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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
$ in Thousands
6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Cash flows from operating activities    
Net loss $ (19,950) $ (18,839)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 6,414 6,566
Allowance for doubtful accounts 147  
Reversal of excess and obsolete inventories (205) (446)
Stock-based compensation 6,782 4,465
Other 714 (1,514)
Changes in other assets and liabilities, net of acquisitions:    
Accounts receivable 3,138 (6,825)
Inventories (23,895) (11,518)
Accounts payable 14,745 1,537
Accrued expenses 1,845 1,992
Accrued legal settlement (22,000)  
Income tax receivable/payable (359) 454
Other assets and liabilities (779) 289
Net cash used in operating activities (33,403) (23,839)
Cash flows from investing activities    
Purchases of property and equipment (15,354) (29,204)
Proceeds from sale of property and equipment 635 519
Purchases of intangible assets (544) (783)
Acquisition of Disior, net of cash received   (18,504)
Net cash used in investing activities (15,263) (47,972)
Cash flows from financing activities    
Proceeds from draw on term loan   20,000
Proceeds from issuance of long-term debt   16,000
Payments on long-term debt (396) (178)
Payments of debt issuance costs   (405)
Proceeds from issuance of common stock, net of issuance costs 68,453  
Proceeds from exercise of stock options 2,464 300
Proceeds from employee stock purchase plan 560  
Payments on earnout liability (4,250)  
Net cash provided by financing activities 66,831 35,717
Effect of exchange rate changes on cash 114 (256)
Net increase (decrease) in cash 18,279 (36,350)
Cash at beginning of period 38,468 109,352
Cash at end of period 56,747 73,002
Supplemental disclosures of cash flow information:    
Restricted cash (Note 5) 2,250  
Cash paid for taxes 456 386
Cash paid for interest 2,068 1,520
Purchase of property and equipment included in accounts payable $ 5,617 $ 3,088