7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 
      
    		                                             
      cash flows from operating activities:
    		                                             
      net income
    		-6,334,000 -9,056,000 -301,249,000 11,362,000 -12,970,000 16,818,000 -1,835,000 -519,000 -13,073,000 -15,423,000 -16,796,000 -9,609,000 -29,595,000 -24,050,000 -19,484,000 -16,353,000 -7,822,000 -6,669,000 -6,250,000 -6,189,000 -6,753,000 -5,698,000 -3,169,000 -956,000 -2,289,000 -5,318,000 -6,002,000 -14,108,000 -6,532,000 -6,958,000 -6,842,000 -1,683,000 -3,088,000 -5,472,000 -9,078,000 -5,742,000 -3,097,000 -1,387,000 -1,797,000 1,638,000 -2,523,000 -2,742,000 -2,790,000 -2,717,000 -2,411,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                             
      depreciation
    		5,392,000 5,796,000 5,793,000 5,433,000 5,321,000 5,986,000 5,786,000 4,561,000 4,550,000 3,503,000 2,704,000 2,530,000 2,531,000 2,033,000 2,128,000 2,584,000 2,114,000 2,104,000 2,638,000 2,528,000                          
      accretion of interest on convertible note - related party
    		   0 1,463,000 2,810,000 2,810,000 2,682,000    1,007,000 1,734,000 1,550,000 819,000                               
      amortization of debt issuance costs
    		951,000 882,000 730,000             0 11,000 4,000 3,000 3,000 4,000                         
      amortization of debt discount due to modification of convertible note – related party
    		   0 0 224,000 219,000 213,000 206,000 203,000 266,000                                   
      loss on extinguishment of debt
    		   0                                          
      deferred financing costs written off
    		   0 0 120,000 1,709,000                                       
      benefit from bad debt
    		-4,000 140,000 -108,000 108,000 -1,000   -4,000 -17,000 -171,000 99,000 73,000 43,000 4,000 -5,000 12,000 1,000 -3,000 -95,000 154,000                          
      stock-based compensation expense
    		2,183,000 2,815,000 1,952,000 2,548,000 2,630,000                                         
      impairment of property, plant and equipment
    		-2,000 1,387,000 286,634,000 803,000 0 771,000 6,039,000                                       
      reduction in the carrying amount of operating lease right-of-use assets
    		828,000 1,192,000 652,000 -104,000 767,000 649,000 574,000 673,000 781,000 773,000 632,000 715,000 706,000 649,000 570,000 561,000 537,000 263,000 257,000 252,000 247,000 229,000 243,000                       
      changes in operating assets and liabilities:
    		                                             
