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
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 5,307 $ 3,464
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,779 5,995
Loss on rental units 1,203 330
Loss on disposal of other fixed assets   85
Provision for sales returns 2,558 1,090
Provision for doubtful accounts 1,201 1,353
Provision for rental revenue adjustments 5,530 4,057
Provision for inventory obsolescence 125 92
Stock-based compensation 1,123 116
Deferred tax assets (999) 0
Increase (decrease) in fair value of preferred stock warrant liability (36) 202
Changes in operating assets and liabilities    
Accounts receivable (17,119) (9,176)
Inventories (3,208) (130)
Deferred costs of rental revenue (134) (124)
Prepaid expenses and other current assets (449) (404)
Accounts payable and accrued expenses 1,982 2,718
Accrued payroll 834 447
Warranty reserve 363 396
Deferred revenue 1,574 867
Income tax receivable 87 0
Income tax payable 2,647 100
Net cash provided by operating activities 11,368 11,478
Cash flows from investing activities    
Investment in intangible assets (184) (7)
Production of rental equipment (10,132) (11,918)
Purchases of property and equipment (1,060) (2,572)
Net cash used in investing activities (11,376) (14,497)
Cash flows from financing activities    
Proceeds from borrowings 6,000 6,000
Proceeds from redeemable convertible preferred stock warrants and common stock warrants exercised 467 1,875
Proceeds from stock options exercised 229  
Proceeds from initial public offering 56,471  
Costs associated with initial public offering (4,942) 0
Employee stock purchase 413  
Repayment of debt from investment in intangible assets (130) (159)
Repayment of borrowings (15,861) (2,750)
Net cash provided by financing activities 42,647 4,966
Net increase (decrease) in cash and cash equivalents 42,639 1,947
Cash and cash equivalents, beginning of period 13,521  
Cash and cash equivalents, end of period 56,160 13,521
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 478 307
Cash paid during the period for income taxes 1,673 124
Non-cash transactions:    
Deemed dividend on redeemable convertible preferred stock $ 987 $ 5,359