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, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (75,894) $ (27,162)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13,008 17,536
Loss on rental units and other assets 3,377 2,488
Gain on sale of former rental assets (58) (93)
Provision for sales revenue returns and doubtful accounts 7,075 10,816
Provision for inventory losses 2,343 2,060
Stock-based compensation expense 8,484 9,185
Change in fair value of earnout liability   (1,699)
Impairment charges 32,894  
Changes in operating assets and liabilities:    
Accounts receivable 7,140 (37,828)
Inventories 6,452 (5,958)
Income tax receivable 1,165 (236)
Prepaid expenses and other current assets 5,054 5,675
Operating lease right-of-use asset 2,453 2,433
Other noncurrent assets (1,406) 135
Accounts payable and accrued expenses (7,224) 7,253
Accrued payroll (3,179) (5,498)
Warranty reserve 2,443 1,734
Deferred revenue (1,920) (283)
Income tax payable 200 (82)
Operating lease liability (2,493) (2,526)
Net cash used in operating activities (86) (22,050)
Cash flows from investing activities    
Maturities of available-for-sale securities 10,500 10,005
Purchases of available-for-sale securities (23,750)  
Investment in intangible assets (494)  
Investment in property and equipment (3,824) (2,770)
Production and purchase of rental equipment (16,391) (11,320)
Proceeds from sale of former assets 149 152
Acquisition of business, net of cash acquired (29,633)  
Net cash used in investing activities (63,443) (3,933)
Cash flows from financing activities    
Proceeds from stock options exercised 384 35
Proceeds from employee stock purchases 1,094 1,691
Payment of employment taxes related to release of restricted stock (504) (1,234)
Net cash provided by financing activities 974 492
Effect of exchange rates on cash 149 (400)
Net decrease in cash and cash equivalents (62,406) (25,891)
Cash and cash equivalents, beginning of period 187,014 235,524
Cash and cash equivalents, end of period 124,608 209,633
Supplemental disclosures of cash flow information    
Cash (received) paid during the period for income taxes, net of refunds received (738) 535
Supplemental disclosure of non-cash transactions    
Accrued value of earnout related to acquisition 3,178  
Property and equipment in accounts payable and accrued liabilities $ 430 $ 314