Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.23.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (1,710) $ (18,986)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 492 10
Non-cash interest expense 353 619
Amortization of debt discount 354 47
Amortization of acquired intangible assets 2,952 3,050
Amortization of operating lease right-of-use assets 65 67
Share-based compensation 2,077 2,985
Loss on impairment of intangible assets 3,143  
Changes in operating assets and liabilities:    
Accounts receivable 19,727 (5,431)
Inventory 3,135 673
Prepaid expenses and other current assets 2,385 1,496
Other assets   47
Accounts payable (8,406) 11,399
Due to related party 680 (567)
Accrued expenses (3,362) (5,173)
Accrued interest (160) 125
Income tax payable 95 14
Lease liabilities (60) (73)
Net cash provided by (used in) operating activities 21,760 (9,698)
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 25 142
Payment of license installment note payable (1,000) (3,000)
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   19,763
Repayment of EWB term-loan (20,000)  
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 (24,014) 15,508
Net change in cash (7,254) (14,190)
Cash at the beginning of the period 32,003 49,081
Cash at the end of the period 24,749 34,891
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,127 736
Cash paid for income taxes $ 85 19
Supplemental disclosure of non-cash financing and investing activities:    
Deferred payment for asset acquisition   $ 4,740