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Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net loss $ (9,100) $ (13,212)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,115 955
Amortization of right-of-use lease assets 25 44
Amortization of debt issuance costs and premium 0 141
Amortization of discount on short-term investments (1,505) (1,257)
Stock-based compensation 4,696 3,295
Provision for excess and obsolete inventory 111 10
Change in operating assets and liabilities:    
Accounts receivable (1,269) (1,712)
Inventories (1,390) (3,241)
Prepaid and other assets 569 (460)
Accounts payable 1,176 1,163
Accrued expenses and other liabilities (3,737) (3,490)
Net cash used in operating activities (9,309) (17,764)
Investing Activities:    
Purchases of property and equipment (1,967) (747)
Maturities of short-term investments 74,000 60,000
Purchases of short-term investments (47,759) (107,618)
Net cash (used in) provided by investing activities 24,274 (48,365)
Financing Activities:    
Proceeds from issuance of common stock from public offering 0 54,050
Proceeds from issuance of common stock in at-the-market offerings 0 11,102
Proceeds from issuance of common stock 10,153 761
Payments for employee taxes related to stock compensation (2,134) (337)
Principal payments on finance lease liabilities (27) (41)
Payments of deferred offering costs 0 (230)
Net cash provided by financing activities 7,992 65,305
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (3) 2
Net increase (decrease) in cash, cash equivalents and restricted cash 22,954 (822)
Cash, cash equivalents and restricted cash - beginning of period 10,402 12,595
Cash, cash equivalents and restricted cash - end of period 33,356 11,773
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 548 546
Cash paid for interest on financing leases 5 4
Cash paid for interest on term loan 0 1,344
Right-of-use assets obtained in exchange for lease obligations:    
Finance lease 9 0
Lease obligations recorded for right-of-use assets:    
Finance lease 9 0
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities 343 259
Deferred offering costs included in accounts payable and accrued liabilities 225 466
Reclassification of deferred financing costs $ 0 $ (55)