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
Cash flows from operating activities    
Net loss $ (14,672) $ (3,853)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 516 435
Gain on extinguishment of debt (1,125)  
Non-cash interest expense   353
Amortization of debt discount 307 356
Amortization of acquired intangible assets 3,424 3,767
Non-cash lease expense 91 88
Share-based compensation 6,098 2,606
Loss on impairment of intangible assets   3,143
Changes in operating assets and liabilities:    
Accounts receivable 4,475 12,551
Inventory (4,225) 3,953
Prepaid expenses and other current assets 376 (279)
Other assets 6  
Accounts payable (2,099) (18,421)
Related party expenses 333 (218)
Accrued expenses (2,925) 962
Accrued interest 382 (138)
Income tax payable 7 18
Lease liabilities (96) (83)
Net cash (used in) provided by operating activities (9,127) 5,240
Cash flows from investing activities    
Acquired intangible assets (15,000) (5,000)
Net cash (used in) investing activities (15,000) (5,000)
Cash flows from financing activities    
Proceeds from the exercise of stock options 207 121
Proceeds from issuance of common stock, ATM offering, net of issuance costs 7,877 4,494
Issuance of common stock under ESPP 209  
Proceeds from term-loan 10,000 15,000
Payment of debt issuance costs (50) (471)
Payment of license installment note payable (1,250) (1,000)
Proceeds from line of credit   28,000
Repayment of line of credit   (30,948)
Repayment of EWB term-loan   (20,000)
Net cash provided by (used in) financing activities 16,993 (4,804)
Net change in cash (7,134) (4,564)
Cash at the beginning of the period 27,439 32,003
Cash at the end of the period 20,305 27,439
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,011 1,127
Cash paid for income taxes 125 181
Supplemental disclosure of non-cash financing and investing activities:    
ROU assets obtained in exchange for lease liabilities $ 188 $ 188