XML 22 R7.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2024
Jun. 30, 2024
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:          
Net loss $ 1,996 $ (6,326) $ 2,410 $ (7,198) $ (82,817)
Adjustments to reconcile net loss to net cash used in operating activities:          
Non-cash lease expense 199 362 561 765 824
Depreciation and amortization 367 564 778 997 746
Stock-based compensation 552 1,357 2,217 3,056 8,357
Provision for uncollectible accounts     1,065 1,418 12,675
Unrealized exchange gain (loss) 314 373 (29) 594 (180)
Provision for inventory 209 369 1,052 2,228 1,399
Change in fair value of warrant liabilities (3,131) (4,507) (14,210) (17,024) (8,364)
Change in fair value of derivative liabilities 62 (1,895) (1,895) (1,895) 1,730
Change in fair value of debt   (8,070) (16,000) (18,090) 3,751
Change in fair value of Revenue Interest Financing and PIPE Conversion Option 2,100 8,094 7,598 4,771 4,402
Changes in fair value of earn-out liabilities (14,190) (19,880) (22,140) (22,900) (29,050)
Interest paid on debt recorded at fair value   (1,054) (2,458) (3,098) (1,092)
Non-cash interest expense 315 1,464 1,464 1,464 2,083
Non-cash termination of convertible note side letters         16,098
Loss on extinguishment of debt   8,713 8,713 8,713 3,929
Non-cash issuance of common stock for commitment shares         123
Debt issuance costs associated with debt recorded at fair value   1,357 1,357 1,357 1,210
Issuance costs associated with warrants recorded at fair value     942 942  
Changes in operating assets and liabilities:          
Accounts receivable 1,673 4,412 7,199 8,977 (1,318)
Inventory 330 1,014 551 543 (3,705)
Prepaid expenses, other current and long-term assets 244 718 747 913 285
Lease liabilities (238) (411) (593) (836) (789)
Accounts payable 1,551 (2,504) (578) (3,924) 4,664
Accrued expenses and other current liabilities (989) (1,713) (7,777) (4,073) 1,057
Net cash used in operating activities (8,636) (17,563) (29,026) (42,300) (63,982)
Investing Activities:          
Purchases of property and equipment (104) (539) (611) (611) (1,606)
Net cash used in investing activities (104) (539) (611) (611) (1,606)
Financing Activities:          
Proceeds from issuance of convertible notes - net   48,000 48,000 48,000 28,700
Proceeds from Private Placement, net of issuance costs     2,685 2,592  
Proceeds from Public Offering, net of issuance costs     18,249 17,660  
Proceeds from term loan - net         59,780
Payment of debt issuance costs   (1,357) (1,357) (1,357) (3,450)
Proceeds from Business Combination, net of transaction costs         61,652
Proceeds from revenue interest financing         40,000
Repayment of promissory note assumed in Business Combination         (2,500)
Proceeds from option and warrant exercises 9 26 26 26 213
Repayment of convertible notes         (10,750)
Proceeds from equity line financing 378 378 378 1,007  
Net cash provided by (used in) financing activities 387 (673) 20,261 20,208 95,986
Net increase (decrease) in cash and cash equivalents and restricted cash (8,353) (18,775) (9,376) (22,703) 30,398
Cash and cash equivalents and restricted cash at beginning of period 38,421 38,421 38,421 38,421 8,023
Cash and cash equivalents and restricted cash at end of period 30,068 19,646 29,045 15,718 38,421
Supplemental disclosure of cash flow information          
Cash paid for interest 1,831 2,672 2,672 2,672 8,035
Supplemental cash flow information on non-cash investing and financing activities          
Purchase of property and equipment included in accounts payable 73 31     134
Deferred financing costs in accounts payable and accrued expenses   1,207 1,004 323 580
Recognition of assumed warrant liability         13,762
Recognition of earn-out liabilities         53,040
Issuance of common stock upon conversion of convertible notes         25,569
Change in fair value of RTW Convertible Notes through OCI   80 (2,990) (4,700)  
Change in fair value of Revenue Interest Financing through OCI $ 2,200 5,200 (600) (4,370) 700
Conversion of Series A Preferred Stock into Common Stock       (979)  
Exercise of PIPE Conversion Option       (547)  
2021 Term Loan          
Financing Activities:          
Repayment of Term Loan         (57,659)
Fortress Term Loan          
Financing Activities:          
Repayment of Term Loan   $ (47,720) $ (47,720) $ (47,720) $ (20,000)