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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (67,969) $ (47,911) $ (111,186)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities      
Depreciation and amortization 27,206 25,330 27,946
Fair value adjustment on derivative instrument (926) (3,826) 597
Provision for bad debts, net of recoveries 189 401 512
Impairment of capitalized software 3,014 1,197 1,410
Provision for excess and obsolete inventory 2,614 657 538
Share-based compensation expense 17,875 16,649 10,419
Amortization of debt discount and debt issuance costs 2,960 1,495 4,016
Loss on debt conversion and extinguishment, net 450 432 76,354
Gain on sale of Ctrack South Africa 0 (5,262) 0
Deferred income taxes (570) (53) 659
Right-of-use assets 1,268 1,144 1,432
Other 0 286 (765)
Changes in assets and liabilities, net of effects of divestiture:      
Accounts receivable 2,441 (1,148) (10,797)
Inventories (3,065) (12,494) (13,336)
Prepaid expenses and other assets 5,642 (1,988) (3,070)
Accounts payable (26,313) (3,108) 27,087
Accrued expenses, income taxes, and other 3,450 4,448 8,785
Operating lease liabilities (1,555) (1,461) (551)
Net cash (used in) provided by operating activities (33,289) (25,212) 20,050
Cash flows from investing activities:      
Acquisition of noncontrolling interest 0 (116) 0
Purchases of property, plant and equipment (1,481) (4,928) (5,736)
Proceeds from the sale of property, plant and equipment 0 1,338 392
Proceeds from sale of Ctrack South Africa, net of cash divested1 [1] 0 33,689 0
Additions to capitalized software development costs and purchases of intangible assets (11,838) (23,905) (29,369)
Net cash (used in) provided by investing activities (13,319) 6,078 (34,713)
Cash flows from financing activities:      
Gross proceeds received from issuance of Series E preferred stock 0 0 25,000
Gross proceeds from the issuance of 2025 Notes 0 0 100,000
Payment of issuance costs related to 2025 Notes 0 0 (3,645)
Cash paid to investors in private exchange transactions 0 0 (32,062)
Payoff of term loan and related extinguishment costs 0 0 (48,830)
Repurchase of Series E preferred stock 0 0 (2,354)
Proceeds from the exercise of warrants to purchase common stock 0 0 1,861
Net borrowing of bank and overdraft facilities (569) 265 (199)
Principal payments on financed assets (1,567) 0 0
Borrowings on asset-backed revolving credit facility 12,351 0 0
Repayment on asset-backed revolving credit facility (4,500) 0 0
Payments of Financing Costs 1,126 0 0
Principal payments under finance lease obligations (62) (3,200) (2,756)
Proceeds from a public offering, net of issuance costs 0 29,370 0
Proceeds from stock option exercises and ESPP, net of taxes paid on vested restricted stock units 900 3,486 5,066
Net cash provided by financing activities 5,427 29,921 42,081
Effect of exchange rates on cash (1,488) (990) 523
Net (decrease) increase in cash, cash equivalents and restricted cash (42,669) 9,797 27,941
Cash, cash equivalents and restricted cash, beginning of period 49,812 40,015 12,074
Cash, cash equivalents and restricted cash, end of period 7,143 49,812 40,015
Supplemental disclosures of cash flow information:      
Interest 5,535 5,387 3,215
Income taxes 168 523 142
Supplemental disclosures of non-cash activities:      
Transfer of inventories to rental assets 442 5,142 4,036
Purchases of property, plant and equipment under finance leases 0 0 664
Operating right-of-use assets obtained in exchange for lease liabilities 705 658 7,931
Proceeds related to divestiture of Ctrack South Africa in exchange for settlement of tax liabilities 0 421 0
Exchange of Series E Preferred Stock for common stock 0 11,982 0
Issuance of common stock in exchange for Series E Preferred Stock 0 13,086 0
Deemed dividend on exchange of Series E Preferred Stock for common stock 0 1,104 0
Capital expenditures financed through accounts payable or accrued liabilities 2,276 748 5,710
Issuance of common stock under Settlement Agreement 0 0 972
Preferred stock issued in extinguishment of term loan accrued interest 0 0 2,330
Debt discount and issuance costs extinguished in notes conversion 0 0 1,728
2022 Notes conversion to equity 0 0 59,907
Novatel Wireless Notes conversion to equity 0 0 250
2025 Notes issued to extinguish 2022 Notes 0 0 80,375
2025 Notes conversion, including shares issued in satisfaction of interest-make-whole payment $ 0 $ 5,382 $ 14,353
[1] The amount for the year ended December 31, 2021 is net of cash divested of $5.0 million