Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2022 |
Sep. 30, 2021 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (61,647)
|
$ (26,948)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
2,881
|
2,792
|
| Provision for doubtful accounts |
393
|
477
|
| Provision for inventory obsolescence |
1,487
|
93
|
| Share-based compensation |
10,098
|
7,377
|
| Loss from disposal of property and equipment |
121
|
133
|
| Unrealized foreign currency loss, net |
5,832
|
3,317
|
| Amortization of right-to-use asset |
311
|
305
|
| Loss on extinguishment of debt |
19,019
|
0
|
| Gain from write-off of liability |
(1,866)
|
0
|
| Change in fair value of derivative instruments |
(703)
|
(546)
|
| Non-cash interest expense and amortization of debt discount |
5,356
|
1,512
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(9,883)
|
(6,795)
|
| Inventory |
(8,315)
|
(5,289)
|
| Prepaid expenses and other current assets |
(3,191)
|
(3,320)
|
| Other assets |
(937)
|
204
|
| Accounts payable |
610
|
660
|
| Accrued liabilities |
2,692
|
6,828
|
| Operating lease liabilities |
(251)
|
(309)
|
| Other liabilities |
(157)
|
(314)
|
| Net cash used in operating activities |
(38,150)
|
(19,823)
|
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(1,885)
|
(2,667)
|
| Cash used in asset acquisitions |
(525)
|
(434)
|
| Cost incurred for intangible assets |
(1,209)
|
(447)
|
| Capital expenditures on construction in progress |
(20,744)
|
0
|
| Net cash used in investing activities |
(24,363)
|
(3,548)
|
| Cash flows from financing activities: |
|
|
| Borrowings under Oaktree debt agreement, net of debt discount and issuance costs |
143,593
|
0
|
| Repayment of Madryn debt agreement |
(71,681)
|
0
|
| Repayments on finance leases |
(17)
|
(163)
|
| Proceeds from stock option exercises |
3,388
|
4,096
|
| Tax payments related to shares withheld upon vesting of restricted stock |
(5)
|
(88)
|
| Net cash provided by financing activities |
75,278
|
3,845
|
| Effect of exchange rate changes on cash |
(831)
|
(374)
|
| Net increase (decrease) in cash |
11,934
|
(19,900)
|
| Cash at beginning of period |
53,415
|
84,523
|
| Cash at end of period |
65,349
|
64,623
|
| Supplemental disclosures: |
|
|
| Cash paid for interest |
4,184
|
5,182
|
| Cash paid for income taxes |
1,298
|
429
|
| Supplemental disclosures of non-cash investing and financing activities: |
|
|
| Unpaid balance for property and equipment |
32
|
34
|
| Consideration payable related to asset acquisition |
0
|
412
|
| Cashless option exercise |
$ 0
|
$ 1,640
|