(In thousands)
(unaudited)
|
Three Months Ended
March 31, | |||||||
| 2022 | 2021 | ||||||
| CASH FLOW FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (6,820 | ) | $ | (6,717 | ) | |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||||||
| Depreciation and amortization | 401 | 369 | |||||
| Stock-based compensation | 2,309 | 333 | |||||
| Operating non-cash lease expense | 25 | (3 | ) | ||||
| Other, net | — | (8 | ) | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | 5,674 | 6,084 | |||||
| Prepaid expenses and other assets | (1,447 | ) | (762 | ) | |||
| Account payable | (434 | ) | 666 | ||||
| Accrued expenses and other liabilities | (1,370 | ) | (1,237 | ) | |||
| Deferred revenue | 301 | 1,791 | |||||
| Net cash (used in) provided by operating activities | (1,361 | ) | 516 | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (92 | ) | (39 | ) | |||
| Payments of deferred transaction costs relating to investment in Transchip | (191 | ) | — | ||||
| Net cash used in investing activities | (283 | ) | (39 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business acquisition | (1,573 | ) | — | ||||
| Principle payments under vendor financing arrangements | (205 | ) | (138 | ) | |||
| Proceeds from exercise of stock options | 90 | 184 | |||||
| Payments of deferred offering costs | (257 | ) | (94 | ) | |||
| Payments of principle portion of Term loan | — | (150 | ) | ||||
| Other | — | (2 | ) | ||||
| Net cash used in financing activities | (1,945 | ) | (200 | ) | |||
| NET DECREASE IN CASH | (3,589 | ) | 277 | ||||
| CASH, beginning of period | 85,825 | 11,744 | |||||
| CASH, end of period | $ | 82,236 | $ | 12,021 | |||
