Silk Road Medical (SILK) annual cash flow statement covering fiscal 2018 through 2023, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||||||||||||
Net loss | |||||||||||||||||||||
-55,743 | -55,010 | -49,811 | -47,365 | -52,415 | -37,630 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss | -55,743 | -55,010 | -49,811 | -47,365 | -52,415 | -37,630 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||||||||||||
Depreciation and amortization expense | |||||||||||||||||||||
2,696 | 2,127 | 1,032 | 789 | 712 | 517 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization expense | 2,696 | 2,127 | 1,032 | 789 | 712 | 517 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | |||||||||||||||||||||
38,893 | 25,023 | 14,612 | 7,226 | 2,977 | 911 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 38,893 | 25,023 | 14,612 | 7,226 | 2,977 | 911 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of redeemable convertible preferred stock warrant liability | |||||||||||||||||||||
- | - | - | - | 21,030 | 11,906 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of redeemable convertible preferred stock warrant liability | - | - | - | - | 21,030 | 11,906 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accretion of discounts on investments, net | |||||||||||||||||||||
6,497 | 1,419 | -577 | -304 | 309 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accretion of discounts on investments, net | 6,497 | 1,419 | -577 | -304 | 309 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of debt discount and debt issuance costs | |||||||||||||||||||||
232 | 218 | 158 | 66 | 46 | 68 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of debt discount and debt issuance costs | 232 | 218 | 158 | 66 | 46 | 68 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of right-of-use asset | |||||||||||||||||||||
1,096 | 1,041 | 887 | 602 | 582 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of right-of-use asset | 1,096 | 1,041 | 887 | 602 | 582 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash interest expense | |||||||||||||||||||||
819 | 1,037 | - | 241 | 672 | 1,555 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash interest expense | 819 | 1,037 | - | 241 | 672 | 1,555 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on extinguishment of debt | |||||||||||||||||||||
- | -245 | - | -1,119 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on extinguishment of debt | - | -245 | - | -1,119 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on disposal of property and equipment | |||||||||||||||||||||
-160 | -180 | -9 | -52 | - | -159 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on disposal of property and equipment | -160 | -180 | -9 | -52 | - | -159 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for doubtful accounts receivable | |||||||||||||||||||||
45 | -3 | 6 | -32 | 23 | -123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for doubtful accounts receivable | 45 | -3 | 6 | -32 | 23 | -123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for excess and obsolete inventories | |||||||||||||||||||||
198 | 6 | 77 | 117 | 118 | 23 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for excess and obsolete inventories | 198 | 6 | 77 | 117 | 118 | 23 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in assets and liabilities: | |||||||||||||||||||||
Accounts receivable | |||||||||||||||||||||
5,610 | 6,172 | 2,769 | 437 | 2,241 | 446 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 5,610 | 6,172 | 2,769 | 437 | 2,241 | 446 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories | |||||||||||||||||||||
10,781 | 1,447 | 5,563 | 2,161 | 4,696 | 2,565 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories | 10,781 | 1,447 | 5,563 | 2,161 | 4,696 | 2,565 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | |||||||||||||||||||||
1,988 | 525 | 772 | -250 | 1,471 | 1,128 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | 1,988 | 525 | 772 | -250 | 1,471 | 1,128 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
236 | 27 | 117 | -210 | -552 | 62 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 236 | 27 | 117 | -210 | -552 | 62 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||||
3,063 | 967 | -1,159 | 592 | 615 | -309 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | 3,063 | 967 | -1,159 | 592 | 615 | -309 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued liabilities | |||||||||||||||||||||
2,854 | 1,868 | 4,418 | 146 | 4,964 | 5,023 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued liabilities | 2,854 | 1,868 | 4,418 | 146 | 4,964 | 5,023 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||||
-1,215 | -690 | -520 | 26 | -769 | 406 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | -1,215 | -690 | -520 | 26 | -769 | 406 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of interest paid in kind | |||||||||||||||||||||
- | - | - | 3,813 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of interest paid in kind | - | - | - | 3,813 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in operating activities | |||||||||||||||||||||
-32,014 | -32,581 | -38,935 | -42,068 | -29,610 | -21,695 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in operating activities | -32,014 | -32,581 | -38,935 | -42,068 | -29,610 | -21,695 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment | |||||||||||||||||||||
1,507 | 5,005 | 4,758 | 842 | 535 | 2,276 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 1,507 | 5,005 | 4,758 | 842 | 535 | 2,276 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of property and equipment | |||||||||||||||||||||
- | - | 2 | - | - | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of property and equipment | - | - | 2 | - | - | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of investments | |||||||||||||||||||||
