908 Devices Inc(NASDAQ:MASS) 
908 Devices Inc. develops and sells measurement devices for chemical and biochemical analysis in North America, Europe, the Middle East, Africa, and the Asia Pacific. It offers handheld and desktop mass spectrometry (Mass Spec) devices for the point-of-need applications in life sciences research, bi...
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | ||||||||||||||||||||||
product revenue | 10,737,000 | 14,331,000 | 10,844,000 | 9,577,000 | 8,529,000 | 13,578,000 | 12,845,000 | 10,266,000 | 7,233,000 | 11,436,000 | 12,161,000 | 9,595,000 | 7,022,000 | |||||||||
service and contract revenue | 2,644,000 | 3,049,000 | 3,161,000 | 3,458,000 | 3,248,000 | |||||||||||||||||
total revenue | 13,381,000 | 17,380,000 | 14,005,000 | 13,035,000 | 11,777,000 | 18,820,000 | 16,773,000 | 14,047,000 | 9,991,000 | 14,351,000 | 14,297,000 | 12,094,000 | 9,487,000 | 11,643,000 | 15,797,000 | 11,106,000 | 8,306,000 | 15,841,000 | 12,545,000 | 8,277,000 | 5,543,000 | |
yoy | 13.62% | -7.65% | -16.50% | -7.20% | 17.88% | 31.14% | 17.32% | 16.15% | 5.31% | 23.26% | -9.50% | 8.90% | 14.22% | -26.50% | 25.92% | 34.18% | 49.85% | |||||
qoq | -23.01% | 24.10% | 7.44% | 10.68% | -37.42% | 12.20% | 19.41% | 40.60% | -30.38% | 0.38% | 18.22% | 27.48% | -18.52% | -26.30% | 42.24% | 33.71% | -47.57% | 26.27% | 51.56% | 49.32% | ||
cost of revenue: | ||||||||||||||||||||||
product cost of revenue | 5,160,000 | 6,987,000 | 5,290,000 | 5,323,000 | 4,725,000 | 7,466,000 | 6,237,000 | 4,732,000 | 3,210,000 | 5,191,000 | 4,651,000 | 4,800,000 | 3,786,000 | |||||||||
service and contract cost of revenue | 1,339,000 | 1,239,000 | 1,360,000 | 1,339,000 | 1,511,000 | |||||||||||||||||
total cost of revenue | 6,499,000 | 8,226,000 | 6,650,000 | 6,662,000 | 6,236,000 | 9,717,000 | 8,441,000 | 6,629,000 | 4,988,000 | 7,076,000 | 6,428,000 | 6,300,000 | 5,103,000 | 5,721,000 | 6,459,000 | 4,472,000 | 4,177,000 | 6,707,000 | 5,733,000 | 3,898,000 | 2,635,000 | |
gross profit | 6,882,000 | 9,154,000 | 7,355,000 | 6,373,000 | 5,541,000 | 9,103,000 | 8,332,000 | 7,418,000 | 5,003,000 | 7,275,000 | 7,869,000 | 5,794,000 | 4,384,000 | 5,922,000 | 9,338,000 | 6,634,000 | 4,129,000 | 9,134,000 | 6,812,000 | 4,379,000 | 2,908,000 | |
yoy | 24.20% | 0.56% | -11.73% | -14.09% | 10.75% | 25.13% | 5.88% | 28.03% | 14.12% | 22.85% | -15.73% | -12.66% | 6.18% | -35.17% | 37.08% | 51.50% | 41.99% | |||||
qoq | -24.82% | 24.46% | 15.41% | 15.02% | -39.13% | 9.25% | 12.32% | 48.27% | -31.23% | -7.55% | 35.81% | 32.16% | -25.97% | -36.58% | 40.76% | 60.67% | -54.80% | 34.09% | 55.56% | 50.58% | ||
gross margin % | 51.43% | 52.67% | 52.52% | 48.89% | 47.05% | 48.37% | 49.68% | 52.81% | 50.08% | 50.69% | 55.04% | 47.91% | 46.21% | 50.86% | 59.11% | 59.73% | 49.71% | 57.66% | 54.30% | 52.91% | 52.46% | |
operating expenses: | ||||||||||||||||||||||
research and development | 3,471,000 | 3,504,000 | 3,837,000 | 4,405,000 | 3,829,000 | 6,536,000 | 6,788,000 | 6,381,000 | 5,790,000 | 5,444,000 | 5,537,000 | 5,525,000 | 5,398,000 | 4,662,000 | 4,666,000 | 4,293,000 | 3,905,000 | 3,745,000 | 3,302,000 | 3,055,000 | 2,965,000 | |
selling, general and administrative | 9,914,000 | 8,816,000 | 9,134,000 | 10,337,000 | 10,239,000 | 13,759,000 | 13,379,000 | 14,597,000 | 11,901,000 | 11,544,000 | 11,421,000 | 11,208,000 | 12,003,000 | 11,598,000 | 11,826,000 | 10,710,000 | 9,745,000 | 8,917,000 | 8,786,000 | 8,779,000 | 5,753,000 | |
change in fair value of contingent consideration | 6,381,000 | -6,258,000 | 10,708,000 | 6,792,000 | 2,499,000 | -1,075,000 | -12,141,000 | |||||||||||||||
