Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Cash flows from operating activities      
Net loss $ (28,314)   $ (36,325)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 4,567   1,560
Stock-based compensation 5,087   6,236
Loss on fair value of warrants 2,620 $ 2,620 2,553
Loss on fair value of contingent earnout liabilities 437   9,653
Changes in assets and liabilities      
Accounts receivable (2,070)   (5,162)
Inventories 2,645   (1,425)
Contract assets (2,118)   (1,124)
Prepaid expenses and other current assets 1,078   2,776
Other assets 396   247
Accounts payable (4,199)   (2,694)
Accrued expenses and other liabilities (218)   (1,848)
Contract liabilities (416)   (4,583)
Other noncurrent liabilities (18)   (698)
Net cash used in operating activities (20,523)   (30,834)
Cash flows from investing activities      
Purchase of property and equipment (6)   (403)
Production of equipment for lease to customers (1)   (135)
Proceeds from maturity of available-for-sale investments 3,500   21,500
Net cash provided by investing activities 3,493   20,962
Cash flows from financing activities      
Proceeds from ATM offering, net of issuance costs 0   10,458
Proceeds from revolver facility 0   5,000
Repayment of equipment loans 0   (734)
Issuance of common stock upon exercise of stock options 285   310
Net cash provided by financing activities 285   15,034
Effect of exchange rate changes on cash and cash equivalents 5   (6)
Net change in cash and cash equivalents (16,740)   5,156
Cash and cash equivalents and restricted cash at beginning of period 25,294   32,783
Cash and cash equivalents and restricted cash at end of period 8,554 25,294 37,939
Supplemental disclosure of cash flow information      
Cash paid for interest 556   220
Supplemental disclosure of non-cash information      
Unpaid liabilities related to property and equipment (59)   (16)
Equipment for lease to customers returned to inventory 912   0
Cash and Cash Equivalents and Restricted Cash      
Cash and cash equivalents 7,754 24,494 37,139
Restricted cash (Other assets) 800   800
Total cash and cash equivalents and restricted cash $ 8,554 $ 25,294 $ 37,939