Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (18,499) $ (8,906)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense (recovery) 574 (45)
Non-cash interest expense 176 418
Amortization of debt discount 296 30
Amortization of acquired intangible assets 2,138 2,034
Amortization of operating lease right-of-use assets 43 44
Share-based compensation 1,519 1,547
Loss on impairment of intangible assets 3,143  
Changes in operating assets and liabilities:    
Accounts receivable 10,897 (5,514)
Inventory 1,993 (150)
Prepaid expenses and other current assets 1,513 1,403
Other assets   40
Accounts payable (4,797) 10,523
Due to related party 190 (284)
Accrued expenses 3,941 (3,588)
Accrued interest (77) 77
Income tax payable   4
Lease liabilities (37) (49)
Net cash provided by (used in) operating activities 3,013 (2,416)
Cash flows from investing activities    
Acquired intangible assets (5,000) (20,000)
Net cash used in investing activities (5,000) (20,000)
Cash flows from financing activities    
Proceeds from exercise of stock options 3 111
Payment of license installment note payable   (2,000)
Payment of debt issuance costs associated with convertible preferred shares   (214)
Proceeds from line of credit 28,000  
Repayments of line of credit (30,948) (812)
Proceeds from EWB term-loan, net of discount   14,763
Repayment of EWB term-loan (10,000)  
Payment of issuance costs associated with EWB term-loan modification (91)  
Offering costs for the issuance of common stock - initial public offering   (371)
Net cash (used in) provided by financing activities (13,036) 11,477
Net change in cash and restricted cash (15,023) (10,939)
Cash and restricted cash at the beginning of the period 32,003 49,081
Cash and restricted cash at the end of the period 16,980 38,142
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,011 377
Cash paid for income taxes $ 85  
Supplemental disclosure of non-cash financing and investing activities:    
Deferred payment for asset acquisition   $ 4,740