v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 27 $ (15,190)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization expense 562 520
Provision for bad debts and product returns 913 1,978
Investor fee 916 0
Change in fair value of warrant liability (9,743) 0
Provision for inventory write-downs 3,044 2,754
Stock-based compensation 1,374 936
Asset impairment and abandonments 939 2,176
Gain on acquisition contingency (8,503) (51)
Other (3) 58
Change in assets and liabilities:    
Accounts receivable (2,235) (4,280)
Inventories (2,122) (5,636)
Accounts payable 1,771 (238)
Accrued expenses (17,492) 9,659
Right-of-use asset and lease liability (2) 0
Other operating assets and liabilities 11,416 (7,212)
Net cash used in operating activities (19,138) (14,526)
Cash flows from investing activities:    
Purchases of property and equipment (1,261) (2,321)
Patent and acquired intangible asset costs (81) (161)
Net cash used in provided by investing activities (1,342) (2,482)
Cash flows from financing activities:    
Share offering proceeds including prefunded warrant exercised, net 17,729 36,484
Proceeds from exercise of common stock options 0 23
Payment of Holo Milestones - contingent consideration (4,081) 0
Payments for treasury stock (5) (110)
Net cash provided by financing activities 13,643 36,397
Effect of exchange rate changes on cash and cash equivalents 227 412
Net (decrease) increase in cash and cash equivalents (6,610) 19,801
Cash and cash equivalents, beginning of period 51,287 43,962
Cash and cash equivalents, end of period 44,677 63,763
Supplemental cash flow disclosure:    
Net income tax payments, net of refunds 22 7
Non-cash acquisition of property and equipment 105 397
Non-cash common stock issuance - Holo Milestones contingent considerations $ 5,919 $ 0

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