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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss $ (49,527) $ (42,815) $ (20,552)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization expense 5,352 2,133 685
Provision for allowance for doubtful accounts 434 411 144
Share-based compensation expense 17,352 8,111 3,409
Non-cash lease expense 2,461 2,522 0
Amortization of debt issuance costs 297 244 176
Gain on fair value adjustment to derivative liability 0 (173) (72)
Debt extinguishment loss 0 4,483 0
Loss on impairment of long-lived assets 0 346 0
Accretion (amortization) of discount (premium) on marketable securities, net (1,406) (126) 0
Other, net 205 25 0
Net changes in operating assets and liabilities, net of acquisitions:      
Accounts Receivable (9,301) (11,039) (4,226)
Inventory (9,848) (8,769) (2,741)
Prepaid expenses and other assets (1,210) (668) (2,417)
Other non-current assets 0 (146) 0
Other liabilities (119) 3,076 0
Accounts payable 3,167 4,612 1,791
Accrued liabilities 7,528 7,125 6,610
Other, net 40 0 0
Net cash used in operating activities (34,575) (30,648) (17,193)
Cash flows from investing activities      
Purchases of available-for-sale marketable securities (169,865) (63,409) 0
Sales and maturities of available-for-sale marketable securities 120,024 1,729 0
Purchases of property and equipment (11,458) (14,838) (2,705)
Acquisition, net of cash acquired (20,000) 0 0
Net cash used in investing activities (81,299) (76,518) (2,705)
Cash flows from financing activities      
Proceeds from interest bearing term debt 0 49,651 0
Proceeds from interest bearing revolving debt 0 3,850 0
Debt issuance costs 0 (989) 0
Payments on interest bearing debt 0 (33,893) 0
Payments on PPP Loan 0 0 (1,788)
Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million and $10.6 million 107,527 0 107,610
Proceeds from exercise of employee stock options 1,869 2,187 1,830
Taxes from withheld shares (13) 0 0
Net cash provided by financing activities 109,383 20,806 107,652
Net decrease in cash and cash equivalents (6,491) (86,360) 87,754
Cash and cash equivalents at beginning of period 19,473 105,833 18,079
Cash and cash equivalents at end of period 12,982 19,473 105,833
Supplemental disclosure of cash flow information:      
Cash paid for interest 5,167 4,398 3,900
Operating lease right-of-use assets obtained in exchange for new lease liabilities 0 15,300 0
Operating lease right-of-use asset and lease liability adjustment due to lease incentive (22) 3,615 0
Noncash investing activities and financing activities:      
Unrealized (gains) losses on marketable securities (190) 27 0
Unsettled matured marketable security and receivable from broker 3,000 0 0
Noncash portion of internally developed software (11) 0 0
Issuance of common stock upon exercise of warrants 0 0 1
Conversion of convertible preferred stock and accrued dividends on convertible preferred stock into common stock $ 0 $ 0 $ 7,935