Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (83,772) $ (6,333) $ (5,829)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 23,514 21,628 18,581
Loss on rental assets and other fixed assets 3,095 1,521 864
Gain on sale of former rental assets (154) (65) (94)
Provision for sales revenue returns and doubtful accounts 13,024 11,094 10,486
Provision for rental revenue adjustments     2,579
Provision for inventory losses 2,423 2,062 1,283
Stock-based compensation expense 12,283 10,943 8,203
Deferred income taxes   14,444 (82)
Change in fair value of earnout liability (15,386) (11,596) 1,053
Loss on disposal of intangible asset 52,161    
Changes in operating assets and liabilities:      
Accounts receivable (51,337) (6,127) (8,177)
Inventories (5,601) (10,775) 7,591
Income tax receivable (281) 705 928
Prepaid expenses and other current assets 6,803 (8,104) 31
Operating lease right-of-use asset 3,259 (16,087) (2,970)
Other noncurrent assets 224 96 2,296
Accounts payable and accrued expenses 6,759 (6,476) (5,830)
Accrued payroll (6,106) 10,231 870
Warranty reserve 6,187 (668) 1,823
Deferred revenue (1,150) 1,613 (203)
Income tax payable (82) (1,141) 319
Operating lease liability (3,395) 16,668 3,291
Net cash provided by (used in) operating activities (37,532) 23,633 37,013
Cash flows from investing activities      
Purchases of marketable securities   (9,987) (22,751)
Maturities of marketable securities 10,014 19,256 14,545
Investment in intangible assets   (132) (255)
Investment in property and equipment (3,337) (5,482) (4,385)
Production and purchase of rental equipment (17,885) (18,453) (12,957)
Proceeds from sale of former assets 331 153 163
Net cash used in investing activities (10,877) (14,645) (25,640)
Cash flows from financing activities      
Proceeds from stock options exercised 44 13,699 332
Proceeds from employee stock purchases 1,691 1,948 2,084
Payment of employment taxes related to release of restricted stock (1,355) (647) (350)
Net cash provided by financing activities 380 15,000 2,066
Effect of exchange rates on cash (481) (426) 486
Net increase (decrease) in cash and cash equivalents (48,510) 23,562 13,925
Cash and cash equivalents, beginning of period 235,524 211,962 198,037
Cash and cash equivalents, end of period 187,014 235,524 211,962
Supplemental disclosures of cash flow information      
Cash paid (received) during the period for income taxes, net of refunds received 499 1,544 (713)
Supplemental disclosure of non-cash transactions      
Property and equipment in accounts payable and accrued liabilities $ 428 $ 353 $ 55