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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net income (loss) $ 58,749 $ (52,005)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,161 18,617
Non-cash interest expense 935 824
Deferred income taxes 1,885 (2,028)
Share-based compensation expense 26,774 22,379
Loss on extinguishment of debt   97,091
Provision for bad debts   490
Change in contingent consideration (4,775) 1,167
Changes in operating assets and liabilities:    
Accounts receivable and contract assets (35,754) (11,383)
Inventories (3,695) (49,118)
Prepaid expenses and other current assets (420) (11,354)
Accounts payable and accrued expenses 12,323 9,238
Contract liabilities (37,558) 11,071
Income taxes receivable and payable, net 1,060 (1,953)
Other, net (3,255) (847)
Net cash provided by (used in) operating activities 35,430 32,189
Cash Flows from Investing Activities    
Capital expenditures (12,934) (17,231)
Acquisition of businesses, net of cash acquired   (30,373)
Proceeds from the sale of investments 116,710 130,813
Payments for purchases of investments (124,639) (110,389)
Proceeds from sale of productive assets 2,033  
Net cash provided by (used in) investing activities (18,830) (27,180)
Cash Flows from Financing Activities    
Restricted stock tax withholdings (14,875) (9,047)
Contingent consideration payment (1,818) (2,500)
Proceeds (net of tax withholdings) from option exercises and employee stock purchase plan 4,368 3,706
Proceeds from issuance of 2029 Notes, net of issuance costs   223,202
Extinguishment of convertible notes   (218,991)
Net cash provided by (used in) financing activities (12,325) (3,630)
Effect of exchange rate changes on cash and cash equivalents 91 (54)
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,366 1,325
Cash, cash equivalents, and restricted cash - beginning of period 159,120 155,472
Cash, cash equivalents, and restricted cash - end of period 163,486 156,797
Supplemental Disclosure of Cash Flow Information    
Interest paid 5,480 7,296
Income taxes paid, net of refunds received 2,966 3,861
Non-cash activities    
Capital expenditures included in accounts payable and accrued expenses 281 8,379
Net transfer of inventory to property, plant and equipment   4,296
Right-of-use assets obtained in exchange for lease obligations $ 4,695 $ 630