v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net loss $ (9,947,000) $ (10,510,000)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization expense 448,000 296,000
Non-cash interest 315,000 379,000
Stock-based compensation 371,000 328,000
Provision for bad debt expense 0 958,000
Gain on forgiveness of PPP Loan (1,775,000) 0
Changes in operating assets and liabilities:    
Accounts receivable 783,000 1,261,000
Inventory (961,000) (635,000)
Prepaid expenses and other current assets (1,049,000) 53,000
Accounts payable (1,045,000) 477,000
Accrued expenses and contract liabilities (1,044,000) (639,000)
Net cash used in operating activities (13,904,000) (8,032,000)
Investing Activities:    
Purchases of property and equipment (24,000) 0
Net cash used in investing activities (24,000) 0
Financing activities:    
Repayment of term-loan debt 0 (2,100,000)
Proceeds from borrowing from line of credit 0 761,000
Repayments of borrowing from line of credit 0 (2,156,000)
Proceeds from sale of common stock 328,635,000 0
Offering expenses on sale of common stock (825,000) 0
Proceeds from warrant and option exercises 9,726,000 2,360,000
Net cash provided by (used in) financing activities 337,536,000 (1,135,000)
Net increase in cash and cash equivalents 323,608,000 (9,167,000)
Cash and cash equivalents at beginning of period 38,449,000 17,311,000
Cash and cash equivalents at end of period 362,057,000 8,144,000
Supplemental cash flow disclosures:    
Cash paid for interest 287,000 382,000
Supplemental disclosure of non-cash investing and financing activities:    
Transfer of instruments and servers from property and equipment into inventory 126,000 0
Transfer of instruments and servers from inventory to property and equipment 1,366,000 467,000
Offering costs in accounts payable 324,000 0
Warrant exercise pursuant to cashless exercise $ 129,000 $ 0