v3.21.2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (26,905) $ (23,524)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,631 2,321
Stock-based compensation 760 770
Inventory write-downs   407
Non-cash interest expense   335
Accretion of debt discount   159
Loss on disposal of asset 59  
Deferred income taxes (9) (1)
Bad debt expense 685 289
Changes in operating assets and liabilities:    
Accounts receivable 669 4,897
Non-trade receivable (2,392) (619)
Inventory 1,438 6,296
Prepaid expenses and other current assets 589 44
Other assets (1,134) 134
Accounts payable 3,648 3,210
Accrued expenses 248 4,399
Warranty liability (234) (235)
Deferred revenue (5) (1)
Income tax payable 40 174
Net cash used in operating activities: (20,912) (710)
Cash flows from investing activities:    
Purchase of property and equipment (20) (203)
Net cash used in investing activities (20) (203)
Cash flows from financing activities:    
Repayment on long-term debt (111) (4,109)
Proceeds from PPP Loan   2,289
Repayment of PPP Loan   (2,289)
Proceeds from issuance of common stock, net of costs 9,046 25,056
Taxes paid on net issuance of restricted stock units   (6)
Proceeds from ESPP purchase of stock 38 42
Proceeds from exercise of stock options 5 304
Net cash provided by financing activities 8,978 21,287
Net increase (decrease) in cash and cash equivalents (11,954) 20,374
Cash and cash equivalents at beginning of period 22,141 11,298
Cash and cash equivalents at end of period 10,187 31,672
Supplemental disclosure of cash flow information:    
Cash paid for interest   260
Cash paid for income taxes 45 76
Non-cash investing and financing activities:    
Issuance of common stock included in other assets $ 1,291  
Other assets included in accounts payable   108
Settlement of long-term debt with issuance of common stock   $ 6,170

Source