Annual report pursuant to Section 13 and 15(d)

Restatement of Consolidated Financial Statements - Cash Flow (Details)

v3.24.1.1.u2
Restatement of Consolidated Financial Statements - Cash Flow (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:          
Net loss $ (4,200) $ (7,853) $ (14,189) $ (24,522) $ (22,370)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization 651 1,470 2,309 3,177 1,915
Amortization of financing costs and discounts 43 51 60 68 35
Amortization of right-of-use assets 151 475 848 1,330 657
Inventory provision 270 420 771 961 791
Provision for warranty expenses 174 364 369 592 646
Stock-based compensation 232 386 617 863 1,245
Bad debt expense (recovery)   75 437 4,277 391
Gain on disposal of equipment   279      
Changes in operating assets and liabilities:          
Accounts receivable 1,597 2,076 3,725 4,060 (3,383)
Inventories 178 (4,631) (7,535) (11,521) (9,105)
Prepaid expenses, other current assets and other assets (253) (874) (933) (1,210) 164
Accounts payable and accrued expenses (2,668) (871) 920 5,660 5,098
Operating lease liability (179) (531) (931) (1,304) (613)
Accrued salaries and wages and long-term liabilities 212 (23) 274 77 (743)
Accrued warranty reserve (130) (185) (312) (499) (5,013)
Deferred revenue (1,200) 5,366 2,472 8,373 3,229
Factory protection plan liability 1,557 1,022 2,678 1,674 1,508
Net cash used in operating activities (3,565) (2,984) (8,420) (7,944) (27,498)
Cash Flows from Investing Activities:          
Expenditures for property, plant, equipment and rental assets (1,887) (2,564) (3,999) (8,222) (9,924)
Net cash used in investing activities (1,887) (2,564) (3,999) (8,222) (9,924)
Cash Flows from Financing Activities:          
Repayment of notes payable and lease obligations (193) (481) (772) (804) (685)
Cash used in employee stock-based transactions (36) (52) (52) (52) (138)
Net proceeds from issuance of common stock and warrants 36 7,302 7,302 7,302 11,271
Net cash provided by financing activities (193) 6,769 6,478 6,446 10,448
Net (decrease) in Cash and Cash Equivalents (5,645) 1,221 (5,941) (9,720) (26,974)
Cash and Cash Equivalents, Beginning of Period 22,559 22,559 22,559 22,559 49,533
Cash and Cash Equivalents, End of Period 16,914 23,780 16,618 12,839 22,559
Bill and Hold          
Cash Flows from Operating Activities:          
Net loss (566) 220 809    
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization (10) (23) (36)    
Provision for sales returns     (81)    
Bad debt expense (recovery)     200    
Changes in operating assets and liabilities:          
Accounts receivable 926 (4,502) (5,481)    
Inventories 924 (278) 1,545    
Accounts payable and accrued expenses 265 265 265    
Deferred revenue (1,662) 3,931 2,122    
Net cash used in operating activities (123) (387) (657)    
Cash Flows from Financing Activities:          
Repayment of notes payable and lease obligations 123 387 657    
Net cash provided by financing activities 123 387 657    
FPP Contracts          
Cash Flows from Operating Activities:          
Net loss (1,575) (1,096) (2,807)    
Changes in operating assets and liabilities:          
Accounts receivable 18 74 129    
Factory protection plan liability 1,557 1,022 2,678    
Previously Reported          
Cash Flows from Operating Activities:          
Net loss (2,059) (6,977) (12,191)    
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization 661 1,493 2,345    
Amortization of financing costs and discounts 43 51 60    
Amortization of right-of-use assets 151 475 848    
Inventory provision 270 420 771    
Provision for warranty expenses 174 364 369    
Provision for sales returns     81    
Stock-based compensation 232 386 617    
Bad debt expense (recovery)   75 237    
Gain on disposal of equipment   279      
Changes in operating assets and liabilities:          
Accounts receivable 653 6,504 9,077    
Inventories (746) (4,353) (9,080)    
Prepaid expenses, other current assets and other assets (253) (874) (933)    
Accounts payable and accrued expenses (3,112) (1,667) (276)    
Accrued salaries and wages and long-term liabilities 212 (23) 274    
Accrued warranty reserve (130) (185) (312)    
Deferred revenue 462 1,435 350    
Net cash used in operating activities (3,442) (2,597) (7,763)    
Cash Flows from Investing Activities:          
Expenditures for property, plant, equipment and rental assets (1,887) (2,564) (3,999)    
Net cash used in investing activities (1,887) (2,564) (3,999)    
Cash Flows from Financing Activities:          
Repayment of notes payable and lease obligations (316) (868) (1,429)    
Cash used in employee stock-based transactions (36) (52) (52)    
Net proceeds from issuance of common stock and warrants 36 7,302 7,302    
Net cash provided by financing activities (316) 6,382 5,821    
Net (decrease) in Cash and Cash Equivalents (5,645) 1,221 (5,941)    
Cash and Cash Equivalents, Beginning of Period 22,559 22,559 22,559 $ 22,559  
Cash and Cash Equivalents, End of Period 16,914 23,780 16,618   $ 22,559
Classifications          
Changes in operating assets and liabilities:          
Accounts payable and accrued expenses 179 531 931    
Operating lease liability $ (179) $ (531) $ (931)