Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (14,578) $ (20,349)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,265 4,086
Loss on rental units and other assets 1,162 1,099
Gain on sale of former rental assets (38) (21)
Provision for sales revenue returns and doubtful accounts 2,164 2,258
Provision for inventory losses (53) 603
Stock-based compensation expense 2,416 3,442
Deferred income taxes (201)  
Change in fair value of earnout liability 570  
Changes in operating assets and liabilities:    
Accounts receivable (267) 6,726
Inventories (2,973) (6,362)
Income tax receivable (312) (233)
Prepaid expenses and other current assets 248 5,173
Operating lease right-of-use asset (249) 550
Other noncurrent assets 4 47
Accounts payable and accrued expenses 1,488 (1,845)
Accrued payroll (449) (436)
Warranty reserve 2,052 180
Deferred revenue (1,172) (684)
Income tax payable (27)  
Operating lease liability 201 (535)
Net cash used in operating activities (4,749) (6,301)
Cash flows from investing activities    
Purchases of available-for-sale securities (12,384) (10,359)
Maturities of available-for-sale securities 3,000  
Investment in property and equipment (1,310) (1,076)
Production and purchase of rental equipment (2,820) (5,733)
Proceeds from sale of former assets 70 58
Net cash used in investing activities (13,444) (17,110)
Cash flows from financing activities    
Proceeds from stock options exercised   384
Proceeds from employee stock purchases 370 630
Payment of employment taxes related to release of restricted stock (85) (455)
Net cash provided by financing activities 285 559
Effect of exchange rates on cash (140) (25)
Net decrease in cash and cash equivalents (18,048) (22,877)
Cash and cash equivalents, beginning of period 125,492 187,014
Cash and cash equivalents, end of period 107,444 164,137
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 422 418
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 100 $ 65