Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.6.0.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net loss $ (23,470) $ (19,590) $ (33,769)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 1,855 933 745
Inventory allowance expense 30 34 (36)
Amortization of deferred rent (36) (37) (36)
Amortization of debt discounts 0 0 208
Finance cost attributable to issuance of warrants 0 487 0
Interest expense accrued to convertible notes 0 0 20
Interest income added to note receivable from stockholder 0 0 3
Change in fair value of contingent consideration liability (196) 0 0
Stock-based compensation expense 3,121 1,731 1,143
Change in fair value of warrant liability (4,286) (2,505) 16,485
Unrealized loss on foreign currency transactions 135 0 0
Changes in operating assets and liabilities      
Accounts receivable 154 (520) (1,000)
Inventories (541) (200) 354
Prepaid expense and other assets current and noncurrent (60) (91) (36)
Deferred cost of revenue 4,590 (1,022) (1,995)
Accounts payable (818) 1,738 (716)
Accrued liabilities 1,468 (493) 944
Deferred revenues (6,943) 1,266 2,679
Net cash used in operating activities (24,997) (18,269) (15,007)
Investing activities      
Acquisition of property and equipment, net (1,096) (1,492) (1,487)
Net cash used in investing activities (1,096) (1,492) (1,487)
Financing activities      
Principal payments on notes payable (79) (60) (2,596)
Fees paid related to 2015 issuance of convertible preferred stock (173) 0 0
Proceeds from issuance of common stock, net 14,694 0 21,961
Proceeds from issuance of convertible preferred stock and warrants, net 0 13,906 0
Proceeds from exercise of stock options 110 225 102
Proceeds from exercise of common stock warrants 1,825 53 21,412
Proceeds from issuance of long-term debt, net of financing costs 6,930 0 0
Net cash provided by financing activities 23,307 14,124 40,879
Effect of exchange rate changes on cash 80 (1) 0
Net (decrease) increase in cash (2,706) (5,638) 24,385
Cash at beginning of the period 19,552 25,190 805
Cash at end of the period 16,846 19,552 25,190
Supplemental disclosure of cash flow activities      
Cash paid for interest 16 12 138
Cash paid for income taxes 33 5 38
Supplemental disclosure of non-cash activities      
Acquisition of property and equipment with capital lease 0 166 0
Transfer of property and equipment to inventory 11 0 0
Contingent success fee liability for term loan 116 0 0
Preferred deemed dividend to common shareholders in connection with anti-dilution feature associated with issuance of Series A preferred warrants 10,345 4,655 0
Issuance of Series A preferred stock warrants 0 11,700 0
Acquisition of Equipois assets with common stock and contingent consideration liability 0 1,839 0
Conversion of bridge loan to common stock 0 0 5,082
Conversion of convertible preferred stock to common stock 3 0 27,324
Conversion of preferred stock warrants to common stock warrants 0 0 282
Reclassification of warrant liability to equity upon exercise of warrants $ 1,363 $ 0 $ 27,099