v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income (loss) $ (17,656) $ 4,370
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,608 10,339
Loss on rental units and other fixed assets 1,466 601
Gain on sale of former rental assets (93) (40)
Provision for sales revenue returns and doubtful accounts 6,200 5,266
Provision for rental revenue adjustments   2,065
Provision for inventory losses 1,552 888
Stock-based compensation expense 5,685 5,755
Deferred income taxes   5,297
Change in fair value of earnout liability (1,411) (7,775)
Changes in operating assets and liabilities:    
Accounts receivable (13,788) (14,691)
Inventories (2,623) (4,644)
Income tax receivable (327) 66
Prepaid expenses and other current assets 482 6,447
Operating lease right-of-use asset 1,428 (17,811)
Other noncurrent assets 87 68
Accounts payable and accrued expenses 281 (1,071)
Accrued payroll (4,637) 5,021
Warranty reserve 778 944
Deferred revenue (27) 1,386
Income tax payable (82) (817)
Operating lease liability (1,490) 18,465
Net cash provided by (used in) operating activities (12,567) 20,129
Cash flows from investing activities    
Maturities of marketable securities 9,988 8,152
Investment in intangible assets   (101)
Investment in property and equipment (2,236) (3,594)
Production and purchase of rental equipment (7,083) (7,957)
Proceeds from sale of former assets 153 78
Net cash provided by (used in) investing activities 822 (3,422)
Cash flows from financing activities    
Proceeds from stock options exercised 35 9,958
Proceeds from employee stock purchases 915 927
Payment of employment taxes related to release of restricted stock (1,159) (545)
Net cash provided by (used in) financing activities (209) 10,340
Effect of exchange rates on cash 51 (159)
Net increase (decrease) in cash and cash equivalents (11,903) 26,888
Cash and cash equivalents, beginning of period 235,524 211,962
Cash and cash equivalents, end of period 223,621 238,850
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 483 1,057
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 345 $ 68

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