      accounts receivable
    		7,022,000 1,048,000 31,857,000 5,987,000 1,730,000 -33,039,000 -14,034,000 -15,578,000 -10,229,000 3,284,000 9,971,000 -30,309,000 2,321,000 -4,952,000 -4,102,000 -1,715,000 642,000 1,305,000 -4,875,000 4,220,000 -1,075,000 1,287,000 11,799,000 -7,892,000 -2,196,000 121,000 3,278,000 -7,026,000 -1,355,000 28,000 6,630,000 -9,648,000 -574,000 1,076,000 442,000 2,090,000 5,109,000 -1,819,000 -2,291,000 2,781,000 -3,392,000 -697,000 -1,336,000 2,143,000 -1,518,000 
      inventories
    		9,078,000 4,624,000 -9,188,000 -121,000 5,600,000 -7,280,000 -6,561,000 -4,768,000 -1,132,000 -6,282,000 -4,469,000 -1,938,000 -3,600,000 -1,495,000 -3,518,000 -2,275,000 -274,000 1,409,000 2,252,000 -3,672,000 25,000 3,980,000 -4,664,000 4,691,000 -360,000 -3,831,000 -1,950,000 2,591,000 2,913,000 -2,848,000 -1,059,000 5,077,000 -737,000 1,877,000 -2,264,000 34,000 -1,114,000 -5,649,000 393,000 97,000 -554,000 -170,000 -1,008,000 1,452,000 -859,000 
      prepaid expenses and other assets
    		-361,000 1,928,000 12,854,000 -3,049,000 -3,980,000 -3,447,000 -9,359,000 -630,000 -259,000 -1,415,000 -5,097,000 -100,000 -555,000 -2,126,000 -374,000 221,000 -1,371,000 -1,804,000 630,000 -231,000 -198,000 -468,000 181,000 400,000 -203,000 -408,000 127,000 372,000 -217,000 -98,000 204,000 187,000 -125,000 -148,000 497,000 -208,000 234,000 -1,011,000 966,000 120,000 266,000 -928,000 -339,000 214,000 93,000 
      accounts payable
    		-1,151,000 -10,714,000 -3,865,000 2,889,000 -13,062,000 15,366,000 2,148,000 5,003,000 987,000 4,109,000 -5,516,000 4,837,000 -15,499,000 12,917,000 3,063,000 3,609,000 -192,000 2,530,000 1,432,000 -3,355,000 3,752,000 -3,814,000 -3,732,000 3,006,000 -1,042,000 1,886,000 -3,709,000 4,867,000 -1,102,000 1,132,000 -3,340,000 1,747,000 794,000 -3,510,000 2,238,000 122,000 -1,476,000 -49,000 1,508,000 13,000 327,000 1,648,000 -471,000 -88,000 858,000 
      accrued expenses
    		21,000 -1,117,000 -19,814,000 9,965,000 6,847,000 5,332,000 -10,289,000 6,117,000 6,022,000 909,000 -6,240,000 3,266,000 1,764,000 3,236,000 -3,082,000 1,028,000 2,872,000 1,661,000 1,422,000 -197,000 -11,000 476,000 -4,441,000 3,518,000 494,000 -185,000 517,000 249,000 -1,167,000 785,000 -1,923,000 1,069,000 -61,000 688,000 125,000 11,000 -714,000 728,000 -2,203,000 896,000 384,000 756,000 -2,263,000 883,000 1,514,000 
      deferred revenue
    		200,000 -2,021,000 446,000 -206,000 -690,000 -35,000 814,000 -3,147,000 829,000 660,000 -1,872,000 3,490,000 740,000 415,000 -120,000 -288,000 -63,000 -223,000 31,000 -251,000 -1,245,000 -1,467,000 -851,000 -1,478,000 -1,757,000 5,224,000 1,403,000 -543,000 1,244,000 454,000 -345,000 -304,000 802,000 17,000 -254,000 290,000 304,000 310,000 -542,000 -3,834,000 1,928,000 1,169,000 1,070,000 -1,148,000 481,000 
      operating lease and other liabilities
    		                                             
      net cash from operating activities
    		15,035,000 -3,930,000 5,632,000   6,843,000 -17,749,000 -2,779,000 -7,502,000 -7,680,000 -24,651,000 -24,080,000 -37,455,000 -10,035,000 -22,829,000 -12,049,000 -6,050,000 1,343,000 -1,872,000 -5,142,000 -1,540,000 -1,889,000 -1,353,000 4,707,000 -3,818,000 1,068,000 -3,011,000 86,000 -2,493,000 -3,849,000 -2,398,000 344,000 1,053,000 -1,584,000 -4,419,000 788,000 3,848,000 -5,000,000 -214,000 5,441,000 561,000 3,015,000 -3,658,000 4,718,000 1,739,000 
      cash flows from investing activities:
    		                                             
