XML 32 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net loss $ (15,179) $ (27,016)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,927 1,944
Amortization of right-of-use lease assets 33 85
Amortization of debt issuance costs and premium 0 283
Loss on extinguishment of debt 0 362
Amortization of discount on short-term investments (3,578) (2,953)
Stock-based compensation 10,801 7,250
Provision for excess and obsolete inventory 167 14
Change in operating assets and liabilities:    
Accounts receivable (5,441) (2,338)
Inventories (2,189) (3,124)
Prepaid and other assets 673 868
Accounts payable 789 1,324
Accrued expenses and other liabilities (1,339) (2,009)
Net cash used in operating activities (13,336) (25,310)
Investing Activities:    
Purchases of property and equipment (3,490) (2,570)
Maturities of short-term investments 119,000 115,000
Purchases of short-term investments (206,881) (156,400)
Net cash (used in) provided by investing activities (91,371) (43,970)
Financing Activities:    
Proceeds from term loan 0 20,000
Repayment of term loan 0 (40,000)
Proceeds from issuance of common stock from public offering 108,100 54,050
Proceeds from issuance of common stock from at-the-market offerings 0 30,496
Proceeds from issuance of common stock 13,993 3,896
Payments for employee taxes related to stock compensation (2,133) (337)
Principal payments on finance lease liabilities (38) (82)
Payments of deferred offering costs (377) (602)
Payments of debt issuance costs (80) (1,225)
Net cash provided by financing activities 119,465 66,196
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (4) 3
Net increase (decrease) in cash, cash equivalents and restricted cash 14,754 (3,081)
Cash, cash equivalents and restricted cash - beginning of period 10,402 12,595
Cash, cash equivalents and restricted cash - end of period 25,156 9,514
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 1,128 1,107
Cash paid for income taxes 24 12
Cash paid for interest on financing leases 11 7
Cash paid for interest on term loan 0 3,240
Right-of-use assets obtained in exchange for lease obligations:    
Operating lease 9,060 0
Finance lease 19 0
Lease obligations recorded for right-of-use assets:    
Operating lease 9,060 0
Finance lease 19 0
Acquisition of property and equipment included in accounts payable and accrued expenses and other current liabilities 229 408
Deferred offering costs included in accounts payable and accrued liabilities 392 187
Reclassification of deferred financing costs $ (768) $ (1,075)