Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities (net of net assets acquired):      
Net loss before non-controlling interest $ (10,981) $ (5,812) $ (3,870)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:      
Inventory reserve 207 321 313
Stock based compensation expense 3,794 2,163 2,437
Depreciation and amortization 3,347 1,561 1,132
Right of use asset non cash lease expense 965
Bad debt expense 319 31 115
Change in contingent consideration 54 169 94
Other non-cash items (40) 85 (69)
Changes in:      
Accounts receivable (1,142) (554) 1,597
Inventory (3,283) (384) 87
Prepaid expenses and other assets 567 963 1,206
Deferred costs 539 (471) 1,790
Deferred revenue (857) (361) 186
Accounts payable and accrued expenses 360 587 (1,099)
Lease liabilities (1,106)
Accrued severance payable, net (12)
Net cash (used in) provided by operating activities (7,269) (1,702) 3,919
Cash flows from investing activities:      
Acquisitions, net of cash assumed (69,005) (7,373)
Proceeds from sale of property and equipment 24
Capital expenditures (1,042) (251) (386)
Purchases of investments (99) (3,235) (11,083)
Proceeds from the sale and maturities of investments 4,638 10,082 1,113
Net cash (used in) provided by investing activities (65,484) 6,596 (17,729)
Cash flows from financing activities:      
Net proceeds from preferred stock offering 46,309
Proceeds from convertible note 5,000
Proceeds from long-term debt 30,000
Repayments of long-term debt (2,010)
Debt issuance costs (742)
Short-term bank debt, net 75
Net proceeds from underwritten public offering 16,065
Revolving credit facility, net (2,993)
Proceeds from exercise of stock options 330 721 1,277
Shares withheld pursuant to vesting of restricted stock (317) (652)
Net cash provided by financing activities 78,645 69 14,349
Effect of foreign exchange rate changes on cash and cash equivalents 345 100 (413)
Net increase in cash, cash equivalents and restricted cash 6,237 5,063 126
Cash, cash equivalents and restricted cash - beginning of period 10,466 5,403 5,277
Cash, cash equivalents and restricted cash - end of period 16,703 10,466 5,403
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period      
Cash and cash equivalents 10,159 5,097 4,972
Restricted cash 307 306 305
Cash, cash equivalents, and restricted cash, beginning of period 10,466 5,403 5,277
Cash and cash equivalents 16,395 10,159 5,097
Restricted cash 308 307 306
Cash, cash equivalents, and restricted cash, end of period 16,703 10,466 5,403
Cash paid for:      
Taxes 605
Interest 807 130
Non-cash investing and financing activities:      
Unrealized gain (loss) on investments 47 66 (102)
Shares withheld pursuant to stock issuance 249 465
Value of shares issued relating to acquisition contingent consideration 1,000 2,000  
Value of shares issued pursuant to acquisitions (58,486) 2,000
Contingent consideration relating to acquisition $ 2,683