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
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income (loss) $ (1,589) $ 5,302
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,462 2,794
Loss on rental units and other fixed assets 130 171
Gain on sale of former rental assets (37) (21)
Provision for sales revenue returns and doubtful accounts 3,608 4,428
Provision for rental revenue adjustments 808 590
Provision for inventory losses 347 456
Stock-based compensation expense 2,784 3,586
Deferred income taxes (200) 834
Change in fair value of earnout liability (952)  
Changes in operating assets and liabilities:    
Accounts receivable (10,511) (9,517)
Inventories (3,721) (2,897)
Income tax receivable 213 100
Prepaid expenses and other current assets (3,710) (2,143)
Operating lease right-of-use asset (2,262) (5,936)
Other noncurrent assets 460 (491)
Accounts payable and accrued expenses 2,759 (1,974)
Accrued payroll 2,436 (3,572)
Warranty reserve 1,000 227
Deferred revenue 149 367
Income tax payable 103 (277)
Operating lease liability 4,263 6,981
Other noncurrent liabilities   (832)
Net cash provided by (used in) operating activities 540 (1,824)
Cash flows from investing activities    
Purchases of marketable securities   (19,033)
Maturities of marketable securities 11,051 13,750
Investment in property and equipment (1,479) (933)
Production and purchase of rental equipment (735) (781)
Proceeds from sale of former assets 62 49
Net cash provided by (used in) investing activities 8,899 (6,948)
Cash flows from financing activities    
Proceeds from stock options exercised 60 1,635
Proceeds from employee stock purchases 1,088 1,525
Payment of employment taxes related to release of restricted stock (173) (714)
Net cash provided by financing activities 975 2,446
Effect of exchange rates on cash (89) (72)
Net increase (decrease) in cash and cash equivalents 10,325 (6,398)
Cash and cash equivalents, beginning of period 198,037 196,634
Cash and cash equivalents, end of period 208,362 190,236
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received   214
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 38 $ 194