v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (22,403) $ (18,550)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 3,188 1,650
Depreciation and amortization 2,053 856
Amortization of deferred costs 0 402
Non-cash operating lease expense 2,571 506
Changes in operating assets and liabilities:    
Accounts receivable (473) (444)
Inventories (797) (3)
Deferred costs (380) (1,304)
Prepaid expenses and other current assets (185) 915
Other assets (12) (9)
Accounts payable 2,061 (305)
Accrued and other current liabilities (2,518) 3,903
Deferred revenue (283) 761
Operating lease liabilities (560) (453)
Net cash used in operating activities (17,738) (12,075)
Cash flows from investing activities:    
Purchase of property, plant and equipment (5,501) (2,868)
Net cash used in investing activities (5,501) (2,868)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock warrants 14,384 1
Payment of equity financing costs (216) (254)
Proceeds from exercise of stock options 96 3
Net cash provided by financing activities 25,125 10,257
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents 1,886 (4,686)
Cash, cash equivalents and restricted cash equivalents, beginning of period 45,817 69,752
Cash, cash equivalents and restricted cash equivalents, end of period 47,703 65,066
Reconciliation of cash, cash equivalents and restricted cash equivalents shown on the condensed consolidated balance sheets:    
Cash and cash equivalents 46,447 65,010
Restricted cash equivalents included in other assets 1,256 56
Total cash, cash equivalents and restricted cash equivalents 47,703 65,066
At Market Issuance Sales Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 10,861 0
Stock Purchase Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 0 $ 10,507

Source