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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net loss $ (39,431) $ (51,146)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,027 2,966
Amortization of right-of-use lease assets 132 95
Amortization of debt issuance costs and premium 287 408
Loss on extinguishment of debt 1,769 0
Amortization of discount on short-term investments (4,545) (622)
Stock-based compensation 11,321 8,435
Provision for excess and obsolete inventory 13 454
Change in operating assets and liabilities:    
Accounts receivable (4,288) (4,159)
Inventories (4,101) (7,758)
Prepaid and other assets 997 1,613
Accounts payable 1,408 2,331
Accrued expenses and other liabilities 119 2,387
Net cash used in operating activities (33,292) (44,996)
Investing Activities:    
Purchases of property and equipment (3,223) (2,031)
Maturities of short-term investments 205,000 210,000
Purchases of short-term investments (228,472) (178,424)
Net cash (used in) provided by investing activities (26,695) 29,545
Financing Activities:    
Proceeds from term loan 20,000 0
Repayment of term loan (60,000) 0
Proceeds from issuance of common stock from public offering 54,050 0
Proceeds from issuance of common stock in at-the-market offerings 42,433 0
Proceeds from issuance of common stock 5,890 1,189
Payments for employee taxes related to stock compensation (1,421) (643)
Principal payments on finance lease liabilities (119) (82)
Payments of deferred offering costs (647) (295)
Payments of debt issuance costs (2,224) (144)
Net cash provided by financing activities 57,962 25
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (2) (23)
Net decrease in cash, cash equivalents and restricted cash (2,026) (15,449)
Cash, cash equivalents and restricted cash - beginning of period 12,595 25,172
Cash, cash equivalents and restricted cash - end of period 10,569 9,723
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 1,666 1,518
Cash paid for income taxes 12 3
Cash paid for interest on financing leases 8 12
Cash paid for interest on term loan 3,464 3,025
Right-of-use assets obtained in exchange for lease obligations:    
Operating lease 8 1,090
Finance lease 0 311
Lease obligations recorded for right-of-use assets:    
Operating lease 8 1,090
Finance lease 0 280
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities 211 151
Deferred offering costs included in accounts payable and accrued liabilities 159 350
Reclassification of deferred financing costs $ 1,300 $ 0