TransMedics Group (TMDX) annual cash flow statement covering fiscal 2018 through 2022, 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'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||
Net loss | ||||||||||||||||||||
-36,231 | -44,215 | -28,748 | -33,547 | -23,756 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss | -36,231 | -44,215 | -28,748 | -33,547 | -23,756 | 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 | ||||||||||||||||||||
3,500 | 1,800 | 1,600 | 1,222 | 769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization expense | 3,500 | 1,800 | 1,600 | 1,222 | 769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | ||||||||||||||||||||
10,321 | 6,878 | 2,414 | 854 | 144 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 10,321 | 6,878 | 2,414 | 854 | 144 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on extinguishment of debt | ||||||||||||||||||||
-575 | - | - | - | -305 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on extinguishment of debt | -575 | - | - | - | -305 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on sale of marketable securities | ||||||||||||||||||||
107 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on sale of marketable securities | 107 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of preferred stock warrant liability | ||||||||||||||||||||
- | - | - | 341 | 545 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of preferred stock warrant liability | - | - | - | 341 | 545 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash interest expense and end of term accretion expense | ||||||||||||||||||||
465 | 540 | 511 | 475 | 177 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash interest expense and end of term accretion expense | 465 | 540 | 511 | 475 | 177 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash lease expense | ||||||||||||||||||||
717 | 829 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash lease expense | 717 | 829 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net amortization of premiums on marketable securities | ||||||||||||||||||||
381 | 1,356 | 634 | -205 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net amortization of premiums on marketable securities | 381 | 1,356 | 634 | -205 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unrealized foreign currency transaction losses | ||||||||||||||||||||
-1,129 | -928 | 1,065 | -200 | -150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unrealized foreign currency transaction losses | -1,129 | -928 | 1,065 | -200 | -150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities, net of acquired assets and liabilities: | ||||||||||||||||||||
Accounts receivable | ||||||||||||||||||||
21,678 | -840 | 218 | 3,166 | 2,513 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 21,678 | -840 | 218 | 3,166 | 2,513 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventory | ||||||||||||||||||||
8,024 | 4,894 | 1,740 | 4,121 | 2,699 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventory | 8,024 | 4,894 | 1,740 | 4,121 | 2,699 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | ||||||||||||||||||||
-2,521 | 3,151 | 769 | -250 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | -2,521 | 3,151 | 769 | -250 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | ||||||||||||||||||||
-3,270 | 5,090 | -5,802 | 3,443 | 164 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | -3,270 | 5,090 | -5,802 | 3,443 | 164 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses and other current liabilities | ||||||||||||||||||||
3,437 | 4,875 | 1,948 | 2,453 | 2,338 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses and other current liabilities | 3,437 | 4,875 | 1,948 | 2,453 | 2,338 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | ||||||||||||||||||||
- | 7 | 60 | -136 | 67 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | - | 7 | 60 | -136 | 67 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liabilities | ||||||||||||||||||||
255 | 236 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liabilities | 255 | 236 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred rent | ||||||||||||||||||||
- | - | -933 | 349 | 329 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred rent | - | - | -933 | 349 | 329 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in operating activities | ||||||||||||||||||||
-45,817 | -28,864 | -30,265 | -32,286 | -25,984 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in operating activities | -45,817 | -28,864 | -30,265 | -32,286 | -25,984 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | ||||||||||||||||||||
Purchases of property, plant and equipment | ||||||||||||||||||||
11,907 | 3,519 | 455 | 165 | 418 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property, plant and equipment | 11,907 | 3,519 | 455 | 165 | 418 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of marketable securities | ||||||||||||||||||||
10,496 | 72,024 | 121,793 | 82,371 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of marketable securities | 10,496 | 72,024 | 121,793 | 82,371 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sales and maturities of marketable securities | ||||||||||||||||||||
76,916 | 104,810 | 80,650 | 22,035 | 12,725 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sales and maturities of marketable securities | 76,916 | 104,810 | 80,650 | 22,035 | 12,725 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) investing activities | ||||||||||||||||||||
