v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (19,215) $ (14,558)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,418 1,405
Amortization of right-of-use assets 859 960
Amortization of intangible assets 132 96
Amortization of debt discount and deferred financing fees 442 227
Provision for bad debt 550 (65)
Provision for inventory write-down 928 2,455
Change in fair value of derivatives (686) 105
Investment losses 145 31
Stock-based compensation 7,588 6,499
Change in operating assets and liabilities:    
Accounts receivable (2,719) (498)
Inventory (3,458) (3,341)
Prepaid expenses and other (1,081) 199
Accounts payable and accrued expenses (786) (5,061)
Operating lease obligations (856) 35
Cash paid for interest portion of finance leases 0 (1)
Contract and other liabilities 0 (3)
Net cash used in operating activities (16,739) (11,515)
Cash flows from investing activities:    
Purchase of property and equipment (9,086) (10,924)
Purchase of investments (6,024) (23,966)
Proceeds from sale of investments 11,000 32,295
Cash payments for intangible assets (852) (692)
Net cash used in investing activities (4,962) (3,287)
Cash flows from financing activities:    
Proceeds from the issuance of long-term debt 0 15,000
Cash paid for debt portion of finance leases (1) (8)
Proceeds from exercise of stock options and ESPP stock purchases 767 3,612
Net cash provided by financing activities 766 18,604
Net decrease in cash, cash equivalents, and restricted cash (20,935) 3,802
Cash, cash equivalents, and restricted cash, beginning of period 39,007 55,609
Cash, cash equivalents, and restricted cash, end of period 18,073 59,411
Supplemental disclosures of cash flow activity:    
Cash paid for interest, net of capitalized interest 0 739
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of fixed assets in accounts payable and accrued expenses 1,817 3,035
Obtaining a right-of-use asset in exchange for a lease liability 700 371
Embedded derivative associated with the long-term debt 0 1,173
Acquisition of intangible assets in accounts payable and accrued expenses $ 186 $ 190

Source