XML 27 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (110,048,000) $ (107,908,000) $ (120,199,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 5,984,000 6,419,000 4,655,000
Stock-based compensation 23,871,000 22,805,000 19,445,000
Accretion on asset retirement obligation 105,000 63,000 43,000
Change in fair value of warrant liability 2,284,000 (509,000) (2,496,000)
Loss on disposal of property and equipment 0 139,000 3,000
Inventory lower of cost and net realizable value adjustment 883,000 150,000 0
Amortization of debt discount and interest accrual 919,000 729,000 703,000
Product upgrade reserve 1,000,000 (2,294,000) 3,794,000
Changes in operating assets and liabilities:      
Accounts receivable (9,890,000) 5,048,000 20,050,000
Inventory 15,565,000 8,240,000 (5,951,000)
Deposits on purchased inventory (2,694,000) 4,373,000 1,685,000
Deferred cost of revenue (1,388,000) (186,000) 1,755,000
Prepaid expenses and other assets (5,550,000) (1,356,000) 2,963,000
Accounts payable (746,000) (3,352,000) 2,759,000
Accrued expenses and other long-term liabilities 6,807,000 (292,000) 6,995,000
Customer deposits and deferred revenue 10,807,000 4,457,000 (15,771,000)
Net cash used in operating activities (62,091,000) (63,474,000) (79,567,000)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (1,559,000) (6,183,000) (7,760,000)
Purchase of intangible and other assets 0 0 (57,000)
Net cash used in investing activities (1,559,000) (6,183,000) (7,817,000)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from term loan modification 0 2,000,000 0
Payment of debt issuance costs 0 (815,000) (168,000)
Proceeds from common stock public offerings, gross 137,884,000 0 149,559,000
Payment of offering costs related to common stock public offerings (9,334,000) (539,000) (10,416,000)
Proceeds from employee stock purchase plan 550,000 365,000 0
Proceeds from the exercise of stock options 775,000 15,000 9,641,000
Proceeds from the exercise of warrants 3,000 0 0
Payments for taxes related to net share settlement of equity awards (4,600,000) (1,376,000) (2,410,000)
Net cash provided by (used in) financing activities 125,278,000 (350,000) 146,206,000
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 61,628,000 (70,007,000) 58,822,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — BEGINNING OF PERIOD 158,180,000 228,187,000 169,365,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — END OF PERIOD 219,808,000 158,180,000 228,187,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for interest 3,323,000 3,262,000 3,954,000
Cash paid for taxes 0 43,000 19,000
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Fair value of common stock warrants reclassed from liability to additional paid-in capital upon exercise 352,000 0 3,975,000
Right-of-use assets obtained in exchange for new operating lease liabilities 1,693,000 643,000 1,647,000
Transfer of property and equipment from inventory 576,000 1,698,000 4,897,000
Purchase of property and equipment in accounts payable and accrued expenses 82,000 59,000 657,000
Offering costs included in accounts payable and accrued expenses $ 25,000 $ 460,000 $ 730,000