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Cash Flow

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
May 31, 2022
May 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) for the period $ (6,217) $ 1,765
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation expense 1,373 1,546
Incentive compensation 1,415 0
Forgiveness of Paycheck Protection Program loan 0 (190)
Depreciation and amortization 381 226
Operating lease costs 4 116
Changes in assets and liabilities:    
Accounts receivable (803) 138
Deferred revenue (373) (3,227)
Inventory (6,857) (1,230)
Prepaid expenses and other current assets (346) 422
Other assets (62) (7)
Accounts payable and accrued liabilities (806) (2,358)
Operating lease liabilities 108 (65)
NET CASH USED IN OPERATING ACTIVITIES (12,183) (2,864)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (1,963) (116)
Purchases of patent rights (12) (37)
Cash paid for asset acquisition, net of cash acquired (1,933) (3,702)
NET CASH USED IN INVESTING ACTIVITIES (3,908) (3,855)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from warrant exercises 0 1,217
Proceeds from stock option exercises 458 35
Payment of debt issuance costs 0 (83)
Proceeds from line of credit 1,500
Repurchase of common stock (15,000) 0
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (14,542) 2,669
Effects of foreign currency exchange rate changes 80 (261)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FOR THE PERIOD (30,553) (4,311)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 56,400 9,656
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD $ 25,847 $ 5,345

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