Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.3.1.900
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net loss attributable to common stockholders $ (19,590) $ (33,769) $ (11,887)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 933 745 469
Inventory allowance expense 34 (36) (8)
Amortization of deferred rent (37) (36) (36)
Amortization of debt discounts 0 208 169
Finance cost attributable to issuance of warrants 487 0 0
Amortization of notes payable offering costs 0 0 21
Interest expense accrued to convertible notes 0 20 231
Interest income added to note receivable from stockholder 0 3 0
Adjustment to record convertible note at fair value 0 0 799
Stock-based compensation expense 1,731 1,143 391
(Gain) loss on change in fair value of warrant liability (2,505) 16,485 (186)
Changes in operating assets and liabilities      
Accounts receivable (520) (1,000) 239
Inventories (200) 354 (102)
Prepaid expense and other assets current and noncurrent (91) (36) (87)
Deferred cost of revenue (1,022) (1,995) (442)
Accounts payable 1,738 (716) (231)
Accrued liabilities (493) 944 433
Deferred revenues 1,266 2,679 1,164
Net cash used in operating activities (18,269) (15,007) (9,063)
Investing activities      
Acquisition of property and equipment, net (1,492) (1,487) (379)
Net cash used in investing activities (1,492) (1,487) (379)
Financing activities      
Proceeds from issuance of 2012 Series B convertible bridge notes, net 0 0 2,000
Proceeds from issuance of 2013 Series B convertible bridge notes, net 0 0 4,929
Principal payments on notes payable (60) (2,596) (1,829)
Payment for private placement offering 0 0 (948)
Proceeds from issuance of convertible preferred stock and warrants, net 13,906 0 4,152
Proceeds from exercise of stock options 225 102 205
Proceeds from exercise of common stock warrants 52 21,412 0
Proceeds from issuance of common stock, net 0 21,961 0
Net cash provided by financing activities 14,123 40,879 8,509
Net (decrease) increase in cash (5,638) 24,385 (933)
Cash at beginning of the period 25,190 805 1,738
Cash at end of the period 19,552 25,190 805
Supplemental disclosure of cash flow activities      
Cash paid for interest 12 138 633
Cash paid for income taxes 5 38 25
Supplemental disclosure of non-cash activities      
Acquisition of property and equipment with capital lease 166 0 0
Preferred deemed dividend to common shareholders in connection with anti-dilution feature associated with issuance of Series A preferred warrants 4,655 0 0
Issuance of Series A preferred stock warrants 11,700 0 0
Acquisition of Equipois assets with common stock and contingent consideration liability 1,839 0 0
Preferred stock and common stock warrants issued to lender 0 0 5
Conversion of convertible notes into Series B convertible preferred stock 0 0 6,490
Common stock warrants issued in connection with Series B convertible preferred stock offering 0 0 169
Conversion of bridge loan to common stock 0 5,082 0
Conversion of convertible preferred stock to common stock 0 27,324 0
Conversion of preferred stock warrants to common stock warrants 0 282 0
Transfer of warrant liability to equity 0 27,099 0
Vesting of early exercised stock options $ 0 $ 0 $ 5