Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net loss $ (4,234) $ (10,192)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 1,594 1,652
Stock-based compensation 4,318 3,221
Change in fair value of warrant liabilities (3,478) (566)
Gain on lease modification (47) 0
Realized loss from sales of short-term investments 0 81
Realized foreign exchange loss 3 5
Accretion of interest income on held-to-maturity securities (1,481) (1,386)
Deferred tax benefit (84) (196)
Bad debt expense 31 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (416) (1,621)
Accounts receivable (2,609) (5,585)
Other non-current assets (44) (42)
Operating right-of-use assets/lease liabilities (27) 77
Accounts payable and accrued expenses (10,237) (3,383)
Deferred revenue 1,160 1,080
Net cash used in operating activities (15,551) (16,855)
Cash Flows From Investing Activities:    
Capitalized software development costs (311) 0
Purchase of property and equipment (816) (646)
Purchase of short-term investments 0 (121)
Proceeds from sales of short-term investments 0 16,000
Purchase of held-to-maturity investments (77,051) (130,145)
Proceeds from maturities of held-to-maturity investments 102,740 131,187
Net cash provided by investing activities 24,562 16,275
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 91 54
Taxes paid related to net share settlement of equity awards (37) (81)
Net cash provided by / (used in) financing activities 54 (27)
Effect of foreign exchange rate changes on cash balances (26) 3
Net increase (decrease) in cash and cash equivalents and restricted cash 9,039 (604)
Cash and cash equivalents and restricted cash - beginning 29,021 44,423
Cash and cash equivalents and restricted cash - ending 38,060 43,819
Reconciliation to the unaudited interim condensed consolidated balance sheets    
Cash and cash equivalents 36,758 41,739
Restricted cash 1,302 2,080
Total cash, cash equivalents and restricted cash 38,060 43,819
Non-cash investing and financing activities:    
New leases under ASC 842 entered into during the period 2,581 7,166
Common stock issued for settlement of earn-out [1] 3,022 1,785
Purchases of PPE in accounts payable and accrued expenses $ 285 $ 0
[1] Prior year amounts have been updated to conform to current period presentation.