Cash Flow

v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss     $ (17,822) $ (29,796)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation $ 500 $ 400 1,041 669  
Operating lease right-of-use-assets amortization 100 100 173 162  
Provision for doubtful accounts     25 266  
Stock-based compensation     2,080 14,877  
Changes in operating assets and liabilities:          
Accounts receivable     287 (400)  
Inventories     33 (1,542)  
Prepaid expenses and other assets     650 313  
Accounts payable     107 390  
Accrued expenses     1,295 (735)  
Deferred revenue     (556) 187  
Other liabilities     (156) (138)  
Net cash used in operating activities     (12,843) (15,747) $ (33,200)
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of available-for-sale securities       (36,461)  
Proceeds from maturities of available-for-sale securities     16,000    
Purchases of property and equipment     (49) (196)  
Net cash provided by (used in) investing activities     15,951 (36,657)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock and warrants, net of placement agent fees of $1,008     8,992    
Proceeds from issuance of common stock in connection with the exercise of warrants     827    
Proceeds from issuance of common stock in connection with the employee stock purchase plan     27 37  
Proceeds from PPP promissory note     2,000    
Payments on equipment financing     (145) (161)  
Payments of offering costs related to the issuance of common stock and warrants     (13)    
Net cash provided by (used in) financing activities     11,688 (124)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     14,796 (52,528)  
CASH AND CASH EQUIVALENTS, beginning of period     14,584 64,315 64,315
CASH AND CASH EQUIVALENTS, end of period 29,380 $ 11,787 29,380 11,787 $ 14,584
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:          
Unpaid offering costs $ 231   231    
Transfer from inventories to property and equipment for lasers     40 1,295  
Unpaid property and equipment included in equipment financing       175  
SUPPLEMENTAL CASH FLOW INFORMATION:          
Cash payments for interest     $ 16 26  
Cash payments for taxes       $ 8  

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