174,969 | 168,163 | - | 79,906 | 69,421 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of investments | 174,969 | 168,163 | - | 79,906 | 69,421 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from maturity of investments | |||||||||||||||||||||
169,300 | 11,100 | 77,400 | 71,355 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from maturity of investments | 169,300 | 11,100 | 77,400 | 71,355 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) investing activities | |||||||||||||||||||||
-7,176 | -162,068 | 72,644 | -9,393 | -69,956 | -2,270 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) investing activities | -7,176 | -162,068 | 72,644 | -9,393 | -69,956 | -2,270 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities | |||||||||||||||||||||
Proceeds from public offerings, net of underwriting discount, commissions and offering costs paid | |||||||||||||||||||||
- | 108,992 | - | 70,568 | 109,352 | -233 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from public offerings, net of underwriting discount, commissions and offering costs paid | - | 108,992 | - | 70,568 | 109,352 | -233 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from long-term debt, net | |||||||||||||||||||||
- | 73,911 | - | 48,506 | - | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from long-term debt, net | - | 73,911 | - | 48,506 | - | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock | |||||||||||||||||||||
3,887 | 5,796 | 6,946 | 5,168 | 2,590 | 656 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock | 3,887 | 5,796 | 6,946 | 5,168 | 2,590 | 656 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Principal repayment of long-term debt | |||||||||||||||||||||
- | 49,000 | - | 40,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Principal repayment of long-term debt | - | 49,000 | - | 40,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of prepayment penalty and lender fees | |||||||||||||||||||||
- | - | - | 2,496 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of prepayment penalty and lender fees | - | - | - | 2,496 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from disgorgement of short-swing profits, net | |||||||||||||||||||||
- | - | 32 | - | - | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disgorgement of short-swing profits, net | - | - | 32 | - | - | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | |||||||||||||||||||||
3,887 | 139,699 | 6,978 | 81,746 | 113,757 | 15,424 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 3,887 | 139,699 | 6,978 | 81,746 | 113,757 | 15,424 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash and cash equivalents | |||||||||||||||||||||
-35,303 | -54,950 | 40,687 | 30,285 | 14,191 | -8,541 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash and cash equivalents | -35,303 | -54,950 | 40,687 | 30,285 | 14,191 | -8,541 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental disclosure of cash flow information | |||||||||||||||||||||
Cash paid for interest | |||||||||||||||||||||
5,821 | 3,843 | 2,360 | 7,917 | 4,234 | 2,738 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest | 5,821 | 3,843 | 2,360 | 7,917 | 4,234 | 2,738 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Noncash investing and financing activities: | |||||||||||||||||||||
Accounts payable and accrued liabilities for purchases of property and equipment | |||||||||||||||||||||
67 | 117 | 1,138 | 108 | 32 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and accrued liabilities for purchases of property and equipment | 67 | 117 | 1,138 | 108 | 32 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Right-of-use asset obtained in exchange for lease obligation | |||||||||||||||||||||
2,504 | 903 | 3,307 | - | 3,982 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Right-of-use asset obtained in exchange for lease obligation | 2,504 | 903 | 3,307 | - | 3,982 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Landlord paid tenant improvements | |||||||||||||||||||||
- | - | - | - | - | 794 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Landlord paid tenant improvements | - | - | - | - | - | 794 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unpaid deferred offering costs | |||||||||||||||||||||
- | - | - | 25 | - | 717 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unpaid deferred offering costs | - | - | - | 25 | - | 717 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net exercise of convertible preferred stock warrants to preferred stock | |||||||||||||||||||||
- | - | - | - | 37,121 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net exercise of convertible preferred stock warrants to preferred stock | - | - | - | - | 37,121 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Conversion of convertible preferred stock to common stock upon initial public offering | |||||||||||||||||||||
- | - | - | - | 144,140 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Conversion of convertible preferred stock to common stock upon initial public offering | - | - | - | - | 144,140 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Redeemable Convertible Preferred Stock | |||||||||||||||||||||
Proceeds from exercise of redeemable convertible preferred stock warrants | |||||||||||||||||||||
- | - | - | - | 1,784 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from exercise of redeemable convertible preferred stock warrants | - | - | - | - | 1,784 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common Stock Warrant | |||||||||||||||||||||
Proceeds from exercise of redeemable convertible preferred stock warrants | |||||||||||||||||||||
- | - | - | - | 31 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from exercise of redeemable convertible preferred stock warrants | - | - | - | - | 31 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||