued as purchase consideration of Zemetric 1,098
Common stock obligation incurred as purchase consideration of Zemetric 53
Earn-out liabilities incurred as purchase consideration of Zemetric 2,194
Common stock issuance, net 825
Transfer of inventory to property and equipment 3,313 5,111
Proceeds to be received from government grants $ 3,104
[1] For the nine months ended September 30, 2025, includes gross proceeds of $909, less issuance costs of $18.
[2] For the nine months ended September 30, 2024, includes gross proceeds of $25,651, less issuance costs of $581.