Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (17,206) $ (19,898)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,032 1,780
Amortization of debt issuance costs 2,075 804
Noncash lease expense 343 464
Gain (loss) on debt extinguishment (2,559) 695
Provision for product and manufacturing inventories 2,701 407
Stock-based compensation (529) 925
Paid in kind interest 1,758 684
Change in fair value of warrant liabilities 0 (1,666)
Other non-cash 1,201 (409)
Changes in assets and liabilities:    
Accounts receivable, net 4,043 6,346
Manufacturing inventories (783) (1,325)
Service parts inventories 486 1,475
Prepaid expenses (1,024) (1,694)
Operating lease liabilities (283) (87)
Accounts payable (4,484) 6,828
Accrued compensation 1,036 (2,123)
Accrued restructuring charges 993 404
Deferred revenue (7,668) (6,048)
Other current assets 840 98
Other current liabilities 1,137 10,444
Net cash used in operating activities (16,891) (1,896)
Investing activities    
Purchases of property and equipment (1,192) (1,620)
Net cash used in investing activities (1,192) (1,620)
Financing activities    
Borrowings of long-term debt, net of debt issuance costs 0 0
Repayments of long-term debt (909) (13,537)
Borrowings of credit facility 71,625 105,568
Repayments of credit facility (98,682) (96,829)
Proceeds from shares issued related to the SEPA, net 66,993 0
Net cash provided by financing activities 39,027 (4,798)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 (3)
Net change in cash, cash equivalents and restricted cash 20,944 (8,317)
Cash, cash equivalents, and restricted cash at beginning of period 16,603 25,860
Cash, cash equivalents, and restricted cash at end of period 37,547 17,543
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows:    
Cash and cash equivalents 37,404 17,287
Restricted cash, current 143 256
Cash, cash equivalents and restricted cash at the end of period 37,547 17,543
Supplemental disclosure of cash flow information    
Cash paid for interest 2,987 2,134
Cash paid for income taxes, net 141 495
Non-cash transactions    
Purchases of property and equipment included in accounts payable 105  
Purchases of property and equipment included in accounts payable   (135)
Right-of-use assets obtained in exchange for new lease liabilities $ 0 $ 231