Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (23,786) $ (29,135) $ (22,397)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 1,507 933 774
Amortization of right-of-use assets 1,800 1,821 0
Amortization of intangible assets 153 123 77
Impairment loss on intangible assets 0 104 0
Amortization of deferred financing costs 232 0 81
Loss on disposal of equipment 3 0 1
Loss on extinguishment of debt 0 0 2,186
Provision for bad debt (105) 514 852
Provision for inventory writedown 2,242 1,887 1,343
Changes in investment gains and losses (47) (972) (721)
Changes in fair value of derivatives 117 0 0
Share-based compensation 8,470 10,304 7,606
Change in operating assets and liabilities:      
Accounts receivable (635) (2,136) (5,108)
Inventory (910) (3,767) (6,009)
Prepaid expenses and other (2,524) (661) (192)
Accounts payable and accrued expenses 4,958 2,920 3,711
Operating lease obligations (1,086) (1,773) 0
Cash paid for interest portion of finance leases (3) (4) 0
Contract and other liabilities (12) (30) (66)
Net cash used in operating activities (9,626) (19,872) (17,862)
Cash flows from investing activities:      
Purchase of property and equipment (21,905) (4,664) (6,282)
Purchase of investments (77,806) (121,074) (114,736)
Proceeds from sale of investments 83,440 153,571 23,146
Cash payments for intangible assets (692) (562) (321)
Net cash (used for) / provided by investing activities (16,963) 27,271 (98,193)
Cash flows from financing activities:      
Proceeds from the issuance of long-term debt 35,000 0 0
Proceeds from the paycheck protection program 7,820 0 0
Repayment of paycheck protection program (7,820) 0 0
Proceeds from issuance of common stock 3,500 0 132,964
Cash paid for equity or debt financing fees (642) 0 (257)
Borrowing on revolving loan 0 0 26,253
Payments on revolving loan and prepayment penalties 0 0 (30,489)
Repayments of long-term debt and prepayment penalties 0 0 (22,513)
Cash paid for debt portion of finance leases (14) 29 0
Proceeds from exercise of stock options 3,300 4,002 3,884
Payments of employee tax witholdings in exchange of common stock award (670) 0 0
Net cash provided by financing activities 40,474 4,031 109,842
Net increase in cash, cash equivalents, and restricted cash 13,885 11,430 (6,213)
Cash, cash equivalents, and restricted cash, beginning of period 41,724 30,294 36,507
Cash, cash equivalents and restricted cash, end of period 55,609 41,724 30,294
Supplemental disclosures of cash flow activity:      
Cash paid for interest, net of capitalized interest 822 34 1,325
Supplemental disclosure of non-cash investing and financing activities:      
Acquisition of fixed assets in accounts payable and accrued expenses 1,077 3,212 335
Acquisition of leasehold asset 5,250 0 0
Embedded derivative associated with long-term debt 2,563 0 0
Obtaining a right-of-use asset in exchange for a lease liability 14,259 26 0
Conversion of the Oberland Option $ 182 $ 0 $ 0