XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss $ (23,170) $ (16,292)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance of bad debt (3) 11
Inventory reserve adjustment 1,607 2,588
Depreciation and amortization 4,995 5,329
Amortization of debt issuance costs 315 306
Loss on disposal of assets 1 3
Share-based compensation 2,839 2,290
Unrealized foreign exchange (gain) loss 424 (1,065)
Changes in operating assets and liabilities:    
Accounts receivable, trade (9,402) 4,365
Trade Notes receivable (133) (742)
Inventories 7,291 7,403
Other current assets 1,215 (80)
Operating right of use asset 296 230
Accounts payable (9,253) (9,427)
Accrued liabilities (5,071) (3,815)
Unearned revenue (114) (237)
Lease liability (318) (257)
Net cash used in operating activities (28,481) (9,390)
Investing activities:    
Purchase of property, plant and equipment (5,761) (575)
Proceeds from disposal of equipment 0 65
Deposits and prepaid for equipment (2,190) (160)
Purchase of intangible assets (121) (113)
Net cash used in investing activities (8,072) (783)
Financing activities:    
Principal payments of long-term debt and notes payable (251) 0
Proceeds from line of credit borrowings 7,997 19,482
Repayments of line of credit borrowings (7,027) (25,402)
Proceeds from bank acceptance payable 10,175 18,974
Repayments of bank acceptance payable (14,912) (12,293)
Proceeds from issuance of convertible senior notes, net of debt issuance costs (214) 0
Principal payments of financing lease 0 (5)
Payments of tax withholding on behalf of employees related to share-based compensation (1,011) (75)
Proceeds from common stock offering, net 3,826 407
Net cash (used)/provided by financing activities (1,417) 1,088
Effect of exchange rate changes on cash 278 446
Net decrease in cash, cash equivalents and restricted cash (37,692) (8,639)
Cash, cash equivalents and restricted cash at beginning of period 55,097 35,587
Cash, cash equivalents and restricted cash at end of period 17,405 26,948
Supplemental disclosure of cash flow information:    
Interest, net of amounts capitalized 55 2,304
Non-cash investing and financing activities:    
Net change in accounts payable related to property and equipment additions (622) (20)
Net change in deposits and prepaid for equipment related to property and equipment additions $ 5 $ (93)