Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (16,951) $ (2,681)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,269 1,307
Stock-based compensation, preference share and unpaid bonuses 11,133 451
Non-cash settlement of preference share liability (2,486)  
Allowance for doubtful accounts 44 1
Employee benefit obligation 253 146
Non-cash interest expense, net 117 275
Deferred taxes (636) (488)
Change in operating assets and liabilities:    
Trade receivables 793 (5,747)
Other current assets 1,938 (597)
Other long-term assets (448) (299)
Accounts payable (5,375) 5,405
Other current liabilities 5,059 334
Deferred revenue 171 47
Long-term liabilities 698 374
Net cash used in operating activities (4,421) (1,472)
Cash Flows from Investing Activities:    
Purchase of short-term investments (4,920) (2,912)
Sale of short-term investments 5,041 2,493
Purchase of property and equipment (494) (694)
Sale of property and equipment 16  
Capitalized software development costs (1,371)  
Purchase of intangible assets (6) (8)
Net cash used in investing activities (1,734) (1,121)
Cash Flows from Financing Activities:    
Change in line of credit 1,353 (376)
Borrowings on term loans 8,800 4,970
Repayments on term loans (5,741) (1,506)
Repayments on notes payable (5,478)  
Repurchase of common stock in connection with forward share purchase agreements (24,218)  
Payments related to forward share purchase agreements (620)  
Proceeds from issuance of stock in public offering, net of issuance costs 32,680  
Net cash provided by financing activities 6,776 3,088
Effect of exchange rate changes on cash, cash equivalents and restricted cash (370) 32
Net increase in cash, cash equivalents and restricted cash 251 527
Cash, cash equivalents and restricted cash, beginning of period [1] 36,997 8,207
Cash, cash equivalents and restricted cash, end of period [1] 37,248 8,734
Supplemental disclosures of cash flow information:    
Cash paid for interest 448 188
Cash paid for income taxes   $ 432
Non-cash financing activities:    
Change in value of forward share purchase agreements (1,671)  
Common stock issued to settle a payable 3,123  
Issuance costs for public offering included in accounts payable 683  
Note payable issued to settle a payable $ 3,100  
[1] As of June 30, 2020, includes $37.2 million of cash and cash equivalents and $27,000 of restricted cash; as of December 31, 2019, includes $16.1 million of cash and cash equivalents and $20.9 million of restricted cash.