v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ (27,162) $ 16,544
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 17,536 15,861
Loss on rental units and other fixed assets 2,488 952
Gain on sale of former rental assets (93) (59)
Provision for sales revenue returns and doubtful accounts 10,816 8,248
Provision for rental revenue adjustments   3,543
Provision for inventory losses 2,060 1,452
Stock-based compensation expense 9,185 8,547
Deferred income taxes   (1,014)
Change in fair value of earnout liability (1,699) (9,822)
Changes in operating assets and liabilities:    
Accounts receivable (37,828) (15,232)
Inventories (5,958) (9,935)
Income tax receivable (236) 261
Prepaid expenses and other current assets 5,675 (6,323)
Operating lease right-of-use asset 2,433 (17,005)
Other noncurrent assets 135 73
Accounts payable and accrued expenses 7,253 (3,015)
Accrued payroll (5,498) 5,141
Warranty reserve 1,734 522
Deferred revenue (283) 1,743
Income tax payable (82) (979)
Operating lease liability (2,526) 17,632
Net cash provided by (used in) operating activities (22,050) 17,135
Cash flows from investing activities    
Maturities of marketable securities 10,005 15,705
Investment in intangible assets   (132)
Investment in property and equipment (2,770) (4,807)
Production and purchase of rental equipment (11,320) (13,156)
Proceeds from sale of former assets 152 122
Net cash used in investing activities (3,933) (2,268)
Cash flows from financing activities    
Proceeds from stock options exercised 35 13,699
Proceeds from employee stock purchases 1,691 1,948
Payment of employment taxes related to release of restricted stock (1,234) (617)
Net cash provided by financing activities 492 15,030
Effect of exchange rates on cash (400) (283)
Net increase (decrease) in cash and cash equivalents (25,891) 29,614
Cash and cash equivalents, beginning of period 235,524 211,962
Cash and cash equivalents, end of period 209,633 241,576
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 535 1,284
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 314 $ 333

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