Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (19,005) $ (8,031)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Realized loss on marketable debt securities 18 (3)
Depreciation and amortization 5,693 4,435
Amortization of debt discount 1,000 97
Amortization on operating lease right-of-use assets 338 325
Stock-based compensation expense 3,021 2,860
Accounts receivable allowances 0 718
Credit loss expense, direct write-off 0 74
Inventory reserve 21 0
Gain from disposal of fixed assets (91) 0
Changes in operating assets and liabilities:    
Accounts receivable 4,675 (2,380)
Inventory (146) (1,078)
Prepaid expenses and other current assets (4,218) (938)
Deferred tax asset (7,427) (4,350)
Other assets 853 0
Accounts payable and accrued expenses 6,069 (438)
Accrued diagnostic services (276) (768)
Accrued advertising and other allowances 98 14
Deferred revenue (907) (315)
Deferred tax liability 0 (307)
Operating lease liabilities (1,710) (139)
Income tax payable (1,004) (881)
Other liabilities (969) (30)
Net cash used in operating activities (13,967) (11,135)
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 3,817
Proceeds from sales of fixed assets 229 0
Capital expenditures (1,141) (1,845)
Net cash provided by (used in) investing activities 2,462 (105)
Cash flows from financing activities    
Proceeds from issuance of note payable, net 8,334 7,600
Proceeds from issuance of common shares, net 4,624 0
Proceeds from exercise of warrants 0 1,200
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 (2,508) 0
Net cash provided by financing activities 10,450 2,833
Decrease in cash, cash equivalents and restricted cash (1,055) (8,407)
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 1,094 702
Supplemental disclosures:    
Cash paid for income taxes 860 3,000
Interest payment on the promissory notes 2,126 740
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of common shares for debt conversion 0 2,400
Stock-based compensation included in the prepaid expense 0 1,138
Net unrealized loss, investments in marketable debt securities 267 2,083
Assets obtained in exchange for new finance lease obligations 3,699 6,201
Reclassification between prepaid expenses and other assets 544 0
Issuance of warrants with unsecured promissory note 0 398
Common stock issued in asset acquisition $ 0 $ 1,000