Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (732) $ (1,589)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 5,098 4,462
Loss on rental units and other fixed assets 158 130
Gain on sale of former rental assets (24) (37)
Provision for sales revenue returns and doubtful accounts 2,471 3,608
Provision for rental revenue adjustments 1,041 808
Provision for inventory losses 518 347
Stock-based compensation expense 2,516 2,784
Deferred income taxes (1,527) (200)
Change in fair value of earnout liability 265 (952)
Changes in operating assets and liabilities:    
Accounts receivable (12,418) (10,511)
Inventories (2,686) (3,721)
Income tax receivable 64 213
Prepaid expenses and other current assets 8,171 (3,710)
Operating lease right-of-use asset (8,696) (2,262)
Other noncurrent assets 41 460
Accounts payable and accrued expenses (3,526) 2,759
Accrued payroll 2,105 2,436
Warranty reserve 520 1,000
Deferred revenue 518 149
Income tax payable 80 103
Operating lease liability 8,903 4,263
Net cash provided by operating activities 2,860 540
Cash flows from investing activities    
Maturities of marketable securities 6,125 11,051
Investment in intangible assets (26)  
Investment in property and equipment (1,516) (1,479)
Production and purchase of rental equipment (3,643) (735)
Proceeds from sale of former assets 46 62
Net cash provided by investing activities 986 8,899
Cash flows from financing activities    
Proceeds from stock options exercised 3,866 60
Proceeds from employee stock purchases 927 1,088
Payment of employment taxes related to release of restricted stock (366) (173)
Net cash provided by financing activities 4,427 975
Effect of exchange rates on cash (221) (89)
Net increase in cash and cash equivalents 8,052 10,325
Cash and cash equivalents, beginning of period 211,962 198,037
Cash and cash equivalents, end of period 220,014 208,362
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 17  
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 77 $ 38