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, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net loss $ (2,725,000) $ (9,980,000) $ (6,860,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,917,000 3,121,000 2,551,000
Impairment of property and equipment 686,000 793,000  
Stock-based compensation 2,468,000 628,000 83,000
Amortization of debt issuance costs   132,000 131,000
Remeasurement of convertible preferred stock warrant liability   3,725,000 524,000
Loss on early extinguishment of debt   479,000  
Loss on disposal of property and equipment 4,000   27,000
Changes in operating assets and liabilities:      
Accounts receivable (11,224,000) (1,518,000) 255,000
Prepaid expenses and other assets (766,000) (247,000) (90,000)
Accounts payable (346,000) 291,000 410,000
Accrued expenses and other current liabilities (246,000) 1,535,000 1,049,000
Deferred revenue 6,846,000 4,428,000 4,177,000
Net cash provided by (used in) operating activities (1,386,000) 3,387,000 2,257,000
Cash flows from investing activities:      
Purchase of property and equipment (8,444,000) (6,430,000) (4,476,000)
Investment in intangible and other assets (48,000) (76,000) (78,000)
Business acquisition (1,711,000)    
Net cash used in investing activities (10,203,000) (6,506,000) (4,554,000)
Cash flows from financing activities:      
Proceeds from initial public offering, net of commissions and discounts   32,426,000  
Proceeds from notes payable   1,500,000 2,000,000
Repayment of notes payable   (13,500,000)  
Payment of debt issuance costs   (30,000) (17,000)
Payment on debt extinguishment costs   (149,000)  
Payments of initial public offering costs   (1,870,000)  
Proceeds from exercise of stock options 550,000 55,000 25,000
Proceeds from exercise of warrants 988,000    
Proceeds from employee stock purchase plan 909,000 319,000  
Net cash provided by financing activities 2,437,000 18,751,000 2,008,000
Increase (decrease) in cash, cash equivalents and restricted cash (9,152,000) 15,632,000 (289,000)
Effect of exchange rate on cash and cash equivalents (167,000) 70,000 30,000
Cash, cash equivalents and restricted cash at beginning of year 19,597,000 3,895,000 4,154,000
Cash, cash equivalents and restricted cash at end of period 10,278,000 19,597,000 3,895,000
Supplemental cash flow disclosures:      
Cash paid for interest   1,235,000 $ 1,186,000
Supplemental disclosure of non-cash financing activities:      
Estimated fair value of contingent consideration 750,000    
Conversion of convertible preferred stock into common stock   42,075,000  
Reclassification of convertible preferred stock warrant liability into additional paid-in capital   5,711,000  
Deferred offering costs included in other assets 249,000    
Issuance of warrants in connection with the issuance of notes payable   $ 111,000  
Line of Credit      
Cash flows from financing activities:      
Payment of debt issuance costs (10,000)    
Supplemental disclosure of non-cash financing activities:      
Deferred offering costs included in other assets $ 91,000