| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
19,458 | 6,574 | -872 | 2,387 | |||
Adjustments to reconcile net income from operations to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
788 | 417 | 271 | 187 | |||
Loss on disposals of property, plant and equipment | ||||||
-294 | 0 | - | - | |||
Equity income in net income of affiliates | ||||||
168 | 123 | 37 | 0 | |||
Net loss from debt conversion and interest waiver | ||||||
- | - | - | 1,608 | |||
Deferred income taxes | ||||||
-3,719 | -405 | 659 | - | |||
Stock-based compensation | ||||||
3,572 | 3,363 | 1,622 | 383 | |||
Loss on disposals of fixed assets, intangible assets and other long-term assets | ||||||
- | - | -1 | -3 | |||
Net changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
6,961 | -883 | - | - | |||
Accounts receivable | ||||||
- | - | 9,757 | 4,724 | |||
Other receivables | ||||||
-891 | 1,171 | -332 | 621 | |||
Inventory | ||||||
6,658 | 24,083 | 3,073 | 3,055 | |||
Prepaid expenses | ||||||
83 | 1,494 | -256 | -219 | |||
Other long-term assets | ||||||
151 | -44 | - | - | |||
Other current assets | ||||||
- | - | -8 | 47 | |||
Accounts payable | ||||||
-3,058 | 9,825 | 1,905 | 3,177 | |||
Advances from customers | ||||||
705 | 8,316 | - | - | |||
Income tax payable | ||||||
1,952 | 1,149 | - | - | |||
Advances from customers | ||||||
- | - | -127 | -4,078 | |||
Income tax payable | ||||||
- | - | 0 | - | |||
Other payables and accrued expenses | ||||||
2,865 | 4,954 | 1,789 | 276 | |||
Other long-term liabilities | ||||||
-324 | -1,340 | -1,078 | 147 | |||
Net cash provided by (used in) operating activities | ||||||
9,403 | 6,909 | - | - | |||
Cash flows from investing activities: | ||||||
Net cash used in operating activities | ||||||
- | - | -8,101 | -3,702 | |||
Purchase of property and equipment | ||||||
971 | 1,830 | 651 | 795 | |||
Purchase of intangible assets | ||||||
154 | 241 | 115 | 22 | |||
Investments in unconsolidated affiliates | ||||||
4,406 | 0 | - | - | |||
Net cash used in investing activities | ||||||
-5,531 | -2,071 | - | - | |||
Cash flows from financing activities: | ||||||
Proceed from disposal of property and equipment | ||||||
- | - | - | 7 | |||
Loan to related party | ||||||
- | - | 946 | 0 | |||
Purchase of non-controlling interest | ||||||
- | - | 20,808 | 0 | |||
Investments in unconsolidated equity method affiliates | ||||||
- | - | 1,200 | 0 | |||
Net cash used in investing activities | ||||||
- | - | -23,720 | -810 | |||
Proceeds from short-term borrowings | ||||||
18,423 | 17,726 | 11,154 | 5,918 | |||
Repayments of short-term borrowings | ||||||
14,005 | 13,131 | 11,110 | 7,575 | |||
Investors deposit | ||||||
- | - | - | 2,902 | |||
Proceeds from stock option exercise to common stock | ||||||
317 | 528 | 396 | 410 | |||
Proceed from issuance of Series E convertible preferred stock | ||||||
- | - | 5,800 | 0 | |||
Proceeds from issuance of Series F preferred stock | ||||||
- | - | - | 9,040 | |||
Proceeds from issuance of Class A common stock in connection with public offering, net of direct issuance expenses of $2,287 | ||||||
26,434 | 0 | 18,717 | 0 | |||
Payment for repurchase of Class A common stock | ||||||
2,827 | 0 | - | - | |||
The cash outflow to cancel common stock during the period. | ||||||
576 | 0 | - | - | |||
Proceeds from issuance of common stock to redeemable Non-controlling interest | ||||||
59,679 | 0 | - | - | |||
Net cash provided by (used in) financing activities | ||||||
87,445 | 5,123 | - | - | |||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||
-582 | -518 | - | - | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
90,735 | 9,443 | - | - | |||
Supplemental disclosure of cash flow information: | ||||||
Interest paid | ||||||
745 | 498 | 277 | 181 | |||
Cash paid for income taxes | ||||||
1,156 | 0 | - | - | |||
Reconciliation of cash, cash equivalents and restricted cash in condensed consolidated statements of cash flows: [Abstract] | ||||||
Payment of inital public offering expenses | ||||||
- | - | 1,537 | 0 | |||
Investment in affiliates | ||||||
- | - | 1,000 | 0 | |||
Repayments of notes payable | ||||||
- | - | - | 141 | |||
Proceeds from issuance of common stock for non-controlling interest purchase | ||||||
- | - | 14,300 | 0 | |||
Net cash provided by financing activities | ||||||
- | - | 38,720 | 10,554 | |||
Effect of exchange rate changes on cash and cash equivalents | ||||||
- | - | 663 | -324 | |||
Net (decrease) increase in cash and cash equivalents | ||||||
- | - | 7,562 | 5,718 | |||
Non-cash financing activities: | ||||||
Debt conversion to Class A common stock | ||||||
- | - | - | 1,486 | |||
Debt conversion to Series F convertible preferred stock | ||||||
- | - | - | 119 | |||
Exercise of stock option in lieu of the cash repayment of notes payable | ||||||
- | - | - | 174 | |||
Convertible preferred shares converted to common shares in connection with initial public offering, amount | ||||||
- | - | 23,834 | 0 | |||
Conversion of warrants to common stock. | ||||||
9 | 3,079 | 0 | - | |||