      capital expenditures
    		-9,102,000 -12,885,000 -12,998,000 -14,751,000 -20,821,000 -24,827,000 -25,863,000 -27,786,000 -32,279,000 -66,012,000 -49,378,000 -58,626,000 -66,989,000 -37,855,000 -14,504,000 -7,645,000 -2,254,000 -2,409,000 -1,470,000 -816,000 -623,000 -1,050,000 -927,000 -523,000 -287,000 -665,000 -637,000 -942,000 -994,000 -980,000 -677,000 -695,000 -592,000 -2,685,000 -2,146,000 -3,222,000 -2,266,000 -4,600,000 -3,128,000 -2,579,000 -2,418,000 -6,428,000 -10,531,000 -8,631,000 -2,413,000 
      free cash flows
    		5,933,000 -16,815,000 -7,366,000   -17,984,000 -43,612,000 -30,565,000 -39,781,000 -73,692,000 -74,029,000 -82,706,000 -104,444,000 -47,890,000 -37,333,000 -19,694,000 -8,304,000 -1,066,000 -3,342,000 -5,958,000 -2,163,000 -2,939,000 -2,280,000 4,184,000 -4,105,000 403,000 -3,648,000 -856,000 -3,487,000 -4,829,000 -3,075,000 -351,000 461,000 -4,269,000 -6,565,000 -2,434,000 1,582,000 -9,600,000 -3,342,000 2,862,000 -1,857,000 -3,413,000 -14,189,000 -3,913,000 -674,000 
      net cash from investing activities
    		-9,102,000 -12,885,000 -12,998,000 -14,751,000 -20,821,000 -24,827,000 -25,863,000 -27,786,000 -32,279,000 -66,012,000 -49,378,000 -58,626,000 -66,989,000 -37,855,000 -14,504,000 -7,645,000 -2,254,000 -2,409,000 -1,470,000 -816,000 -623,000 -1,050,000 -927,000 -523,000 -287,000 -665,000 -637,000 -942,000 -994,000 -980,000 -677,000 -695,000 -592,000 -2,685,000 -2,146,000 -3,222,000 -2,266,000 -4,600,000 -3,128,000 -2,579,000 86,000 -6,431,000 -13,032,000 -8,631,000 -2,413,000 
      cash flows from financing activities:
    		                                             
      proceeds from employee stock option exercises
    		1,185,000   -7,000 287,000 8,698,000 1,386,000 1,214,000 274,000 150,000 21,000 379,000 0 136,000 38,000 772,000 836,000 230,000 463,000 1,674,000 118,000                         
      proceeds from sale and leaseback transactions
    		   1,000 10,000,000 0 4,982,000                                       
      repayment of lease and other finance obligations
    		-1,349,000 -1,261,000 -1,203,000                                           
      payments made for employee restricted stock tax withholdings
    		-69,000 -46,000 -556,000 -31,000 -124,000 -53,000 -1,081,000 -18,000 -9,000 -8,000 -385,000 -22,000 -1,000 -24,000 -2,315,000 -36,000 0 -64,000 -2,613,000 -8,000 0 -16,000 -1,195,000 -6,000 0 -10,000 -454,000  -28,000 0 -504,000  -99,000 0 -286,000  -114,000 0 -82,000       
      repayment of revolving line of credit
    		-14,800,000 0 -13,200,000                                           
      repayment of term loan
    		-6,500,000 -6,500,000 -6,500,000                                           
      repayment of convertible note
    		   0                                          
      proceeds from term loan
    		   0                                          
      issuance costs from term loan
    		                                             
      proceeds from revolver
    		   0                                          
      issuance costs from revolver
    		                                             
      fees and issuance costs from offering of common stock
    		0 -10,000 -18,000                                           
      net cash from financing activities
    		-21,533,000 -7,586,000 -21,477,000 86,460,000 22,158,000 8,141,000 5,259,000 75,573,000 126,000 142,000 -364,000 262,869,000 44,657,000 4,898,000 165,946,000 727,000 1,578,000 86,104,000 4,065,000 11,140,000 118,000 4,512,000 10,433,000 -1,746,000 1,978,000 -450,000 3,690,000 -994,000 1,378,000 2,500,000 1,996,000 3,740,000 -107,000 -8,000 -293,000 -609,000 -190,000 -20,000 -105,000 -22,000 -258,000 -19,000 -19,000 -19,000 -2,592,000 
      net decrease in cash, cash equivalents and restricted cash
    		-15,600,000 -24,401,000 -28,843,000  22,108,000                                         
      cash, cash equivalents and restricted cash at beginning of period
    		0 0 221,276,000 0 0 0 139,971,000 0 0 0 282,561,000                                   
      cash, cash equivalents and restricted cash at end of period
    		-15,600,000 -24,401,000 192,433,000 107,393,000 22,108,000 -9,843,000 101,618,000 45,008,000                                      
      supplemental disclosures of cash flow information:
    		                                             
