Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Operating Activities:    
Net loss $ (103,567) $ (25,388)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 12,670 9,181
Provision for doubtful accounts (688) 545
Provision for excess and obsolete inventory 305 544
Change in fair value of derivative liabilities 426 (1,485)
Change in fair value of contingent earnout liability (1,036) (57,307)
Amortization (accretion) of (discounts) premiums on available-for-sale securities (1,913) (92)
Stock-based compensation expense 13,987 18,209
Long-lived asset impairment 4,015 0
Goodwill impairment 29,467 0
Foreign exchange (gains) losses on intercompany transactions, net (75) 0
Changes in operating assets and liabilities    
Accounts receivable 5,967 (2,469)
Inventory (529) (14,050)
Prepaid expenses 107 1,144
Other current assets 1,321 (2,604)
Other assets (635) (922)
Accounts payable and accrued expenses (862) 3,401
Other current liabilities 26 (135)
Deferred revenue 648 3,756
Other long term liabilities (669) 0
Other non-current lease liabilities (7,865) (5,849)
Net cash provided by (used in) operating activities (48,900) (73,521)
Investing Activities:    
Purchases of property and equipment (3,591) (11,415)
Proceeds from the sale of property, plant and equipment 37 0
Cash paid for acquisitions, net of cash acquired 0 (35,939)
Purchases of available-for-sale securities (18,950) (43,544)
Proceeds from sales and maturities of marketable securities 64,602 0
Net cash provided by (used in) investing activities 42,098 (90,898)
Financing Activities:    
Acquisition holdback payment (250) 0
Proceeds from the exercise of common stock options 187 2,216
Taxes paid related to net share settlement of equity awards (457) (664)
Net cash provided by (used in) provided by financing activities (520) 1,552
Effect of exchange rate changes on cash (66) (64)
Net change in cash, cash equivalents, and restricted cash (7,388) (162,931)
Cash, cash equivalents, and restricted cash    
Beginning of year 125,672 288,603
End of period 118,284 125,672
Supplemental disclosure of cash flow information    
Cash and cash equivalents 116,854 124,242
Restricted cash in other non-current assets 1,430 1,430
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 118,284 125,672
Non cash operating activities    
Additions to right of use assets and liabilities from adoption of ASC 842 0 12,248
Right of use assets obtained in exchange for new lease liabilities 0 37,861
Non cash financing and investing activities    
Purchase of property and equipment in accounts payable and accrued expenses 325 4,347
Common stock issued for acquisitions 0 12,194
Common stock issued in connection with acquisition earnout achievement 0 750
Common stock disbursed to settle acquisition holdback $ 250 $ 0