XML 12 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (7,586) $ (23,225)
Adjustments to reconcile net loss to net cash provided by used in operating activities:    
Depreciation and amortization 1,081 1,265
Impairment of long-lived assets and non-cash restructuring   4,443
Amortization of deferred financing costs   12
Stock-based compensation 2,671 1,352
Provision for inventory write-down 705 666
Provision for credit losses, net of recoveries (752) 14,228
Provision for sales returns 1,448 239
Provision for warranty 121 269
Unrealized loss (gain) on foreign currency transactions 874 (883)
Subsidiary dissolution (68)  
Deferred taxes   (134)
Changes in operating assets and liabilities excluding effects of acquisition:    
Accounts receivable 6,418 (846)
Other receivable 126 (2,678)
Inventories (14,557) (3,239)
Contract assets 1,261 (267)
Prepaid expenses and other assets (4,557) (1,186)
Accounts payable 1,586 3,539
Contract liabilities (43) 32
Accrued and other liabilities 540 (523)
Net cash used in operating activities (10,732) (6,936)
Cash flows from investing activities:    
Purchases of property, plant and equipment (1,317) (1,266)
Acquisition of business, net of cash acquired   (4,258)
Net cash used in investing activities (1,317) (5,524)
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offerings, net of issuance costs   59,525
Repayments of short-term borrowings and line of credit   (11,494)
Repayments of related party term loan   (29,298)
Payments for debt issue costs (178)  
Proceeds from exercise of stock awards and employee stock plan purchases 156 2,569
Net cash provided by (used in) financing activities (22) 21,302
Effect of exchange rate changes on cash, cash equivalents and restricted cash (903) 404
Net increase (decrease) in cash, cash equivalents and restricted cash (12,974) 9,246
Cash, cash equivalents and restricted cash at beginning of period 53,639 54,587
Cash, cash equivalents and restricted cash at end of period 40,665 63,833
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets    
Cash and cash equivalents 34,160 56,818
Restricted cash 6,343 6,848
Long-term restricted cash 162 167
Cash, cash equivalents and restricted cash at end of period 40,665 63,833
Cash paid during the period for:    
Interest - bank and trade facilities 36 83
Interest - related party   94
Income taxes $ 283 $ 1,206