Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (12,034) $ 1,263
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2,643 1,250
Stock-based compensation 1,169 1,038
Stock issued for services 345
Inventory write-downs 1,013
Impairment of contract fulfillment assets 3,217
Other 287 (201)
Changes in operating assets and liabilities:    
Accounts receivable 8,579 (7,915)
Non-trade receivable (3,361) 639
Related party receivable (644)
Inventory (6,870) (309)
Prepaid expenses and other current assets (639) 352
Contract fulfillment assets (8,643) (1,973)
Other assets (125) (105)
Accounts payable 517 2,130
Accrued liabilities 10,828 (248)
Income tax payable 86 33
Net cash used in operating activities (3,977) (3,701)
Cash flows from investing activities:    
Purchase of property and equipment (206) (24)
Net cash used in investing activities (206) (24)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,798
Repayment of debt (110)
Proceeds from stock option exercises, net of taxes paid on vested restricted stock units 48 419
Net cash provided by financing activities 3,846 309
Net decrease in cash and cash equivalents (337) (3,416)
Cash and cash equivalents at beginning of period 9,397 13,213
Cash and cash equivalents at end of period 9,060 9,797
Supplemental disclosure of cash flow information:    
Cash paid for interest 17 11
Cash paid for income taxes 12 69
Non-cash activities:    
Receivables transferred to satisfy payables (Note 4) $ 11,308