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 $ (44,608) $ (74,069)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,507 3,448
Foreign exchange gain on long-term debt (2) (33)
Bad debt expense 360 170
Change in fair value of warrants and derivatives, net (3,143) (3,016)
Loss on extinguishment of debt 8,281
Non-cash debt amendment fee 463
Inventory impairment charge 7,215
Gain on sale of Mimosa business (28,631)
Share-based compensation 6,044 19,399
Total adjustments (7,369) 20,431
Changes in operating assets and liabilities:    
Decrease in accounts receivable 18,755 15,615
(Increase) decrease in inventory (968) 1,596
(Increase) decrease in prepaid expenses and other current assets (1,292) 1,571
Decrease in other non-current assets 335 555
Decrease in accounts payable (2,188) (3,895)
(Decrease) increase in deferred revenue (250) 651
(Decrease) increase in accrued expenses and other current liabilities (2,453) 7,498
Increase (decrease) in other long-term liabilities 1,499 (7,738)
Increase in accrued interest on long-term debt 9,165 8,160
Net cash used in operating activities (29,374) (29,625)
Cash flows from investing activities:    
Purchase of property, plant and equipment (1,125) (2,156)
Proceeds from sale of Mimosa business 55,188
Net cash provided by (used in) investing activities 54,063 (2,156)
Cash flows from financing activities:    
Borrowings from senior term loan 20,000
Repayment of senior term loan (24,930) (3,960)
Repayment of convertible note (16,783)
Payment of debt issuance costs (1,916)
Payment of taxes withheld on stock awards (161) (73)
Net cash used in financing activities (23,790) (4,033)
Net increase (decrease) in cash, cash equivalents and restricted cash 899 (35,814)
Cash, cash equivalents and restricted cash, beginning of year 7,287 63,122
Cash, cash equivalents and restricted cash, end of period 8,186 27,308
Supplemental disclosures of cash flow information    
Cash paid for interest 6,186 4,417
Cash (refunded) paid for income taxes (821) 318
Supplemental disclosure of non-cash financing activities:    
Non-cash debt amendment fee 4,658 463
Warrants issued for convertible debt 1,744
Cash and cash equivalents 8,173 27,265
Restricted cash 13 43
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statement of cash flows $ 8,186 $ 27,308

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