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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (39,882) $ (25,725)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 4,025 2,019
Provision for allowance for credit losses 2,207 78
Share-based compensation expense 14,148 6,288
Non-cash lease expense 1,182 1,264
Amortization of debt issuance costs 149 148
Accretion (amortization) of discount (premium) on marketable securities, net (685) (663)
Other, net 159 5
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 10,297 1,886
Inventory (12,034) (6,704)
Prepaid expenses and other assets 185 (1,641)
Operating lease liabilities (1,291) 1,072
Accounts payable 6,238 (522)
Accrued liabilities (5,943) (3,137)
Other, net 127 38
Net cash used in operating activities (21,118) (25,594)
Cash flows from investing activities    
Purchases of available-for-sale marketable securities (28,711) (120,957)
Sales and maturities of available-for-sale marketable securities 60,558 55,763
Purchases of property and equipment (5,656) (5,709)
Acquisition, net of cash acquired 0 (20,000)
Net cash provided by (used in) investing activities 26,191 (90,903)
Cash flows from financing activities    
Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million 0 107,527
Proceeds from exercise of employee stock options 363 1,532
Taxes from withheld shares (237) 0
Net cash provided by (used in) financing activities 126 109,059
Net increase (decrease) in cash and cash equivalents 5,199 (7,438)
Cash and cash equivalents at beginning of period 12,982 19,473
Cash and cash equivalents at end of period 18,181 12,035
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,490 2,567
Operating lease right-of-use asset and lease liability adjustment due to lease incentive 86 (13)
Noncash investing activities:    
Unrealized (gains) losses, net on marketable securities 189 192
Unsettled matured marketable security and receivable from broker $ 2,000 $ 0