      interest paid
    		3,063,000 3,178,000 3,385,000 4,679,000 2,305,000 -164,000 187,000 0 0   23,000 35,000 43,000 52,000 68,000 55,000 48,000 65,000 48,000 43,000 41,000 84,000 107,000 135,000 102,000 96,000 101,000 96,000 42,000 99,000 69,000 62,000 49,000 40,000 43,000 48,000 53,000 52,000 49,000 50,000 54,000 45,000 57,000 32,000 
      income taxes paid
    		432,000 384,000 2,916,000                                           
      supplemental disclosures of non-cash activities:
    		                                             
      right-of-use assets obtained in exchange for new operating lease liabilities
    		   278,000 2,370,000 2,389,000 94,000 386,000 115,000   -2,827,000 275,000 5,514,000 68,000 1,981,000 1,079,000 8,144,000 888,000 28,000 0 237,000 152,000 0 59,000 141,000 153,000                   
      changes in accrued capital expenditures
    		-7,314,000 -2,213,000 -565,000 -808,000 -1,904,000 -2,833,000 -8,529,000 8,976,000 -11,935,000 -8,868,000 3,610,000 -8,432,000 22,696,000 8,140,000 9,566,000 4,011,000 481,000 33,000 176,000 352,000 -111,000 -190,000 -147,000 493,000 111,000 -429,000 -112,000 -359,000 591,000 231,000 -281,000 20,000 -316,000 -2,251,000 -1,134,000 1,514,000 697,000 -579,000 484,000 780,000 -524,000 -5,247,000 -341,000 -446,000 6,795,000 
      operating lease liabilities
    		 -834,000 -1,062,000 -774,000 -672,000 -553,000 -485,000 -579,000 -687,000 -549,000 -609,000 -723,000 -645,000 -520,000 -556,000 -575,000 -325,000 -304,000 -293,000 -286,000 -281,000 -263,000 -274,000 -275,000 -273,000 -224,000 -246,000                   
      amortization of convertible note issuance costs
    		   -296,000 301,000 10,000 9,000 9,000 10,000 9,000 9,000 9,000 10,000 9,000 4,000                               
      proceeds from underwritten public offering, net of underwriting discounts, commissions and issuance costs
    		                                             
      proceeds from issuance of convertible note related party
    		           0 0 0 100,000,000                               
      issuance costs from convertible note
    		           0 0 0 -185,000                               
      proceeds from at-the-market offering net of commissions, fees and issuance costs of 2,885
    		                                             
      proceeds from registered direct offering of common stock
    		                                             
      fees and issuance costs from registered direct offering of common stock
    		                                             
      proceeds from private placement of common stock
    		           0 0 0 50,000,000 0                              
      fees and issuance costs from private placement of common stock
    		    0 0 -28,000 0    0 -1,000 0 -136,000 -9,000                              
      issuance costs from term loan and revolver
    		                                             
      repayment of finance obligation for sale and leaseback transactions
    		   -25,000 -339,000                                         
      repayment of prepayment liability
    		           -5,000,000 0 0 -4,728,000                               
      net increase in cash, cash equivalents and restricted cash
    		      -38,353,000 45,008,000 -39,655,000 -73,550,000 -74,393,000                                   
      capitalized interest
    		       0 962,000 2,561,000 2,561,000 1,446,000 753,000               18,000 17,000               0 0 
      increase in debt discount due to modification of convertible note – related party
    		                                             
      net cash provided (use) in operating activities
    		                                             
      stock-compensation expense
    		      4,706,000  2,789,000 2,710,000 2,267,000  2,590,000 2,295,000 1,828,000  1,554,000 1,070,000 976,000  991,000 1,007,000 992,000  1,011,000 996,000 878,000  1,128,000 1,150,000 1,136,000  1,364,000 1,374,000 1,244,000           
      gain on extinguishment of debt
    		               0                              
      stock compensation expense
    		                                     1,433,000 1,370,000 1,238,000 1,476,000 1,404,000 1,295,000 1,383,000 1,054,000 
      other liabilities
    		                   -132,000 288,000   0 0 0 -56,000                   
      proceeds from underwritten public offering, net of underwriting discounts and commissions
    		                                             
