Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 41,800 $ 21,608
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,521 9,257
Loss on rental units and other fixed assets 848 934
Gain on sale of former rental assets (409) (62)
Provision for sales returns and doubtful accounts 14,089 10,319
Provision for rental revenue adjustments 2,157 3,828
Provision for inventory obsolescence and other inventory losses 319 222
Stock-based compensation expense 9,783 6,630
Deferred income taxes (7,646) 2,035
Changes in operating assets and liabilities:    
Accounts receivable (19,233) (16,826)
Inventories (12,828) (3,481)
Deferred cost of revenue (40) 40
Income tax receivable (1,047) (1,155)
Prepaid expenses and other current assets (5,483) (1,421)
Other noncurrent assets (1,082)  
Accounts payable and accrued expenses 6,191 9,103
Accrued payroll 5,033 717
Warranty reserve 3,071 2,085
Deferred revenue 3,395 2,987
Income tax payable 34 131
Other noncurrent liabilities 167 535
Net cash provided by operating activities 47,640 47,486
Cash flows from investing activities    
Purchases of available-for-sale investments (50,285) (35,367)
Maturities of available-for-sale investments 33,705 23,076
Investment in intangible assets (350) (15)
Investment in property and equipment (7,240) (2,083)
Production and purchase of rental equipment (3,475) (2,682)
Proceeds from sale of former assets 680 129
Payment for acquisition, net of cash acquired   (4,447)
Net cash used in investing activities (26,965) (21,389)
Cash flows from financing activities    
Proceeds from stock options exercised 10,964 9,343
Proceeds from employee stock purchases 2,348 1,379
Payment of employment taxes related to release of restricted stock (1,103)  
Net cash provided by financing activities 12,209 10,722
Effect of exchange rates on cash 445 23
Net increase in cash and cash equivalents 33,329 36,842
Cash and cash equivalents, beginning of period 142,953 92,851
Cash and cash equivalents, end of period 176,282 129,693
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 1,631 1,164
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 161 $ 104