v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (14,214) $ (732)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,760 5,098
Loss on rental units and other fixed assets 706 158
Gain on sale of former rental assets (52) (24)
Provision for sales revenue returns and doubtful accounts 2,953 2,471
Provision for rental revenue adjustments   1,041
Provision for inventory losses 934 518
Stock-based compensation expense 2,665 2,516
Deferred income taxes   (1,527)
Change in fair value of earnout liability 630 265
Changes in operating assets and liabilities:    
Accounts receivable (12,802) (12,418)
Inventories (2,515) (2,686)
Income tax receivable (92) 64
Prepaid expenses and other current assets 764 8,171
Operating lease right-of-use asset 832 (8,696)
Other noncurrent assets 66 41
Accounts payable and accrued expenses 6,539 (3,526)
Accrued payroll (8,465) 2,105
Warranty reserve (633) 520
Deferred revenue (231) 518
Income tax payable (79) 80
Operating lease liability (864) 8,903
Net cash provided by (used in) operating activities (18,098) 2,860
Cash flows from investing activities    
Maturities of marketable securities   6,125
Investment in intangible assets   (26)
Investment in property and equipment (1,366) (1,516)
Production and purchase of rental equipment (2,777) (3,643)
Proceeds from sale of former assets 91 46
Net cash provided by (used in) investing activities (4,052) 986
Cash flows from financing activities    
Proceeds from stock options exercised 29 3,866
Proceeds from employee stock purchases 915 927
Payment of employment taxes related to release of restricted stock (1,052) (366)
Net cash provided by (used in) financing activities (108) 4,427
Effect of exchange rates on cash 133 (221)
Net increase (decrease) in cash and cash equivalents (22,125) 8,052
Cash and cash equivalents, beginning of period 235,524 211,962
Cash and cash equivalents, end of period 213,399 220,014
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 372 17
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 91 $ 77

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