| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Profit (Loss) before income taxes | ||||||
-25,860 | -24,503 | -27,085 | ||||
Non-cash adjustment to reconcile income (loss) before tax to net cash used in operating activities: | ||||||
Amortization and impairment of property, plant and equipment | ||||||
2,760 | 3,080 | 3,408 | ||||
Amortization and impairment of intangible assets | ||||||
2,815 | 2,215 | 1,867 | ||||
Share-based payment expense | ||||||
1,638 | 1,122 | 867 | ||||
Increase (Decrease) in provisions | ||||||
165 | -240 | 152 | ||||
Interest expense, net | ||||||
4,612 | 3,686 | 1,516 | ||||
Convertible debt amendments | ||||||
322 | 0 | 0 | ||||
Change in fair value of convertible debt embedded derivative | ||||||
0 | -1,583 | -2,036 | ||||
Other financial expenses | ||||||
0 | 83 | 145 | ||||
Foreign exchange loss (gain) | ||||||
561 | -18 | -340 | ||||
Loss on disposal of property, plant and equipment | ||||||
0 | -2 | -5 | ||||
Working capital adjustments: | ||||||
Decrease (Increase) in trade receivables and other receivables | ||||||
-7,084 | 705 | -9,091 | ||||
Decrease (Increase) in inventories | ||||||
1,317 | -4,628 | 5,134 | ||||
Decrease (Increase) in research tax credit receivable | ||||||
-1,087 | 963 | 578 | ||||
Increase (Decrease) in trade payables and other liabilities | ||||||
-5,939 | 2,354 | 2,041 | ||||
Increase (Decrease) in deferred revenue | ||||||
-242 | -737 | 2,848 | ||||
Decrease in government grant advances | ||||||
-2,271 | -1,030 | -170 | ||||
Income tax paid | ||||||
333 | 226 | 312 | ||||
Net cash flow used in operating activities | ||||||
-28,626 | -15,589 | -16,401 | ||||
Investing activities: | ||||||
Purchase of intangible assets and property, plant and equipment | ||||||
4,232 | 5,368 | 5,097 | ||||
Capitalized development expenditures | ||||||
2,190 | 22 | 386 | ||||
Sale (Purchase) of financial assets | ||||||
-113 | 24 | 345 | ||||
Increase (Decrease) of short-term deposit | ||||||
-2 | 48 | -233 | ||||
Interest received | ||||||
60 | 48 | 26 | ||||
Net cash flow used in investments activities | ||||||
-6,477 | -5,270 | -5,345 | ||||
Financing activities: | ||||||
Public equity offering proceeds, net of transaction costs paid | ||||||
14,898 | 23,569 | 0 | ||||
Proceeds from issue of warrants and exercise of stock options/warrants, net of transaction costs | ||||||
966 | 279 | 29 | ||||
Proceeds (repayment of) from interest-bearing receivables financing | ||||||
-299 | 1,240 | 4,339 | ||||
Proceeds from interest-bearing research project financing | ||||||
2,716 | 1,021 | 0 | ||||
Proceeds from government loans, net of transaction cost | ||||||
0 | 0 | 2,134 | ||||
Proceeds from convertible debt, net of transaction cost | ||||||
0 | 6,932 | 11,572 | ||||
Repayment of government loans | ||||||
116 | 0 | 0 | ||||
Repayment of borrowings and finance lease liabilities | ||||||
0 | 12 | 183 | ||||
Interest paid | ||||||
327 | 251 | 181 | ||||
Net cash flows from financing activities | ||||||
17,838 | 32,778 | 17,710 | ||||
Net increase (decrease) in cash and cash equivalents | ||||||
-17,265 | 11,919 | -4,036 | ||||
Net foreign exchange difference | ||||||
11 | -5 | -5 | ||||