Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities: (net of assets acquired)    
Net loss before non-controlling interest $ (3,441) $ (2,194)
Adjustments to reconcile net loss to cash used in operating activities:    
Inventory reserve 63 45
Stock-based compensation expense 1,109 583
Depreciation and amortization 2,067 382
Right of use asset non-cash lease expense 731 160
Bad debt expense 184 72
Change in contingent consideration 20
Deferred taxes 193
Other non-cash items (8) 33
Changes in:    
Accounts receivable 820 (3,928)
Inventories 691 (255)
Prepaid expenses and other assets (549) 141
Deferred costs 812 (834)
Deferred revenue (924) 2,702
Accrued severance payable, net 100
Lease liabilities (785) (196)
Accounts payable and accrued expenses 1,694 1,653
Net cash (used in) provided by operating activities 2,757 (1,616)
Cash flows from investing activities:    
Acquisition (3,097)
Proceeds from sale of property and equipment 16
Capital expenditures (471) (234)
Purchase of investments (99)
Proceeds from the sale and maturities of investments 4,638
Net cash provided by (used in) investing activities (455) 1,208
Cash flows from financing activities:    
Short-term bank debt, net 104
Repayments of long-term debt (479)
Proceeds from exercise of stock options 127
Shares withheld pursuant to vesting of restricted stock (232) (226)
Net cash used in financing activities (480) (226)
Effect of foreign exchange rate changes on cash and cash equivalents (1,611) (10)
Net (decrease) increase in cash, cash equivalents and restricted cash 211 (644)
Cash, cash equivalents and restricted cash - beginning of period 16,703 10,466
Cash, cash equivalents and restricted cash - end of period 16,914 9,822
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period    
Cash and cash equivalents 16,395 [1] 10,159
Restricted cash 308 [1] 307
Cash, cash equivalents, and restricted cash, beginning of period 16,703 10,466
Cash and cash equivalents 16,606 9,515
Restricted cash 308 307
Cash, cash equivalents, and restricted cash, end of period 16,914 9,822
Cash paid for:    
Taxes 5
Interest 483
Noncash investing and financing activities:    
Unrealized (loss) gain on investments 47
Value of shares withheld pursuant to exercise of stock options $ 256
[1] Derived from audited balance sheet as of December 31, 2019.