v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income (loss) $ (5,829) $ 20,950 $ 51,845
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 18,581 13,834 11,295
Loss on rental assets and other fixed assets 864 568 1,160
Gain on sale of former rental assets (94) (68) (416)
Provision for sales revenue returns and doubtful accounts 10,486 17,177 17,518
Provision for rental revenue adjustments 2,579 2,233 2,678
Provision for inventory losses 1,283 972 351
Stock-based compensation expense 8,203 9,129 12,790
Deferred income taxes (82) 2,873 (11,595)
Change in fair value of earnout liability 1,053 810  
Changes in operating assets and liabilities:      
Accounts receivable (8,177) (16,707) (25,963)
Inventories 7,591 (10,336) (9,972)
Income tax receivable 928 (321) (1,348)
Prepaid expenses and other current assets 31 (2,693) (4,524)
Operating lease right-of-use asset (2,970) (5,856)  
Other noncurrent assets 2,296 (2,064) (1,626)
Accounts payable and accrued expenses (5,830) 3,202 6,360
Accrued payroll 870 (5,188) 4,538
Warranty reserve 1,823 3,041 3,359
Deferred revenue (203) 2,724 3,360
Income tax payable 319 429 64
Operating lease liability 3,291 6,716  
Other noncurrent liabilities   (832) 103
Net cash provided by operating activities 37,013 40,593 59,977
Cash flows from investing activities      
Purchases of marketable securities (22,751) (58,686) (76,162)
Maturities of marketable securities 14,545 91,350 63,455
Investment in intangible assets (255) (254) (350)
Investment in property and equipment (4,385) (3,143) (8,043)
Production and purchase of rental equipment (12,957) (3,117) (4,580)
Proceeds from sale of former assets 163 194 715
Payment for acquisition, net of cash acquired   (70,401)  
Net cash used in investing activities (25,640) (44,057) (24,965)
Cash flows from financing activities      
Proceeds from stock options exercised 332 3,109 17,156
Proceeds from employee stock purchases 2,084 2,748 2,348
Payment of employment taxes related to release of restricted stock (350) (928) (1,208)
Net cash provided by financing activities 2,066 4,929 18,296
Effect of exchange rates on cash 486 (62) 373
Net increase in cash and cash equivalents 13,925 1,403 53,681
Cash and cash equivalents, beginning of period 198,037 196,634 142,953
Cash and cash equivalents, end of period 211,962 198,037 196,634
Supplemental disclosures of cash flow information      
Cash paid (received) during the period for income taxes, net of refunds received (713) 239 1,653
Supplemental disclosure of non-cash transactions      
Accrued value of earnout related to acquisition   25,749  
Property and equipment in account payable and accrued liabilities $ 55 $ 66 $ 125

Source