Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (53,364) $ (16,782)
Less: loss from discontinued operations, net of tax (3,839) (402)
Net loss from continuing operations (49,525) (16,380)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Realized loss on marketable debt securities 18 (22)
Depreciation and amortization 6,187 6,050
Amortization of debt discount 1,485 132
Amortization on right-of-use assets 457 421
Gain from disposal of fixed assets (91) (23)
Stock-based compensation expense 3,638 3,536
Accounts receivable allowances 11,018 724
Inventory valuation reserve (212) 0
Credit loss expense, direct write-offs 0 91
Debt extinguishment loss 333 0
Changes in operating assets and liabilities:    
Accounts receivable 4,738 (617)
Inventory 1,360 170
Prepaid expenses and other current assets (45) (216)
Deferred tax asset 7,150 (7,313)
Other assets 853 0
Accounts payable and accrued expenses 5,066 2,862
Accrued diagnostic services (283) (695)
Accrued advertising and other allowances 127 (75)
Deferred revenue (1,000) (76)
Deferred tax liability 0 (307)
Lease liabilities (1,408) (181)
Income taxes payable (1,292) (911)
Other liabilities (377) 637
Net cash used in operating activities - continuing operations (11,803) (12,193)
Net cash (used in) provided by operating activities - discontinued operations (5,735) 305
Net cash used in operating activities (17,538) (11,888)
Cash flows from investing activities    
Business acquisitions, escrow received 0 478
Business acquisitions, net of cash acquired 0 (2,904)
Purchase of marketable securities 0 (3,819)
Proceeds from sales of marketable securities 0 3,817
Proceeds from maturities of marketable securities 3,374 4,168
Proceeds from dispositions of property and other assets, net 229 46
Capital expenditures (906) (2,084)
Net cash provided by (used in) investing activities - continuing operations 2,697 (298)
Net cash used in investing activities - discontinued operations (275) (1,071)
Net cash provided by (used in) investing activities 2,422 (1,369)
Cash flows from financing activities    
Proceeds from issuance of common stock from public offering, net 7,594 0
Proceeds from issuance of note payable 9,862 7,600
Proceeds from exercise of warrants 0 1,200
Repayment of common stock for payment of statutory taxes on cashless exercise of stock options 0 (5,379)
Repayment of note payable (4,249) 0
Repurchases of common shares 0 (588)
Net cash provided by financing activities - continuing operations 13,207 2,833
Net cash (used in) provided by financing activities - discontinued operations 978 2,924
Net cash provided by financing activities 14,185 5,757
Decrease in cash, cash equivalents and restricted cash (931) (7,500)
Cash and cash equivalents at the beginning of the year 1,609 9,109
Cash and cash equivalents at the end of the year 678 1,609
Supplemental disclosures:    
Cash paid for income taxes 1,126 3,000
Interest payment on the promissory notes 3,105 932
Supplemental disclosure of non-cash investing and financing activities:    
Assets obtained in exchange for new finance lease obligations 3,783 5,809
Issuance of treasury shares as collateral for a loan 3 0
Stock-based compensation included in the prepaid expense 0 1,024
Issuance of common shares for debt conversion 0 2,400
Net unrealized loss, investments in marketable securities 265 1,520
Issuance of warrants with unsecured promissory note 0 398
Common stock issued in asset acquisition $ 0 $ 1,000