Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (9,964) $ (21,716) $ (28,948)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation 6,467 4,218 2,827
Amortization of right-of-use assets 1,103 1,062 1,761
Amortization of intangible assets 267 273 265
Amortization of debt discount and deferred financing fees 893 891 891
Loss on disposal of equipment 0 56 0
Provision for (recovery of) bad debts 650 (271) 612
Investment gains (155) (666) (228)
Change in fair value of derivatives (587) (1,531) (1,044)
Stock-based compensation 15,906 14,418 15,591
Change in operating assets and liabilities:      
Accounts receivable 392 (2,691) (4,639)
Inventory (10,163) (4,115) (1,887)
Prepaid expenses and other 784 (867) (84)
Accounts payable and accrued expenses 125 6,509 660
Operating lease obligations (1,603) (1,269) (1,841)
Cash paid for interest portion of finance leases (4) (3) (2)
Contract and other liabilities 424 (14) 0
Net cash provided by (used in) operating activities 4,535 (5,716) (16,066)
Cash flows from investing activities:      
Purchase of property and equipment (3,101) (13,872) (20,078)
Purchase of investments (5,773) (10,203) (39,247)
Proceeds from sale of investments 0 44,374 57,300
Cash payments for intangible assets (1,423) (1,046) (1,175)
Net cash provided by (used in) investing activities (10,297) 19,253 (3,200)
Cash flows from financing activities:      
Cash paid for debt portion of finance leases (10) (10) (12)
Proceeds from exercise of stock options and ESPP stock purchases 2,300 1,964 1,806
Net cash provided by financing activities 2,290 1,954 1,794
Net increase (decrease) in cash, cash equivalents, and restricted cash (3,472) 15,491 (17,472)
Cash, cash equivalents, and restricted cash, beginning of period 37,026 21,535 39,007
Cash, cash equivalents, and restricted cash, end of period 33,554 37,026 21,535
Supplemental disclosures of cash flow activity:      
Cash paid for interest, net of capitalized interest 7,301 1,944 0
Supplemental disclosure of non-cash investing and financing activities:      
Acquisition of fixed assets in accounts payable and accrued expenses 114 704 866
Obtaining a right-of-use asset in exchange for a lease liability 21 2,298 1,018
Acquisition of intangible assets in accounts payable and accrued expenses $ 299 $ 407 $ 299