Quarterly report [Sections 13 or 15(d)]

Unaudited Condensed Consolidated Statements of Cash Flows

v3.25.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net loss $ (24,691) $ (39,023)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 126 377
Bad debt expense 195 6
Amortization of debt discount 295 609
Accretion of partner company convertible preferred shares 0 45
Gain on termination of partner company lease (394) 0
Amortization of acquired intangible assets 1,065 814
Reduction in the carrying amount of operating lease right-of-use assets 485 528
Stock-based compensation expense 6,289 4,857
Loss on partner company warrant issuance 0 574
Common shares issued for dividend on partner company's convertible preferred shares 0 68
Change in fair value of partner companies' warrant liabilities 47 93
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (7,989) 5,417
Inventory 1,935 (374)
Other receivables - related party (138) (157)
Prepaid expenses and other current assets 2,376 (1,571)
Other assets 265 313
Accounts payable and accrued expenses 550 2,668
Income taxes payable 20 0
Lease liabilities (589) (585)
Other long-term liabilities 590 (46)
Net cash used in operating activities (19,563) (25,387)
Cash Flows from Investing Activities:    
Proceeds from sale of property and equipment 1,165 0
Net cash provided by investing activities 1,165 0
Cash Flows from Financing Activities:    
Payment of Series A perpetual preferred stock dividends 0 (2,008)
Proceeds from issuance of common stock for at-the-market offering, net 0 10,119
Net proceeds from private placement 1,009 894
Exercise of warrants for cash 17 30
Proceeds from partner companies' ESPP 99 133
Partner company's dividends declared and paid (166) (176)
Partner company's redemption of preferred shares (150) 0
Proceeds from partner companies' equity offerings, options and warrant exercises, net 45,218 17,383
Proceeds from partner companies' at-the-market offering, net 6,740 1,484
Repayment of partner company installment payments - licenses (625) 0
Net cash provided by financing activities 52,142 27,859
Net increase in cash and cash equivalents and restricted cash 33,744 2,472
Cash and cash equivalents and restricted cash at beginning of period 58,815 83,365
Cash and cash equivalents and restricted cash at end of period 92,559 85,837
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,324 1,658
Supplemental disclosure of non-cash financing and investing activities:    
Unpaid partner company's offering cost $ 235 $ 150