Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net loss $ (13,452) $ (23,936)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on lease modification (3,139) 0
Stock-based compensation expense 6,510 9,841
Depreciation and amortization 4,627 2,897
Changes in fair value of derivative liabilities (206) (1,435)
Reduction of transaction costs allocated to derivative liabilities upon Business Combination 0 (3,745)
Non-cash interest expense 1,922 1,911
Asset impairment charges 700 0
Inventory reserve (1,216) 1,228
Other non-cash expenses 0 95
Changes in operating assets and liabilities:    
Inventory 2,150 8,355
Prepaids and other assets 99 716
Accounts payable 1,175 (34)
Accrued expenses (4,700) 812
Deferred revenue (268) (1,890)
Operating lease right-of-use assets and liabilities (4,886) (507)
Other liabilities (85) 120
Net cash used in operating activities (10,769) (5,572)
Cash Flows from Investing Activities    
Purchase of property and equipment (906) (1,539)
Net cash used in investing activities (906) (1,539)
Cash Flows from Financing Activities    
Payment of transaction costs related to the Business Combination 0 (4,150)
Proceeds from issuance of debt 0 7,500
Payment of debt issuance costs 0 (925)
Repayment of debt 0 (575)
Payments related to stock-based award activities, net (789) (1,201)
Proceeds from issuance under employee stock purchase plan 235 213
Payment in lieu of fractional shares in connection with reverse split 0 (1)
Net cash (used in) provided by financing activities (554) 861
Net decrease in cash, cash equivalents and restricted cash (12,229) (6,250)
Cash, cash equivalents and restricted cash at beginning of period 94,863 95,985
Cash, cash equivalents and restricted cash at end of period 82,634 89,735
Supplemental Disclosure    
Cash paid for taxes 36 37
Cash paid for interest 6,347 5,784
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Purchase of property and equipment in accounts payable and accrued liabilities 25 154
Reduction in transaction costs allocated to equity instruments 0 9,609
Partial settlement of Earnout due to cancellation of shares 0 347
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 78,807 81,084
Restricted cash 3,827 8,651
Total cash, cash equivalents and restricted cash $ 82,634 $ 89,735