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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Cash flows from operating activities    
Net Income (Loss) $ (43,519) $ (35,211)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13,573 10,602
Allowance for doubtful accounts 721 147
Provision for excess and obsolete inventories 8,753 3,204
Stock-based compensation 9,537 10,294
Change in fair value of financial instruments (267) (57)
Other 910 (34)
Changes in other assets and liabilities, net of acquisitions:    
Accounts receivable 1,156 3,706
Inventories (14,586) (31,117)
Accounts payable (1,013) 12,468
Accrued expenses 1,522 3,718
Accrued legal settlement   (22,000)
Income tax receivable/payable (215) (533)
Other assets and liabilities (441) (2,704)
Net cash used in operating activities (23,869) (47,517)
Cash flows from investing activities    
Purchases of property and equipment (13,119) (21,893)
Proceeds from sale of property and equipment 926 795
Purchases of intangible assets (881) (933)
Net cash used in investing activities (13,074) (22,031)
Cash flows from financing activities    
Payments on long-term debt (480) (568)
Payments of debt issuance costs (18)  
Proceeds from issuance of common stock, net of issuance costs   68,453
Proceeds from exercise of options 3,188 2,535
RSU vesting, taxes paid (423)  
Proceeds from employee stock purchase plan 403 560
Payments on earnout liability (2,000) (5,500)
Net cash provided by financing activities 670 65,480
Effect of exchange rate changes on cash and cash equivalents (221) 549
Net decrease in cash and cash equivalents (36,494) (3,519)
Cash and cash equivalents at beginning of period 75,639 38,468
Cash and cash equivalents at end of period 39,145 34,949
Supplemental disclosures of cash flow information:    
Restricted cash   1,000
Cash paid for income taxes 1,190 610
Cash paid for interest 8,717 3,342
Purchase of property and equipment included in accounts payable $ 3,152 $ 4,842