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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net loss $ (49,285) $ (33,237)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance of bad debt 1,836 (19)
Inventory reserve adjustment 3,053 5,028
Depreciation and amortization 10,062 10,522
Amortization of debt issuance costs 674 614
Gain (loss) on disposal of assets 5 7
Share-based compensation 8,897 5,352
Unrealized foreign exchange (gain) loss 322 (1,147)
Changes in operating assets and liabilities:    
Accounts receivable, trade (11,425) 18,596
Trade Notes receivable (219) (488)
Prepaid income tax (2) (2)
Inventories 5,579 6,980
Other current assets 842 97
Operating right of use asset 542 204
Accounts payable 626 (12,735)
Accrued liabilities (1,151) (2,358)
Accrued Income Tax 0 (1)
Unearned revenue (233) 8,720
Lease liability (593) (265)
Net cash used in operating activities (30,470) 5,868
Investing activities:    
Purchase of property, plant and equipment (8,739) (1,460)
Proceeds from disposal of equipment 5 66
Deposits and prepaid for equipment (3,192) (265)
Purchase of intangible assets (230) (251)
Net cash used in investing activities (12,156) (1,910)
Financing activities:    
Principal payments of long-term debt and notes payable (251) 0
Proceeds from line of credit borrowings 21,183 45,343
Repayments of line of credit borrowings (21,729) (63,981)
Proceeds from bank acceptance payable 15,112 27,813
Repayments of bank acceptance payable (25,487) (31,079)
Proceeds from issuance of convertible senior notes, net of debt issuance costs (214) 0
Principal payments of financing lease 0 (10)
Proceeds from issuance of shares under equity plans (2) 0
Payments of tax withholding on behalf of employees related to share-based compensation (2,670) (159)
Proceeds from common stock offering, net 19,946 10,287
Cash Settlement of share-based compensation (2,791) 0
Net cash (used)/provided by financing activities 3,097 (11,786)
Effect of exchange rate changes on cash 550 853
Net decrease in cash, cash equivalents and restricted cash (38,979) (6,975)
Cash, cash equivalents and restricted cash at beginning of period 55,097 35,587
Cash, cash equivalents and restricted cash at end of period 16,118 28,612
Supplemental disclosure of cash flow information:    
Interest, net of amounts capitalized 2,527 3,611
Non-cash investing and financing activities:    
Net change in accounts payable related to property and equipment additions (730) 85
Net change in deposits and prepaid for equipment related to property and equipment additions $ 304 $ (92)