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 $ (17,673) $ (11,792)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,916 4,834
Stock-based compensation 2,646 2,289
Amortization of operating lease assets 224 573
Amortization of debt issuance costs 554 1,413
Change in fair value of warrant liability (746) (5,835)
Change in fair value of contingent earnout liability (76) (6,883)
Deferred income tax liabilities 6 0
Other (110) 0
Changes in operating assets and liabilities:    
Accounts receivable, net 97 2,215
Contract assets (855) (1,531)
Other current assets 117 1,409
Other long-term assets 410 469
Accounts payable (604) (828)
Accrued wages and benefits 323 (1,051)
Contract liabilities 1,259 (962)
Other accrued expenses (548) 1,077
Operating lease liabilities (230) (342)
Other long-term liabilities 0 (46)
Net cash used in operating activities (11,290) (14,991)
Cash flows from investing activities    
Purchases of short-term investments (13,908) 0
Maturities of short-term investments 11,600 0
Purchase of property and equipment (4,649) (4,243)
Investment in intangible assets 0 (19)
Net cash used in investing activities (6,957) (4,262)
Cash flows from financing activities    
Proceeds from long-term debt 19,886 95
Proceeds from exercise of stock options 0 638
Net cash provided by financing activities 19,886 733
Effect of foreign currency translation on cash, cash equivalents and restricted cash (1,846) 850
Net (decrease) increase in cash, cash equivalents and restricted cash (207) (17,670)
Cash, cash equivalents and restricted cash    
Beginning balance 47,569 109,645
Ending balance 47,362 91,975
Supplemental disclosure of cash flow information    
Cash paid for interest 3,827 1,627
Income taxes paid 451 0
Noncash Investing and financing activities    
Property and equipment purchased but not yet paid 2,299 2,250
Issuance of stock warrants with long-term debt (Note 8) $ 286 $ 0