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
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss before non-controlling interest $ (6,068) $ (4,779)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:    
Inventory reserve 126 93
Stock based compensation expense 2,086 1,184
Depreciation and amortization 4,050 852
Right of use assets, non-cash lease expense 1,437 344
Change in contingent consideration 47
Bad debt expense 245 110
Deferred income taxes 653
Other non-cash items (35) 29
Changes in:    
Accounts receivable 3,144 (1,697)
Inventory 1,111 (2,231)
Prepaid expenses and other assets 2,333 487
Deferred costs 1,624 (609)
Deferred revenue (2,311) 694
Accounts payable and accrued expenses (2,602) 3,578
Lease liabilities (1,496) (384)
Accrued severance payable, net 118
Net cash (used in) provided by operating activities 4,415 (2,282)
Cash flows from investing activities:    
Acquisitions, net of cash assumed (3,800)
Proceeds from sale of property and equipment 35
Capital expenditures (822) (396)
Purchases of investments (99)
Proceeds from the sale and maturities of investments 4,638
Net cash provided by (used in) investing activities (787) 343
Cash flows from financing activities:    
Net proceeds from stock offering 4,041
Repayment of long-term debt (991)
Short-term bank credit, net (357)
Proceeds from exercise of stock options 342 177
Common stock repurchased - vesting of restricted stock (248) (245)
Net cash (used in) provided by financing activities 2,787 (68)
Effect of foreign exchange rate changes on cash and cash equivalents (1,341) (54)
Net (decrease) increase in cash, cash equivalents and restricted cash 5,074 (2,061)
Cash, cash equivalents and restricted cash - beginning of period 16,703 10,466
Cash, cash equivalents and restricted cash - end of period 21,777 8,405
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 21,469 8,098
Restricted cash 308 307
Cash, cash equivalents, and restricted cash, end of period 21,777 8,405
Cash paid for:    
Taxes 38
Interest 934 56
Noncash investing and financing activities:    
Unrealized 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.