Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities:    
Net loss $ (33,277) $ (45,738)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,770 2,459
Right-of-use asset (accretion) amortization 10 (91)
Stock-based compensation 4,402 5,215
Realized investment gains (376) 0
Other non-cash transactions (91) (30)
Changes in operating assets and liabilities:    
Accounts receivable (2,624) (1,813)
Prepaid expenses and other assets (1,358) (3,154)
Deferred revenue (20,185) 19,555
Accounts payable (4,208) 7,049
Accrued expenses and other current liabilities (4,005) 9,876
Lease liabilities (990) (988)
Net cash used in operating activities (59,932) (7,660)
Investing activities:    
Purchases of property and equipment (1,041) (949)
Proceeds from maturity of investments 28,200 0
Purchases of investments (48,395) 0
Net cash used in investing activities (21,236) (949)
Financing activities:    
Proceeds from exercise of stock options 95 1,024
Proceeds from exercise of warrants 0 837
Proceeds from employee stock purchase plan 197 165
Proceeds from Issuance of Private Placement 0 18,913
Proceeds from issuance of common stock resulting from ATM sales, net of $1.2 million in transaction costs 6,922 38,188
Net cash provided by financing activities 7,214 59,127
Effect of exchange rate change on cash and cash equivalents (5,175) (3,190)
Net increase (decrease) in cash and cash equivalents (79,129) 47,328
Cash and cash equivalents at beginning of period 117,764 70,436
Cash and cash equivalents at end of period 38,635 117,764
Supplemental cash flow disclosures:    
Net unrealized loss on investments (73) 0
Property and equipment included in accounts payable $ 193 $ 237