Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 550 $ 12,494
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized loss on marketable debt securities 107 179
Depreciation and amortization 1,292 1,249
Accretion of debt discount 20 1
Amortization on operating lease right-of-use assets 85 83
Gain on sale of assets 0 (23)
Stock-based compensation expense 947 482
Change in fair value of investment securities 0 76
Accounts receivable allowances (147) (924)
Inventory valuation reserve 0 25
Bad debt expenses 230 0
Changes in operating assets and liabilities:    
Accounts receivable (864) 1,938
Inventory (335) (105)
Prepaid expenses and other current assets (2,107) (126)
Deferred tax asset (96) 0
Other assets 0 360
Accounts payable and accrued expenses (2,661) 1,178
Accrued diagnostic services (656) (878)
Accrued advertising and other allowances 52 0
Deferred revenue 443 165
Deferred tax liability 0 443
Operating lease liabilities (80) (73)
Income tax payable (341) 2,973
Other current liabilities 4,037 770
Net cash provided by operating activities 476 20,287
Cash flows from investing activities    
Business acquisitions, escrow received 478 0
Asset acquisition, net of cash acquired (2,904) 0
Purchase of marketable securities 0 (206)
Proceeds from sale of marketable debt securities 1,291 5,300
Proceeds from dispositions of property and other assets, net 0 85
Capital expenditures (517) (1,095)
Net cash (used in) provided by investing activities (1,652) 4,084
Cash flows from financing activities    
Proceeds from issuance of secured note payable 7,600 0
Repurchase of common stock for payment of statutory taxes due on cashless exercise of stock option 5,379 0
Repurchases of common shares (541) (1,150)
Repayment of note payable 0 (1,426)
Payment of dividends 0 (4,646)
Net cash provided by (used in) financing activities 1,680 (7,222)
Increase in cash, cash equivalents and restricted cash 504 17,149
Cash and cash equivalents, at the beginning of the period 9,109 8,658
Cash and cash equivalents, at the end of the period 9,613 25,807
Supplemental disclosures:    
Cash paid for income taxes 1,500 0
Interest payment on the promissory notes 203 241
Supplemental disclosure of non-cash investing and financing activities:    
Financed capital expenditures 1,623 0
Common stock issued in Asset Acquisition 1,000 0
Issuance of common shares for debt conversion 0 600
Net unrealized loss, investments in marketable debt securities $ 0 $ 37