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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (87,074) $ (64,683)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 13,077 12,706
Depreciation and amortization 4,301 3,625
Payment of accrued interest on long-term debt (2,593) 0
Loss on extinguishment of long-term debt 7,143 0
Amortization of debt discount and deferred financing costs 6,141 575
Loss on equity securities 300 0
Amortization of discount on short-term investments (150) (11)
Non-cash operating lease expense 2,417 2,069
Conversion of accrued interest to long-term debt 0 1,565
Provision for inventory obsolescence and bad debts 15 722
Changes in operating assets and liabilities:    
Accounts receivable 1,390 (2,224)
Inventory (6,792) (7,161)
Prepaid expenses and other assets 4,663 (5,292)
Accounts payable (4,286) (2,027)
Accrued liabilities (1,533) 1,133
Accrued compensation and other employee benefits (2,366) (1,232)
Customer deposits (4,912) (1,705)
Deferred revenue 1,739 (6,244)
Operating lease liabilities (2,262) (1,701)
Net cash used in operating activities (70,782) (69,885)
Investing activities    
Purchases of property and equipment (6,808) (1,832)
Proceeds from sale of short-term investments 17,218 2,500
Proceeds from maturity of short-term investments 89,784 84,070
Purchases of short-term investments (38,804) (122,084)
Net cash provided by (used in) investing activities 61,390 (37,346)
Financing activities    
Proceeds from issuance of 2025 convertible senior notes and borrowings under long-term debt agreement 230,000 20,000
Fees paid for issuance of 2025 convertible senior notes and long-term debt borrowings (7,403) (100)
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 1,821
Tax withholdings related to net share settlements of restricted stock units (2,012) (1,474)
Proceeds from issuance of common stock for employee stock purchase plan 2,190 1,952
Proceeds from exercise of stock options 13,077 15,899
Net cash provided by financing activities 151,744 106,371
Net increase (decrease) in cash and cash equivalents 142,352 (860)
Effect of exchange rate changes on cash and cash equivalents 67 (54)
Cash and cash equivalents    
Beginning of period 29,033 24,356
End of period 171,452 23,442
Right-of-use assets obtained in exchange for lease obligations $ 524 $ 27,364