| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-25,834 | 1,277 | |||||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
3,525 | 1,850 | |||||
Stock-based compensation | ||||||
6,308 | 252 | |||||
Inventory write-downs | ||||||
3,109 | - | |||||
Trade-in guarantee | ||||||
268 | 537 | |||||
Warrant revaluation | ||||||
0 | 970 | |||||
Non-cash interest expense | ||||||
367 | 1,031 | |||||
Deferred income taxes | ||||||
109 | 140 | |||||
Provision for doubtful accounts | ||||||
45 | 5 | |||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-8,749 | 8,065 | |||||
Inventory | ||||||
809 | 12,847 | |||||
Prepaid expenses and other current assets | ||||||
-3,681 | 4,127 | |||||
Other assets | ||||||
3,803 | 42 | |||||
Accounts payable | ||||||
-20,075 | 16,049 | |||||
Accrued expenses | ||||||
-6,117 | 7,408 | |||||
Deferred revenue | ||||||
-3,664 | 82 | |||||
Income tax payable | ||||||
1,154 | 415 | |||||
Net cash provided by (used in) operating activities | ||||||
-33,523 | 3,861 | |||||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
992 | 787 | |||||
Development of tooling and purchased software licenses | ||||||
364 | 1,758 | |||||
Net cash used in investing activities | ||||||
-1,356 | -2,545 | |||||
Cash flows from financing activities: | ||||||
Proceeds from ESPP | ||||||
146 | - | |||||
Proceeds from borrowings on long-term debt | ||||||
- | 4,992 | |||||
Repayment on long-term debt | ||||||
3,693 | 215 | |||||
Proceeds on line of credit | ||||||
5,614 | 72,135 | |||||
Repayment on line of credit | ||||||
5,614 | 75,050 | |||||
Proceeds from issuance of common stock, net of costs | ||||||
1,604 | 8,295 | |||||
Cost associated with amendments to credit agreements | ||||||
- | 69 | |||||
Proceeds from issuance of common stock upon IPO, net of costs | ||||||
36,864 | - | |||||
Taxes paid on net issuance of restricted stock award | ||||||
1,897 | - | |||||
Proceeds from exercise of warrants | ||||||
23 | 47 | |||||
Proceeds from exercise of stock options | ||||||
81 | 17 | |||||
Net cash provided by financing activities | ||||||
33,128 | 10,152 | |||||
Net increase (decrease) in cash and cash equivalents | ||||||
-1,751 | 11,468 | |||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
1,043 | 546 | |||||
Cash paid for income taxes | ||||||
273 | 259 | |||||
Non-cash investing and financing activities: | ||||||
Other assets included in accounts payable | ||||||
- | 40 | |||||
IPO issuance costs included in accounts payable | ||||||
14 | - | |||||
Payment of dividends in shares of convertible preferred stock | ||||||
- | 10,152 | |||||
Conversion of preferred stock to common stock | ||||||
- | 93,547 | |||||
Reclassification of warrant (liability to preferred stock) upon exercise of preferred stock | ||||||
- | 2,951 | |||||
Reclassification of warrant (liability to additional paid-in capital) upon conversion and elimination of preferred stock | ||||||
- | 1,804 | |||||