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, 2020
Dec. 31, 2019
Operating activities:    
Net loss $ (37,230) $ (25,469)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,311 632
Right-of-use asset amortization (184) 408
Stock-based compensation 5,090 5,374
Other non-cash transactions (133) (69)
Realized investment gain/loss 471 (1,161)
Deferred tax liability 164 0
Foreign currency re-measurement loss (8) (61)
Changes in operating assets and liabilities:    
Accounts receivable 5,343 (4,055)
Prepaid expenses and other assets (500) (679)
Deferred revenue (14,496) (28,524)
Accounts payable (4,354) 1,257
Accrued expenses and other current liabilities (1,655) (914)
Lease liabilities (715) 794
Net cash used in operating activities (45,896) (52,467)
Investing activities:    
Purchase of property and equipment (2,726) (2,462)
Proceeds from maturities of investments 83,437 63,325
Proceeds from sale of investments 0 8,292
Purchase of investments (41,499) (59,317)
Net cash provided by investing activities 39,212 9,838
Financing activities:    
Proceeds from exercise of options 291 553
Proceeds from employee stock purchase plan 200 369
Proceeds from exercise of warrants 0 246
Issuance of Common and Preferred Stock, net of issuance costs 9,624 30,998
Net cash provided by financing activities 10,115 32,166
Effect of exchange rate change on cash and cash equivalents 4,745 (2,144)
Net increase in cash and cash equivalents 8,176 (12,607)
Cash and cash equivalents at beginning of year 62,260 74,867
Cash and cash equivalents at end of year 70,436 62,260
Supplemental cash flow disclosures:    
Accretion of Series C convertible preferred stock 0 2,830
Net unrealized gain on investments 70 0
Property and equipment included in accounts payable $ 131 $ 1,235