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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (47,911) $ (111,186) $ (40,110)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 25,330 27,946 18,426
Fair value adjustment on derivative instrument (3,826) 597 0
Provision for bad debts, net of recoveries 401 512 715
Impairment of capitalized software 1,197 1,410 0
Provision for excess and obsolete inventory 657 538 980
Share-based compensation expense 16,649 10,419 7,302
Amortization of debt discount and debt issuance costs 1,495 4,016 9,772
Loss on debt conversion and extinguishment, net 432 76,354 0
Gain on sale of Ctrack South Africa (5,262) 0 0
Deferred income taxes (53) 659 (598)
Other 286 667 840
Changes in assets and liabilities, net of effects of divestiture:      
Accounts receivable (1,148) (10,797) 377
Inventories (12,494) (13,336) (3,077)
Prepaid expenses and other assets (844) (3,070) (901)
Accounts payable (3,108) 27,087 (12,996)
Accrued expenses, income taxes, and other 2,987 8,234 1,271
Net cash (used in) provided by operating activities (25,212) 20,050 (17,999)
Cash flows from investing activities:      
Acquisition of noncontrolling interest (116) 0 0
Purchases of property, plant and equipment (4,928) (5,736) (6,621)
Proceeds from the sale of property, plant and equipment 1,338 392 517
Proceeds from sale of Ctrack South Africa, net of cash divested1 [1] 33,689 0 0
Additions to capitalized software development costs and purchases of intangible assets (23,905) (29,369) (22,109)
Net cash provided by (used in) investing activities 6,078 (34,713) (28,213)
Cash flows from financing activities:      
Gross proceeds received from issuance of Series E preferred stock 0 25,000 10,000
Gross proceeds from the issuance of 2025 Notes 0 100,000 0
Payment of issuance costs related to 2025 Notes 0 (3,645) 0
Cash paid to investors in private exchange transactions 0 (32,062) 0
Payoff of term loan and related extinguishment costs 0 (48,830) 0
Repurchase of Series E preferred stock 0 (2,354) 0
Proceeds from the exercise of warrants to purchase common stock 0 1,861 17,542
Net borrowing of bank and overdraft facilities 265 (199) (1,047)
Principal payments under finance lease obligations (3,200) (2,756) (1,022)
Proceeds from a public offering, net of issuance costs 29,370 0 0
Proceeds from stock option exercises and employee stock purchase plan, net of taxes paid on vested restricted stock units 3,486 5,066 1,996
Net cash provided by financing activities 29,921 42,081 27,469
Effect of exchange rates on cash (990) 523 (259)
Net increase (decrease) in cash, cash equivalents and restricted cash 9,797 27,941 (19,002)
Cash, cash equivalents and restricted cash, beginning of period 40,015 12,074 31,076
Cash, cash equivalents and restricted cash, end of period 49,812 40,015 12,074
Supplemental disclosures of cash flow information:      
Interest 5,387 3,215 9,296
Income taxes 523 142 939
Supplemental disclosures of non-cash activities:      
Transfer of inventories to rental assets 5,142 4,036 3,748
Purchases of property, plant and equipment under capital lease 0 664 1,341
Right-of-use assets obtained in exchange for operating leases liabilities 658 7,931 4,694
Proceeds related to divestiture of Ctrack South Africa in exchange for settlement of tax liabilities 421 0 0
Exchange of Series E Preferred Stock for common stock 11,982 0 0
Issuance of common stock in exchange for Series E Preferred Stock 13,086 0 0
Deemed dividend on exchange of Series E Preferred Stock for common stock 1,104 0 0
Capital expenditures financed through accounts payable or accrued liabilities 748 5,710 2,926
Issuance of common stock under Settlement Agreement 0 972 1,439
Preferred stock issued in extinguishment of term loan accrued interest 0 2,330 0
Debt discount and issuance costs extinguished in notes conversion 0 1,728 0
2022 Notes conversion to equity 0 59,907 0
Novatel Wireless Notes conversion to equity 0 250 0
2025 Notes issued to extinguish 2022 Notes 0 80,375 0
2025 Notes conversion, including shares issued in satisfaction of interest-make-whole payment $ 5,382 $ 14,353 $ 0
[1] The amount for the year ended December 31, 2021 is net of cash divested of $5.0 million