Quarterly report pursuant to Section 13 or 15(d)


$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows used in operating activities:    
Net loss $ (3,806) $ (10,715)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,416 1,000
Common stock contribution to 401(k) 20 506
Depreciation and amortization 8 147
Amortization of debt issuance costs, debt discount and final payment on debt   286
Loss on extinguishment of debt   515
Unrealized loss on foreign currency exchange   261
Gain on sale of equipment   (1,314)
Other (21) 55
Changes in assets and liabilities:    
Trade and other receivables (39) 33
Prepaid expenses and other current assets 53 345
Accounts payable and accrued liabilities (1,593) (5,281)
Accrued interest on long-term debt 138 (76)
Unearned revenue recognized under units-of-revenue method (62) (110)
Income tax payable 29  
Other liabilities 18  
Net cash used in operating activities (3,839) (14,348)
Cash flows from investing activities:    
Proceeds from sale of property and equipment   813
Net cash provided by investing activities   813
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs   20,072
Proceeds from issuance of common stock, net of issuance costs 2,309 5,380
Proceeds from exercise of options 14  
Principal payments – debt   (16,380)
Payment of final fee related to loan extinguishment   (1,150)
Principal payments – capital lease (4) (51)
Taxes paid related to net share settlement of equity awards (3)  
Net cash provided by financing activities 2,316 7,871
Effect of exchange rate changes on cash 20 (33)
Net decrease in cash and cash equivalents (1,503) (5,697)
Cash and cash equivalents at the beginning of the period 43,471 [1] 25,742
Cash and cash equivalents at the end of the period 41,968 20,045
Supplemental Cash Flow Information:    
Cash paid for interest   396
Non-cash investing and financing activities:    
Prepaid financing cost related to issuance of common stock $ 100  
Other receivable related to sale of equipment   $ 811
[1] The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.