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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities                  
Net loss $ (10,812) $ (9,841) $ (24,060) $ (18,623) $ (35,211) $ (27,170) $ (57,534) $ (65,649) $ (13,693)
Adjustments to reconcile net loss to net cash provided by operating activities:                  
Depreciation and amortization 3,117 3,030 6,414 6,566 10,602 9,624 15,542 13,728 8,961
Allowance for doubtful accounts   600 147   147   614 155 1,022
Provision for excess and obsolete inventories 293 (643) 923 (446) 3,204 (91) 4,037 485 2,821
Loss on early extinguishment of debt             1,881    
Stock-based compensation 3,182 2,122 6,782 4,465 10,294 7,052 12,364 10,365 4,948
Change in fair value of financial instruments 517 605 366 (414) (57) (1,303) 546 (57) 440
Other 100 387 394 (1,514) (34) (1,295) 984 704 1,014
Changes in other assets and liabilities, net of acquisitions:                  
Accounts receivable (441) (2,240) (3,138) (6,825) (3,706) (10,227) (161) (12,013) (6,461)
Inventories (7,112) (2,329) (20,959) (11,320) (31,117) (15,406) (32,628) (21,852) (11,098)
Accounts payable 5,592 (1,178) 14,745 1,537 12,468 951 6,742 1,895 3,431
Accrued expenses (877)   1,845 1,992 3,718 176 6,428 2,317 7,095
Accrued legal settlement (9,000)   (22,000)   (22,000)   (22,000) 22,000  
Income tax receivable/payable 132 669 (359) 454 (533) 297 (50) 391 671
Other assets and liabilities (367)   (779) 289 (2,704) 1,442 (655) (1,650) (2,468)
Net cash used in operating activities (14,060) (9,503) (33,403) (23,839) (47,517) (35,950) (63,890) (49,181) (3,317)
Cash flows from investing activities                  
Purchase of office building           (18,300)   (18,300)  
Purchases of property and equipment (7,521) (23,036) (15,354) (29,204) (21,893) (15,637) (26,716) (22,813) (18,296)
Proceeds from sale of property and equipment 223 305 635 519 795 642 1,043 897 799
Purchases of intangible assets (254) (704) (544) (783) (933) (1,720) (1,314) (1,973) (2,993)
Acquisition, net of cash received   (18,201)   (18,504)   (18,504)   (18,504) (15,000)
Net cash used in investing activities (7,552) (41,636) (15,263) (47,972) (22,031) (53,519) (26,987) (60,693) (35,490)
Cash flows from financing activities                  
Proceeds from draw on term loan   20,000   20,000   20,000   20,000  
Proceeds from issuance of long-term debt   16,000   16,000   16,000 100,000 16,000 10,000
Payments on long-term debt (197) (37) (396) (178) (568) (367) (30,727) (570) (6,034)
Payments of debt issuance costs (7) (405)   (405)   (420) (4,423) (732) (3,139)
Proceeds from issuance of common stock, net of issuance costs 68,449   68,453   68,453   68,453   1,001
Proceeds from IPO, net of issuance costs                 129,384
Payments on treasury stock repurchased                 (561)
Proceeds from exercise of stock options 1,622 12 2,464 300 2,535 2,224 2,406 5,271 445
Proceeds from employee stock purchase plan     560   560   944 518  
Payments on earnout liability (500)   (4,250)   (5,500) (500) (8,000) (1,000)  
Net cash provided by financing activities 69,367 35,570 66,831 35,717 65,480 36,937 128,653 39,487 131,096
Effect of exchange rate changes on cash and cash equivalents (340) (136) 114 (256) 549 (495) (605) (497) (438)
Net increase (decrease) in cash and cash equivalents 47,415 (15,705) 18,279 (36,350) (3,519) (53,027) 37,171 (70,884) 91,851
Cash and cash equivalents at beginning of period 38,468 109,352 38,468 109,352 38,468 109,352 38,468 109,352 17,501
Cash and cash equivalents at end of period 85,883 93,647 56,747 73,002 34,949 56,325 75,639 38,468 109,352
Supplemental disclosures of cash flow information:                  
Restricted cash (Note 8)     2,250   1,000   1,000    
Cash paid for income taxes     456 386 610 788 908 1,103 678
Cash paid for interest 601 273 2,068 1,520 3,342 2,111 4,271 3,073 1,086
Purchase of property and equipment included in accounts payable $ 4,026 $ 1,804 $ 5,617 $ 3,088 $ 4,842 $ 2,363 $ 3,402 $ 3,402 $ 881