XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited)
3 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Cash flows from operating activities    
Net (loss) income $ (3,129,000) $ 7,469,000
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation 1,063,000 609,000
Amortization of deferred financing costs 36,000 36,000
Amortization of right-of-use assets 604,000 177,000
Share based compensation expense 6,555,000 3,836,000
Allowance for credit losses 79,000 139,000
Changes in:    
Accounts receivable (2,695,000) (3,437,000)
Inventories (2,788,000) (3,073,000)
Prepaid expenses, deposits and other assets 261,000 (2,908,000)
Accounts payable (467,000) 2,473,000
Payroll-related accruals, accrued expenses and other liabilities (6,247,000) 3,635,000
Lease prepayments for lessor's owned leasehold improvements (2,097,000) 0
Operating lease liabilities (275,000) (190,000)
Net cash (used in) provided by operating activities (9,100,000) 8,766,000
Cash flows from investing activities    
Purchases of property and equipment (2,745,000) (1,265,000)
Purchases of marketable securities (112,073,000) (21,246,000)
Purchases of other investments (5,693,000) 0
Maturities of marketable securities 47,000,000 0
Net cash used in investing activities (73,511,000) (22,511,000)
Cash flows from financing activities    
Proceeds from issuance of common stock in public offering, net of issuance costs of $11.9 million 174,394,000 0
Proceeds from issuance of common stock under employee stock purchase plan 3,427,000 1,882,000
Proceeds from exercise of stock options 345,000 381,000
Payment of taxes related to vested restricted stock units (1,624,000) (49,000)
Net cash provided by financing activities 176,542,000 2,214,000
Effect of foreign exchange rate on cash and cash equivalents (127,000) (183,000)
Net increase (decrease) in cash 93,804,000 (11,714,000)
Cash and cash equivalents beginning of period 92,752,000 114,617,000
Cash and cash equivalents end of period 186,556,000 102,903,000
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 89,000 118,000
Cash paid for interest $ 37,000 $ 37,000