v3.23.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (54,496) $ (50,755)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,772 2,275
Foreign exchange loss (gain) on long-term debt 6 (16)
Bad debt expense 172 7
Change in fair value of warrants and derivatives, net (1,230) (3,936)
Loss on extinguishment of debt 8,281
Non-cash debt amendment fee 463
Inventory impairment charge 7,215
Share-based compensation 3,937 13,536
Total adjustments 20,153 12,329
Changes in operating assets and liabilities:    
Decrease in accounts receivable 12,539 9,706
Increase in inventory (1,496) (302)
Decrease in prepaid expenses and other current assets 975 2,221
Decrease in other non-current assets 238 181
Increase (decrease) in accounts payable 1,611 (3,040)
(Decrease) increase in deferred revenue (1,118) 1,686
Decrease in accrued expenses and other current liabilities (623) (65)
Increase in other long-term liabilities 4,220 151
Increase in accrued interest on long-term debt 5,825 5,394
Net cash used in operating activities (12,172) (22,494)
Cash flows from investing activities:    
Purchase of property, plant and equipment (1,122) (1,632)
Net cash used in investing activities (1,122) (1,632)
Cash flows from financing activities:    
Borrowings from senior term loan 19,981
Repayment of senior term loan (1,760) (2,640)
Payment of debt issuance costs (1,916)
Payment of taxes withheld on stock awards (161)
Net cash provided by (used in) financing activities 16,144 (2,640)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,850 (26,766)
Cash, cash equivalents and restricted cash, beginning of year 7,287 63,122
Cash, cash equivalents and restricted cash, end of period 10,137 36,356
Supplemental disclosures of cash flow information    
Cash paid for interest 3,873 2,852
Cash (refunded) paid for income taxes 18 (146)
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 10,102 36,305
Restricted cash 35 51
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statement of cash flows $ 10,137 $ 36,356

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