v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (20,710) $ (16,202)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,335 1,268
Provision for credit losses 1,726 275
Provision for inventory obsolescence 650 562
Share-based compensation 2,434 3,444
Loss/(gain) from disposal of property and equipment 436 6
Unrealized foreign currency (gain)/ loss, net (3,510) 2,039
Amortization of right-to-use asset 231 145
Stock compensation in lieu of cash fees 110 110
Interest capitalized for construction in progress 0 (537)
Non-cash interest expense and amortization of debt discount 763 3,447
Changes in operating assets and liabilities:    
Accounts receivable 775 (4,608)
Inventory (10,182) 5,001
Prepaid expenses and other current assets 176 1,790
Other assets 34 (323)
Accounts payable 1,354 (10,097)
Accrued liabilities 4,038 2,846
Operating lease liabilities (227) (142)
Other liabilities (1,158) (176)
Net cash used in operating activities (20,725) (11,152)
Cash flows from investing activities:    
Purchases of property and equipment (753) (3,312)
Cash used in business acquisitions, net of cash acquired (307) 0
Cost incurred for intangible assets (276) (1,879)
Capital expenditures on construction in progress 0 (1,435)
Net cash used in investing activities (1,336) (6,626)
Cash flows from financing activities:    
Issuance of common shares, net of underwriters’ discount and issuance costs 0 49,736
Proceeds from stock option exercises 79 1,426
Tax payments related to shares withheld upon vesting of restricted stock (282) (119)
Net cash provided by (used in) financing activities (203) 51,043
Effect of exchange rate changes on cash and cash equivalents 1,095 (320)
Net increase (decrease) in cash and cash equivalents (21,169) 32,945
Cash and cash equivalents at beginning of period 90,347 40,035
Cash and cash equivalents at end of period 69,178 72,980
Supplemental disclosures:    
Cash paid for interest 5,142 1,466
Cash paid for income taxes 79 676
Supplemental disclosures of non-cash investing and financing activities:    
Unpaid balance for property and equipment 76 1,309
Unpaid balance for intangible assets 377 2,936
Equity consideration in a business acquisition 2,437 0
Contingent consideration payable related to a business acquisition 182 0
Consideration payable related to business acquisition 1,142 0
Issuance of common shares to settle contract termination $ 1,320 $ 0