XML 23 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net income (loss) $ 46,289 $ 56,201 $ (2,027)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Deferred taxes 13,939 (47,203) (371)
Stock-based compensation 8,015 7,948 6,470
Depreciation and amortization 3,901 2,627 2,557
Non-cash interest expense 648 504 405
Increase in inventory reserve 152 511 325
Gain on sale of assets (38,591) 0 0
Other 671 42 12
Changes in operating assets and liabilities:      
Accounts receivable (14,476) (7,128) (16,095)
Inventories, net 2,748 (2,728) (4,975)
Contract assets 110 53 (2,793)
Prepaid expenses and other current assets (1,056) (1,460) (655)
Accounts payable 2,189 2,594 926
Accrued expenses and other liabilities 11,596 7,157 4,888
Deferred revenue 484 2,202 718
Net cash provided by (used in) operating activities 36,619 21,320 (10,615)
Cash Flows from Investing Activities      
Purchases of property and equipment (6,617) (9,615) (2,350)
Proceeds from sale of assets, net of transaction costs 17,825 282 5,000
Purchase of intangibles, including transaction costs (13,815) (5,000) 0
Purchases of investment securities (1,245) 0 (22,645)
Proceeds from maturities of investment securities 0 22,500 0
Net cash provided by (used in) investing activities (3,852) 8,167 (19,995)
Cash Flows from Financing Activities      
Proceeds from issuance of long-term debt 20,000 0 15,000
Principal payments of long-term debt (40,000) 0 0
Prepayment fees and end of term charge on long-term debt (2,055) 0 0
Payment of debt issuance costs for long-term debt (276) 0 (136)
Proceeds from issuance of common stock, net 0 0 7,781
Proceeds from exercise of stock options 5,182 1,814 4,405
Taxes paid related to net share settlement of equity awards (2,841) (1,367) (1,131)
Net cash provided by (used in) financing activities (19,990) 447 25,919
Effect of exchange rate changes on cash and cash equivalents (1) 2 0
Cash and cash equivalents      
Net increase (decrease) during the period 12,776 29,936 (4,691)
Beginning of period 53,137 23,201 27,892
End of period 65,913 53,137 23,201
Supplemental disclosure of cash flow information      
Cash paid for interest 2,736 3,538 3,025
Cash paid for income taxes 1,783 90 0
Supplemental disclosure of non-cash investing activities      
Purchases of property and equipment recorded in accounts payable and accrued expenses 259 2,017 970
Purchase of intangible assets included in accrued liabilities 0 2,500 0
Gain on sale of assets recognized in excess of cash received $ 20,766 $ 0 $ 0