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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss $ (38,624) $ (21,898)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,303 2,882
Depreciation and amortization 1,213 1,177
Payment of accrued interest of long-term debt (2,593) 0
Loss on extinguishment of long-term debt 7,143 0
Amortization of deferred financing costs 819 163
Loss on equity securities 1,360 0
Amortization of premium on short-term investments (141) (6)
Non-cash operating lease cost 775 651
Conversion of accrued interest to long-term debt 0 453
Provision for bad debts 6 38
Provision for inventory obsolescence 8 442
Changes in operating assets and liabilities:    
Accounts receivable 5,926 (833)
Inventory (2,712) (465)
Prepaid expenses and other assets 3,318 (1,377)
Accounts payable (260) (1,893)
Accrued liabilities (426) 1,124
Accrued compensation and other employee benefits (5,821) (4,765)
Customer deposits (2,305) (2,226)
Deferred revenue 1,115 (833)
Operating lease liabilities (887) (811)
Net cash used in operating activities (27,783) (28,177)
Investing activities    
Purchases of property and equipment (3,939) (165)
Proceeds from sale of short-term investments 4,000 0
Proceeds from maturity of short-term investments 48,584 39,520
Purchases of short-term investments (38,804) (28,100)
Net cash provided by investing activities 9,841 11,255
Financing activities    
Proceeds from issuance of 2025 convertible senior notes 230,000 0
Fees paid for issuance of 2025 convertible senior notes (7,403) 0
Repayment of long-term debt (80,000) 0
Fees paid upon extinguishment of debt (4,845) 0
Proceeds from sale of common stock, net 0 68,273
Proceeds from issuance of common stock warrants 737 697
Tax withholdings related to net share settlements of restricted stock units (2,006) (1,299)
Proceeds from issuance of common stock for employee stock purchase plan 1,122 939
Proceeds from exercise of stock options 6,969 8,075
Net cash provided by financing activities 144,574 76,685
Net increase in cash and cash equivalents 126,632 59,763
Effect of exchange rate changes on cash and cash equivalents (73) (10)
Cash and cash equivalents    
Beginning of period 29,033 24,356
End of period $ 155,592 $ 84,109