XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows used in operating activities:      
Net income (loss) $ (392) $ 1,620 $ (5,105)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 2,272 1,971 3,313
Provision for (recovery from) doubtful accounts   2,562 (41)
Gain on forgiveness of Paycheck Protection Program note   (2,946)  
Gain on investment (30) (611)  
Accretion of interest on contractual payment obligation   43 139
Loss on disposal of fixed assets 68    
Amortization of debt issuance costs   108 497
Stock-based compensation 3,161 2,606 3,027
Impairment of right-of-use operating lease asset   281 1,294
Decrease in fair value of earnout liability     (261)
Changes in operating assets and liabilities:      
Accounts receivable (5,051) (3,572) (550)
Inventories (9,330) 389 (4,105)
Prepaid expenses and other assets (1,210) (12) (570)
Accounts payable 4,073 (441) 2,455
Contractual payment obligation liability   (1,083) (770)
Deferred revenue 222 67 (467)
Accrued expenses and other liabilities (1,590) 246 (622)
Net cash provided by (used in) operating activities (7,807) 1,228 (1,766)
Cash flows from investing activities:      
Capital expenditures (3,902) (2,087) (1,564)
Proceeds from investment 30 611  
Net cash used in investing activities (3,872) (1,476) (1,564)
Cash flows from financing activities:      
Borrowings under revolving loan facility, net of issuance costs   3,964 3,362
Repayments under revolving loan facility   (18,548) (3,347)
Borrowings under East West Bank term loan     4,500
Repayments under East West Bank term loan     (4,500)
Proceeds from April 21 Funds promissory notes     4,000
Repayments of April 21 Funds promissory notes   (2,800) (1,200)
Proceeds from the sale of common stock, net of issuance costs   37,627  
Proceeds from Paycheck Protection Program promissory note     2,915
Taxes paid related to net share settlement of restricted stock units (1,039) (1,201) (890)
Proceeds from exercise of stock options   299 13
Net cash provided by (used in) financing activities (1,039) 19,341 4,853
Effect of exchange rates on cash, cash equivalents, and restricted cash 48 (695) 503
Net increase (decrease) in cash, cash equivalents, and restricted cash (12,670) 18,398 2,026
Cash, cash equivalents, and restricted cash, Beginning of period 29,807 11,409 9,383
Cash, cash equivalents, and restricted cash, End of period 17,137 29,807 11,409
Supplemental Disclosures of Cash Flow Information:      
Interest paid 6 340 945
Taxes paid, net 88 74 112
Non-cash investing and financing activities:      
Dividends earned on Series B preferred stock 1,206 1,148 1,094
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 3,646 183 1,676
Reclassification of debt issuance costs to prepaid expenses and other current assets   $ 114  
Common stock issued to settle vendor liability     304
Common stock issued to settle earnout liability     489
Fair value of warrants issued in connection with financial liabilities     $ 332