v3.24.3
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (22,397) $ (5,191)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,567 2,799
Depreciation 0 3
Unrealized loss from short-term investments 12 38
Financing Costs 0 1,328
Fair value change in derivative liability 0 (61)
Change in assets and liabilities:    
Accounts receivable (931) (8,834)
Contract assets and unbilled receivables (61) 2,341
Prepaid and other assets 670 969
Accounts payable (1,319) 709
Accrued and other liabilities 3,321 239
Net cash used in operating activities (18,138) (5,660)
Investing activities    
Net cash used in investing activities 0 0
Financing activities    
Proceeds from issuance of common stock in connection with the at-the-market program and purchase agreement 4,497 5,482
Issuance costs (186) (106)
Share repurchases for the payment of employee taxes (42) 0
Net cash provided by financing activities 4,269 5,376
Net decrease in cash and cash equivalents (13,869) (284)
Cash and cash equivalents at beginning of period 50,501 42,634
Cash and cash equivalents at end of period 36,632 42,350
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 318
Cash paid for interest 0 0
Supplemental non-cash financing transactions:    
Unpaid issuance costs 46 115
Non-cash issuance of common stock in connection with equity purchase agreement 0 1,022
Value of derivative established in connection with the equity purchase agreement $ 0 $ 154

Source

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