Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net (loss) income $ (8,123) $ 606
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 4,950 1,946
Stock-based compensation 820 637
Loss on early debt extinguishment   437
Amortization of discount on warrants and debt issuance costs 232 82
Deferred taxes (3,899) 26
Changes in operating assets and liabilities:    
Accounts receivable 5,886 471
Inventory 748 39
Other current assets (423) 30
Due from related parties (35) (298)
Security deposits 315 (18)
Other assets (863) 11
Accounts payable (1,602) 705
Accrued expenses (2,534) (2,943)
Operating lease liabilities and right-of-use assets 538 450
Deferred revenue (937) (37)
Net cash (used in) provided by operating activities (4,927) 2,144
Investing activities:    
Purchase of property and equipment (1,681) (2,917)
Net cash used in investing activities (1,681) (2,917)
Financing activities:    
Proceeds from CARES Act Loans 18,314  
Borrowings of long-term debt   12,150
Repayments of long-term debt (433) (10,262)
Repayments to related parties   (1,197)
Debt issuance costs (50) (421)
Exercise of stock options 38  
Tax-withholding obligation on stock based compensation (90)  
Net cash provided by financing activities 17,779 270
Effect of exchange rate changes on cash (55) (290)
Net increase (decrease) in cash and cash equivalents 11,116 (793)
Cash and cash equivalents, beginning of year 12,344 1,592
Cash and cash equivalents, end of year 23,460 799
Supplemental disclosure of cash flow data:    
Interest paid 1,770 483
Income taxes paid 106 $ 193
Non-cash property and equipment additions $ 303  

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