Cash Flow

v3.20.4
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (36,045) $ (56,957)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,365 1,750
Provision for doubtful accounts 180 283
Stock-based compensation 4,082 23,543
Loss on disposal of property and equipment 99 123
Changes in operating assets and liabilities:    
Accounts receivable 368 251
Inventories 352 (2,185)
Prepaid expenses and other assets 642 (338)
Accounts payable (961) 407
Accrued expenses 1,706 (184)
Deferred revenue (774) 417
Other liabilities (318) (283)
Net cash used in operating activities (28,304) (33,173)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale securities   (36,461)
Proceeds from maturities of available-for-sale securities 16,000 20,697
Purchases of property and equipment (67) (268)
Net cash provided by (used in) investing activities 15,933 (16,032)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock and warrants, net of placement agent fees of $2,113 19,887  
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 42 37
Proceeds from promissory note 2,000  
Payments of offering costs related to the issuance of common stock and warrants (770)  
Payments on equipment financing (293) (338)
Payments for restricted stock tax liability on settlement   (225)
Net cash provided by (used in) financing activities 21,693 (526)
NET CHANGE IN CASH AND CASH EQUIVALENTS 9,322 (49,731)
CASH AND CASH EQUIVALENTS, beginning of year 14,584 64,315
CASH AND CASH EQUIVALENTS, end of year 23,906 14,584
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Transfer from inventories to property and equipment for lasers 207 1,505
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash payments for interest $ 28 49
Cash payments for taxes   $ 30

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