Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (10,793) $ (31,988)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing costs 697 259
Gain on change in fair value of warrant liability (256) (2,469)
Gain on sale of digital assets (5,310) (194)
Impairment of digital assets 50 21,511
Impairment of goodwill 1,203 0
Stock-based compensation 2,824 1,270
Other adjustments 1,180 478
Changes in operating assets and liabilities:    
Accounts receivable 57 178
Inventory 417 (892)
Prepaid expenses and other assets 444 (631)
Accounts payable 651 920
Accrued expenses (997) (386)
Lease liability payments (691) (347)
Deferred revenue (2,036) (2,698)
Net cash used in operating activities (12,560) (14,989)
Investing activities    
Proceeds received from sale of digital assets 15,390 0
Purchase of digital assets 0 (923)
Acquisition payment 0 (1,125)
Capital expenditures (9) (158)
Net cash provided by (used in) investing activities 15,381 (2,206)
Financing activities    
Payments on borrowings (4,270) (3,132)
Proceeds from sales of common stock, net of issuance costs 995 0
Proceeds from exercise of options to purchase common stock 58 16
Payment for stock repurchase (502) 0
Net cash used in financing activities (3,719) (3,116)
Effect of exchange rate on cash 48 (121)
Net decrease in cash (850) (20,432)
Cash at the beginning of the period 1,955 23,137
Cash at the end of the period 1,105 2,705
Supplemental disclosure of cash flow information:    
Interest paid 438 408
Income taxes paid 0 0
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease obligations 0 1,508
Non-cash exchange of digital assets 557 923
Issuance of common stock in connection with acquisition of Lyte Technology, Inc. 0 1,125
Issuance of common stock under the 2018 Employee Stock Purchase Plan previously accrued 47 116
Issuance of common stock for payment of bonuses previously accrued $ 347 $ 0