Cash Flow

v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net (loss) income $ (4,873) $ 769
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,440 942
Stock-based compensation 338 181
Amortization of discount on warrants and debt issuance costs 108 50
Deferred taxes (125) 10
Changes in operating assets and liabilities:    
Accounts receivable 5,092 1,147
Inventory 568 161
Other current assets (958) (96)
Due from related parties, net (35) (38)
Security deposits (32) (18)
Other assets (807) 8
Accounts payable (859) 270
Accrued expenses (3,560) (1,331)
Operating lease liabilities and right-of-use assets 140 321
Deferred revenue (540) 137
Net cash (used in) provided by operating activities (3,103) 2,513
Investing activities:    
Purchase of property and equipment (791) (2,060)
Net cash used in investing activities (791) (2,060)
Financing activities:    
Borrowings of long-term debt
Repayments of long-term debt (216) (798)
Debt issuance costs (48)  
Exercise of stock options 38  
Net cash used in financing activities (226) (798)
Effect of exchange rate changes on cash (64) (168)
Net decrease in cash and cash equivalents (4,184) (513)
Cash and cash equivalents, beginning of year 12,344 1,592
Cash and cash equivalents, end of year 8,160 1,079
Supplemental disclosure of cash flow data:    
Interest paid 704 235
Income taxes paid 85 191
Non-cash amortization of debt issuance costs $ 108 $ 5

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