Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (10,136) $ (1,378)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense (recovery) 126 (76)
Non-cash interest expense 98 203
Amortization of debt discount 17 14
Amortization of acquired intangible assets 1,069 1,017
Amortization of operating lease right-of-use assets 22 22
Share-based compensation 646 773
Changes in operating assets and liabilities:    
Accounts receivable 466 (7,995)
Inventory 881 (234)
Prepaid expenses and other current assets 832 830
Other assets   32
Accounts payable 7,088 4,732
Due to related party (43) (130)
Accrued expenses (2,013) 2,928
Accrued interest 5 66
Income tax payable   104
Lease liabilities (14) (24)
Net cash (used in) provided by operating activities (956) 884
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    
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 (27,948) (812)
Proceeds from EWB term-loan, net of discount   14,763
Offering costs for the issuance of common stock - initial public offering   (371)
Net cash provided by financing activities 52 11,366
Net change in cash and restricted cash (5,904) (7,750)
Cash and restricted cash at the beginning of the period 32,003 49,081
Cash and restricted cash at the end of the period 26,099 41,331
Supplemental disclosure of cash flow information:    
Cash paid for interest 535 95
Cash paid for income taxes $ 7  
Supplemental disclosure of non-cash financing and investing activities:    
Deferred payment for asset acquisition   $ 4,794