XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net loss $ (27,016) $ (34,328)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,944 2,025
Amortization of right-of-use lease assets 85 56
Amortization of debt issuance costs and premium 283 265
Loss on extinguishment of debt 362 0
Amortization of discount on short-term investments (2,953) (231)
Stock-based compensation 7,250 5,553
Provision for excess and obsolete inventory 14 120
Change in operating assets and liabilities:    
Accounts receivable (2,338) (2,022)
Inventories (3,124) (3,710)
Prepaid and other assets 868 1,099
Accounts payable 1,324 1,348
Accrued expenses and other liabilities (2,009) 17
Net cash used in operating activities (25,310) (29,808)
Investing Activities:    
Purchases of property and equipment (2,570) (1,451)
Maturities of short-term investments 115,000 135,000
Purchases of short-term investments (156,400) (104,564)
Net cash (used in) provided by investing activities (43,970) 28,985
Financing Activities:    
Proceeds from term loan 20,000 0
Repayment of term loan (40,000) 0
Proceeds from issuance of common stock from public offering 54,050 0
Proceeds from issuance of common stock in at-the-market offerings 30,496 0
Proceeds from issuance of common stock 3,896 1,044
Payments for employee taxes related to stock compensation (337) (362)
Principal payments on finance lease liabilities (82) (60)
Payments of deferred offering costs (602) 0
Payments of debt issuance costs (1,225) (142)
Net cash provided by financing activities 66,196 480
Effect of foreign exchange rate on cash, cash equivalents and restricted cash 3 (14)
Net (decrease) increase in cash, cash equivalents and restricted cash (3,081) (357)
Cash, cash equivalents and restricted cash - beginning of period 12,595 25,172
Cash, cash equivalents and restricted cash - end of period 9,514 24,815
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 1,107 1,023
Cash paid for income taxes 12 3
Cash paid for interest on financing leases 7 3
Cash paid for interest on term loan 3,240 1,904
Right-of-use assets obtained in exchange for lease obligations:    
Operating lease 0 1,090
Finance lease 0 288
Lease obligations recorded for right-of-use assets:    
Operating lease 0 1,090
Finance lease 0 256
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities 408 238
Deferred offering costs included in accounts payable and accrued liabilities 187  
Reclassification of deferred financing costs $ (1,075) $ 0