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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating activities      
Net loss $ (40,696) $ (77,400) $ (43,562)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 4,919 4,070 3,354
Stock-based compensation expense 17,458 11,475 11,369
Non-cash operating lease cost 2,831 0 0
Repayment of accrued interest of long-term debt 0 (5,446) 0
Gain on sale of business (49,922) 0 0
Gain on equity securities (625) 0 0
Loss on extinguishment of long-term debt 0 842 0
Amortization (accretion) of discount or premium on short-term investments (204) 278 198
Amortization of deferred financing costs 810 438 171
Conversion of accrued interest to long-term debt 2,193 1,530 1,472
Loss on disposal of property and equipment 1,152 97 15
Provision for bad debt (62) 467 361
Provision for inventory obsolescence 931 691 866
Changes in operating assets and liabilities      
Accounts receivable (9,805) 1,807 2,277
Inventory (8,475) 5,251 (8,742)
Prepaid expenses and other assets (3,350) (2,714) (1,278)
Accounts payable (599) 4,640 (110)
Accrued liabilities 1,276 (494) 1,312
Accrued compensation and other employee benefits 3,567 3,463 295
Customer deposits (1,778) (778) 8,335
Deferred revenue (6,536) (1,779) (29,161)
Operating lease liabilities (2,506) 0 0
Deferred rent and other liabilities 0 (503) 1,171
Net cash used in operating activities (89,421) (54,065) (51,657)
Investing activities      
Purchases of property and equipment (7,885) (4,485) (4,284)
Proceeds from sale of business 40,000 0 0
Proceeds from sale of short-term investments 2,500 7,910 3,600
Proceeds from maturity of short-term investments 97,970 51,300 79,599
Purchases of short-term investments (147,744) (77,650) (81,405)
Net cash used in investing activities (15,159) (22,925) (2,490)
Financing activities      
Proceeds from long-term debt 20,000 60,000 0
Deferred costs related to long-term debt 100 500 0
Repayment of long-term debt and lease financing obligations 0 (45,000) (58)
Fees paid upon extinguishment of debt 0 (1,009) 0
Proceeds from sale of common stock, net 68,273 53,829 56,486
Proceeds from issuance of common stock warrants 2,228 3,010 674
Proceeds from issuance of common stock for employee stock purchase plan 1,952 1,451 1,793
Tax withholdings related to net share settlements of restricted stock units (1,474) (207) (313)
Proceeds from exercise of stock options 18,387 3,507 1,086
Net cash provided by financing activities 109,266 75,081 59,668
Net increase (decrease) in cash and cash equivalents 4,686 (1,909) 5,521
Effect of exchange rate changes on cash and cash equivalents (9) (14) 32
Cash and cash equivalents and restricted cash      
Beginning of year 24,356 26,279 20,726
End of year 29,033 24,356 26,279
Cash and cash equivalents 29,033 24,356 26,136
Restricted Cash 0 0 143
Supplemental disclosures      
Cash paid for interest 5,683 6,213 4,416
Fair value of warrants issued with long-term debt 968 1,583 0
Cash paid for taxes 265 231 154
Rental instruments reclassified from inventory 605 585 1,023
Operating lease right-of-use assets obtained in exchange for lease obligations 28,060 0 0
Common stock received for sale of a business 9,893 0 0
Non-cash inventory exchanged for services $ 0 $ 106 $ 0