Unaudited Quarterly Financial Information

12 Months Ended

Dec. 31, 2022

Quarterly Financial Data [Abstract]

Unaudited Quarterly Financial Information

Unaudited Quarterly Financial Information

The following tables summarize the consolidated quarterly results of operations for 2022 and 2021:

	2022
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenue	$	8,710	$	9,070	$	16,530	$	20,885
Gross profit	897		553		225		54
Net loss	(13,801)		(25,686)		(18,615)		(28,304)
Net loss per share - basic and diluted	$	(0.10)	$	(0.18)	$	(0.13)	$	(0.20)

	2021
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Total revenue	$	3,693	$	4,678	$	8,424	$	6,598
Gross profit	449		728		3,467		(615)
Net income (loss)	(13,506)		(22,977)		20,807		4,788
Net income (loss) per share - basic	$	(1.29)	$	(1.93)	$	0.17	$	0.03
Net income (loss) per share - diluted	(1.29)		(1.93)		0.14		0.03

The following tables summarize the impact of the revisions described in Note 21 to the periods ending March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
	As Previously Reported		Adjustment		As Revised
Revenue:
Product revenue	$	5,194	$	—	$	5,194
Subscription revenue	3,020		(16)		3,004
Service revenue	501		11		512
Total revenue	8,715		(5)		8,710
Cost of revenue:
Cost of product revenue	5,576		(370)		5,206
Cost of subscription revenue	1,065		477		1,542
Cost of service revenue	448		617		1,065
Total cost of revenue	7,089		724		7,813
Gross profit	1,626		(729)		897
Operating expenses:
Research and development	4,286		(111)		4,175
Sales and marketing expense	12,053		(2,381)		9,672
General and administrative	11,093		(276)		10,817
Loss from impairment of property and equipment	96		—		96
Total operating expenses	27,528		(2,768)		24,760
Loss from operations	(25,902)		2,039		(23,863)
Other income (expense), net:
Interest expense	(142)		—		(142)
Interest income	209		(141)		68
Change in fair value of contingent earn-out liability	4,226		(1,148)		3,078
Change in fair value of contingently issuable common stock liability	1,472		—		1,472
Change in fair value of public warrant liability	5,586		—		5,586
Total other income (expense), net	11,351		(1,289)		10,062
Net loss	$	(14,551)	$	750	$	(13,801)
Weighted average common shares outstanding - basic and diluted	142,878,406		—		142,878,406
Net loss per share - basic and diluted	$	(0.10)	$	—	$	(0.10)

	Three Months Ended March 31, 2021
	As Previously Reported		Adjustment		As Revised
Revenue:
Product revenue	$	2,502	$	(235)	$	2,267
Subscription revenue	1,300		(73)		1,227
Service revenue	197		2		199
Total revenue	3,999		(306)		3,693
Cost of revenue:
Cost of product revenue	2,229		(13)		2,216
Cost of subscription revenue	595		148		743
Cost of service revenue	127		158		285
Total cost of revenue	2,951		293		3,244
Gross profit	1,048		(599)		449
Operating expenses:
Research and development	3,612		128		3,740
Sales and marketing expense	3,684		(1,076)		2,608
General and administrative	2,899		153		3,052
Total operating expenses	10,195		(795)		9,400
Loss from operations	(9,147)		196		(8,951)
Other income (expense), net:
Interest expense, net	(2,447)		53		(2,394)
Change in fair value of derivative liability	(1,425)		—		(1,425)
Change in fair value of common stock warrant liability	(736)		—		(736)
Total other income (expense), net	(4,608)		53		(4,555)
Net loss	$	(13,755)	$	249	$	(13,506)
Weighted average common shares outstanding - basic and diluted	10,443,323		—		10,443,323
Net loss per share - basic and diluted	$	(1.32)	$	0.03	$	(1.29)

