Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (9,522) $ 736
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,725 1,183
Stock-based compensation 796 667
Stock issued for services 201
Impairment of contract fulfillment assets 3,217
Other 132 (138)
Changes in operating assets and liabilities:    
Accounts receivable 3,215 (4,143)
Non-trade receivable (1,237) 1,261
Inventory 1,695 (826)
Prepaid expenses and other current assets (1,397) 437
Contract fulfillment assets (3,673) (1,117)
Other assets (177) (64)
Accounts payable 625 (213)
Accrued liabilities 1,062 (1,367)
Deferred revenue (31)
Income tax payable (21) 17
Net cash used in operating activities (3,560) (3,397)
Cash flows from investing activities:    
Purchase of property and equipment (69) (23)
Net cash used in investing activities (69) (23)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,784
Repayment of debt (73)
Proceeds from stock option exercises, net of taxes paid on vested restricted stock units 48
Net cash provided by (used in) financing activities 3,832 (73)
Net increase (decrease) in cash and cash equivalents 203 (3,493)
Cash and cash equivalents at beginning of period 9,397 13,213
Cash and cash equivalents at end of period 9,600 9,720
Supplemental disclosure of cash flow information:    
Cash paid for interest 17 5
Cash paid for income taxes 12 69
Non-cash activities:    
Receivables transferred to satisfy payables (Note 4) 11,308
Inventory financed through accrued expenses 2,198
Contract fulfillment assets financed through accrued expenses $ 2,166