Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities (net of net assets acquired):      
Net loss $ (9,010) $ (10,981) $ (5,812)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:      
Non-controlling interest (3) (18)
Preferred dividends 4,599 1,084
Inventory reserve 260 207 321
Stock based compensation 4,259 4,213 2,163
Depreciation and amortization 8,425 3,347 1,561
Right-of-use assets, non-cash lease expense 2,832 965
Bad debt expense 1,035 474 31
Change in contingent consideration 54 169
Deferred income taxes 359
Other non-cash items 23 (40) 85
Changes in:      
Accounts receivable 2,168 (1,297) (554)
Inventory 3,050 (3,283) (384)
Prepaid expenses and other assets 1,908 567 963
Deferred costs 3,169 539 (471)
Deferred revenue (4,326) (857) (361)
Accounts payable and accrued expenses (2,392) (59) 587
Lease liabilities (2,962) (1,106)
Accrued severance payable, net 50 (12)
Net cash (used in) provided by operating activities 8,848 (7,269) (1,702)
Cash flows from investing activities:      
Acquisitions, net of cash assumed (69,005)
Proceeds from sale of property and equipment 75 24
Capital expenditures (3,373) (1,042) (251)
Purchases of investments (99) (3,235)
Proceeds from the sale and maturities of investments 4,638 10,082
Net cash (used in) provided by investing activities (3,298) (65,484) 6,596
Cash flows from financing activities:      
Net proceeds from stock offering 4,041 46,309
Proceeds from convertible note 5,000
Repayment of convertible note (5,000)
Proceeds from long-term-debt 30,000
Repayment of long-term debt (2,858) (2,010)
Debt issuance costs (742)
Short-term bank debt, net (262) 75
Proceeds from exercise of stock options 556 330 721
Purchase of treasury stock upon vesting of restricted stock (423) (317) (652)
Net cash (used in) provided by financing activities (3,946) 78,645 69
Effect of foreign exchange rate changes on cash and cash equivalents 128 345 100
Net increase in cash, cash equivalents and restricted cash 1,732 6,237 5,063
Cash, cash equivalents and restricted cash - beginning of period 16,703 10,466 5,403
Cash, cash equivalents and restricted cash - end of period 18,435 16,703 10,466
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period      
Cash and cash equivalents 16,395 10,159 5,097
Restricted cash 308 307 306
Cash, cash equivalents, and restricted cash, beginning of period 16,703 10,466 5,403
Cash and cash equivalents 18,127 16,395 10,159
Restricted cash 308 308 307
Cash, cash equivalents, and restricted cash, end of period 18,435 16,703 10,466
Cash paid for:      
Taxes 47 605
Interest 2,297 807
Noncash investing and financing activities:      
Unrealized (loss) gain on investments 47 66
Shares withheld pursuant to stock issuance 249
Value of shares withheld pursuant to exercise of stock options 382
Value of shares issued relating to acquisition contingent consideration 1,000 2,000
Value of shares issued pursuant to acquisitions $ (58,486)