Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.23.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (15,080) $ (9,764)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 887 1,023
Changes in allowance for doubtful accounts 33 75
Gain on forgiveness of note payable 0 (1,099)
Common stock contribution to 401(k) plan 186 171
Stock-based compensation expense 2,546 2,329
Gain on revaluation of warrant liabilities (1,317) (3,962)
Other adjustments (18) 134
Unrealized loss on foreign currency transactions 655 867
Changes in operating assets and liabilities:    
Accounts receivable (67) (1,624)
Inventories (1,400) (752)
Prepaid expenses and other assets current and noncurrent (303) 19
Accounts payable (102) 1,612
Accrued, lease and other current and noncurrent liabilities (197) 379
Deferred revenues (511) (564)
Net cash used in operating activities (14,688) (11,156)
Investing activities    
Payment in connection with acquisition (5,000) 0
Acquisition of property and equipment (194) (59)
Proceeds from sales of equipment 19 0
Net cash used in investing activities (5,175) (59)
Financing activities    
Proceeds from issuance of common stock and warrants, net 0 37,295
Proceeds from exercise of common stock warrants 0 1,417
Net cash provided by financing activities 0 38,712
Effect of exchange rate changes on cash (18) 47
Net (decrease) increase in cash (19,881) 27,544
Cash and restricted cash at beginning of the year 40,406 12,862
Cash and restricted cash at end of the year 20,525 40,406
Supplemental disclosure of cash flow activities    
Cash paid for interest 126 104
Cash paid for income taxes 13 1
Supplemental disclosure of non-cash activities    
Reclassification of warrant liability to equity upon exercise of warrants 0 2,461
Share issuance for common stock contribution to 401(k) plan 176 152
Transfer of inventory to property and equipment 385 434
Issuance of promissory note, net in connection with acquisition 4,055 0
Fair value of warrants issued upon equity financing 0 1,936
Initial recognition of operating lease liabilities and right of use assets $ 1,459 $ 0