Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net loss $ (35,946) $ (19,019)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 3,099 2,430
Provision for doubtful accounts 161 (523)
Provision for excess and obsolete inventory 260 150
Change in fair value of derivative liabilities (31) (189)
Change in fair value of contingent earnout liability 161 (808)
Amortization (accretion) of (discounts) premiums on available-for-sale securities 0 (670)
Stock-based compensation expense 3,461 4,356
Other (2) 0
Changes in operating assets and liabilities    
Accounts receivable 2,339 3,708
Inventory 2,533 (2,998)
Prepaid expenses (584) 511
Other current assets 272 (28)
Other assets 20 85
Accounts payable and accrued expenses 18,676 (2,117)
Other current liabilities (22) 0
Deferred revenue 226 788
Other long term liabilities (185) 0
Other non-current lease liabilities (1,854) (1,218)
Net cash provided by (used in) operating activities (7,416) (15,542)
Investing Activities:    
Purchases of property and equipment (1,323) (1,646)
Purchases of available-for-sale securities 0 (18,950)
Proceeds from sales and maturities of marketable securities 0 2,500
Net cash provided by (used in) investing activities (1,323) (18,096)
Financing Activities:    
Proceeds from the exercise of common stock options 0 180
Taxes paid related to net share settlement of equity awards (181) (118)
Net cash provided by (used in) provided by financing activities (181) 62
Effect of exchange rate changes on cash (10) 8
Net change in cash, cash equivalents, and restricted cash (8,930) (33,568)
Cash and cash equivalents and restricted cash    
Beginning of year 118,284 124,242
End of period 109,354 90,674
Supplemental disclosures of cash flow information    
Cash and cash equivalents 107,924 90,674
Restricted cash in other non-current assets 1,430 1,430
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 109,354 92,104
Non-cash financing and investing activities    
Purchase of property and equipment in accounts payable and accrued expenses $ 280 $ 899