      issuance costs from underwritten public offering
    		                   0 0 0 -285,000                       
      proceeds from at-the-market offering net of commissions and fees of 2,269 and 601
    		                                             
      fees and issuance costs from at-the-market offering
    		           15,000 -285,000 -28,000 -318,000                               
      proceeds from issuance of convertible note - related party
    		                                             
      proceeds from at-the-market offering, net of commissions of 2,269
    		                                             
      proceeds from at-the-market offering, net of commissions of 879
    		                                             
      cash, cash equivalents, restricted cash and restricted cash equivalents at end of period
    		         -73,550,000 208,168,000                                   
      proceeds from at-the-market offering, net of commissions of 729
    		                                             
      proceeds from issuance of long-term debt
    		                   0 0                         
      issuance costs from long-term debt
    		                   0 0                         
      repayments of borrowings under line of credit
    		                     0 -3,123,000                       
      proceeds from at-the-market offering, net of commissions of 2,269 and 601
    		                                             
      net increase in cash
    		            -59,787,000 -42,992,000 128,613,000 -18,967,000 -6,726,000 85,038,000 723,000 5,182,000 -2,045,000 1,573,000 8,153,000    42,000             2,840,000 389,000   -3,932,000 -3,266,000 
      cash and cash equivalents at beginning of period
    		            0 0 76,564,000 0 0 0 16,496,000 0 0 0 3,633,000 0 0 0 3,327,000            32,804,000    49,719,000   
      cash and cash equivalents at end of period
    		            -59,787,000 -42,992,000 205,177,000 -18,967,000 -6,726,000 85,038,000 17,219,000 5,182,000 -2,045,000 1,573,000 11,786,000 2,438,000 -2,127,000 -47,000 3,369,000            29,357,000    33,010,000   
      proceeds from at-the-market offering, net of commissions of 879 and 576
    		                                             
      proceeds from at-the-market offering, net of commissions of 729 and 193
    		              23,590,000                               
      proceeds from underwritten public offering, net of underwriting discounts and commissions of 1,093
    		                   0 0 0 15,036,000                       
      prepayment proceeds under customer supply agreement
    		                       0 0 0 5,000,000 0 0 2,500,000 2,500,000               
      proceeds from at-the-market offering net of commissions and fees of 601 and 299
    		                                             
      issuance costs from at-the-market offering
    		               0 1,000 -27,000 -17,000                           
      initial recognition of operating lease liabilities related to right-of-use assets
    		                       0 0 0 5,995,000                   
      proceeds from at-the-market offering, net of commissions and fees of 601
    		                                             
      proceeds from at-the-market offering, net of commissions and fees of 576
    		                                             
      proceeds from private placement offering
    		                                             
      fees and issuance costs from private placement offering
    		                                             
      proceeds from at-the-market offering, net of commissions and fees of 193
    		                  6,232,000                           
      impairment of construction in process
    		                                             
      lease incentives
    		                           -30,000 -31,000 -30,000 -30,000 -31,000 -31,000 -27,000 -22,000           
      proceeds from at-the-market offering net of commissions and fees of 299
    		                                             
      proceeds from (repayments of) borrowings under line of credit
    		                   0                          
      depreciation and amortization
    		                     2,562,000 2,563,000 2,562,000 2,554,000 2,565,000 2,532,000 2,528,000 2,573,000 2,515,000 3,171,000 2,721,000 2,726,000 2,630,000 2,676,000 2,555,000 2,472,000 2,416,000 2,410,000 2,465,000 2,663,000 2,575,000 2,184,000 2,491,000 2,513,000 
      impairment of construction in progress
    		                                             
