908 Devices Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
MASS$9.99-13.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| · 2024 · 2023 | ||||||
| Cash flows from operating activities: · · · · | ||||||
| Net loss | | $(72,206) | | $(36,399) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||
| Goodwill impairment | | | 40,659 | | | — |
| Depreciation and amortization expense | | 4,682 | | 2,384 | ||
| Stock-based compensation expense | | 11,763 | | 9,787 | ||
| Noncash interest expense and loss on extinguishment of debt | | — | | 192 | ||
| Provision for inventory obsolescence | | 653 | | 663 | ||
| Net amortization of premiums and accretion of discounts on marketable securities | | | 13 | | | (301) |
| Loss on disposal of property and equipment | | | 54 | | | — |
| Provision for credit losses | | | 176 | | | 386 |
| Change in fair value of contingent consideration | | | (13,216) | | | 107 |
| Deferred income tax | | | (283) | | | (305) |
| Changes in operating assets and liabilities, net of business combinations: | | | | | ||
| Accounts receivable, net | | (2,927) | | 680 | ||
| Inventory | | (1,664) | | (3,902) | ||
| Prepaid expenses and other current assets | | (445) | | (513) | ||
| Other long-term assets | | 559 | | (135) | ||
| Accounts payable and accrued expenses | | 2,319 | | 2,033 | ||
| Deferred revenue | | (368) | | 179 | ||
| Right-of-use operating lease assets | | 2,047 | | 1,668 | ||
| Operating lease liabilities | | (2,063) | | (1,583) | ||
| Net cash used in operating activities | | (30,247) | | (25,059) | ||
| Cash flows from investing activities: | | | | | ||
| Purchases of property and equipment | | (602) | | (2,045) | ||
| Purchases of marketable securities | | | (55,500) | | | (48,874) |
| Acquisition of RedWave Technology, net of cash acquired | | | (44,783) | | | — |
| Proceeds from maturities of marketable securities | | | 54,564 | | | 24,519 |
| Net cash used in investing activities | | (46,321) | | (26,400) | ||
| Cash flows from financing activities: | | | | | ||
| Payments for withholding taxes on vested awards | | | (1,105) | | | (776) |
| Proceeds from issuance of common stock | | | 1,146 | | | 936 |
| Repayment on revolving line of credit | | | — | | | (15,000) |
| Payments for contingent consideration | | | (417) | | | (1,095) |
| Net cash used in financing activities | | (376) | | (15,935) | ||
| Effect of foreign exchange rate changes on cash and cash equivalents | | | (65) | | | 13 |
| Net decrease in cash, cash equivalents and restricted cash | | (77,009) | | (67,381) | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 121,212 | | 188,593 | ||
| Cash, cash equivalents and restricted cash at end of period | | $44,203 | | $121,212 | ||
| Supplemental disclosure of noncash investing and financing information: | | | | | ||
| Property and equipment included in account payable | | $— | | $23 | ||
| Transfers of inventory to property and equipment | | $1,158 | | $1,047 | ||
| Transfers of property and equipment to inventory | | $— | | $214 | ||
| Fair value of common stock issued for acquisition of RedWave Technology | | $8,616 | | $— | ||
| Cash paid for taxes | | $184 | | $— | ||
| Reconciliation of cash, cash equivalents and restricted cash: | | | | | | |
| Cash and cash equivalents | | $44,032 | | $121,041 | ||
| Restricted cash included in other long-term assets | | | 171 | | | 171 |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | | $44,203 | | $121,212 | ||
Notes to Consolidated Financial Statements
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