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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (44,084) $ (40,382)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Amortization of intangible assets 0 1,230
Depreciation of property and equipment 237 170
Amortization of debt discount and premium and discount on available-for-sale marketable securities (295) (4)
Provision for excess and obsolete inventory 693 0
Loss on extinguishment of debt 1,347 1,559
Stock-based compensation 4,838 7,617
Changes in operating assets and liabilities:    
Accounts receivable and other current assets 3,953 (9,310)
Inventory (1,909) 362
Accounts payable and accrued expenses 3,680 (90)
Right-of-use assets and operating lease liabilities 385 (10)
Deferred revenue 71,343 (423)
Net cash provided by (used in) operating activities 40,188 (39,281)
Cash flows from investing activities:    
Purchases of marketable securities (5,851) (92,087)
Sales and maturities of marketable securities 52,284 36,000
Purchases of property and equipment (880) (367)
Net cash provided by (used in) investing activities 45,553 (56,454)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 0 30,000
Payment of equity and debt issue costs 0 (573)
Payment of long-term debt (30,000) (38,235)
Payment of extinguishment of debt costs (1,350) (2,294)
Borrowings under revolving facility 5,300 21,934
Repayment under revolving facility (15,775) (11,459)
Net settlement of stock units to satisfy statutory tax withholding (169) (271)
Proceeds from exercise of stock options 253 241
Principal payments on finance lease obligations (36) (67)
Net cash used in financing activities (41,777) (724)
Net increase (decrease) in cash, cash equivalents and restricted cash 43,964 (96,459)
Cash, cash equivalents and restricted cash at beginning of period 95,783 178,743
Cash, cash equivalents and restricted cash at end of period 139,747 82,284
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 139,597 82,134
Restricted cash 150 150
Total cash, cash equivalents and restricted cash at end of period 139,747 82,284
Supplemental cash flow information:    
Cash interest paid 1,405 1,349
Supplemental disclosure of non-cash investing and financing activities:    
Debt issue costs 0 26
Accrued term loan exit fee $ 0 $ 600