total operating expenses | 19,766,000 | 6,062,000 | 23,679,000 | 21,534,000 | 16,567,000 | 29,356,000 | 38,549,000 | 20,978,000 | 17,691,000 | 16,988,000 | 16,958,000 | 16,733,000 | 17,401,000 | 16,260,000 | 16,492,000 | 15,003,000 | 13,650,000 | 12,662,000 | 12,088,000 | 11,834,000 | 8,718,000 | |
loss from continuing operations | -12,884,000 | 3,092,000 | -16,324,000 | -15,161,000 | -11,026,000 | |||||||||||||||||
other income, net: | ||||||||||||||||||||||
interest income | 936,000 | 1,022,000 | 1,101,000 | 1,196,000 | 816,000 | 753,000 | 879,000 | 1,133,000 | 1,729,000 | 2,325,000 | 1,449,000 | 1,689,000 | 1,017,000 | |||||||||
income from transition services agreement | 215,000 | 431,000 | 1,236,000 | 406,000 | ||||||||||||||||||
other expense | -7,000 | -117,000 | -89,000 | -108,000 | -33,000 | -167,000 | ||||||||||||||||
total other income | 929,000 | 1,120,000 | 1,443,000 | 2,324,000 | 1,189,000 | 736,000 | 850,000 | 943,000 | 1,701,000 | 2,282,000 | 1,909,000 | 1,522,000 | 485,000 | 547,000 | 895,000 | 270,000 | 106,000 | -40,750 | 91,000 | 31,000 | ||
net income from continuing operations | -11,955,000 | 4,378,000 | -14,910,000 | -12,908,000 | -9,837,000 | |||||||||||||||||
net income from discontinued operations, net of tax | -204,000 | -72,000 | -398,000 | 53,440,000 | ||||||||||||||||||
net income attributable to common stockholders | -11,955,000 | 4,174,000 | -14,982,000 | -13,306,000 | 43,603,000 | |||||||||||||||||
net loss from continuing operations per share attributable to common stockholders, basic and diluted | -0.32 | 0.12 | -0.41 | -0.36 | -0.28 | |||||||||||||||||
net income from discontinued operations per share attributable to common stockholders, basic and diluted | -0.01 | -0.01 | 1.51 | |||||||||||||||||||
net income per share | -0.32 | 0.11 | -0.41 | -0.37 | 1.23 | -0.22 | ||||||||||||||||
weighted-average common shares outstanding | 27,957,904 | |||||||||||||||||||||
basic and diluted | 36,818,652 | 35,898,542 | 36,101,051 | 35,877,947 | 35,386,483 | 34,076,321 | 34,670,638 | 34,061,933 | 32,710,894 | 32,239,394 | 32,345,925 | 32,199,156 | 31,965,799 | 31,492,531 | 31,606,484 | 31,413,431 | 31,210,567 | 27,707,858 | ||||
goodwill impairment | 10,136,000 | 30,523,000 | ||||||||||||||||||||
loss from operations before income taxes | 4,212,000 | -14,881,000 | -12,837,000 | -19,517,000 | -29,367,000 | -12,617,000 | -10,987,000 | -7,431,000 | -7,180,000 | -9,417,000 | ||||||||||||
income tax expense | -25,000 | -29,000 | -71,000 | |||||||||||||||||||
service revenue | 2,581,500 | 3,887,000 | 3,681,000 | 2,758,000 | 2,915,000 | 2,136,000 | 2,354,000 | 2,240,000 | ||||||||||||||
contract revenue | 35,250 | 41,000 | 100,000 | 145,000 | 225,000 | |||||||||||||||||
service cost of revenue | 1,450,750 | 2,202,000 | 1,823,000 | 1,778,000 | 1,885,000 | 1,777,000 | 1,448,000 | 1,270,000 | ||||||||||||||
contract cost of revenue | 19,000 | 2,000 | 74,000 | 52,000 | 47,000 | |||||||||||||||||
income from operations | -20,253,000 | -30,217,000 | -13,560,000 | -12,688,000 | -9,713,000 | -9,089,000 | -10,939,000 | -13,017,000 | -10,338,000 | -7,154,000 | -8,369,000 | -9,521,000 | -3,528,000 | -5,276,000 | -7,455,000 | -5,810,000 | ||||||
yoy | 108.51% | 232.46% | 23.96% | -2.53% | -6.05% | 27.05% | 30.71% | 36.72% | 193.03% | 35.60% | 12.26% | 63.87% | ||||||||||
qoq | -32.97% | 122.84% | 6.87% | 30.63% | 6.87% | -16.91% | -15.96% | 25.91% | 44.51% | -14.52% | -12.10% | 169.87% | -33.13% | -29.23% | 28.31% | |||||||
operating margin % | 0% | 0% | 0% | 0% | 0% | -107.61% | -180.15% | -96.53% | -126.99% | -67.68% | -63.57% | -90.45% | -137.21% | -88.79% | -45.29% | -75.36% | -114.63% | -22.27% | -42.06% | -90.07% | -104.82% | |
interest expense | 350,000 | -551,000 | -61,000 | -33,000 | -15,000 | -20,000 | -40,000 | -31,000 | -39,000 | -376,000 | ||||||||||||
