v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income (loss) $ 16,544 $ (708)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 15,861 13,654
Loss on rental units and other fixed assets 952 502
Gain on sale of former rental assets (59) (84)
Provision for sales revenue returns and doubtful accounts 8,248 8,341
Provision for rental revenue adjustments 3,543 2,115
Provision for inventory losses 1,452 720
Stock-based compensation expense 8,547 6,111
Deferred income taxes (1,014) 369
Change in fair value of earnout liability (9,822) (166)
Changes in operating assets and liabilities:    
Accounts receivable (15,232) (7,716)
Inventories (9,935) 2,597
Income tax receivable 261 (129)
Prepaid expenses and other current assets (6,323) (8,695)
Operating lease right-of-use asset (17,005) (3,463)
Other noncurrent assets 73 2,105
Accounts payable and accrued expenses (3,015) (1,495)
Accrued payroll 5,141 1,017
Warranty reserve 522 1,356
Deferred revenue 1,743 375
Income tax payable (979) 265
Operating lease liability 17,632 3,744
Net cash provided by operating activities 17,135 20,815
Cash flows from investing activities    
Purchases of marketable securities   (6,531)
Maturities of marketable securities 15,705 11,057
Investment in intangible assets (132) (215)
Investment in property and equipment (4,807) (3,352)
Production and purchase of rental equipment (13,156) (8,217)
Proceeds from sale of former assets 122 140
Net cash used in investing activities (2,268) (7,118)
Cash flows from financing activities    
Proceeds from stock options exercised 13,699 186
Proceeds from employee stock purchases 1,948 2,084
Payment of employment taxes related to release of restricted stock (617) (288)
Net cash provided by financing activities 15,030 1,982
Effect of exchange rates on cash (283) 268
Net increase in cash and cash equivalents 29,614 15,947
Cash and cash equivalents, beginning of period 211,962 198,037
Cash and cash equivalents, end of period 241,576 213,984
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 1,284 158
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 333 $ 32

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