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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 21,608 $ 15,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,257 10,290
Loss on rental units and other fixed assets 934 891
Gain on sale of former rental assets (62) (224)
Provision for sales returns and doubtful accounts 10,319 8,177
Provision for rental revenue adjustments 3,828 7,783
Provision for inventory obsolescence and other inventory losses, net of recoveries 222 141
Stock-based compensation expense 6,630 5,404
Deferred tax assets 2,035 1,653
Changes in operating assets and liabilities:    
Accounts receivable (16,826) (25,812)
Inventories (3,481) (9,220)
Deferred cost of revenue 40 (42)
Income tax receivable (1,155) 546
Prepaid expenses and other current assets (1,421) (600)
Accounts payable and accrued expenses 9,103 7,801
Accrued payroll 717 573
Warranty reserve 2,085 1,424
Deferred revenue 2,987 1,856
Income tax payable 131 (11)
Other noncurrent liabilities 535 (37)
Net cash provided by operating activities 47,486 25,852
Cash flows from investing activities    
Purchases of available-for-sale investments (35,367) (26,321)
Maturities of available-for-sale investments 23,076 20,799
Investment in intangible assets (15) (112)
Investment in property and equipment (2,083) (1,483)
Production and purchase of rental equipment (2,682) (4,588)
Proceeds from sale of former assets 129 328
Payment for acquisition, net of cash acquired (4,447)  
Net cash used in investing activities (21,389) (11,377)
Cash flows from financing activities    
Proceeds from stock options exercised 9,343 4,600
Proceeds from employee stock purchases 1,379 1,055
Repayment of debt from investment in intangible assets   (235)
Net cash provided by financing activities 10,722 5,420
Effect of exchange rates on cash 23 8
Net increase in cash and cash equivalents 36,842 19,903
Cash and cash equivalents, beginning of period 92,851 66,106
Cash and cash equivalents, end of period 129,693 86,009
Supplemental disclosures of cash flow information    
Cash paid during the period for interest   9
Cash paid (received) during the period for income taxes, net of refunds received 1,164 $ (533)
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 104