other income | -61,750 | -29,000 | -190,000 | -28,000 | -22,000 | 110,000 | 19,000 | -1,423,000 | 928,000 | 285,000 | 126,000 | 103,000 | 122,000 | 70,000 | 91,000 | |||||||
benefit for income taxes | 71,000 | 72,000 | 69,000 | 70,000 | 2,000 | 87,000 | 71,000 | |||||||||||||||
net income | -19,446,000 | -29,295,000 | -12,548,000 | -10,917,000 | -7,429,000 | -7,093,000 | -9,346,000 | -12,532,000 | -9,791,000 | -6,259,000 | ||||||||||||
yoy | 161.76% | 313.01% | 34.26% | -12.89% | -24.12% | 13.32% | ||||||||||||||||
qoq | -33.62% | 133.46% | 14.94% | 46.95% | 4.74% | -24.11% | -25.42% | 28.00% | 56.43% | |||||||||||||
net income margin % | 0% | 0% | 0% | 0% | 0% | -103.33% | -174.66% | -89.33% | -109.27% | -51.77% | -49.61% | -77.28% | -132.10% | -84.09% | -39.62% | 0% | 0% | 0% | 0% | 0% | 0% | |
net income per share | -0.32 | 0.11 | -0.41 | -0.37 | 1.23 | -0.22 | ||||||||||||||||
basic and diluted | -0.56 | -0.84 | -0.37 | -0.33 | -0.23 | -0.22 | -0.29 | -0.39 | -0.31 | -0.2 | -0.26 | -0.3 | -0.17 | -0.19 | ||||||||
other income: | ||||||||||||||||||||||
product and service revenue | 10,401,000 | 15,437,000 | 10,608,000 | 8,029,000 | 15,551,000 | 12,285,000 | 7,915,000 | 5,357,000 | ||||||||||||||
license and contract revenue | 1,242,000 | 360,000 | 498,000 | 277,000 | 290,000 | 260,000 | 362,000 | 186,000 | ||||||||||||||
product and service cost of revenue | 5,662,000 | 6,366,000 | 4,361,000 | 4,041,000 | 6,592,000 | 5,656,000 | 3,846,000 | 2,560,000 | ||||||||||||||
license and contract cost of revenue | 59,000 | 93,000 | 111,000 | 136,000 | 115,000 | 77,000 | 52,000 | 75,000 | ||||||||||||||
net loss and comprehensive loss | -8,099,000 | -9,415,000 | -3,465,000 | -5,185,000 | -6,095,000 | |||||||||||||||||
accretion of redeemable convertible preferred stock to redemption value | ||||||||||||||||||||||
net loss attributable to common stockholders | -3,465,000 | -5,185,000 | -6,095,000 | |||||||||||||||||||
weighted-average common shares outstanding, | ||||||||||||||||||||||
basic and diluted | 36,818,652 | 35,898,542 | 36,101,051 | 35,877,947 | 35,386,483 | 34,076,321 | 34,670,638 | 34,061,933 | 32,710,894 | 32,239,394 | 32,345,925 | 32,199,156 | 31,965,799 | 31,492,531 | 31,606,484 | 31,413,431 | 31,210,567 | 27,707,858 | ||||
net income and comprehensive income | -7,424,000 | |||||||||||||||||||||
net income per share | -0.32 | 0.11 | -0.41 | -0.37 | 1.23 | -0.22 | ||||||||||||||||
basic | -0.27 | |||||||||||||||||||||
diluted | -0.27 | |||||||||||||||||||||
weighted-average common shares outstanding | 27,957,904 | |||||||||||||||||||||
basic | 27,335,637 | |||||||||||||||||||||
diluted | 27,335,637 | |||||||||||||||||||||
total other expense | -285,000 | |||||||||||||||||||||
weighted-average common shares outstanding, basic and diluted | 27,290,364 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||
current assets: | |||||||||||
cash and cash equivalents | 67,563,000 | 70,517,000 | 62,802,000 | 61,751,000 | 79,164,000 | 44,032,000 | 45,025,000 | 46,811,000 | 104,599,000 | 121,041,000 | 159,227,000 |
marketable securities | 44,179,000 | 42,453,000 | 49,250,000 | 56,833,000 | 45,151,000 | 25,568,000 | 26,661,000 | 30,572,000 | 29,596,000 | 24,641,000 | |
accounts receivable | 9,865,000 | 11,327,000 | 11,000,000 | 6,207,000 | 6,930,000 | 12,627,000 | 16,659,000 | 10,987,000 | 7,486,000 | 8,989,000 | 6,825,000 |
inventory | 13,240,000 | 12,990,000 | 15,326,000 | 15,461,000 | 12,738,000 | 16,173,000 | 17,833,000 | 18,589,000 | 16,356,000 | 14,938,000 | 4,568,000 |
prepaid expenses and other current assets | 7,167,000 | 7,272,000 | 6,558,000 | 7,613,000 | 5,021,000 | 4,655,000 | 2,749,000 | 3,485,000 | 3,831,000 | 4,181,000 | 300,000 |
