Consolidated Statements of Cash Flows
$ in Thousands |
12 Months Ended |
|
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
| Operating activities: |
|
|
|
| Net (loss) income |
$ (39,756)
|
$ (13,707)
|
$ 781
|
| Adjustments to reconcile net (loss) income to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
2,920
|
796
|
512
|
| Amortization of inventory fair market value adjustment |
4,175
|
0
|
0
|
| Gain on disposal of property and equipment |
0
|
(2)
|
0
|
| Stock-based compensation |
1,998
|
1,341
|
535
|
| Amortization of deferred revenue |
(45)
|
(130)
|
(727)
|
| Amortization of debt discount and noncash interest expense |
(101)
|
247
|
799
|
| Revaluation of contingent consideration to estimated fair value |
(456)
|
(126)
|
(1,239)
|
| Revaluation of warrants and derivative liabilities to estimated fair value |
250
|
0
|
(225)
|
| Non-cash goodwill impairment |
13,021
|
0
|
0
|
| Non-cash income tax benefit in connection with business acquisition |
0
|
0
|
(1,500)
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
1,047
|
320
|
(417)
|
| Inventory |
492
|
(80)
|
(168)
|
| Prepaid and other assets |
999
|
(823)
|
(310)
|
| Accounts payable |
(620)
|
489
|
510
|
| Accrued payroll liabilities |
977
|
682
|
298
|
| Accrued royalties |
21
|
1
|
(2,563)
|
| Accrued and other liabilities |
(105)
|
1,240
|
364
|
| Change in deferred taxes |
(1,340)
|
0
|
0
|
| Net cash used in operating activities |
(16,523)
|
(9,752)
|
(3,350)
|
| Investing activities: |
|
|
|
| Purchase of property and equipment |
(549)
|
(1,199)
|
(733)
|
| Payment for acquisitions, net of cash acquired |
(20,568)
|
0
|
(600)
|
| Net cash used in investing activities |
(21,117)
|
(1,199)
|
(1,333)
|
| Financing activities: |
|
|
|
| Proceeds from initial public offering, net of underwriters’ discount |
0
|
0
|
39,246
|
| Payments of initial public offering costs |
0
|
0
|
(3,733)
|
| Proceeds from subordinated convertible debt, net of issuance costs |
0
|
0
|
4,982
|
| Proceeds from issuance of common stock, net of issuance costs |
7,926
|
0
|
0
|
| Proceeds from debt, net of issuance costs |
0
|
15,625
|
0
|
| Proceeds from private placement and subsequent financing, net of issuance costs |
20,622
|
0
|
0
|
| Proceeds from exercise of stock options |
19
|
46
|
19
|
| Proceeds from issuances of common stock under equity incentive plans |
304
|
203
|
0
|
| Principal payments on debt and capital lease obligations |
(3,944)
|
(11,466)
|
(4,528)
|
| Net cash provided by (used in) financing activities |
24,927
|
4,408
|
35,986
|
| Effect of exchange rate changes on cash and cash equivalents |
83
|
0
|
0
|
| Net (decrease) increase in cash and cash equivalents |
(12,630)
|
(6,543)
|
31,303
|
| Cash and cash equivalents at beginning of period |
29,888
|
36,431
|
5,128
|
| Cash and cash equivalents at end of period |
17,258
|
29,888
|
36,431
|
| Supplemental disclosures of cash information |
|
|
|
| Cash paid for interest |
867
|
1,364
|
1,207
|
| Supplemental disclosures of noncash investing and financing activities |
|
|
|
| Property and equipment purchased under capital leases |
0
|
25
|
193
|
| Common stock issued for acquisition |
7,205
|
0
|
14,242
|
| Debt assumed as part of acquisition |
13,421
|
0
|
0
|
| Deferred purchase consideration |
5,700
|
0
|
0
|
| Conversion of convertible private placement and subsequent financing preferred stock to common stock |
13,064
|
0
|
0
|
| Conversion of convertible preferred stock to common stock upon initial public offering |
0
|
0
|
149,444
|
| Conversion of convertible preferred stock warrants to common stock warrants upon initial public offering |
0
|
0
|
539
|
| Conversion of convertible preferred stock to common stock upon initial public offering |
0
|
0
|
5,108
|
| Issuance of common stock for Board of Director services |
304
|
223
|
34
|
| Common stock warrants issued upon debt financing |
$ 0
|
$ 90
|
$ 0
|