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, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (15,966) $ (17,060)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,045 1,647
Stock-based compensation 475 458
Inventory write-downs   407
Non-cash interest expense   166
Accretion of debt discount   159
Loss on disposal of asset 27  
Deferred income taxes (5) 30
Bad debt expense (benefit) (45) 289
Changes in operating assets and liabilities:    
Accounts receivable (2,111) 5,278
Non-trade receivable (3,985) (464)
Inventory (544) 3,899
Prepaid expenses and other current assets 38 (150)
Other assets (226) 138
Accounts payable 7,412 4,000
Accrued expenses (1,985) 6,866
Warranty liability (237) (235)
Deferred revenue 867 55
Income tax payable 26 179
Net cash provided by (used in) operating activities (15,214) 5,662
Cash flows from investing activities:    
Purchase of property and equipment   (193)
Net cash used in investing activities   (193)
Cash flows from financing activities:    
Repayment on long-term debt (74) (4,036)
Proceeds from PPP Loan   2,289
Repayment of PPP Loan   (2,289)
Proceeds from issuance of common stock, net of costs   24,992
Taxes paid on net issuance of restricted stock units   (6)
Proceeds from ESPP purchase of stock 38 42
Proceeds from exercise of stock options 5 303
Net cash provided by (used in) financing activities (31) 21,295
Net increase (decrease) in cash and cash equivalents (15,245) 26,764
Cash and cash equivalents at beginning of period 22,141 11,298
Cash and cash equivalents at end of period 6,896 38,062
Supplemental disclosure of cash flow information:    
Cash paid for interest   260
Cash paid for income taxes $ 40 77
Non-cash investing and financing activities:    
Other assets included in accounts payable   110
Settlement of long-term debt with issuance of common stock   $ 6,001