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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net (loss) income $ (32,954) $ 1,280
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 2,950 2,866
Amortization of right-of-use lease assets 19 151
Amortization of debt issuance costs and premium 361 0
Change in fair value of warrants (2,717) (27,933)
Gain on expiration of warrant (5,018) 0
Amortization of discount on short-term investments (19) (430)
Stock-based compensation 4,658 2,948
Provision for excess and obsolete inventory 2,357 28
Change in operating assets and liabilities:    
Accounts receivable (1,492) (650)
Inventories (3,511) (1,940)
Prepaid and other assets (3,155) 493
Accounts payable 454 (597)
Accrued expenses and other liabilities 2,081 (3,192)
Net cash used in operating activities (35,986) (26,976)
Investing Activities:    
Purchases of property and equipment (1,575) (2,001)
Proceeds from maturities of short-term investments 55,000 95,000
Purchases of short-term investments (99,986) (62,892)
Net cash (used in) provided by investing activities 46,561 30,107
Financing Activities:    
Proceeds from term loan 15,000 0
Payments of debt issuance costs (124) 0
Proceeds from Warrant Exercises 790 0
Proceeds from Issuance Initial Public Offering 119,582 0
Principal payments on finance lease liabilities (21) (131)
Payments of deferred offering costs (242) 0
Change in notes receivables for redeemable common stock issued 575 65
Proceeds from exercise of stock options 1,378 975
Net cash provided by financing activities 136,938 909
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (7) (7)
Net increase in cash, cash equivalents and restricted cash 54,384 4,033
Cash, cash equivalents and restricted cash - beginning of period 14,455 8,830
Cash, cash equivalents and restricted cash - end of period 68,839 12,863
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 932 740
Cash paid for income taxes 19 58
Cash paid for interest on financing leases 4 12
Cash paid for interest on term loan 2,237 0
Right-of-use assets obtained in exchange for lease obligations:    
Operating lease 103 1,923
Finance Lease 0 48
Lease obligations recorded for right-of-use assets:    
Operating lease 103 1,923
Finance Lease 0 (48)
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities 138 212
Accretion to redemption value of redeemable stock and stock options 0 39,181
Payment-in-kind interest income added to principal of notes receivable 28 41
Reclassification from warrant liability to additional paid-in capital for warrants exercised 1,111 24
Reclassification of 4,093,995 shares of redeemable common stock to 4,093,995 shares of common stock 87,702 0
Reclassification of redeemable common stock options to common stock options 47,370 0
Conversion of preferred stock to common stock upon initial public offering 357,202 0
Reclassification of deferred financing costs $ 3,156 $ 0