Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net loss $ (7,652,000) $ (5,136,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 438,000 319,000
Amortization expense - right-of-use assets - operating and finance leases 692,000 759,000
Stock-based compensation 2,169,000 2,063,000
Unrealized loss on investment in equity securities 0 103,000
Changes in operating assets and liabilities:    
Accounts receivable, net 679,000 (1,053,000)
Contract assets 408,000 35,000
Unbilled receivables (3,850,000) (7,000)
Inventories (330,000) (44,000)
Prepaid expenses and other current assets (469,000) (163,000)
Other non-current assets (369,000) 38,000
Accounts payable (246,000) (999,000)
Accrued compensation (1,879,000) 1,196,000
Other accrued liabilities 3,116,000 3,591,000
Other long-term liabilities (624,000) (616,000)
Deferred revenue 6,492,000 (2,937,000)
Net cash used in operating activities (1,425,000) (2,851,000)
Investing activities:    
Purchase of property and equipment (761,000) (445,000)
Net cash used in investing activities (761,000) (445,000)
Financing activities:    
Proceeds from exercises of stock options 39,000.0 776,000
Payments of lease obligations - Finance leases (51,000) (59,000)
Taxes paid related to net share settlement of equity awards (1,007,000) (2,799,000)
Net cash used in financing activities (1,019,000) (2,082,000)
Net decrease in cash, cash equivalents and restricted cash (3,205,000) (5,378,000)
Cash, cash equivalents and restricted cash at the beginning of the period 92,221,000 54,485,000
Cash, cash equivalents and restricted cash at the end of the period 89,016,000 49,107,000
Supplemental disclosure of cash flow information    
Interest paid 4,000 22,000
Purchase of property and equipment recorded in accounts payable and accrued expenses 182,000 142,000
Total cash, cash equivalents and restricted cash at the end of the period $ 89,016,000 $ 49,107,000