Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating activities:    
Net loss $ (17,647) $ (22,799)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 369 361
Stock-based compensation 3,046 1,905
Other non-cash transactions 293 49
Foreign currency re-measurement loss/(gain) (156) 0
Changes in operating assets and liabilities:    
Accounts receivable (14,469) (59)
Prepaid expenses and other assets 1,900 (1,020)
Deferred revenue 74,378 3,752
Accounts payable (332) 1,360
Accrued expenses and other current liabilities 2,060 2,063
Net cash provided by (used in) operating activities 49,754 (14,388)
Investing activities:    
Purchase of property and equipment (1,950) (560)
Purchase of investments (43,925) 0
Net cash used in investing activities (45,875) (560)
Financing activities:    
Proceeds from exercise of options 781 0
Proceeds from exercise of warrants 3,309 0
Issuance of Common and Preferred Stock, net of issuance costs 0 15,221
Net cash provided by financing activities 4,090 15,221
Effect of exchange rate change on cash and cash equivalents 553 (267)
Net increase in cash and cash equivalents 8,522 6
Cash and cash equivalents at beginning of year 29,356 29,350
Cash and cash equivalents at end of year 37,878 29,356
Supplemental cash flow disclosures:    
Cash paid for income taxes 0 162
Net unrealized loss on investments 820 0
Property and equipment included in accounts payable $ 114 $ 22