XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net loss $ (16,285) $ (34,525)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,626 1,068
Bad debt expense 838 766
Amortization of debt issuance costs 404 391
Provision for obsolete inventory 42 (155)
Non-cash lease expense 180 137
Non-cash interest on share repurchase liability 493  
Shares issued in settlement of litigation   1,199
Share-based compensation expense 4,604 4,817
Loss from change in fair value of warrant liability   13,411
Loss from change in fair value of earnout liability 26,038 31,810
Deferred income taxes 0 236
Changes in operating assets and liabilities:    
Accounts receivable (1,684) (2,154)
Inventory (192) 3,942
Other current assets 818 (4,082)
Accounts payable 1,490 3,295
Deferred revenue 379 490
Accrued expenses (1,262) (848)
Operating lease liabilities (170) (31)
Net cash provided by operating activities 17,319 19,767
Investing Activities    
Purchases of short-term investments   (20,000)
Purchases of property and equipment (3,210) (67)
Purchases of capitalized software (692) (1,158)
Acquisitions, net of cash acquired (11,611)  
Net cash used in investing activities (15,513) (21,225)
Financing Activities    
Repurchases of common stock (5,599)  
Borrowings on revolving loans 10,000  
Principal repayments on term loan (3,125) (3,125)
Payments on repurchase liability (62,162)  
Proceeds from exercise of stock options 562 420
Issuance of stock under purchase plan 146  
Distributions (4,203) (6,588)
Net cash used in financing activities (64,381) (9,293)
Effect of exchange rate changes on cash and cash equivalents (8)  
Net decrease in cash and cash equivalents (62,583) (10,751)
Cash and cash equivalents at beginning of period 89,002 79,231
Cash and cash equivalents at end of period 26,419 68,480
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 3,972 4,581
Cash paid for income taxes 2,207 4,472
Non-cash investing and financing activities    
Capital expenditures and capitalized software included in accounts payable 85 $ 61
Shares issued to acquire Simpatra $ 1,841