Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Gross profit (loss)

$

1,978

$

(485

)

$

884

$

2,292

$

2,001

$

3,116

Gross margin

22.8

%

(5.5

%)

10.8

%

25.4

%

28.4

%

37.5

%

Adjustments:

Excess and obsolete inventory reserve related to recently discontinued products

—

2,917

—

—

—

241

Impairment of long-lived assets

—

—

1,341

243

146

15

Stock-based compensation expense

139

79

44

54

302

8

Adjusted gross profit

$

2,117

$

2,511

$

2,269

$

2,589

$

2,449

$

3,380

Adjusted gross margin

24.4

%

28.7

%

27.8

%

28.7

%

34.8

%

40.7

%

Loss from continuing operations, net of tax

$

(15,642

)

$

(18,097

)

$

(17,449

)

$

(11,273

)

$

(12,189

)

$

(7,446

)

Adjustments:

Interest and financing costs, net

579

739

884

994

1,940

759

Depreciation and amortization

353

397

402

11

55

73

Excess and obsolete inventory reserve related to recently discontinued products

—

2,917

—

—

—

241

Stock-based compensation expense

1,903

2,012

1,739

1,443

2,521

703

Impairment of long-lived assets

—

—

3,392

280

146

15

Adjusted EBITDA

$

(12,807

)

$

(12,032

)

$

(11,032

)

$

(8,545

)

$

(7,527

)

$

(5,655

)

Cash Flows

Cash flow used in operating activities

$

(16,976

)

$

(9,365

)

$

(10,216

)

$

(9,505

)

$

(10,689

)

$

(6,718

)

Purchases of property and equipment

(210

)

(417

)

(216

)

(86

)

(146

)

(15

)

Free cash flow (burn)

$

(17,186

)

$

(9,782

)

$

(10,432

)

$

(9,591

)

$

(10,835

)

$

(6,733

)