v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 4,370 $ 991
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,339 8,942
Loss on rental units and other fixed assets 601 279
Gain on sale of former rental assets (40) (74)
Provision for sales revenue returns and doubtful accounts 5,266 5,694
Provision for rental revenue adjustments 2,065 1,548
Provision for inventory losses 888 626
Stock-based compensation expense 5,755 4,061
Deferred income taxes 5,297 684
Change in fair value of earnout liability (7,775) (20)
Changes in operating assets and liabilities:    
Accounts receivable (14,691) (1,399)
Inventories (4,644) (3,327)
Income tax receivable 66 (8)
Prepaid expenses and other current assets 6,447 (6,385)
Operating lease right-of-use asset (17,811) (3,599)
Other noncurrent assets 68 1,509
Accounts payable and accrued expenses (1,071) (1,124)
Accrued payroll 5,021 190
Warranty reserve 944 1,237
Deferred revenue 1,386 282
Income tax payable (817) 163
Operating lease liability 18,465 3,800
Net cash provided by operating activities 20,129 14,070
Cash flows from investing activities    
Purchases of marketable securities   (4,554)
Maturities of marketable securities 8,152 11,057
Investment in intangible assets (101) (215)
Investment in property and equipment (3,594) (2,329)
Production and purchase of rental equipment (7,957) (3,227)
Proceeds from sale of former assets 78 119
Net cash (used in) provided by investing activities (3,422) 851
Cash flows from financing activities    
Proceeds from stock options exercised 9,958 186
Proceeds from employee stock purchases 927 1,088
Payment of employment taxes related to release of restricted stock (545) (238)
Net cash provided by financing activities 10,340 1,036
Effect of exchange rates on cash (159) 92
Net increase in cash and cash equivalents 26,888 16,049
Cash and cash equivalents, beginning of period 211,962 198,037
Cash and cash equivalents, end of period 238,850 214,086
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 1,057 132
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 68 $ 146

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