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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating activities:    
Net (loss) income $ (11,506) $ 6,910
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 310 242
Reserve for inventory obsolescence 423 52
Change in fair value of preferred stock warrant and contingent shares liability (196) 512
Non-cash interest expense 2,235 47
Stock-based compensation 2,505 366
Allowance for credit losses (990) 109
Loss on debt extinguishment   171
Non-cash lease expense 300 167
Accretion of interest on marketable securities (128) (7)
Changes in operating assets and liabilities:    
Accounts receivable 1,546 (16,535)
Inventory 5,221 (11,780)
Prepaid expenses and other assets 845 (1,175)
Accounts payable (9,448) 14,815
Accrued expenses and other liabilities (2,207) 407
Deferred revenue 250 486
Warranty liability (153) 275
Operating lease liabilities (273) (149)
Net cash used in operating activities (11,266) (5,087)
Investing activities:    
Purchase of marketable securities   (10,068)
Acquisition of fSight   55
Purchase of intangible assets   (450)
Purchase of property and equipment (367) (192)
Sales and maturities of marketable securities 16,003  
Net cash provided (used) by investing activities 15,636 (10,655)
Financing activities:    
Proceeds from Convertible Promissory Note   50,000
Repayment of from Series 2022-1 Notes   (20,833)
Payment of financing costs   (100)
Payment of deferred issuance costs related to future equity issuance   (527)
Proceeds from exercise of stock options 250 91
Net cash provided by financing activities 250 28,631
Net increase in cash and cash equivalents 4,620 12,889
Cash and cash equivalents at beginning of period 4,405 37,717
Cash and cash equivalents at end of period 9,025 50,606
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,250 168
Cash paid for income taxes 126  
Supplemental schedule of non-cash investing and financing activities:    
Deferred issuance costs related to future equity issuance in accrued expenses and accounts payable   174
Financing costs in accounts payable   257
Operating lease right of use assets obtained in exchange for operating lease liabilities 82 1,266
Property and equipment in accounts payable 32 1,026
Non-cash consideration paid for the acquisition of fSight 239 10,078
Contingent shares liability from fSight acquisition 92 1,990
Unrealized gain resulting from change in fair value of marketable securities $ 12 $ 14