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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (16,286) $ (30,940)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 1,356 2,816
Amortization of intangible assets 1,410 1,824
Stock-based compensation 10,012 14,902
Non-cash lease expense (benefit) 670 (139)
Deferred income tax expense 51 5
Change in fair value of equity investments 0 4,074
Accretion of available-for-sale investments (305) (318)
Gain on disposal of property and equipment, net 0 (66)
Loss on disposal of assets held for rent, net 343 335
IPR&D expense 15,521 0
Loss on disposal of Global Cooling 0 8,897
Change in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable, trade, net (892) (1,874)
Inventories 1,260 1,807
Prepaid expenses and other assets 423 2,920
Accounts payable (455) (766)
Accrued expenses and other current liabilities (3,388) (840)
Sales taxes payable (625) (388)
Other 0 (265)
Net cash provided by operating activities 9,095 1,984
Cash flows from investing activities    
Purchases of available-for-sale securities (64,303) (10,712)
Proceeds from sale of available-for-sale securities 1,755 1,790
Maturities of available-for-sale securities 8,390 11,250
Purchases of assets held for rent (412) (1,594)
Purchases of property and equipment (1,918) (1,351)
Investment in IPR&D (10,221) 0
Payments on divestiture of Global Cooling 0 (13,039)
Net cash used in investing activities (66,709) (13,656)
Cash flows from financing activities    
Payments on equipment loans 0 (468)
Proceeds from exercises of common stock options 18 91
Payments on term loans (5,000) 0
Payments on financed insurance premium (908) (1,247)
Other 20 (32)
Net cash used in financing activities (5,870) (1,656)
Net decrease in cash and cash equivalents (63,484) (13,328)
Cash and cash equivalents – beginning of period 95,386 35,438
Effects of currency translation on cash and cash equivalents 0 (65)
Cash and cash equivalents – end of period 31,902 22,045
Non-cash investing and financing activities    
Purchase of property and equipment not yet paid 90 302
Assets acquired under operating leases 0 309
Unrealized gains on currency translation 0 4
Unrealized losses on available-for-sale securities 47 18
Non-cash acquisition of PanTHERA 5,300 0
Cash interest paid $ 480 $ 829