Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (8,823) $ (1,379)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 638 650
Stock-based compensation and preference share liability 6,308 315
Non-cash settlement of preference share liability (2,486)  
Allowance for doubtful accounts 117 60
Employee benefit obligation 89 80
Non-cash interest expense 72 103
Deferred taxes (323) (398)
Change in operating assets and liabilities:    
Trade receivables 1,710 534
Other current assets 1,111 (399)
Other long-term assets (808) (349)
Accounts payable (5,694) (3,690)
Other current liabilities 3,526 402
Deferred revenue 206 6
Long-term liabilities 1,505 434
Net cash used in operating activities (2,852) (3,631)
Cash Flows from Investing Activities:    
Purchase of short-term investments (3,179) (684)
Sale of short-term investments 5,041 2,062
Purchase of property and equipment (89) (291)
Sale of property and equipment 16  
Capitalized software development costs (731)  
Purchase of intangible assets (6) (5)
Net cash provided by investing activities 1,052 1,082
Cash Flows from Financing Activities:    
Change in line of credit 1,721 528
Borrowings on term loans 8,800 696
Repayments on term loans (5,463) (553)
Repurchase of common stock in connection with forward share purchase agreements 2,587  
Payments related to forward share purchase agreements (167)  
Net cash provided by financing activities 2,304 671
Effect of exchange rate changes on cash, cash equivalents and restricted cash (454) (47)
Net increase (decrease) in cash, cash equivalents and restricted cash 50 (1,925)
Cash, cash equivalents and restricted cash, beginning of period [1] 36,997 8,207
Cash, cash equivalents and restricted cash, end of period [1] 37,047 6,282
Supplemental disclosures of cash flow information:    
Cash paid for interest 153 95
Cash paid for income taxes   $ 85
Non-cash financing activities:    
Change in value of forward share purchase agreements 271  
Common stock issued to settle a payable 423  
Note payable issued to settle a payable $ 400  
[1] As of March 31, 2020, includes $16.2 million of cash and cash equivalents and $20.8 million of restricted cash; as of December 31, 2019, includes $16.1 million of cash and cash equivalents and $20.9 million of restricted cash.