Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net loss $ (22,747) $ (35,888) $ (102,449)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 20,659 21,004 18,152
Loss on rental units and other assets 3,208 4,535 4,508
Loss (gain) on sale of former rental assets 57 (165) (84)
Provision for sales revenue returns and doubtful accounts 6,351 10,890 10,730
Provision for inventory losses 822 233 2,691
Loss on purchase commitments 433 448 2,057
Stock-based compensation expense 8,014 7,397 7,427
Deferred income taxes (1,100) (1,150) (251)
Change in fair value of earnout liability   3,000 6,822
Impairment charges     32,894
Changes in operating assets and liabilities:      
Accounts receivable (14,624) (5,187) 10,141
Inventories (3,210) (3,538) 7,878
Income tax receivable   120 988
Prepaid expenses and other current assets 1,298 2,411 5,583
Operating lease right-of-use asset 3,169 3,854 3,413
Other noncurrent assets 1,762 551 (1,110)
Accounts payable and accrued expenses 5,598 (3,414) (9,177)
Accrued payroll (6,750) 6,222 (508)
Warranty reserve 2,224 2,608 3,565
Deferred revenue (3,295) (3,806) (3,075)
Income tax payable 46 115 27
Operating lease liability (3,309) (4,326) (3,456)
Earnout liability (9,822)    
Net cash (used in) provided by operating activities (11,216) 5,914 (3,234)
Cash flows from investing activities      
Purchases of available-for-sale securities (29,829) (32,657) (26,869)
Maturities of available-for-sale securities 14,003 35,500 24,000
Investment in intangible assets   (2,090) (494)
Investment in property and equipment (2,523) (3,360) (5,218)
Production and purchase of rental equipment (7,860) (11,643) (21,299)
Proceeds from sale of former assets   275 198
Acquisition of business, net of cash acquired     (29,633)
Net cash used in investing activities (26,209) (13,975) (59,315)
Cash flows from financing activities      
Proceeds from stock options exercised     384
Proceeds from employee stock purchases 971 811 1,094
Payment of employment taxes related to release of restricted stock (821) (546) (518)
Payments of accrued earnout (3,178)    
Proceeds from issuance of common stock from securities purchase agreement 27,210    
Net cash provided by financing activities 24,182 265 960
Effect of exchange rates on cash 846 (281) 67
Net decrease in cash, cash equivalents and restricted cash (12,397) (8,077) (61,522)
Cash, cash equivalents and restricted cash, beginning of period 117,415 125,492 187,014
Cash, cash equivalents and restricted cash, end of period 105,018 117,415 125,492
Supplemental disclosures of cash flow information      
Cash paid (received) during the period for income taxes, net of refunds received 320 375 (703)
Supplemental disclosure of non-cash transactions      
Accrued value of earnout related to acquisition     3,178
Property and equipment in accounts payable and accrued expenses $ 409 $ 197 $ 204