Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.23.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (14,087) $ (38,627)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,375 2,129
Stock-based compensation 1,551 1,085
Loss on disposal of assets 130 54
Inventory write-downs 1,594
Stock issued for services 514
Amortization of lease liability (788)
Deferred income taxes (35)
Gain on termination of lease (730)
Bad debt expense 5 867
Changes in operating assets and liabilities:    
Accounts receivable (11,635) (7,518)
Non-trade receivable (14) (1,802)
Inventory 1,634 4,181
Prepaid expenses and other current assets 4,045 1,617
Contract fulfillment assets (6,236) 544
Other assets (448) (3,271)
Accounts payable 11,653 617
Accrued expenses (369) (83)
Deferred revenue 20 6
Income tax payable 20 166
Net cash used in operating activities (12,360) (38,476)
Cash flows from investing activities:    
Purchase of property and equipment (8) (46)
Net cash used in investing activities (8) (46)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of costs 14,415 27,702
Proceeds from exercise of stock options 5
Proceeds from ESPP 55
Repayment of long-term debt (67) (148)
Net cash provided by financing activities 14,348 27,614
Net increase (decrease) in cash and cash equivalents 1,980 (10,908)
Cash and cash equivalents at beginning of the year 11,233 22,141
Cash and cash equivalents at end of the year 13,213 11,233
Supplemental disclosure of cash flow information:    
Cash paid for interest 97
Cash paid for income taxes $ 151 $ 87