	Three Months Ended March 31, 2022
	As Previously Reported		Adjustment		As Revised
Cash flows from operating activities:
Net loss	$	(14,551)	$	750	$	(13,801)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	948		138		1,086
Write-off of inventory	324		—		324
Adjustment to property and equipment for sales type leases	(321)		(304)		(625)
Loss from impairment of property and equipment	96		—		96
Stock-based compensation	5,190		(1,263)		3,927
Non-cash interest expense	5		—		5
Non-cash lease expense	197		—		197
Change in fair value of earn-out liability	(4,226)		1,148		(3,078)
Change in fair value of contingently issuable common stock	(1,472)		—		(1,472)
Change in fair value of public warrant liability	(5,586)		—		(5,586)
Changes in operating assets and liabilities
Accounts receivable	(2,112)		—		(2,112)
Inventory	(6,985)		5,675		(1,310)
Commission assets	(351)		—		(351)
Contract assets	108		—		108
Other assets	—		141		141
Prepaid expenses and other current assets	(5,280)		(291)		(5,571)
Accounts payable	(1,867)		1,012		(855)
Deferred revenue	2,778		(201)		2,577
Deferred rent	(468)		468		—
Accrued expenses and other current liabilities	(2,065)		(368)		(2,433)
Operating lease liability	(229)		(468)		(697)
Net cash used in operating activities	(35,867)		6,437		(29,430)
Cash flows from investing activities:
Development of internal-use software	(646)		(82)		(728)
Purchases of property and equipment	(323)		(6,366)		(6,689)
Net cash used in investing activities	(969)		(6,448)		(7,417)
Cash flows from financing activities:
Proceeds from exercise of stock options	216		11		227
Net cash provided by financing activities	216		11		227
Net increase (decrease) in cash, cash equivalents and restricted cash	(36,620)		—		(36,620)
Cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	308,167		—		308,167
Cash, cash equivalents and restricted cash at end of period	$	271,547	$	—	$	271,547
Supplemental disclosure of non-cash activities
Transfer of inventory to property and equipment	$	4,620	$	(4,620)	$	—
Capital expenditures incurred but not yet paid	1,693		698		2,391

	Three Months Ended March 31, 2021
	As Previously Reported		Adjustment		As Revised
Cash flows from operating activities:
Net loss	$	(13,755)	$	249	$	(13,506)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	452		—		452
Stock-based compensation	1,082		(773)		309
Non-cash interest expense	2,344		—		2,344
Provision recorded for allowance for doubtful accounts	(63)		—		(63)
Change in fair value of derivative liability	1,425		—		1,425
Change in fair value of common stock warrant liability	736		—		736
Changes in operating assets and liabilities
Accounts receivable	(874)		—		(874)
Inventory	(433)		(47)		(480)
Commission assets	(391)		—		(391)
Contract assets	(119)		—		(119)
Other assets	—		7		7
Prepaid expenses and other current assets	(4,104)		377		(3,727)
Accounts payable	1,194		(235)		959
Deferred revenue	(621)		(185)		(806)
Deferred rent	(11)		—		(11)
Accrued expenses and other current liabilities	1,100		206		1,306
Net cash used in operating activities	(12,038)		(401)		(12,439)
Cash flows from investing activities:
Purchases of property and equipment	(2,522)		401		(2,121)
Net cash used in investing activities	(2,522)		401		(2,121)
Cash flows from financing activities:
Proceeds from exercise of stock options	455		—		455
Repayment of financing obligations	(359)		—		(359)
Proceeds from long-term debt, net of issuance costs	31,882		—		31,882
Net cash provided by financing activities	31,978		—		31,978
Net increase (decrease) in cash, cash equivalents and restricted cash	17,418		—		17,418
Cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	4,704		—		4,704
Cash, cash equivalents and restricted cash at end of period	$	22,122	$	—	$	22,122
Supplemental disclosure of non-cash activities
Capital expenditures incurred but not yet paid	—		1,335		1,335
Issuance of equity classified warrants	1		—		1