Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net loss $ (50,344) $ (38,007)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 6,244 6,677
Provision for doubtful accounts 328 (866)
Provision for excess and obsolete inventory 718 140
Change in fair value of derivative liabilities (126) (314)
Change in fair value of contingent earnout liability (1,134) 7
Amortization (accretion) of (discounts) premiums on available-for-sale securities 0 (1,304)
Stock-based compensation expense 6,706 6,046
Long-lived asset impairment 0 4,015
Other 6 0
Changes in operating assets and liabilities    
Accounts receivable 2,051 3,017
Inventory 3,312 (3,429)
Prepaid expenses 688 1,862
Other current assets 69 35
Other assets (7) (212)
Accounts payable and accrued expenses 14,585 (4,235)
Other current liabilities (190) (352)
Deferred revenue (655) 330
Other long term liabilities (477) (368)
Other non-current lease liabilities (3,696) (3,742)
Net cash provided by (used in) operating activities (21,922) (30,700)
Investing Activities:    
Purchases of property and equipment (1,491) (2,157)
Purchases of available-for-sale securities 0 (18,950)
Proceeds from sales and maturities of marketable securities 0 13,500
Net cash provided by (used in) investing activities (1,491) (7,607)
Financing Activities:    
Payment of acquisition-related contingent liabilities (582) 0
Acquisition holdback payment 0 (250)
Proceeds from the exercise of common stock options 0 181
Taxes paid related to net share settlement of equity awards (340) (146)
Net cash provided by (used in) provided by financing activities (922) (215)
Effect of exchange rate changes on cash (7) (62)
Net change in cash, cash equivalents, and restricted cash (24,342) (38,584)
Cash and cash equivalents and restricted cash    
Beginning of year 118,284 125,672
End of period 93,942 87,088
Supplemental disclosures of cash flow information    
Cash and cash equivalents 73,390 85,658
Restricted cash 19,122 0
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 93,942 87,088
Non cash investing activities    
Purchase of property and equipment in accounts payable and accrued expenses 56 133
Common stock issued in connection with acquisition earnout achievement 750 0
Common stock disbursed to settle acquisition holdback $ 0 $ 250