(In thousands)
(unaudited)
|
Nine Months Ended
September 30, | |||||||||
| 2021 | 2020 | ||||||||
| CASH FLOW FROM OPERATING ACTIVITIES: | |||||||||
| Net loss | $ | (15,594 | ) | $ | (10,836 | ) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||
| Depreciation and amortization | 1,107 | 658 | |||||||
| Stock-based compensation | 1,144 | 281 | |||||||
| Operating non-cash lease expense | (221 | ) | 380 | ||||||
| Other, net | (8 | ) | 8 | ||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable, net | 6,226 | 2,437 | |||||||
| Prepaid expenses and other assets | (3,932 | ) | (21 | ) | |||||
| Account payable | 415 | 178 | |||||||
| Accrued expenses and other liabilities | 1,328 | 4,109 | |||||||
| Operating lease liabilities | 189 | (374 | ) | ||||||
| Deferred revenue | 5,340 | 2,678 | |||||||
| Net cash used in operating activities | (4,006 | ) | (502 | ) | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
| Purchases of property and equipment | (488 | ) | (523 | ) | |||||
| Net cash used in investing activities | (488 | ) | (523 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
| Proceeds from issuance of common stock | 5,435 | — | |||||||
| Proceeds from PPP Loan | — | 1,603 | |||||||
| Payments of principle portion of Term loan | (450 | ) | (450 | ) | |||||
| Principle payments under vendor financing arrangements | (418 | ) | (321 | ) | |||||
| Proceeds from exercise of stock options | 330 | 112 | |||||||
| Payments of deferred offering costs | (906 | ) | — | ||||||
| Other | — | (5 | ) | ||||||
| Net cash provided by financing activities | 3,991 | 939 | |||||||
| NET DECREASE IN CASH | (503 | ) | (86 | ) | |||||
| CASH, beginning of period | 11,744 | 13,938 | |||||||
| CASH, end of period | $ | 11,241 | $ | 13,852 | |||||
