Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net loss $ (73,714) $ (89,369)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation, amortization, and non-cash lease interest 9,339 9,543
Allowance for expected credit losses 351 (566)
Provision for excess and obsolete inventory 1,183 331
Change in fair value of derivative liabilities (189) (220)
Change in fair value of contingent earnout liability 6,274 2,509
Amortization (accretion) of (discounts) premiums on available-for-sale securities 0 (725)
Stock-based compensation expense 9,848 10,158
Loss on disposal of fixed assets 539 0
Gain on operating lease termination (973) 0
Long-lived asset impairment 0 4,015
Goodwill impairment 0 29,467
Other 2 0
Changes in operating assets and liabilities    
Accounts receivable 3,795 7,497
Inventory 3,879 (2,764)
Prepaid expenses (397) 671
Other current assets (198) 25
Other assets 162 (392)
Accounts payable and accrued expenses 15,182 (3,809)
Other current liabilities (190) 44
Deferred revenue (1,821) (72)
Other long term liabilities (953) (612)
Other non-current lease liabilities (8,068) (5,755)
Net cash provided by (used in) operating activities (35,949) (40,024)
Investing Activities:    
Purchases of property and equipment (1,911) (2,176)
Purchases of available-for-sale securities 0 (18,950)
Proceeds from sales and maturities of marketable securities 0 35,500
Net cash provided by (used in) investing activities (1,911) 14,374
Financing Activities:    
Payment of acquisition-related contingent liabilities (582) 0
Acquisition holdback payment 0 (250)
Proceeds from the exercise of common stock options 0 187
Taxes paid related to net share settlement of equity awards (444) (305)
Net cash provided by (used in) provided by financing activities (1,026) (368)
Effect of exchange rate changes on cash 57 (58)
Net change in cash, cash equivalents, and restricted cash (38,829) (26,076)
Cash and cash equivalents and restricted cash    
Beginning of year 118,284 125,672
End of period 79,455 99,596
Supplemental disclosures of cash flow information    
Cash and cash equivalents 59,279 98,166
Restricted cash 19,371 0
Restricted cash in other non-current assets 805 1,430
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 79,455 99,596
Non cash investing activities    
Common stock issued in connection with acquisition earnout achievement 750 0
Purchase of property and equipment in accounts payable and accrued expenses 52 133
Common stock disbursed to settle acquisition holdback 0 250
Acquisition of cross license (Note 15) $ 5,474 $ 0