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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net loss $ (110,078) $ (40,696) $ (77,400)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 5,738 4,919 4,070
Stock-based compensation expense 19,374 17,458 11,475
Non-cash operating lease cost 3,238 2,831 0
Payment of accrued interest on long-term debt (2,593) 0 (5,446)
Gain on sale of business 0 (49,922) 0
Loss (gain) on equity securities 300 (625) 0
Loss on extinguishment of long-term debt 7,143 0 842
Amortization (accretion) of discount or premium on short-term investments (121) (204) 278
Amortization of deferred financing costs 8,881 810 438
Conversion of accrued interest to long-term debt 0 2,193 1,530
Loss on disposal of property and equipment 119 1,152 97
Provision for inventory obsolescence and bad debt 886 869 1,158
Changes in operating assets and liabilities      
Accounts receivable (3,949) (9,805) 1,807
Inventory (4,909) (8,475) 5,251
Prepaid expenses and other assets 4,321 (3,350) (2,714)
Accounts payable (3,170) (599) 4,640
Accrued liabilities (21) 1,276 (494)
Accrued compensation and other employee benefits (936) 3,567 3,463
Cash payments received from customers (4,758) (1,778) (778)
Deferred revenue and other liabilities 2,033 (6,536) (2,282)
Operating lease liabilities (3,160) (2,506) 0
Net cash used in operating activities (81,662) (89,421) (54,065)
Investing activities      
Purchases of property and equipment (7,457) (7,885) (4,485)
Proceeds from sale of business 0 40,000 0
Proceeds from sale of short-term investments 21,218 2,500 7,910
Proceeds from maturity of short-term investments 116,284 97,970 51,300
Purchases of short-term investments (38,804) (147,744) (77,650)
Net cash provided by (used in) investing activities 91,241 (15,159) (22,925)
Financing activities      
Proceeds from long-term debt 230,000 20,000 60,000
Deferred costs related to long-term debt 7,403 100 500
Repayment of long-term debt and lease financing obligations (80,000) 0 (45,000)
Fees paid upon extinguishment of debt (4,845) 0 (1,009)
Proceeds from sale of common stock, net 215,765 68,273 53,829
Proceeds from issuance of common stock warrants 737 2,228 3,010
Proceeds from issuance of common stock for employee stock purchase plan 2,190 1,952 1,451
Tax withholdings related to net share settlements of restricted stock units (2,012) (1,474) (207)
Proceeds from exercise of stock options 18,751 18,387 3,507
Repayment of finance lease obligations (135) 0 0
Net cash provided by financing activities 373,048 109,266 75,081
Net increase (decrease) in cash and cash equivalents 382,627 4,686 (1,909)
Effect of exchange rate changes on cash and cash equivalents 188 (9) (14)
Cash and cash equivalents      
Beginning of year 29,033 24,356 26,279
End of year 411,848 29,033 24,356
Supplemental disclosures      
Cash paid for interest 4,571 5,683 6,213
Fair value of warrants issued with long-term debt 0 968 1,583
Cash paid for taxes 357 265 231
Instruments reclassified from inventory to property and equipment 854 605 585
Finance lease right-of-use assets obtained in exchange for lease obligations 524 0 0
Operating lease right-of-use assets obtained in exchange for lease obligations 0 28,060 0
Common stock received for sale of a business 0 9,893 0
Non-cash inventory exchanged for services $ 0 $ 0 $ 106