Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
|
Six Months Ended
June 30, | |||||||
| 2022 | 2021 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (12,488 | ) | $ | (10,626 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 929 | 733 | |||||
| Stock-based compensation | 5,693 | 711 | |||||
| Operating non-cash lease expense | 13 | (31 | ) | ||||
| Other, net | (1 | ) | (8 | ) | |||
| Gain on deconsolidation of subsidiary | (149 | ) | — | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | 9,168 | 5,932 | |||||
| Prepaid expenses and other assets | (2,232 | ) | (2,872 | ) | |||
| Accounts payable | (1 | ) | 973 | ||||
| Accrued expenses and other liabilities | (704 | ) | (34 | ) | |||
| Deferred revenue | (1,391 | ) | 3,716 | ||||
| Net cash used in operating activities | (1,163 | ) | (1,506 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (205 | ) | (359 | ) | |||
| Payments relating to investment in equity method investment | (520 | ) | — | ||||
| Net cash used in investing activities | (725 | ) | (359 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business acquisition | (1,573 | ) | — | ||||
| Proceeds from issuance of common stock | — | 5,435 | |||||
| Principal payments under vendor financing arrangements | (407 | ) | (325 | ) | |||
| Proceeds from exercise of stock options | 443 | 298 | |||||
| Payments to tax authorities for shares withheld from employees | (843 | ) | — | ||||
| Payments of deferred offering costs | (256 | ) | (178 | ) | |||
| Payments of principal portion of term loan | — | (300 | ) | ||||
| Net cash (used in) provided by financing activities | (2,636 | ) | 4,930 | ||||
| NET (DECREASE) INCREASE IN CASH | (4,524 | ) | 3,065 | ||||
| CASH, beginning of period | 85,825 | 11,744 | |||||
| CASH, end of period | $ | 81,301 | $ | 14,809 | |||
