|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Operating activities |
|
|
|
| Net income (loss) |
$ 3,503 |
$ (3,723) |
$ (3,885) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |
|
|
|
| Depreciation expense |
2,201 |
1,714 |
1,615 |
| Amortization of intangible assets |
319 |
271 |
139 |
| Provision for doubtful accounts |
159 |
184 |
283 |
| Loss (gain) on inventory purchase commitment |
(380) |
1,840 |
|
| Loss on disposal of property and equipment |
|
107 |
|
| Stock-based compensation |
3,760 |
2,869 |
2,013 |
| Warrant liability expense |
709 |
254 |
(227) |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
(2,104) |
(2,600) |
(2,645) |
| Inventories |
(2,723) |
(4,858) |
2,323 |
| Prepaid expenses and other current assets |
111 |
(352) |
396 |
| Other assets |
(233) |
(823) |
155 |
| Accounts payable |
(1,221) |
4,622 |
(975) |
| Accrued liabilities |
620 |
2,117 |
882 |
| Deferred revenue |
102 |
(10) |
(95) |
| Other long-term liabilities |
(1,155) |
(621) |
(565) |
| Net cash (used in) provided by operating activities |
3,668 |
991 |
(586) |
| Investing activities |
|
|
|
| Purchases of property and equipment |
(3,470) |
(2,360) |
(1,264) |
| Business acquisition |
(147) |
|
(725) |
| Net cash used in investing activities |
(3,617) |
(2,360) |
(1,989) |
| Financing activities |
|
|
|
| Net proceeds from issuance of redeemable convertible preferred stock and common stock warrants |
|
|
19,789 |
| Proceeds from issuance of common stock, net of issuance costs |
65,556 |
|
|
| Proceeds from exercise of options for common stock |
446 |
785 |
1,204 |
| Net repayment of revolving line of credit |
|
|
(6,314) |
| Proceeds from notes payable |
1,145 |
1,876 |
1,064 |
| Repayment of notes payable |
(1,338) |
(1,037) |
(744) |
| Net cash provided by financing activities |
65,809 |
1,624 |
14,999 |
| Effect of exchange rate changes on cash and cash equivalents |
(9) |
(28) |
(10) |
| Net increase in cash and cash equivalents |
65,851 |
227 |
12,414 |
| Cash and cash equivalents at beginning of period |
18,695 |
18,468 |
6,054 |
| Cash and cash equivalents at end of period |
84,546 |
18,695 |
18,468 |
| Supplemental disclosure of cash flow information |
|
|
|
| Cash paid for interest |
461 |
278 |
396 |
| Cash paid for taxes |
153 |
26 |
|
| Supplemental schedule of non-cash investing and financing activities |
|
|
|
| Options for common stock granted in connection with a business acquisition |
174 |
|
|
| Elimination of liability upon net exercise of warrants to purchase preferred stock |
1,310 |
|
|
| Conversion of redeemable convertible preferred stock to common stock |
$ 116,313 |
|
|