total current assets | 142,014,000 | 144,559,000 | 144,936,000 | 147,865,000 | 149,004,000 | 103,055,000 | 108,927,000 | 110,444,000 | 161,868,000 | 173,790,000 | 170,967,000 |
operating lease, right-of-use assets | 4,205,000 | 4,397,000 | 4,152,000 | 4,294,000 | 3,574,000 | 6,910,000 | 7,484,000 | 5,904,000 | 5,754,000 | 6,233,000 | 6,287,000 |
property and equipment | 4,141,000 | 4,232,000 | 4,147,000 | 1,652,000 | 1,509,000 | 3,421,000 | 3,666,000 | 3,556,000 | 3,215,000 | 3,342,000 | 850,000 |
intangible assets | 35,679,000 | 36,412,000 | 37,144,000 | 37,254,000 | 37,967,000 | 45,261,000 | 46,683,000 | 47,298,000 | 7,468,000 | 7,860,000 | |
other long-term assets | 656,000 | 471,000 | 494,000 | 636,000 | 3,973,000 | 829,000 | 1,386,000 | 1,352,000 | 1,347,000 | 1,389,000 | 723,000 |
total assets | 186,695,000 | 190,071,000 | 190,873,000 | 191,701,000 | 196,027,000 | 159,476,000 | 178,283,000 | 208,774,000 | 189,791,000 | 202,981,000 | 178,827,000 |
liabilities and stockholders' equity | |||||||||||
current liabilities: | |||||||||||
accounts payable | 2,415,000 | 1,586,000 | 1,811,000 | 3,585,000 | 3,846,000 | 2,063,000 | 1,895,000 | 1,974,000 | 1,472,000 | 1,191,000 | 1,004,000 |
accrued expenses | 4,669,000 | 6,838,000 | 7,067,000 | 5,287,000 | 4,963,000 | 9,096,000 | 7,667,000 | 5,636,000 | 5,299,000 | 8,713,000 | 5,038,000 |
deferred revenue | 9,470,000 | 8,934,000 | 9,106,000 | 8,828,000 | 9,699,000 | 12,125,000 | 13,859,000 | 11,954,000 | 10,483,000 | 10,629,000 | 3,104,000 |
operating lease liabilities | 700,000 | 681,000 | 481,000 | 433,000 | 1,053,000 | 1,865,000 | 2,297,000 | 2,153,000 | 2,076,000 | 2,016,000 | 1,187,000 |
contingent consideration | 22,406,000 | 16,025,000 | 23,012,000 | 11,575,000 | 4,783,000 | 2,284,000 | 3,359,000 | 15,500,000 | |||
total current liabilities | 39,660,000 | 34,064,000 | 41,477,000 | 29,708,000 | 19,561,000 | 25,149,000 | 25,718,000 | 21,717,000 | 19,330,000 | 22,549,000 | 10,833,000 |
operating lease liabilities, net of current portion | 3,766,000 | 3,947,000 | 3,873,000 | 3,998,000 | 2,714,000 | 4,742,000 | 4,882,000 | 3,439,000 | 3,380,000 | 3,929,000 | 5,839,000 |
deferred revenue, net of current portion | 9,068,000 | 8,331,000 | 9,194,000 | 9,178,000 | 9,545,000 | 10,679,000 | 11,027,000 | 9,528,000 | 7,871,000 | 8,571,000 | 8,588,000 |
other long-term liabilities | 30,000 | 30,000 | 30,000 | 194,000 | |||||||
total liabilities | 52,524,000 | 46,372,000 | 54,574,000 | 42,884,000 | 36,603,000 | 44,884,000 | 47,244,000 | 52,415,000 | 32,898,000 | 37,490,000 | 39,786,000 |
commitments and contingencies | |||||||||||
stockholders' equity: | |||||||||||
preferred stock, 0.001 par value... | |||||||||||
common stock, 0.001 par value... | 37,000 | 36,000 | 36,000 | 36,000 | 36,000 | 35,000 | 35,000 | 35,000 | 33,000 | 33,000 | 27,000 |
additional paid-in capital | 369,403,000 | 366,925,000 | 363,710,000 | 361,305,000 | 358,592,000 | 356,216,000 | 352,795,000 | 349,530,000 | 337,396,000 | 334,692,000 | 217,482,000 |
accumulated other comprehensive income | 2,000 | 54,000 | 43,000 | -16,000 | -2,000 | 1,146,000 | 1,568,000 | 858,000 | 980,000 | 1,365,000 | |
accumulated deficit | -235,271,000 | -223,316,000 | -227,490,000 | -212,508,000 | -199,202,000 | -242,805,000 | -223,359,000 | -194,064,000 | -181,516,000 | -170,599,000 | -78,468,000 |
total stockholders' equity | 134,171,000 | 143,699,000 | 136,299,000 | 148,817,000 | 159,424,000 | 114,592,000 | 131,039,000 | 156,359,000 | 156,893,000 | 165,491,000 | 139,041,000 |
total liabilities and stockholders' equity | 186,695,000 | 190,071,000 | 190,873,000 | 191,701,000 | 196,027,000 | 159,476,000 | 178,283,000 | 208,774,000 | 189,791,000 | 202,981,000 | |
