Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net (loss) income $ (16,782) $ 18,463
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Realized loss on marketable debt securities (22) 354
Depreciation and amortization 6,277 4,718
Amortization of debt discount 132 4
Amortization on right-of-use assets 421 343
Gain on sales of assets (23) (127)
Stock-based compensation expense 3,536 3,986
Change in fair value of investment securities 0 (174)
Accounts receivable allowances 718 (761)
Inventory valuation reserve 0 (78)
Credit loss expense, direct write-offs 91 6,163
Changes in operating assets and liabilities:    
Accounts receivable (68) (4,498)
Inventory 135 702
Prepaid expenses and other current assets (376) (617)
Deferred tax asset (7,313) 0
Other assets 0 (555)
Accounts payable and accrued expenses 3,478 (1,121)
Accrued diagnostic services (695) (881)
Accrued advertising and other allowances (75) (5)
Deferred revenue (76) 619
Deferred tax liability (224) (138)
Lease liabilities (181) (301)
Income taxes payable (912) 2,878
Other liabilities 611 (423)
Net cash (used in) provided by operating activities (11,348) 28,551
Cash flows from investing activities    
Business acquisitions, escrow received 478 0
Business acquisitions, net of cash acquired (2,904) 0
Issuance of secured promissory note receivable 0 0
Purchase of marketable securities (3,819) (6,777)
Proceeds from sales of marketable securities 3,817 1,047
Proceeds from maturities of marketable securities 4,168 7,120
Proceeds from dispositions of property and other assets, net 46 452
Proceeds from promissory note 0 0
Capital expenditures (3,155) (3,919)
Net cash used in investing activities (1,369) (2,077)
Cash flows from financing activities    
Proceeds from issuance of note payable 10,524 0
Proceeds from exercise of warrants 1,200 0
Repayment of common stock for payment of statutory taxes on cashless exercise of stock options (5,379) (7,474)
Repayment of note payable 0 (7,044)
Repurchases of common shares (588) (2,152)
Payment of dividends 0 (9,353)
Net cash provided by (used in) financing activities 5,757 (26,023)
(Decrease) increase in cash, cash equivalents and restricted cash (6,960) 451
Cash, cash equivalents and restricted cash, at the beginning of the year 9,109 8,658
Cash, cash equivalents and restricted cash, at the end of the year 2,149 9,109
Supplemental disclosures:    
Cash paid for income taxes 3,000 1,696
Interest payment on the promissory notes 932 763
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation included in the prepaid expense 1,024 0
Issuance of common shares for debt conversion 2,400 600
Net unrealized loss, investments in marketable securities 1,520 1,294
Assets obtained in exchange for new finance lease obligations 5,809 0
Issuance of warrants with unsecured promissory note 398 0
Common stock issued in asset acquisition $ 1,000 $ 0