Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net loss $ (11,300) $ (10,417)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,118 812
Amortization expense - right-of-use assets - operating and finance leases 2,231 0
Gain on disposal of property and equipment (2) 0
Stock-based compensation 5,783 6,207
Loss on investment in equity securities 526 20
Changes in operating assets and liabilities:    
Accounts receivable, net (776) 3,556
Unbilled receivables 385 0
Inventories 192 206
Prepaid expenses and other current assets (485) (1,188)
Contract assets (1,158) (1,868)
Other non-current assets 74 188
Accounts payable (1,294) (1,686)
Accrued compensation (577) 409
Other accrued liabilities 2,687 1,332
Other long-term liabilities (1,291) (710)
Deferred revenue (5,012) (10,235)
Net cash used in operating activities (8,899) (13,374)
Investing activities:    
Purchase of property and equipment (3,315) (2,074)
Proceeds from disposal of property and equipment 2 1
Proceeds from the sale of investment securities 62 0
Net cash used in investing activities (3,251) (2,073)
Financing activities:    
Proceeds from exercises of stock options 4,621 4,319
Proceeds from issuance of common stock in connection with public offering, net of underwriting discounts and commission 0 37,497
Costs incurred in connection with public offering 0 (180)
Proceeds from issuance of common stock in connection with private placement 50,000 0
Costs incurred in connection with private placement (129) 0
Payments of lease obligations - Finance leases (180) (178)
Recovery of short swing profit 77 0
Taxes paid related to net share settlement of equity awards (2,850) (3,140)
Net cash provided by financing activities 51,539 38,318
Net increase in cash, cash equivalents and restricted cash 39,389 22,871
Cash, cash equivalents and restricted cash at the beginning of the period 54,485 32,776
Cash, cash equivalents and restricted cash at the end of the period 93,874 55,647
Supplemental disclosure of cash flow information    
Interest paid 16 61
Income taxes paid 5 5
Purchase of property and equipment recorded in accounts payable and accrued expenses 536 420
Cash and cash equivalents 92,143 54,225
Total cash, cash equivalents and restricted cash at the end of the period $ 54,485 $ 32,776