current assets of discontinued operations | |||||||||||
non-current assets of discontinued operations | |||||||||||
current liabilities of discontinued operations | |||||||||||
contingent consideration, net of current portion | |||||||||||
non-current liabilities of discontinued operations | |||||||||||
goodwill | 10,137,000 | 40,220,000 | 10,139,000 | 10,367,000 | |||||||
deferred income taxes | 2,030,000 | 2,258,000 | 2,231,000 | 2,317,000 | 2,441,000 | ||||||
long-term debt | 14,332,000 | ||||||||||
unbilled receivables | 47,000 | ||||||||||
liabilities, convertible preferred stock and stockholders' equity | |||||||||||
current portion of long-term debt | 500,000 | ||||||||||
commercial services agreement liability - related party | |||||||||||
preferred stock warrant liability | |||||||||||
redeemable convertible preferred stock (series a, b, c, d and e), 0.001 par value... | |||||||||||
stockholders' equity | |||||||||||
total liabilities, redeemable convertible preferred stock and stockholders' equity | 178,827,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||
net income | -11,955,000 | 4,174,000 | -14,982,000 | -13,306,000 | 43,603,000 | ||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||
depreciation and amortization expense | 1,139,000 | 1,111,000 | 1,091,000 | 972,000 | 1,291,000 | 1,437,000 | 1,413,000 | 504,000 | 1,328,000 | 405,000 | 740,000 | 605,000 | 634,000 | 577,000 | 459,000 | 311,000 | 267,000 | 289,000 | 261,000 | 238,000 | 137,000 |
stock-based compensation expense | 2,399,000 | 2,765,000 | 2,379,000 | 2,336,000 | 2,365,000 | 2,825,000 | 3,199,000 | 3,096,000 | 2,643,000 | 2,339,000 | 2,704,000 | 2,578,000 | 2,166,000 | 2,004,000 | 2,020,000 | 1,894,000 | 1,289,000 | 873,000 | 811,000 | 481,000 | 339,000 |
provision for inventory obsolescence | -13,000 | 135,000 | 169,000 | 100,000 | 109,000 | 126,000 | 298,000 | 78,000 | 151,000 | 379,000 | 246,000 | 330,000 | 7,000 | 19,000 | 20,000 | 143,000 | 0 | 77,000 | -29,000 | ||
net amortization of premiums and accretion of discounts on marketable securities | 173,000 | 4,000 | -256,000 | -208,000 | -177,000 | 99,000 | 1,000 | 5,000 | -92,000 | ||||||||||||
gain on sale of desktop portfolio, net of transaction costs | 188,000 | 72,000 | 399,000 | -56,599,000 | |||||||||||||||||
provision for credit losses | -57,000 | 8,000 | 20,000 | -14,000 | 0 | 165,000 | 25,000 | 294,000 | -16,000 | ||||||||||||
change in fair value of contingent consideration | 6,381,000 | -6,258,000 | 10,708,000 | 6,792,000 | 2,499,000 | -1,075,000 | -228,000 | 104,000 | 65,000 | 166,000 | |||||||||||
amortization of debt issuance costs | 10,000 | ||||||||||||||||||||
changes in operating assets and liabilities, net of business combinations: | |||||||||||||||||||||
accounts receivable | 1,519,000 | -326,000 | -4,781,000 | 715,000 | 4,612,000 | 3,974,000 | -5,641,000 | -2,720,000 | 1,460,000 | 3,630,000 | -2,574,000 | -2,249,000 | 1,873,000 | 4,624,000 | -3,971,000 | -4,775,000 | 10,052,000 | -8,089,000 | -2,962,000 | -2,682,000 | 2,458,000 |
inventory | -512,000 | 1,731,000 | -309,000 | -3,061,000 | -2,092,000 | 1,332,000 | 77,000 | -1,398,000 | -1,675,000 | -61,000 | -2,161,000 | -690,000 | -990,000 | -1,367,000 | -251,000 | -1,899,000 | -1,958,000 | -35,000 | -503,000 | -1,474,000 | -2,469,000 |
prepaid expenses and other current assets | 105,000 | -713,000 | 1,080,000 | -2,778,000 | -539,000 | -1,923,000 | 738,000 | 397,000 | 343,000 | -1,029,000 | 790,000 | 1,218,000 | -1,492,000 | -1,354,000 | 1,079,000 | 500,000 | 619,000 | -2,478,000 | 439,000 | 315,000 | -2,396,000 |
