Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 15,462 $ 25,368
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,554 5,809
Loss on rental units and other fixed assets 323 525
Gain on sale of former rental assets (46) (401)
Provision for sales revenue returns and doubtful accounts 8,890 9,942
Provision for rental revenue adjustments 1,227 1,429
Provision for inventory losses 410 227
Stock-based compensation expense 5,365 6,567
Deferred income taxes 4,067 (2,100)
Changes in operating assets and liabilities:    
Accounts receivable (19,735) (17,480)
Inventories 1,536 (9,070)
Deferred cost of revenue 7 (20)
Income tax receivable (95) (1,346)
Prepaid expenses and other current assets (3,161) (4,084)
Operating lease right-of-use asset (5,461)  
Other noncurrent assets (1,926) (104)
Accounts payable and accrued expenses 223 10,830
Accrued payroll (4,436) 2,235
Warranty reserve 795 2,559
Deferred revenue 1,959 2,161
Income tax payable 15 7
Operating lease liability 6,462  
Other noncurrent liabilities (832) 209
Net cash provided by operating activities 16,603 33,263
Cash flows from investing activities    
Purchases of marketable securities (38,601) (39,312)
Maturities of marketable securities 40,150 28,235
Investment in intangible assets (31)  
Investment in property and equipment (1,973) (4,541)
Production and purchase of rental equipment (1,481) (2,447)
Proceeds from sale of former assets 104 619
Net cash used in investing activities (1,832) (17,446)
Cash flows from financing activities    
Proceeds from stock options exercised 1,878 6,517
Proceeds from employee stock purchases 1,525 988
Payment of employment taxes related to release of restricted stock (785) (302)
Net cash provided by financing activities 2,618 7,203
Effect of exchange rates on cash (76) 371
Net increase in cash and cash equivalents 17,313 23,391
Cash and cash equivalents, beginning of period 196,634 142,953
Cash and cash equivalents, end of period 213,947 166,344
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 208 1,631
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 242 $ 204