Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (20,820) $ (9,142)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,780 2,752
Amortization of debt issuance costs 804 520
Loss on debt extinguishment 695 0
Provision for product and service inventories 407 516
Stock-based compensation 925 1,901
Change in fair value of warrant liabilities (1,666) 469
Other 275 750
Changes in assets and liabilities:    
Accounts receivable, net 6,346 6,255
Manufacturing inventories (1,325) (692)
Service parts inventories 1,475 (516)
Prepaid expenses (1,694) (2,287)
Accounts payable 6,828 (5,421)
Accrued restructuring charges 0 110
Accrued compensation (2,123) (816)
Deferred revenue (5,126) (2,929)
Other current assets (551) (487)
Other non-current assets 649 (935)
Other current liabilities 11,017 (954)
Other non-current liabilities 208 1,462
Net cash used in operating activities (1,896) (9,444)
Investing activities    
Purchases of property and equipment (1,620) (2,299)
Net cash used in investing activities (1,620) (2,299)
Financing activities    
Borrowings of long-term debt, net of debt issuance costs 0 12,889
Repayments of long-term debt and payment of amendment fees (13,537) (1,997)
Borrowings of credit facility 105,568 108,186
Repayments of credit facility and payment of amendment fees (96,829) (107,834)
Proceeds from issuance of common stock, net 0 (9)
Net cash provided by (used in) financing activities (4,798) 11,235
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) (2)
Net change in cash, cash equivalents and restricted cash (8,317) (510)
Cash, cash equivalents, and restricted cash at beginning of period 25,860 26,175
Cash, cash equivalents, and restricted cash at end of period 17,543 25,665
Reconciliation of Cash, Cash Equivalents, and Restricted Cash at Carrying Value [Abstract]    
Cash and cash equivalents 17,287 25,465
Restricted cash, current 256 200
Cash and cash equivalents at the end of period 17,543 25,665
Supplemental disclosure of cash flow information    
Cash paid for interest 2,134 2,665
Cash paid for income taxes, net 495 307
Non-cash transactions    
Purchases of property and equipment included in accounts payable 218 977
Paid-in-kind interest 684 191
Transfer of manufacturing inventory to services inventory    
Non-cash transactions    
Transfer of manufacturing inventory 65 (226)
Transfer of manufacturing inventory to property and equipment    
Non-cash transactions    
Transfer of manufacturing inventory $ 0 $ 143