other long-term assets | -74,000 | 22,000 | 8,000 | 3,487,000 | -3,306,000 | 565,000 | -41,000 | -7,000 | 42,000 | 75,000 | -152,000 | -65,000 | 7,000 | -224,000 | 113,000 | -27,000 | 45,000 | 521,000 | 180,000 | -141,000 | -1,036,000 |
accounts payable and accrued expenses | 787,000 | -508,000 | 218,000 | -41,000 | -5,600,000 | 1,855,000 | 1,907,000 | 328,000 | -1,771,000 | 805,000 | 2,146,000 | -579,000 | -339,000 | 627,000 | 868,000 | 583,000 | -1,626,000 | 1,306,000 | 965,000 | 1,269,000 | -787,000 |
deferred revenue | 1,273,000 | -1,035,000 | 294,000 | -1,238,000 | -1,198,000 | -2,062,000 | 3,392,000 | -857,000 | -841,000 | -705,000 | 606,000 | 401,000 | -123,000 | -571,000 | 1,091,000 | 1,107,000 | 265,000 | 1,865,000 | 3,042,000 | 418,000 | 101,000 |
right-of-use operating lease assets | 192,000 | 160,000 | 142,000 | 895,000 | 526,000 | 554,000 | 531,000 | 492,000 | 470,000 | 446,000 | 481,000 | 442,000 | 299,000 | 315,000 | 312,000 | 303,000 | 296,000 | 289,000 | 281,000 | 275,000 | 276,000 |
operating lease liabilities | -162,000 | -131,000 | -47,000 | -951,000 | -533,000 | -553,000 | -522,000 | -507,000 | -481,000 | -470,000 | -431,000 | -329,000 | -353,000 | -353,000 | -338,000 | -330,000 | -323,000 | -315,000 | -297,000 | -286,000 | -292,000 |
net cash from operating activities | 1,205,000 | 1,319,000 | -4,204,000 | -5,784,000 | -15,019,000 | -2,243,000 | -5,607,000 | -13,040,000 | -9,357,000 | -1,930,000 | -4,600,000 | -7,882,000 | -10,647,000 | -5,116,000 | -4,938,000 | -10,410,000 | -466,000 | -9,220,000 | -2,924,000 | -7,305,000 | -9,633,000 |
capital expenditures | -40,000 | 6,000 | -680,000 | -122,000 | -159,000 | -190,000 | -156,000 | 647,000 | -903,000 | -333,000 | -207,000 | -320,000 | -1,185,000 | -612,000 | -744,000 | -72,000 | -617,000 | -54,000 | -58,000 | -616,000 | -9,000 |
free cash flows | 1,165,000 | 1,325,000 | -4,884,000 | -5,906,000 | -15,178,000 | -2,433,000 | -5,763,000 | -12,393,000 | -10,260,000 | -2,263,000 | -4,807,000 | -8,202,000 | -11,832,000 | -5,728,000 | -5,682,000 | -10,482,000 | -1,083,000 | -9,274,000 | -2,982,000 | -7,921,000 | -9,642,000 |
cash flows from investing activities: | |||||||||||||||||||||
purchases of property and equipment | -40,000 | 6,000 | -680,000 | -122,000 | -159,000 | -190,000 | -156,000 | 647,000 | -903,000 | -333,000 | -207,000 | -320,000 | -1,185,000 | -612,000 | -744,000 | -72,000 | -617,000 | -54,000 | -58,000 | -616,000 | -9,000 |
purchases of marketable securities | -18,348,000 | -9,729,000 | 5,141,000 | -35,097,000 | -24,320,000 | -14,621,000 | -10,671,000 | -15,591,000 | -14,617,000 | -14,616,000 | -14,642,000 | ||||||||||
proceeds from sale of desktop portfolio | 0 | -8,000 | 0 | 69,917,000 | |||||||||||||||||
proceeds from maturities of marketable securities | 16,397,000 | 16,533,000 | 2,758,000 | 23,632,000 | 4,875,000 | ||||||||||||||||
net cash from investing activities | -1,991,000 | 6,810,000 | 5,211,000 | -11,587,000 | 50,313,000 | 780,000 | 3,790,000 | -45,111,000 | -5,780,000 | 4,636,000 | -9,915,000 | -19,936,000 | -1,185,000 | -612,000 | -14,506,000 | -72,000 | -617,000 | -54,000 | -58,000 | -616,000 | -9,000 |
cash flows from financing activities: | |||||||||||||||||||||
payments for withholding taxes on vested awards | -2,127,000 | -135,000 | -43,000 | -454,000 | -201,000 | -66,000 | -43,000 | -57,000 | -939,000 | -178,000 | -68,000 | -61,000 | -469,000 | -63,000 | -66,000 | -51,000 | -82,000 | ||||
proceeds from issuance of common stock | 80,000 | 449,000 | 27,000 | 376,000 | 12,000 | 595,000 | 66,000 | 424,000 | 61,000 | 273,000 | 15,000 | 560,000 | 88,000 | ||||||||
payment of deferred financing costs | -121,000 | ||||||||||||||||||||
