Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 35,447 $ 56,011
Accounts receivable, net of allowance of $2,989 and $2,028 as of March 31, 2023 and December 31, 2022, respectively 10,901 9,899
Inventories 46,988 47,066
Prepaid expenses and other current assets 7,826 9,401
Total current assets 101,162 122,377
Property and equipment, net 12,475 11,519
Operating lease right-of-use asset, net 7,411 7,735
Other assets 1,770 1,928
Total assets 122,818 143,559
Current liabilities    
Accounts payable 5,228 7,961
Accrued expenses and other current liabilities 11,912 6,270
Warrant liability 54 60
Current portion of operating lease obligation 1,734 1,649
Total current liabilities 18,928 15,940
Long-term debt, net of debt discount 52,755 62,103
Operating lease obligation, net of current portion 7,262 7,735
Derivative liability 26 78
Earnout liability 1,859 2,265
Other long-term liabilities 851 880
Total liabilities 81,681 89,001
Commitments and contingencies (Note 13)
Stockholders’ equity    
Preferred stock, par value $0.0001, 1,000,000 shares authorized and no shares issued and outstanding as of March 31, 2023 and December 31, 2022 0 0
Common stock, par value $0.0001, 250,000,000 shares authorized as of March 31, 2023 and December 31, 2022; 5,652,448 and 4,492,157 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 1 1
Additional paid-in capital 230,965 220,951
Accumulated deficit (189,829) (166,394)
Total stockholders’ equity 41,137 54,558
Total liabilities and stockholders’ equity $ 122,818 $ 143,559