Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net Loss $ (24,010) $ (11,935) $ (10,878)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 1,950 1,570 1,147
Amortization expense - right-of-use assets - operating and finance leases 2,604 2,987 0
Stock-based compensation 7,728 6,943 7,889
Equity securities earned from research and development activities (900) 0 0
Other non-cash items 55 525 91
Changes in operating assets and liabilities:      
Financial assets, net (8,723) (5,867) (1,424)
Inventories (593) 217 447
Prepaid expenses and other current assets (1,012) (1,324) 191
Accounts payable 101 (428) (524)
Accrued compensation and other accrued liabilities 6,175 2,205 502
Other long-term liabilities (2,586) (1,210) (904)
Deferred revenue 2,747 (6,243) (10,631)
Net cash used in operating activities (16,464) (12,560) (14,094)
Investing activities:      
Purchase of property and equipment (3,748) (3,730) (2,768)
Proceeds from disposal of property and equipment 0 3 2
Proceeds from sale of investment securities 0 62 0
Investment in non-marketable securities (2,000) 0 0
Net cash used in investing activities (5,748) (3,665) (2,766)
Financing activities:      
Proceeds from exercises of stock options 1,323 7,099 4,680
Costs incurred in connection with offering (5,448) (123) (180)
Proceeds from issuance of common stock in connection with private offering 86,250 50,000 37,497
Payments of lease obligations - Finance leases (60) (242) (238)
Recovery of short swing profit 0 77 0
Taxes paid related to net share settlement of equity awards (1,257) (2,850) (3,190)
Net cash provided by financing activities 80,808 53,961 38,569
Net increase in cash, cash equivalents and restricted cash 58,596 37,736 21,709
Cash, cash equivalents and restricted cash at the beginning of the year 92,221 54,485 32,776
Cash, cash equivalents and restricted cash at the end of the year 150,817 92,221 54,485
Supplemental disclosure of cash flow information:      
Interest paid 52 49 84
Income taxes 312 5 5
Supplemental non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid 1,750 140 300
Assets received for research & development revenue earned 900    
Total cash, cash equivalents and restricted cash at the end of the period $ 92,221 $ 54,485 $ 54,485