| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-51,000 | -49,326 | -24,995 | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
1,303 | 807 | 669 | ||||
Gain or loss on sale of property and equipment | ||||||
8 | - | - | ||||
Equity-based compensation | ||||||
7,972 | 5,211 | 1,482 | ||||
Amortization/accretion of investment securities | ||||||
1,390 | 345 | 9 | ||||
Non-cash operating lease expense | ||||||
997 | - | - | ||||
Deferred payroll tax credit | ||||||
176 | 272 | -199 | ||||
Change in fair value of warrant liability | ||||||
- | - | 10 | ||||
Change in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
25,000 | - | - | ||||
Prepaid expenses and other current assets | ||||||
739 | 1,276 | 477 | ||||
Other assets | ||||||
98 | - | - | ||||
Accounts payable | ||||||
-1,342 | 1,664 | 636 | ||||
Accrued expenses | ||||||
2,453 | 4,361 | 1,309 | ||||
Deferred rent | ||||||
- | -191 | 209 | ||||
Operating lease liabilities | ||||||
-888 | - | - | ||||
Deferred revenue | ||||||
4,508 | 62,904 | - | ||||
Other liabilities | ||||||
-59 | 108 | 46 | ||||
Net cash provided by (used in) operating activities | ||||||
-63,115 | 24,571 | -21,737 | ||||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
3,115 | 1,492 | 361 | ||||
Purchase of marketable securities | ||||||
235,417 | 75,239 | - | ||||
Proceeds from sale of property and equipment | ||||||
8 | - | - | ||||
Maturities of marketable securities | ||||||
176,288 | 16,500 | 18,026 | ||||
Net cash provided by (used in) investing activities | ||||||
-62,236 | -60,231 | 17,665 | ||||
Cash flows from financing activities: | ||||||
Principal payments on loan and capital lease payable | ||||||
- | - | 667 | ||||
Principal payments on loan payable | ||||||
365 | 667 | - | ||||
Proceeds from sale of common stock, net of issuance costs | ||||||
48,300 | 94,935 | - | ||||
Proceeds from issuance of Series B convertible preferred units | ||||||
- | - | 4,285 | ||||
Proceeds from issuance of Series C convertible preferred shares, net of issuance costs | ||||||
- | - | 46,890 | ||||
Proceeds from stock option exercises | ||||||
913 | 6 | - | ||||
Other | ||||||
-13 | -6 | -8 | ||||
Net cash provided by (used in) financing activities | ||||||
48,883 | 94,268 | 50,500 | ||||
Net (decrease) increase in cash and cash equivalents and restricted cash | ||||||
-76,468 | 58,608 | 46,428 | ||||
Supplemental disclosure of non-cash items: | ||||||
Property and equipment purchases in accounts payable and accrued expenses | ||||||
- | 439 | 159 | ||||
Operating lease right-of-use asset obtained in exchange for operating lease obligation | ||||||
5,444 | - | - | ||||
Cash paid for interest | ||||||
- | - | 53 | ||||