Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CASH FLOWS

v3.20.4
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (29,932) $ (25,834)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Depreciation and amortization 2,728 3,525
Stock-based compensation 1,087 6,308
Trade-in guarantee   (268)
Inventory write-downs 702 3,109
Noncash interest expense 166 367
Accretion of debt discount 328 90
Deferred income taxes 21 109
Bad debt expense 302 45
Changes in operating assets and liabilities:    
Accounts receivable 5,464 8,749
Inventory 7,485 (809)
Prepaid expenses and other current assets (1,104) 3,681
Other assets 531 (3,803)
Accounts payable 1,494 (20,165)
Accrued expenses 1,172 (6,117)
Deferred revenue (286) (3,664)
Income tax payable (718) 1,154
Net cash used in operating activities (10,560) (33,523)
Cash flows from investing activities:    
Purchase of property and equipment (11) (992)
Development of tooling and purchased software licenses   (364)
Net cash used in investing activities (11) (1,356)
Cash flows from financing activities:    
Proceeds on line of credit   5,614
Repayment on line of credit   (5,614)
Proceeds from issuance of common stock, net of costs 25,086 38,468
Proceeds from PPP Loan 2,289  
Repayment of PPP Loan (2,289)  
Taxes paid on net issuance of restricted stock award and restricted stock units (6) (1,897)
Proceeds from exercise of warrants   23
Proceeds from exercise of stock options 382 81
Proceeds from ESPP 98 146
Repayment of long-term debt (4,146) (3,693)
Net cash provided by financing activities 21,414 33,128
Net increase (decrease) in cash and cash equivalents 10,843 (1,751)
Cash and cash equivalents at beginning of the year 11,298 13,049
Cash and cash equivalents at end of the year 22,141 11,298
Supplemental disclosure of cash flow information:    
Cash paid for interest 260 1,043
Cash paid for income taxes 76 273
Non-cash investing and financing activities:    
Other assets included in accounts payable 128  
IPO issuance costs included in accounts payable   $ 14
Settlement of long-term debt with issuance of common stock $ 6,170