Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities    
Net income $ 3,174 $ 2,690
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,586 3,653
Loss on rental units and other fixed assets 921 168
Provision for sales returns 1,178 760
Provision for doubtful accounts 571 969
Provision for rental revenue adjustments 3,411 1,500
Provision for inventory obsolescence 79 63
Stock-based compensation 666 51
Deferred tax assets (284)  
Increase (decrease) in fair value of preferred stock warrant liability (36) 243
Changes in operating assets and liabilities    
Accounts receivable (10,574) (6,376)
Inventories (1,932) (171)
Deferred costs of rental revenue (142) (37)
Prepaid expenses and other current assets (595) (519)
Accounts payable and accrued expenses 3,136 2,625
Accrued payroll (57) 172
Warranty reserve 269 279
Deferred revenue 1,267 715
Income tax receivable 87  
Income tax payable 1,435 92
Net cash provided by operating activities 8,160 6,877
Cash flows from investing activities    
Investment in intangible assets (180)  
Production of rental equipment (6,752) (7,746)
Purchases of property and equipment (603) (1,361)
Net cash used in investing activities (7,535) (9,107)
Cash flows from financing activities    
Proceeds from borrowings 6,000 2,000
Proceeds from redeemable convertible preferred stock warrants and common stock warrants exercised 467 1,231
Proceeds from stock options exercised 109  
Proceeds from initial public offering 56,471  
Costs associated with initial public offering (4,911)  
Repayments of debt from investment in intangible assets (86) (106)
Repayment of borrowings (3,150) (1,833)
Net cash provided by financing activities 54,900 1,292
Net increase (decrease) in cash and cash equivalents 55,525 (938)
Cash and cash equivalents, beginning of period 13,521 15,112
Cash and cash equivalents, end of period 69,046 14,174
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 317 212
Cash paid during the period for income taxes 802 60
Non-cash transactions:    
Deemed dividend on redeemable convertible preferred stock $ 987 $ 3,508