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, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 991 $ 15,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,942 5,554
Loss on rental units and other fixed assets 279 323
Gain on sale of former rental assets (74) (46)
Provision for sales revenue returns and doubtful accounts 5,694 8,890
Provision for rental revenue adjustments 1,548 1,227
Provision for inventory losses 626 410
Stock-based compensation expense 4,061 5,365
Deferred income taxes 684 4,067
Change in fair value of earnout liability (20)  
Changes in operating assets and liabilities:    
Accounts receivable (1,399) (19,735)
Inventories (3,327) 1,536
Income tax receivable (8) (95)
Prepaid expenses and other current assets (6,385) (3,154)
Operating lease right-of-use asset (3,599) (5,461)
Other noncurrent assets 1,509 (1,926)
Accounts payable and accrued expenses (1,124) 223
Accrued payroll 190 (4,436)
Warranty reserve 1,237 795
Deferred revenue 282 1,959
Income tax payable 163 15
Operating lease liability 3,800 6,462
Other noncurrent liabilities   (832)
Net cash provided by operating activities 14,070 16,603
Cash flows from investing activities    
Purchases of marketable securities (4,554) (38,601)
Maturities of marketable securities 11,057 40,150
Investment in intangible assets (215) (31)
Investment in property and equipment (2,329) (1,973)
Production and purchase of rental equipment (3,227) (1,481)
Proceeds from sale of former assets 119 104
Net cash provided by (used in) investing activities 851 (1,832)
Cash flows from financing activities    
Proceeds from stock options exercised 186 1,878
Proceeds from employee stock purchases 1,088 1,525
Payment of employment taxes related to release of restricted stock (238) (785)
Net cash provided by financing activities 1,036 2,618
Effect of exchange rates on cash 92 (76)
Net increase in cash and cash equivalents 16,049 17,313
Cash and cash equivalents, beginning of period 198,037 196,634
Cash and cash equivalents, end of period 214,086 213,947
Supplemental disclosures of cash flow information    
Cash paid during the period for income taxes, net of refunds received 132 208
Supplemental disclosure of non-cash transactions    
Property and equipment in accounts payable and accrued liabilities $ 146 $ 242