net cash from financing activities | -2,168,000 | -414,000 | -16,000 | -78,000 | -189,000 | 529,000 | 23,000 | 367,000 | -1,295,000 | 95,000 | -248,000 | -401,000 | -15,381,000 | 411,000 | 171,000 | 467,000 | 130,000 | 94,532,000 | 483,000 | 276,000 | -566,000 |
effect of foreign exchange rate changes on cash and cash equivalents | 0 | 0 | 0 | 27,000 | -59,000 | 8,000 | -4,000 | -10,000 | 27,000 | -20,000 | 1,000 | 5,000 | 41,000 | ||||||||
net increase in cash, cash equivalents and restricted cash | -2,954,000 | 7,715,000 | 991,000 | 85,258,000 | |||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 70,592,000 | 0 | 0 | 0 | 44,203,000 | 0 | 0 | 0 | 121,212,000 | 0 | 0 | 0 | 188,593,000 | 0 | 0 | 0 | 224,133,000 | 0 | 0 | 0 | 159,227,000 |
cash, cash equivalents and restricted cash at end of period | 67,638,000 | 7,715,000 | 991,000 | -17,449,000 | 79,335,000 | -993,000 | -1,786,000 | -57,788,000 | 104,770,000 | 2,828,000 | -14,783,000 | -28,218,000 | 161,385,000 | -5,276,000 | -19,296,000 | -10,015,000 | 223,180,000 | 85,258,000 | -2,499,000 | -7,645,000 | 149,019,000 |
supplemental disclosure of noncash investing and financing information: | |||||||||||||||||||||
property and equipment included in account payable | 138,000 | 31,000 | 13,000 | 35,000 | |||||||||||||||||
transfers of inventory to property and equipment | 275,000 | 470,000 | 275,000 | 159,000 | 410,000 | 498,000 | 91,000 | 705,000 | 147,000 | 62,000 | 133,000 | 289,000 | 40,000 | 334,000 | 224,000 | 246,000 | 184,000 | 266,000 | 244,000 | ||
reconciliation of cash, cash equivalents and restricted cash: | |||||||||||||||||||||
cash and cash equivalents | 67,563,000 | 7,715,000 | 1,051,000 | -17,413,000 | 79,164,000 | -993,000 | -1,786,000 | -57,788,000 | 104,599,000 | 2,828,000 | -14,783,000 | -28,218,000 | 161,214,000 | -5,276,000 | -19,296,000 | -10,126,000 | 223,120,000 | 85,258,000 | -2,499,000 | -7,645,000 | 148,959,000 |
restricted cash included in prepaid expenses and other current assets | 111,000 | 60,000 | 0 | 0 | 0 | 60,000 | 0 | 0 | |||||||||||||
restricted cash included in other long-term assets | 75,000 | 0 | -60,000 | 75,000 | 60,000 | 0 | 0 | 0 | 171,000 | 0 | 0 | 60,000 | 111,000 | 0 | 0 | ||||||
total cash, cash equivalents and restricted cash shown in the statement of cash flows | 67,638,000 | 7,715,000 | 991,000 | -17,449,000 | 79,335,000 | -993,000 | -1,786,000 | -57,788,000 | 104,770,000 | 2,828,000 | -14,783,000 | -28,218,000 | 161,385,000 | -5,276,000 | -19,296,000 | -10,015,000 | 223,180,000 | 85,258,000 | -2,499,000 | -7,645,000 | 149,019,000 |
goodwill impairment | 10,136,000 | ||||||||||||||||||||
loss on disposal of property and equipment | 0 | 38,000 | 0 | 26,000 | |||||||||||||||||
deferred income tax | -73,000 | -72,000 | -68,000 | -70,000 | -66,000 | -117,000 | -72,000 | -50,000 | |||||||||||||
acquisition of businesses, net of cash acquired | 0 | ||||||||||||||||||||
payments for contingent consideration | 0 | 0 | 0 | -417,000 | 0 | -195,000 | |||||||||||||||
fair value of common stock issued for acquisition of redwave technology | 0 | 0 | |||||||||||||||||||
supplemental disclosure of cash flow information: | |||||||||||||||||||||
cash paid for income tax | |||||||||||||||||||||
acquisition of redwave technology, net of cash acquired | 0 | 0 | |||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | 35,132,000 | -993,000 | -1,786,000 | -57,788,000 | -16,442,000 | 2,828,000 | -14,783,000 | -28,218,000 | -27,208,000 | -19,296,000 | -10,015,000 | -953,000 | -7,645,000 | -10,208,000 | |||||||
net loss | -19,446,000 | -29,295,000 | -12,548,000 | -10,917,000 | -7,429,000 | -7,091,000 | -9,347,000 | -12,532,000 | -9,791,000 | -6,258,000 | -8,099,000 | -9,415,000 | -3,465,000 | -5,185,000 | -7,424,000 | -6,095,000 | |||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||
