Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (14,558) $ (16,297)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,405 618
Amortization of right-of-use assets 960 802
Amortization of intangible assets 96 72
Amortization of deferred financing fees 227 0
Provision for bad debt (65) (115)
Provision for inventory write-down 2,455 1,624
Changes in fair value of derivatives 105 0
Changes in investment gains and losses 31 (141)
Share-based compensation 6,499 2,778
Change in operating assets and liabilities:    
Accounts receivable (498) 3,010
Inventory (3,341) (600)
Prepaid expenses and other 199 (1,699)
Accounts payable and accrued expenses (5,061) (4,212)
Operating lease obligations 35 (915)
Cash paid for interest portion of finance leases (1) 0
Contract and other liabilities (3) (6)
Net cash used in operating activities (11,515) (15,081)
Cash flows from investing activities:    
Purchase of property and equipment (10,924) (13,183)
Purchase of investments (23,966) (22,965)
Proceeds from sale of investments 32,295 59,883
Cash payments for intangible assets (692) (216)
Net cash (used in) provided by investing activities (3,287) 23,519
Cash flows from financing activities:    
Proceeds from the issuance of long-term debt 15,000 35,000
Proceeds from the paycheck protection program 0 7,820
Repayment of paycheck protection program 0 (7,820)
Payments for debt issuance costs 0 (350)
Payments of employee tax withholding in exchange of common stock awards 0 (658)
Cash paid for debt portion of finance leases (8) (8)
Proceeds from exercise of stock options 3,612 1,784
Net cash provided by financing activities 18,604 35,768
Net increase in cash, cash equivalents, and restricted cash 3,802 44,206
Cash, cash equivalents, and restricted cash, beginning of period 55,609 41,724
Cash, cash equivalents and restricted cash, end of period 59,411 85,930
Supplemental disclosures of cash flow activity:    
Cash paid for interest 739 23
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of fixed assets in accounts payable and accrued expenses 3,035 617
Obtaining a right-of-use asset in exchange for a lease liability 371 796
Embedded derivative associated with the long-term debt 1,173 2,563
Acquisition of intangible assets in accounts payable and accrued expenses $ 190 $ 0