54,513 | 29,267 | -41,598 | -60,501 | 12,307 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) investing activities | 54,513 | 29,267 | -41,598 | -60,501 | 12,307 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from issuance of long-term debt, net of issuance costs and issuance costs paid | ||||||||||||||||||||
58,509 | - | - | - | 33,436 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of long-term debt, net of issuance costs and issuance costs paid | 58,509 | - | - | - | 33,436 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayments of long-term debt | ||||||||||||||||||||
36,050 | - | - | - | 9,076 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayments of long-term debt | 36,050 | - | - | - | 9,076 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock in public offering, net of underwriting discounts and commissions and issuance costs paid | ||||||||||||||||||||
139,854 | - | 74,965 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock in public offering, net of underwriting discounts and commissions and issuance costs paid | 139,854 | - | 74,965 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of public offering and other financing costs | ||||||||||||||||||||
- | - | - | 4,846 | 2,342 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of public offering and other financing costs | - | - | - | 4,846 | 2,342 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock in public offering, net of underwriting discounts and commissions | ||||||||||||||||||||
- | - | - | 97,367 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock in public offering, net of underwriting discounts and commissions | - | - | - | 97,367 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock upon exercise of stock options | ||||||||||||||||||||
4,667 | 974 | 227 | 202 | 46 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock upon exercise of stock options | 4,667 | 974 | 227 | 202 | 46 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of warrants | ||||||||||||||||||||
438 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of warrants | 438 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock in connection with employee stock purchase plan | ||||||||||||||||||||
509 | 419 | 357 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock in connection with employee stock purchase plan | 509 | 419 | 357 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from Paycheck Protection Program loan | ||||||||||||||||||||
- | - | 2,249 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from Paycheck Protection Program loan | - | - | 2,249 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of Paycheck Protection Program loan | ||||||||||||||||||||
- | - | 2,249 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of Paycheck Protection Program loan | - | - | 2,249 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | ||||||||||||||||||||
167,927 | 1,393 | 75,549 | 92,723 | 22,064 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 167,927 | 1,393 | 75,549 | 92,723 | 22,064 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||||||||||
-1,021 | -797 | 803 | -85 | -82 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | -1,021 | -797 | 803 | -85 | -82 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net increase in cash, cash equivalents and restricted cash | ||||||||||||||||||||
175,602 | 999 | 4,489 | -149 | 8,305 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net increase in cash, cash equivalents and restricted cash | 175,602 | 999 | 4,489 | -149 | 8,305 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for interest | ||||||||||||||||||||
3,260 | 3,334 | 3,475 | 3,877 | 2,401 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest | 3,260 | 3,334 | 3,475 | 3,877 | 2,401 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||
Conversion of convertible preferred stock to common stock upon initial public offering | ||||||||||||||||||||
- | - | - | 186,519 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Conversion of convertible preferred stock to common stock upon initial public offering | - | - | - | 186,519 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Transfers of inventory to property, plant and equipment | ||||||||||||||||||||
2,135 | 1,823 | 1,191 | 2,146 | 1,393 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Transfers of inventory to property, plant and equipment | 2,135 | 1,823 | 1,191 | 2,146 | 1,393 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reclassification of warrant liability to equity upon initial public offering | ||||||||||||||||||||
- | - | - | 1,239 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Reclassification of warrant liability to equity upon initial public offering | - | - | - | 1,239 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property, plant and equipment included in accounts payable and accrued expenses | ||||||||||||||||||||
62 | 1,200 | - | 169 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property, plant and equipment included in accounts payable and accrued expenses | 62 | 1,200 | - | 169 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Offering costs included in accounts payable and accrued expenses | ||||||||||||||||||||
- | - | - | 120 | 1,041 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Offering costs included in accounts payable and accrued expenses | - | - | - | 120 | 1,041 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Settlement of accrued financing fee | ||||||||||||||||||||
- | - | - | 124 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Settlement of accrued financing fee | - | - | - | 124 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||