Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 1,263 $ (13,045)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,250 555
Stock-based compensation 1,038 1,136
Stock issued for services 345 514
Amortization of lease liability and lease interest expense (201) (561)
Loss on disposal of assets 130
Gain on termination fee (730)
Lease termination fee (260)
Bad debt expense (benefit) 2
Changes in operating assets and liabilities:    
Accounts receivable (7,915) (5,485)
Non-trade receivable 639 1,365
Inventory (309) 1,454
Prepaid expenses and other current assets 352 3,415
Contract fulfillment costs (1,973) (1,604)
Other assets (105) 139
Accounts payable 2,130 2,962
Accrued expenses (228) (450)
Deferred revenue (20) 255
Income tax payable 33 71
Net cash provided by (used in) operating activities (3,701) (10,137)
Cash flows from investing activities:    
Purchase of property and equipment (24) (6)
Net cash used in investing activities (24) (6)
Cash flows from financing activities:    
Repayment of debt (110) (30)
Proceeds from exercise of stock options 419
Proceeds from issuance of common stock, net of costs 14,414
Net cash provided by (used in) financing activities 309 14,384
Net increase (decrease) in cash and cash equivalents (3,416) 4,241
Cash and cash equivalents at beginning of period 13,213 11,233
Cash and cash equivalents at end of period 9,797 15,474
Supplemental disclosure of cash flow information:    
Cash paid for interest 11 96
Cash paid for income taxes $ 69 $ 103