Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ (4,431,000) $ 1,225,000 $ 1,798,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of property and equipment 5,795,000 5,399,000 4,894,000
Amortization of intangible assets 1,032,000 187,000 88,000
Impairment of property and equipment 25,000 234,000 0
Stock-based compensation 5,872,000 4,462,000 3,057,000
Loss on disposal of property and equipment   3,000  
Provision for accounts receivable   74,000  
Changes in operating assets and liabilities:      
Accounts receivable and contract asset (3,213,000) 1,953,000 1,383,000
Prepaid expenses and other assets (673,000) (321,000) (192,000)
Accounts payable 354,000 (190,000) (243,000)
Accrued expenses and other current liabilities 2,918,000 575,000 108,000
Deferred revenue 2,143,000 (2,392,000) 2,799,000
Net cash provided by operating activities 9,822,000 11,209,000 13,692,000
Cash flows from investing activities:      
Purchase of property and equipment (7,840,000) (4,059,000) (4,823,000)
Investment in intangible and other assets (59,000) (72,000) (86,000)
Business acquisition, net of cash acquired 15,000 (14,627,000)  
Net cash used in investing activities (7,884,000) (18,758,000) (4,909,000)
Cash flows from financing activities:      
Payment of contingent consideration liability (403,000) (347,000)  
Payment of line of credit costs   (12,000)  
Proceeds from issuance of common stock upon secondary offering     11,247,000
Payments of secondary offering costs     (445,000)
Proceeds from exercise of stock options 898,000 314,000 454,000
Repurchases of common stock (3,601,000) (1,615,000) (6,718,000)
Proceeds from exercise of warrants 8,000   71,000
Proceeds from employee stock purchase plan 832,000 704,000 873,000
Net cash provided by (used in) financing activities (2,266,000) (956,000) 5,482,000
Increase (decrease) in cash, cash equivalents and restricted cash (328,000) (8,505,000) 14,265,000
Effect of exchange rate on cash and cash equivalents (79,000) (2,000) 7,000
Cash, cash equivalents and restricted cash at beginning of year 16,043,000 24,550,000 10,278,000
Cash, cash equivalents and restricted cash at end of year 15,636,000 16,043,000 24,550,000
Supplemental cash flow disclosures:      
Cash paid for income taxes     51,000
Supplemental disclosure of non-cash financing activities:      
Property and equipment purchases included in accounts payable 563,000 522,000 $ 311,000
Estimated fair value of contingent consideration $ 1,330,000 170,000  
Fair value of common stock issued as consideration for business acquisition   $ 2,000,000