Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2021 |
Mar. 31, 2020 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net loss |
$ (4,997)
|
$ (2,409)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation of property and equipment |
435
|
391
|
| Stock-based compensation |
3,498
|
749
|
| Fair value measurement of PSARs liability |
215
|
0
|
| Gain from settlement of convertible promissory note |
(700)
|
0
|
| Amortization of other intangible assets |
293
|
250
|
| Deferred income taxes |
(12)
|
76
|
| Increase in inventory reserve |
13
|
1
|
| Other |
36
|
81
|
| Changes in operating assets and liabilities: |
|
|
| Receivables, net |
(543)
|
384
|
| Inventories, net |
(171)
|
1,198
|
| Contract assets |
(151)
|
416
|
| Prepaid expenses and other assets |
(6,383)
|
2,002
|
| Trademarks and trade name |
(150)
|
(125)
|
| Account payable |
245
|
(1,038)
|
| Accrued salaries, wages, and employee benefits |
(2,738)
|
(2,709)
|
| Deferred revenues |
(1,813)
|
(10,426)
|
| Other liabilities and accrued expenses |
(1,380)
|
(96)
|
| Net cash used in operating activities |
(14,303)
|
(11,255)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchases of property and equipment |
(1,111)
|
(413)
|
| Acquisition of TLA Acquisition Corp, net of cash acquired |
(24,830)
|
0
|
| Net cash used in investing activities |
(25,941)
|
(413)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Repayment of long-term debt |
(835)
|
(775)
|
| Repayment of convertible notes |
(2,800)
|
0
|
| Net contribution from the Merger and PIPE Financing |
100,698
|
0
|
| Net cash provided by (used in) financing activities |
97,063
|
(775)
|
| Net increase (decrease) in cash and cash equivalents and restricted cash |
56,819
|
(12,443)
|
| Balance, beginning of year |
15,560
|
28,707
|
| Balance, end of period |
72,379
|
16,264
|
| Cash and cash equivalents and restricted cash consist of: |
|
|
| Total |
72,379
|
16,264
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for income taxes |
888
|
109
|
| Cash paid for interest |
3,453
|
3,606
|
| Conversion of convertible notes into common stock |
2,730
|
0
|
| Reclassification of stock receivable to treasury stock upon settlement |
$ 4,445
|
$ 0
|