Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.8.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net loss $ (29,122) $ (23,470) $ (19,590)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 1,732 1,855 933
Inventory allowance expense 73 30 34
Provision for doubtful accounts 105 14 57
Amortization of deferred rent 16 (36) (37)
Accretion of final payment fee of debt 96 0 0
Amortization of debt discounts 83 0 0
Finance cost attributable to issuance of warrants 0 0 487
Gain on change in fair value of contingent liabilities (213) (196) 0
Common stock contribution to 401(k) plan 509 0 0
Stock-based compensation expense 2,414 3,121 1,731
Change in fair value of warrant liability (3,909) (4,286) (2,505)
Loss on repurchase of warrants 1,067 0 0
Unrealized (gain) loss on foreign currency transactions (500) 135 0
Changes in operating assets and liabilities      
Accounts receivable (1,085) 140 (577)
Inventories (2,096) (541) (200)
Prepaid expense and other assets current and noncurrent (862) (60) (91)
Deferred cost of revenue 0 4,590 (1,022)
Accounts payable 77 (818) 1,738
Accrued liabilities 105 1,468 (493)
Deferred revenues 284 (6,943) 1,266
Net cash used in operating activities (31,226) (24,997) (18,269)
Investing activities      
Acquisition of property and equipment, net (456) (1,096) (1,492)
Net cash used in investing activities (456) (1,096) (1,492)
Financing activities      
Principal payments on notes payable (54) (79) (60)
Fees paid related to 2015 issuance of convertible preferred stock 0 (173) 0
Proceeds from issuance of common stock, net 42,463 14,694 0
Proceeds from issuance of convertible preferred stock and warrants, net 0 0 13,906
Proceeds from exercise of stock options 46 110 225
Proceeds from exercise of common stock warrants 113 1,825 53
Proceeds from issuance of long-term debt, net of financing costs 0 6,930 0
Net cash provided by financing activities 42,568 23,307 14,124
Effect of exchange rate changes on cash 81 80 (1)
Net (decrease) increase in cash 10,967 (2,706) (5,638)
Cash at beginning of the period 16,846 19,552 25,190
Cash at end of the period 27,813 16,846 19,552
Supplemental disclosure of cash flow activities      
Cash paid for interest 429 16 12
Cash paid for income taxes 20 33 5
Supplemental disclosure of non-cash activities      
April 2017 warrant issuance 3,301 0 0
Repurchase of April 2017 warrants and share issuance 2,245 0 0
Transfer of equipment to inventory 554 11 0
Cumulative retrospective adjustment to retained earnings for ASU 2016-09 adoption 171 0 0
Equipois supply earn-out 189 0 0
Equipois sales earn-out 47 0 0
Reclassification of warrant liability to equity upon exercise of warrants 62 1,363 0
Issuance of Series A preferred stock warrants 0 0 11,700
Preferred deemed dividend to common shareholders in connection with anti-dilution feature associated with issuance of Series A preferred warrants 0 10,345 4,655
Conversion of convertible preferred stock to common stock 0 3 0
Contingent success fee liability for term loan 0 116 0
Acquisition of Equipois assets with common stock and contingent consideration liability 0 0 1,839
Acquisition of property and equipment with capital lease $ 0 $ 0 $ 166