XML 29 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income (loss) $ 6,804 $ (1,547)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 931 384
Amortization of deferred financing costs 142 69
Loss on extinguishment of debt 648  
Share based compensation expense 1,959 329
Amortization of fair value of warrants issued with debt   12
Provision for doubtful accounts 15  
Loss on change in fair value of warrant liabilities 3,317 562
Changes in:    
Accounts receivable (9,550) (5,711)
Inventories (3,242) (2,042)
Prepaid expenses and other assets (2,945) (295)
Accounts payable 984 1,010
Payroll-related accruals, accrued liabilities and other liabilities 4,473 3,119
Net cash provided by (used in) operating activities 3,536 (4,110)
Cash flows from investing activities    
Purchase of property and equipment (3,076) (2,062)
Net cash used in investing activities (3,076) (2,062)
Cash flows from financing activities    
Proceeds from issuance of common stock upon initial public offering, net of issuance costs paid 164,361  
Proceeds from notes payable 10,000  
Repayments of notes payable (30,250)  
Debt financing costs (452)  
Proceeds from subscriptions receivable   107
Proceeds from exercise of stock options 226 91
Proceeds from warrants exercises 4  
Net cash provided by financing activities 143,889 198
Net increase (decrease) in cash 144,349 (5,974)
Cash, cash equivalents and restricted cash beginning of period 24,027 21,884
Cash, cash equivalents and restricted cash end of period 168,376 15,910
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 82 11
Cash paid for interest 966 $ 605
Noncash investing and financing:    
Common stock issued on conversion of convertible preferred stock 54,170  
Common stock warrants issued on conversion of preferred stock warrants and the reclassification of the warrant liability 4,486  
Deferred initial public offering cost recorded to additional paid in capital $ 1,382