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
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income $ 25,368 $ 14,270
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,809 6,321
Loss on rental units and other fixed assets 525 604
Gain on sale of former rental assets (401) (50)
Provision for sales returns and doubtful accounts 9,942 6,702
Provision for rental revenue adjustments 1,429 2,903
Provision for inventory obsolescence and other inventory losses 227 102
Stock-based compensation expense 6,567 4,107
Deferred income taxes (2,100) 662
Changes in operating assets and liabilities:    
Accounts receivable (17,480) (12,369)
Inventories (9,070) (2,154)
Deferred cost of revenue (20) 13
Income tax receivable (1,346) (1,062)
Prepaid expenses and other current assets (4,084) (157)
Other noncurrent assets (104)  
Accounts payable and accrued expenses 10,830 8,466
Accrued payroll 2,235 (1,551)
Warranty reserve 2,559 1,171
Deferred revenue 2,161 2,228
Income tax payable 7 (61)
Other noncurrent liabilities 209 (34)
Net cash provided by operating activities 33,263 30,111
Cash flows from investing activities    
Purchases of available-for-sale investments (39,312) (22,725)
Maturities of available-for-sale investments 28,235 14,318
Investment in property and equipment (4,541) (969)
Production and purchase of rental equipment (2,447) (1,834)
Proceeds from sale of former assets 619 91
Payment for acquisition, net of cash acquired   (4,442)
Net cash used in investing activities (17,446) (15,561)
Cash flows from financing activities    
Proceeds from stock options exercised 6,517 6,730
Proceeds from employee stock purchases 988 581
Payment of employment taxes related to release of restricted stock (302)  
Net cash provided by financing activities 7,203 7,311
Effect of exchange rates on cash 371 (1)
Net increase in cash and cash equivalents 23,391 21,860
Cash and cash equivalents, beginning of period 142,953 92,851
Cash and cash equivalents, end of period 166,344 114,711
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 1,631 1,070
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 204 $ 153