      other
    		                               0 0 0 -1,000    -13,000     1,000 -1,000 
      repayment of obligations under capital lease
    		                               -4,000 -8,000 -8,000 -7,000 -13,000 -12,000 -20,000 -23,000 -22,000 -20,000 -19,000 -19,000 -19,000 -19,000 
      operating lease right-of-use assets
    		                        243,000 242,000 217,000                   
      proceeds from borrowings under line of credit
    		                          36,914,000 25,741,000 18,859,000   21,250,000              
      net decrease in cash
    		                        -2,127,000   -1,850,000 -2,109,000 -2,329,000 -1,079,000  354,000 -4,277,000 -6,858,000  1,392,000         
      repayment of borrowings under line of credit
    		                         36,474,000 -37,770,000 -26,716,000 -17,453,000   -17,500,000              
      postponed financing costs
    		                                             
      payments made for employee restricted stock minimum tax withholdings
    		                                       0      
      accretion of prepayment discount
    		                            64,000 33,000 10,000               
      deferred rent
    		                            -11,000 -12,000 -10,000  -17,000 -89,000 -22,000           
      cash at beginning of period
    		                            0 0 10,694,000  0 0 18,086,000  0    0   0 0 
      cash at end of period
    		                            -2,109,000 -2,329,000 9,615,000  354,000 -4,277,000 11,228,000  1,392,000    389,000   -3,932,000 -3,266,000 
      cost of product revenue
    		                            -4,000 8,000 154,000  -35,000 32,000 204,000  42,000         
      research and development expenses
    		                            4,000 9,000 111,000  -9,000 22,000 138,000  36,000         
      sales and marketing expenses
    		                            -3,000 -23,000 232,000  -9,000 35,000 268,000  37,000         
      general and administrative expenses
    		                            -19,000 20,000 639,000  43,000 41,000 634,000  -74,000         
      total stock-based compensation
    		                            -22,000 14,000 1,136,000  -10,000 130,000 1,244,000  41,000         
      purchase of marketable securities
    		                                       0      
      maturity and sale of marketable securities
    		                                       0      
      capital lease
    		                                           0 0 
      payment of deferred financing costs
    		                                             
      changes in building lease incentives
    		                                             
      unpaid financing costs
    		                                             
      settlement of asset retirement obligation
    		                                             
      advanced billings
    		                                      292,000       
      loss on disposal of assets
    		                                           104,000 0 
      financing and debt issuance costs
    		                                             
      accretion of debt to fair value
    		                                           0 0 
      borrowings under line of credit
    		                                           0 0 
      repayments under line of credit
    		                                           0 0 
      repayment of borrowings under long-term debt
    		                                             
      financing costs
    		                                           0 -15,000 
      proceeds from initial public offering
    		                                           0 -2,558,000 
      proceeds from issuance of common stock
    		                                           0 0 
      conversion of convertible and senior convertible notes to common stock
    		                                           -1,000 0 
      purchases of marketable securities
    		                                         -3,000 -2,501,000   
      capitalized leases
    		                                             
      other long-term liabilities
    		                                      -15,000       
      net decrease in cash and cash equivalents
    		                                      -3,447,000    -16,709,000   
      write-off of construction in progress
    		                                             
      debt issuance costs and noncash interest expenses
    		                                             
      write-off of costs associated with postponed public offering
    		                                             
      gain on extinguishment of convertible notes
    		                                             
      loss on exchange of convertible notes
    		                                             
      issuance of series c preferred stock warrants in connection with senior convertible notes
    		                                             
      accrued dividends on preferred stock
    		                                             
      changes in redemption value of redeemable convertible preferred stock
    		                                             
      reclassification of redeemable convertible preferred stock from temporary to permanent equity
    		                                             
      debt issuance costs
    		                                             
      repayment of borrowing under long-term debt
    		                                            0 
      unpaid initial public offering costs
    		                                             
      deferred offering costs
    		                                             
      unpaid deferred initial public offering costs
    		                                             
      decrease in restricted cash
    		                                             
      revenue:
    		                                             
      u.s.
    		                                             
      international
    		                                             
      total
    		                                             
      debt issuance costs and non-cash interest expenses
    		                                            15,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.