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, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 10,758 $ 5,932
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,993 3,204
Loss on rental units and other fixed assets 284 325
Gain on sale of former rental assets (401) (37)
Provision for sales returns and doubtful accounts 4,920 3,181
Provision for rental revenue adjustments 719 1,731
Provision for inventory obsolescence and other inventory losses 73 7
Stock-based compensation expense 3,381 1,891
Deferred income taxes (1,798) (54)
Changes in operating assets and liabilities:    
Accounts receivable (9,206) (5,015)
Inventories (4,327) 49
Deferred cost of revenue 26 16
Income tax receivable 726 (129)
Prepaid expenses and other current assets (1,192) (773)
Accounts payable and accrued expenses 3,928 4,045
Accrued payroll (274) (2,291)
Warranty reserve 1,074 528
Deferred revenue 608 621
Income tax payable (36)  
Other noncurrent liabilities (16) (19)
Net cash provided by operating activities 12,240 13,212
Cash flows from investing activities    
Purchases of available-for-sale investments (11,565) (9,988)
Maturities of available-for-sale investments 8,525 7,950
Investment in property and equipment (2,075) (593)
Production and purchase of rental equipment (1,447) (1,188)
Proceeds from sale of former assets 573 54
Net cash used in investing activities (5,989) (3,765)
Cash flows from financing activities    
Proceeds from stock options exercised 4,459 2,222
Proceeds from employee stock purchases 988 581
Payment of employment taxes related to release of restricted stock (302)  
Net cash provided by financing activities 5,145 2,803
Effect of exchange rates on cash (65) 4
Net increase in cash and cash equivalents 11,331 12,254
Cash and cash equivalents, beginning of period 142,953 92,851
Cash and cash equivalents, end of period 154,284 105,105
Supplemental disclosures of cash flow information    
Cash paid (received) during the period for income taxes, net of refunds received (14) $ 45
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 93