Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net (loss) income $ (8,031) $ 20,907
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Realized (gain) loss on marketable debt securities (3) 192
Depreciation and amortization 4,435 3,792
Accretion of debt discount 97 4
Amortization on operating lease right-of-use assets 325 254
Loss on sale of assets 0 14
Stock-based compensation expense 2,860 2,979
Change in fair value of investment securities 0 76
Accounts receivable allowances 718 2,528
Inventory valuation reserve 0 (179)
Bad debt expenses, direct write-off 74 0
Changes in operating assets and liabilities:    
Accounts receivable (2,380) (2,652)
Inventory (1,078) (133)
Prepaid expenses and other current assets (938) 643
Deferred tax asset (4,350) (1,339)
Other assets 0 (674)
Accounts payable and accrued expenses (438) (5,483)
Accrued diagnostic services (768) (1,616)
Accrued advertising and other allowances 14 (25)
Deferred revenue (315) 946
Deferred tax liability (307) 0
Lease liabilities (139) (223)
Income tax payable (881) 7,029
Other current liabilities (30) 700
Net cash (used in) provided by operating activities (11,135) 27,740
Cash flows from investing activities    
Business acquisitions, escrow received 478 0
Business acquisitions, net of cash acquired (2,904) 0
Purchase of marketable securities (3,819) (1,003)
Proceeds from maturities of marketable securities 4,168 0
Proceeds from sales of marketable securities 3,817 5,800
Proceeds from dispositions of property and other assets, net 0 452
Capital expenditures (1,845) (2,323)
Net cash (used in) provided by investing activities (105) 2,926
Cash flows from financing activities    
Proceeds from issuance of secured note payable 7,600 0
Proceeds from exercise of warrants 1,200 0
Repurchase of common stock for payment of statutory taxes due on cashless exercise of stock option (5,379) (4,530)
Repurchases of common shares (588) (1,200)
Repayment of note payable 0 (1,444)
Payment of dividends 0 (9,351)
Net cash provided by (used in) financing activities 2,833 (16,525)
(Decrease) increase in cash and cash equivalents (8,407) 14,141
Cash and cash equivalents, at the beginning of the period 9,109 8,658
Cash and cash equivalents, at the end of the period 702 22,799
Supplemental disclosures:    
Cash paid for income taxes 3,000 1,500
Interest payment on the promissory notes 740 631
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation included in prepaid expenses 1,138 0
Issuance of common shares for debt conversion 2,400 600
Net unrealized loss (gain), investments in marketable debt securities 2,083 (113)
Assets obtained in exchange for new finance lease obligations 6,201 0
Issuance of warrants with unsecured promissory note 398 0
Common stock issued in asset acquisition $ 1,000 $ 0