Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.6.0.2
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 20,519 $ 11,585 $ 6,826
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 13,558 14,012 12,080
Loss on rental units and other fixed assets 1,202 1,214 1,897
Gain on sale of former assets (272)    
Provision for sales returns and doubtful accounts 11,082 7,598 5,143
Provision for rental revenue adjustments 10,777 8,543 7,898
Provision for inventory obsolescence and other inventory losses, net of recoveries 133 89 202
Stock-based compensation expense 7,294 3,640 1,451
Decrease in fair value of preferred stock warrant liability 0 0 (36)
Deferred tax assets 1,036 4,760 1,564
Excess tax benefits from stock-based compensation arrangements   1,641 (1,641)
Changes in operating assets and liabilities:      
Accounts receivable (32,738) (16,699) (22,159)
Inventories (7,458) (2,570) (3,570)
Deferred cost of revenue (1) 118 (226)
Income tax receivable 1,725 (1,670) (401)
Prepaid expenses and other current assets (789) 252 (591)
Accounts payable and accrued expenses (86) 1,582 3,637
Accrued payroll 852 1,205 1,168
Warranty reserve 1,507 858 306
Deferred revenue 2,759 2,030 2,229
Income tax payable (11) 11  
Other noncurrent liabilities (55) (38) (80)
Net cash provided by operating activities 31,034 38,161 15,697
Cash flows from investing activities      
Purchases of available-for-sale investments (33,142) (36,626)  
Maturities of available-for-sale investments 28,843 19,810  
Investment in intangible assets (113) (45) (205)
Investment in property and equipment (1,718) (2,208) (1,551)
Production and purchase of rental equipment (6,185) (10,236) (14,481)
Proceeds from sale of former assets 388    
Payment of deposit     (17)
Net cash used in investing activities (11,927) (29,305) (16,254)
Cash flows from financing activities      
Proceeds from borrowings     6,000
Proceeds from redeemable convertible preferred stock warrants and common stock warrants exercised   5 506
Proceeds from stock options exercised 6,974 1,615 946
Proceeds from initial public offering     56,471
Costs associated with initial public offering     (6,031)
Proceeds from employee stock purchases 1,055 701 413
Repayment of debt from investment in intangible assets (315) (299) (213)
Repayment of borrowings     (15,861)
Excess tax benefits from stock-based compensation arrangements   (1,641) 1,641
Net cash provided by financing activities 7,714 381 43,872
Effect of exchange rates on cash (76) 33  
Net increase in cash and cash equivalents 26,745 9,270 43,315
Cash and cash equivalents, beginning of period 66,106 56,836 13,521
Cash and cash equivalents, end of period 92,851 66,106 56,836
Supplemental disclosures of cash flow information      
Cash paid during the period for interest 10 26 487
Cash paid (received) during the period for income taxes, net $ (447) $ 19 2,061
Non-cash transactions:      
Deemed dividend on redeemable convertible preferred stock     $ 987