Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (12,418) $ (2,890)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Realized loss on marketable debt securities 18 108
Depreciation and amortization 3,303 2,639
Amortization of debt discount 381 44
Amortization on operating lease right-of-use assets 222 217
Stock-based compensation expense 2,385 2,003
Accounts receivable allowances 0 718
Credit loss expense, direct write-off 0 (194)
Inventory reserve (75) 0
Gain from disposal of fixed assets (19) 0
Changes in operating assets and liabilities:    
Accounts receivable 3,376 (2,042)
Inventory 49 353
Prepaid expenses and other current assets (3,809) (1,661)
Deferred tax asset (4,900) (1,790)
Other assets 847 0
Accounts payable and accrued expenses 4,245 (1,119)
Accrued diagnostic services (87) (667)
Accrued advertising and other allowances (13) (28)
Deferred revenue (768) (198)
Deferred tax liability 0 (307)
Operating lease liabilities (895) (154)
Income tax payable (618) (1,798)
Other liabilities (1,161) 285
Net cash used in operating activities (9,937) (6,481)
Cash flows from investing activities    
Business acquisitions, escrow received 0 478
Asset acquisitions, net of cash acquired 0 (2,904)
Purchase of marketable securities 0 (3,819)
Proceeds from maturities of marketable securities 0 4,168
Proceeds from sales of marketable securities 3,374 2,817
Proceeds from sales of fixed assets 150 0
Capital expenditures (965) (1,177)
Net cash provided by (used in) investing activities 2,559 (437)
Cash flows from financing activities    
Proceeds from issuance of note payable 3,868 7,600
Proceeds from issuance of common shares, net 4,624 0
Repurchases of common shares 0 (588)
Repurchase of common stock for payment of statutory taxes due on cashless exercise of stock option 0 (5,379)
Repayment of note payable (898) 0
Net cash provided by financing activities 7,594 1,633
Increase (decrease) in cash, cash equivalents and restricted cash 216 (5,285)
Cash, cash equivalents and restricted cash at the beginning of the period 2,149 9,109
Cash, cash equivalents and restricted cash at the end of the period 2,365 3,824
Supplemental disclosures:    
Cash paid for income taxes 454 3,000
Interest payment on the promissory notes 1,237 690
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation included in the prepaid expense 0 1,251
Net unrealized loss, investments in marketable debt securities 266 258
Assets obtained in exchange for new finance lease obligations 3,699 1,495
Reclassification between prepaid expenses and other assets 544 0
Accrued offering cost 22 0
Issuance of warrants with unsecured promissory note 0 398
Common stock issued in asset acquisition $ 0 $ 1,000