XML 47 R7.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (87,126,000) $ (98,714,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,547,000 1,422,000
Loss on sale of property and equipment, net 59,000 0
Noncash lease expense relating to operating lease right-of-use assets 1,406,000 1,338,000
Impairment of long-lived assets 9,988,000 0
Gain from early termination of right-of-use assets (35,000) 0
Inventory write-downs, net of scrapped inventory 7,712,000 675,000
Loss on advances to suppliers 1,385,000 0
Change in fair value of convertible note and warrant liabilities 858,000 14,000
Realized loss on instrument-specific credit risk 46,000 0
Stock-based compensation 18,071,000 23,959,000
Convertible note issuance costs 0 474,000
Realized losses on redemptions of marketable securities 0 77,000
Amortization of premiums and accretion of discounts on marketable securities, net of change in accrued interest (211,000) 1,086,000
Expected credit losses 35,000 0
Changes in operating assets and liabilities:    
Accounts receivable, net 451,000 3,605,000
Inventories, current and noncurrent, net (2,459,000) (2,634,000)
Prepaid and other current assets 2,279,000 (1,130,000)
Other noncurrent assets 284,000 527,000
Accounts payable 252,000 839,000
Accrued expenses and other current liabilities (3,135,000) 85,000
Operating lease liabilities (1,528,000) (1,341,000)
Contract liabilities (987,000) (1,931,000)
Other noncurrent liabilities 383,000 0
Net cash used in operating activities (50,725,000) (71,649,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (1,951,000) (4,200,000)
Proceeds from sale of property and equipment 283,000 0
Proceeds from redemptions and maturities of marketable securities 76,350,000 96,592,000
Purchases of marketable securities (19,331,000) (23,929,000)
Net cash provided by investing activities 55,351,000 68,463,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 455,000 1,174,000
Proceeds from the issuance of convertible notes 0 9,850,000
Payments for convertible note redemptions (6,235,000) (874,000)
Payment of 2022 convertible note issuance costs 0 (324,000)
Taxes paid related to the net share settlement of equity awards (1,445,000) (4,621,000)
Proceeds from issuance of common stock under the Common Stock Purchase Agreement 136,000 2,891,000
Stock issuance costs related to the Common Stock Purchase Agreement (3,000) (29,000)
Proceeds from issuance of common stock through the Employee Stock Purchase Plan 334,000 0
Net cash (used in) provided by financing activities (6,758,000) 8,067,000
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (2,132,000) 4,881,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 21,214,000 16,333,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period 19,082,000 21,214,000
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 115,000 133,000
Cash paid for income taxes 16,000 20,000
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property and equipment included in accounts payable and accrued liabilities 0 28,000
Operating lease right-of-use assets obtained in exchange for lease obligations upon adoption of ASC 842 0 556,000
Operating lease liabilities extinguished upon early lease termination 335,000 0
Conversion of convertible notes and accrued interest into Class A common stock 3,338,000 600,000
Taxes related to net share settlement of equity awards included in accrued liabilities 0 4,000
Operating lease right-of-use assets obtained in exchange for lease obligations upon adoption of ASC 842    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Operating lease right-of-use assets obtained in exchange for lease obligations upon adoption of ASC 842 $ 0 $ 16,284,000