Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income (loss) $ 1,057 $ (809)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Realized loss on marketable debt securities 2 3
Depreciation and amortization 536 82
Amortization of debt discount 2
Amortization on right-of-use assets 85
Lower of cost or net realizable value inventory adjustment 12
Stock-based compensation expense 428 198
Changes in operating assets and liabilities:    
Accounts receivable (11,178) 797
Inventory (12,987) (256)
Prepaid and other assets 2,243 64
Other assets (8)
Accounts payable and accrued expenses 4,009 263
Lease liabilities 101
Other liabilities 7,818 (69)
Net cash (used in) provided by operating activities (7,892) 285
Cash flows from investing activities    
Issuance of secured promissory note receivable (1,000)
Purchase of marketable securities (2,005) (706)
Proceeds from sale of marketable debt securities 100 800
Capital expenditures (3,927) (116)
Net cash used in investing activities (6,832) (22)
Cash flows from financing activities    
Proceeds from issuance of common stock from public offering, net 35,135
Proceeds from issuance of common stock and warrants from private offering 5,500  
Net cash provided by financing activities 40,635
Increase in cash and cash equivalents 25,911 263
Cash and cash equivalents, at the beginning of the period 6,816 434
Cash and cash equivalents, at the end of the period 32,727 697
Supplemental disclosures:    
Cash paid for income taxes
Interest payment on the promissory notes 250
Supplemental disclosure of non-cash investing and financing activities:    
Net unrealized gain (loss), investments in marketable debt securities $ (11) $ 11