Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (6,569) $ (6,642)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:    
Non-controlling interest (5) (10)
Inventory reserve 122 189
Stock based compensation expense 3,380 3,195
Depreciation and amortization 6,377 6,159
Right-of-use assets, non-cash lease expense 1,839 2,129
Bad debt expense 824 640
Deferred income taxes 701 1,182
Other non-cash items 229 (55)
Changes in:    
Accounts receivable (7,469) 1,959
Inventory (3,689) 1,318
Prepaid expenses and other assets (871) 1,546
Deferred costs 2,888 2,408
Deferred revenue (1,365) (2,695)
Accounts payable and accrued expenses 4,130 (3,907)
Lease liabilities (1,757) (2,218)
Accrued severance payable, net (12) 95
Net cash (used in) provided by operating activities (1,247) 5,293
Cash flows from investing activities:    
Proceeds from sale of property and equipment 55
Capital expenditures (2,534) (2,101)
Net cash (used in) provided by investing activities (2,534) (2,046)
Cash flows from financing activities:    
Net proceeds from stock offering 26,907 4,041
Payment of preferred stock dividends (3,084)
Repayment of long-term debt (4,040) (1,495)
Short-term bank debt, net 94 (290)
Proceeds from exercise of stock options, net 170 371
Purchase of treasury stock upon vesting of restricted stock (383) (298)
Net cash (used in) provided by financing activities 19,664 2,329
Effect of foreign exchange rate changes on cash and cash equivalents (189) (894)
Net (decrease) increase in cash, cash equivalents and restricted cash 15,694 4,682
Cash, cash equivalents, and restricted cash, beginning of period 18,435 16,703
Cash, cash equivalents, and restricted cash, end of period 34,129 21,385
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period    
Cash and cash equivalents 18,127 16,395
Restricted cash 308 308
Cash and cash equivalents 33,821 21,077
Restricted cash 308 308
Cash paid for:    
Taxes 50 42
Interest 1,129 1,463
Noncash investing and financing activities:    
Value of shares withheld pursuant to exercise of stock options $ 647 $ 256