v3.20.2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (23,524) $ (17,498)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,321 2,669
Stock-based compensation 770 5,911
Inventory write-downs 407 2,109
Trade-in guarantee   (268)
Non-cash interest expense 335 50
Accretion of debt discount 159 90
Deferred income taxes (1) (7)
Bad debt expense 289  
Changes in operating assets and liabilities:    
Accounts receivable 4,278 1,507
Inventory 6,296 (5,185)
Prepaid expenses and other current assets 44 2,968
Other assets 134 (2,722)
Accounts payable 3,210 (9,710)
Accrued expenses 4,399 (5,263)
Deferred revenue (1) (3,657)
Income tax payable 174 203
Net cash used in operating activities (710) (28,803)
Cash flows from investing activities:    
Purchase of property and equipment (203) (908)
Development of tooling and purchased software licenses   (347)
Net cash used in investing activities (203) (1,255)
Cash flows from financing activities:    
Repayment on long-term debt (4,110) (3,621)
Proceeds on line of credit   5,614
Repayment on line of credit   (5,614)
Proceeds from PPP Loan 2,289  
Repayment of PPP Loan (2,289)  
Proceeds from issuance of common stock, net of costs 25,056 1,604
Proceeds from issuance of common stock upon IPO, net of costs   37,180
Taxes paid on net issuance of restricted stock award and restricted stock units (6) (1,897)
Proceeds from exercise of warrants   23
Proceeds from ESPP purchase of stock 43  
Proceeds from exercise of stock options 304 69
Net cash provided by financing activities 21,287 33,358
Net increase in cash and cash equivalents 20,374 3,300
Cash and cash equivalents at beginning of period 11,298 13,049
Cash and cash equivalents at end of period 31,672 16,349
Supplemental disclosure of cash flow information:    
Cash paid for interest 260 1,392
Cash paid for income taxes 76 352
Non-cash investing and financing activities:    
Other assets included in accounts payable 108 74
IPO issuance costs included in accounts payable   $ 331
Settlement of long-term debt with issuance of common stock $ 6,170  

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