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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (64,683) $ (56,290)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,625 2,975
Non-cash operating lease cost 2,069 0
Stock-based compensation expense 12,706 8,683
Amortization of premium on short-term investments (11) 373
Amortization of deferred financing costs 575 276
Conversion of accrued interest to long-term debt 1,565 1,130
Provision for bad debts (62) 467
Inventory Write-down 784 629
Changes in operating assets and liabilities:    
Accounts receivable (2,224) 562
Inventory (7,161) 3,468
Prepaid expenses and other assets (5,292) (2,418)
Accounts payable (2,027) 1,261
Accrued liabilities 1,133 (1,388)
Accrued compensation and other employee benefits (1,232) 532
Customer deposits (1,705) 1,263
Deferred revenue (6,244) (789)
Operating lease liabilities (1,701) 0
Deferred rent and other liabilities 0 (384)
Net cash used in operating activities (69,885) (39,650)
Investing activities    
Purchases of property and equipment (1,832) (2,855)
Proceeds from sale of short-term investments 2,500 5,410
Proceeds from maturity of short-term investments 84,070 34,100
Purchases of short-term investments (122,084) (62,150)
Net cash used in investing activities (37,346) (25,495)
Financing activities    
Borrowings under long-term debt agreement 20,000 0
Deferred costs related to long-term debt 100 0
Proceeds from sale of common stock, net 68,273 53,847
Proceeds from issuance of common stock warrants 1,821 2,266
Tax withholdings related to net share settlements of restricted stock units (1,474) (197)
Proceeds from issuance of common stock for employee stock purchase plan 1,952 1,451
Proceeds from exercise of stock options 15,899 2,727
Net cash provided by financing activities 106,371 60,094
Net decrease in cash, cash equivalents (860) (5,051)
Effect of exchange rate changes on cash and cash equivalents (54) (29)
Cash and cash equivalents    
Beginning of period 24,356 26,279
End of period 23,442 21,199
Right-of-use assets obtained in exchange for lease obligations $ 27,364 $ 0