XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (3,909) $ (24,051)
Adjustments to reconcile net loss to net cash used in operating activities:    
Recovery of doubtful accounts (39) (772)
Depreciation and amortization 1,812 1,793
Payment-in-kind interest 0 925
Amortization of debt discount 94 719
Amortization of debt issuance costs 123 351
Share-based compensation expense 870 382
Gain on disposal of property and equipment 0 (55)
Change in fair value of convertible senior notes 0 9,047
Change in fair value of preferred stock derivative liability 645 7,375
Changes in operating assets and liabilities:    
Accounts receivable 43,703 23,369
Inventory (1,352) 1,989
Prepaid expenses and other assets (6,540) (5,196)
Accounts payable and payable to Meisheng (related party) (14,717) (8,735)
Accrued expenses (16,475) (11,071)
Reserve for sales returns and allowances (6,910) (2,609)
Income taxes payable 201 (309)
Other liabilities (242) (113)
Total adjustments 1,173 17,090
Net cash used in operating activities (2,736) (6,961)
Cash flows from investing activities    
Purchases of property and equipment (1,817) (1,472)
Proceeds from sale of property and equipment 0 21
Net cash used in investing activities (1,817) (1,451)
Cash flows from financing activities    
Repurchase of common stock for employee tax withholding (644) (164)
Repayment of credit facility borrowings (13,000) 0
Proceeds from credit facility borrowings 13,000 0
Repayment of 2021 BSP Term Loan (248) 0
Net cash used in financing activities (892) (164)
Net decrease in cash, cash equivalents and restricted cash (5,445) (8,576)
Effect of foreign currency translation (662) (58)
Cash, cash equivalents and restricted cash, beginning of period 45,332 92,693
Cash, cash equivalents and restricted cash, end of period 39,225 84,059
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net 220 484
Cash paid for interest $ 1,967 $ 5,118