XML 16 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net income (loss) $ 3,424 $ (39,797)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non-cash lease expense 362 416
Depreciation and amortization 564 399
Stock-based compensation 1,357 810
Provision for uncollectible accounts   2,885
Unrealized exchange (gain) or loss 373 49
Provision for inventory 369 469
Change in fair value of warrant liabilities (4,507) 1,679
Change in fair value of derivative liabilities (1,895) 35
Change in fair value of Revenue Interest Financing and PIPE Conversion Option (1,496)  
Change in fair value of earn-out liabilities (19,880)  
Interest paid on debt recorded at fair value (1,054)  
Change in fair value of debt (8,230) (2,257)
Debt issuance costs associated with debt recorded at fair value 1,357  
Non-cash interest expense 1,464 775
Non-cash termination of convertible note side letters   6,632
Loss on term loan extinguishment 8,713 0
Changes in operating assets and liabilities:    
Accounts receivable 4,412 930
Inventory 1,014 (1,468)
Prepaid expenses, other current and long-term assets 718 634
Lease liabilities (411) (391)
Accounts payable (2,504) 5,021
Accrued expenses and other current liabilities (1,713) 3,162
Net cash used in operating activities (17,563) (20,017)
Investing Activities:    
Purchases of property and equipment (539) (408)
Net cash used in investing activities (539) (408)
Financing Activities:    
Proceeds from issuance of convertible notes 48,000 19,550
Proceeds from option and warrant exercises 26 61
Proceeds from equity line financing 378  
Repayment of convertible notes   (500)
Payment of deferred financing costs   (1,604)
Payment of debt issuance costs (1,357)  
Net cash provided by financing activities (673) 17,507
Net increase (decrease) in cash and cash equivalents and restricted cash (18,775) (2,918)
Cash and cash equivalents and restricted cash at beginning of period 38,421 8,023
Cash and cash equivalents and restricted cash at end of period 19,646 5,105
Supplemental disclosure of cash flow information    
Cash paid for interest 2,672 3,967
Supplemental cash flow information on non-cash investing and financing activities    
Purchase of property and equipment included in accounts payable 31 165
Deferred financing costs in accounts payable and accrued expenses 1,207 $ 6,918
Change in fair value of Revenue Interest Financing through OCI (5,280)  
Fortress Term Loan    
Financing Activities:    
Repayment of Term Loan $ (47,720)