noncash interest expense and loss on extinguishment of debt | -14,000 | -317,000 | 0 | 523,000 | 37,000 | 4,000 | 3,000 | 3,000 | 7,000 | 0 | 3,000 | 168,000 | |||||||||
repayment on revolving line of credit | -15,000,000 | -15,000,000 | |||||||||||||||||||
transfers of property and equipment to inventory | |||||||||||||||||||||
cash paid for taxes | |||||||||||||||||||||
proceeds from sales and maturities of marketable securities | 14,617,000 | 14,616,000 | 9,740,000 | 19,585,000 | |||||||||||||||||
repayment of notes payable | 0 | -15,000,000 | -15,000,000 | 0 | 0 | 0 | -15,000,000 | ||||||||||||||
other long-term liabilities | -6,000 | -436,000 | -2,000 | ||||||||||||||||||
loss on sale of property and equipment | 28,000 | ||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||
acquisitions, net of cash acquired | 0 | ||||||||||||||||||||
payments of public offering costs | 0 | 0 | 0 | -112,000 | -264,000 | 0 | 0 | -576,000 | |||||||||||||
proceeds from borrowings on revolving line of credit | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | |||||||||||||||||
cash paid for interest | 35,000 | ||||||||||||||||||||
provision for doubtful accounts | 0 | 0 | |||||||||||||||||||
proceeds from public offerings, net of underwriting discounts and commissions | |||||||||||||||||||||
payments of debt issuance costs | 0 | 0 | -22,000 | -17,000 | |||||||||||||||||
public offering costs included in accounts payable and accrued expenses | |||||||||||||||||||||
proceeds from issuance of common stock upon option exercise | 237,000 | 518,000 | 324,000 | 44,000 | 483,000 | 298,000 | 27,000 | ||||||||||||||
debt issuance costs in accounts payable and accrued expenses | 22,000 | ||||||||||||||||||||
change in fair value of preferred stock warrant liability | |||||||||||||||||||||
change in fair value of commercial services agreement liability – related party | |||||||||||||||||||||
repayment of borrowings on revolving line of credit | |||||||||||||||||||||
proceeds from paycheck protection program loan | |||||||||||||||||||||
repayment of paycheck protection program loan | |||||||||||||||||||||
accretion of redeemable convertible preferred stock to redemption value | |||||||||||||||||||||
conversion of convertible preferred stock to common stock upon initial public offering | |||||||||||||||||||||
reclassification of warrant liability to equity upon initial public offering | |||||||||||||||||||||
unbilled receivables | 44,000 | -99,000 | -8,000 | ||||||||||||||||||
net proceeds from borrowings on revolving line of credit | 0 | ||||||||||||||||||||
initial public offering costs included in accounts payable and accrued expenses | |||||||||||||||||||||
operating right of use assets arising from operating lease liabilities | 0 | 0 | 16,000 | ||||||||||||||||||
proceeds from issuance of revolving line of credit | 15,000,000 | ||||||||||||||||||||
restricted cash | 60,000 | ||||||||||||||||||||
change in fair value of commercial services agreement liability - related party | |||||||||||||||||||||
noncash interest and loss on extinguishment of debt | |||||||||||||||||||||
right-of-use operating assets | |||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | |||||||||||||||||||||
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | |||||||||||||||||||||
proceeds from exercise of preferred stock warrants | |||||||||||||||||||||
proceeds from issuance of notes payable | |||||||||||||||||||||
payments of initial public offering costs | |||||||||||||||||||||
net increase in cash and cash equivalents | |||||||||||||||||||||
cash and cash equivalents at beginning of period | |||||||||||||||||||||
cash and cash equivalents at end of period |